Member Info for ICB888

Did we need producer status to go for a toll mining deal? If we toll mine we would be producing gold from our mine. Perhaps we will be producing gold in weeks rather than the 18 months you have stated as a fact.

Did we learn at what price we sold half our Portage shares at? Can we now buy them back more cheaply?

Issue of Renewable Developer Acquisition Shares and Total Voting Rights

Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce that further to the announcement made on 1 June 2021, in respect of the acquisition of the business of Africa Energy Management Platform ("AEMP"), completion of the transaction will occur on admission of the 9,196,926 ordinary shares ("Ordinary Shares"), at 8.00 a.m. on 25 June 2021.

It is worth remembering that people have accepted Chariot shares as consideration for their business. This demonstrates their belief that Chariot will be successful. AEMP is supposed to produce cash straight away which will be good.

Are you able to say which horse you have been talking to? Government or Condor.

They won’t raise any money yet. If and when they do the sp will be much higher say circa 25p. Read the Chairman’s words
“readying it for future investment, including from institutional investors should NAV and market cap develop as hoped”

I think the Chairman’s comment gives a clue as to why they may wish to issue new shares in the future:
Ian Burns continued, "We are positioning the company, which was originally incorporated in 2006, for the next exciting phase in its development, by bringing its constituent documents up to date to reflect changes in company law and into line with current market expectations, readying it for future investment, including from institutional investors should NAV and market cap develop as hoped."
Clearly institutional investment could take us to a new level and a market cap of £50 million plus is when they start to get interested.

Mark Child, Chairman and CEO commented:

"I am delighted to appoint Hanlon Engineering & Associates to complete the Feasibility Study level design for a new processing plant at La India Project. It's important to note that Hanlon Engineering was engaged by First Majestic Silver, the vendor of the SAG Mill, to help design the new SAG Mill recently purchased by Condor. Their knowledge of the SAG Mill and involvement with many similar process plant designs completed to date will help fast track the delivery of the Feasibility Study design. A senior engineer from Hanlon is due on site this week. The Feasibility Level designs for the processing plant are due to be delivered to Condor within 12 weeks."

Permission to construct the mine will be a massive tick. I realise this is Condor but it should move the sp as it clears the route to production and/or a bid.

Section relevant to AEX
Q4 was in particular a strong quarter to end the year, with significant developments in our portfolio of assets. In October, Aminex ("AEX") announced that it had completed the farmout of 50% of its ownership in the Ruvuma PSC to ARA Petroleum Tanzania ("APT"). This cleared an important obstacle to progress and at the same time provides further validation for the valuation that we consider appropriate. While our sales review of Tanzanian assets had commenced much earlier in the year, it was only upon completion of AEX/APT transaction that we began to progress commercial discussions, and this dialogue continues with a number of interested parties. In a short amount of time following the change of ownership and operatorship, ARA has moved swiftly to seek approval of a work program and budget to acquire a 400 sq km 3D survey. In parallel, APT announced the contracting and procurement of the services for the drilling of the Chikumbi-1 well. That well is a material value catalyst for the Ruvuma JV, and our involvement in it depends on the outcome of the ongoing discussions with potential suitors.

Mark in his Proactive interview last week promised a lot of news over the next six weeks. Let’s hope that in six weeks time the sp has responded well to this news and is moving north to exceed last years high. Permission to commence construction of the mine should get us off to a good start.

Yes

Continuation of Former CEO comments today
The major challenge SatoshiPay has faced in trying to deliver this product is an incomplete tech infrastructure needed to deliver the service on the Stellar network. Although Stellar is a large foundation with a major currency (Lumens:$10bn) they are still some way behind say Ethereum in terms of how their blockchain works and the currency can be deployed. This has I believe been the main delaying factor behind the market launch of Dtransfer.

The Pendelum network project provides solutions to many of these problems. In addition to allowing Dtransfer to fully rollout its platform, it also cements SatoshiPay position as a key component in the workings of the Stellar blockchain. In other words, Stellar is highly incentivised to see SatoshiPay succeed. This is why Stellar have effectively given free money (non-refundable grant) to SatoshiPay to develop Pendelum.

So, in my opinion, while there is still a risk SatoshiPay will fail, the overall chances of it succeeding grow as the relationship with Stellar strengthens and the move towards blockchain and crypto solutions evolves. Blue has invested approx. £1.8m in SatoshiPay for 27% of the business, and personally I believe that will prove to an excellent investment.

tonyfabrizi12 Jun '21 - 10:08 - 1325 of 1325
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Hello Mr Spookie, you asked if I wanted to comment on your observations so let me try. But first let me remind you and all other holders of Blue, that the investment strategy of Blue is to invest very early in disruptive technologies, this is a high risk and reward approach. If you look at today’s portfolio, Sthaler/Fingo, is using finger vein technology in a number of applications. Yesterday’s announcement of their tie up with Mastercard is another important step in building their application into a robust global product. Building a company to compete in the global payment and identification space is not easy and is taking a long time but the company continues to make progress and looks likely to succeed. We made the initial small investment in Sthaler of £50k and based on the latest valuation this is worth around £400k. Personally, I would be disappointed if this investment yields less than £500k. The point I want to make is when Blue made this investment Sthaler was very early in its evolution but I liked the tech, could see a wide application and the valuation was low so we made an investment knowing we could lose our money but also that it might provide a 10/20x return.

A similar approach was taken to the esports investments. When this opportunity was shown to us, I fully appreciated it was risky as the businesses were all fledgling but this was a fast growing market, the people bringing the deals had a good track record, were aligned through the warrants and we could acquire significant stakes at relatively low valuations. I am sure all Blue holders are pleased we made this move given the strong performance of the esports portfolio.

Turning to SatoshiPay, we looked at a number of blockchain businesses before selecting SatoshiPay and the main reason I chose them was a belief they were strong technically and the valuation was low, when a lot of investments in the sector had very inflated valuations. Its easy to forget but Blue shareholders were very supportive of this investment at the time and Blue’s share price reached over 0.60p following the investments. The market collapse at end 2019 and the significant fall-out in the crypto market clearly had a negative impact on the market’s view of SatoshiPay and Blue. In addition, the original vertical that SatoshiPay pursued of micropayments for publishers proved unresponsive. Despite these setbacks SatoshiPay’s management with Blue’s support and that of Stellar Development Foundation and Daniel Masters, pivoted the business model to B2B money transfer. This is a challenging move given the scale of the market and the strength of the incumbents, but the prize is also enormous.

The major challenge SatoshiPay has faced in trying to deliver this product is an incomplete tech infrastructure needed to deliver the service on the Stellar network. Although Stellar is a large foundation with a major currency (Lumens:$10bn) they are still some

JOHN077 asked about the post. The post from Tony was on one of the advfn threads called Once in a BLU moon. It is populated by a number of Satoshipay haters so Tony perhaps decided to put them back in their box. Thank you Tony. I think Satoshipay is looking really promising at the moment right at the cutting edge of blockchain. I invested in BLU for Satoshipay and feel the wait will soon be well rewarded.

Good RNS this morning implementing the declared strategy . However on volume of 1.2 million with Buys exceeding Sell 3:1 FFWD is down 1.2%. We are trading at a 40% discount to NAV which excludes the large uplifts expected from Leap and JUV. What is it going to take to get this moving north again from this bargain basement price?

The former CEO has posted on another bb this morning:

tonyfabrizi10 Jun '21 - 09:31 - 1316 of 1318
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Blue’s interim results have to be released this month and I am hoping for an update on the other 5 esports businesses where Blue has a significant stake. The companies are Googly (Indian), Dibbs (all female, US based), Diemens (Australian), Drops (Canadian) and Formation (contact sports European). It appears that Formation (www.formation.gg) and (www.paidiagaming.com) ,assume this is the renamed Dibbs, are active. I cannot find anything on the other 3 although I would be surprised if Drops was a blow out given its Canadian, Bixby and Edwards home territory!

I was pleased with the recent news from SatoshiPay and while I understand the frustration many shareholders feel towards Meinhard and his team, this move plays far more into the strengths of SatoshiPay which is a strong tech business.

If you read the announcement copied below, I see some interesting implications;

“SatoshiPay advises that the Stellar Foundation grant will be used to kickstart the development of the Pendulum network project and develop a proof-of-concept implementation of Pendulum. After completing the initial proof of concept, it is expected that Pendulum will be further developed into a full-fledged decentralised layer 2 blockchain that will be accessible for everyone.
The Pendulum network is a new second-layer blockchain that connects Stellar to the wider Deconstructed Finance (DeFi) ecosystem by adding smart contract support and bridges to Ethereum and Polkadot.

In order to bring more complex features to the Stellar network without sacrificing the network's efficiency, SatoshiPay is planning to build Pendulum, a suite of open, decentralised protocols on which smart contracts can be developed and executed. The Pendulum chain acts as a second layer on top of Stellar, with additional bridges to two of the most popular smart contract platforms, Ethereum and Polkadot.”

In order to achieve the above it is most likely that SatoshiPay will launch their own utility token (ie their own currency). This development is key to the success of Dtransfer and would be a major step forward for the company generally. In my opinion, it would unquestionably increase SatoshiPay’s valuation, potentially very significantly.

Given the solid base provided by Dyansty and Guild (together worth on latest valuations over £7m), Blue’s current market cap of approx. £8.5m, looks very good value.

Finally, my understanding is that the remaining 0.175p warrants lapsed on Tuesday , just leaving the 0.25p warrants which expire in November.

As before, these are my own thoughts, I have not spoken to anyone at Blue. GLAH

Good to hear Derek promoting Satoshipay and our Esports investments. He mentions the increase in our NAV and what good value BLU is due to the large discount to NAV it is currently trading at.

Are Alok Sharma’s calls to abandon coal simply a fantasy? Is the headline in the Independent
Asia and Africa are determined to use coal as the basis of their drive for prosperity. While America and Russia continue to feed the growing global appetite for the fossil fuel, surely the end of coal is nowhere near?

In fact, we may well witness a renewed global demand. Alok Sharma may be in charge of the UN’s green jolly in Glasgow but his pompous demand that aspirational Asia bins its coal plans make Cop26 look out of touch.

Energy demand indicates his call to abandon coal is simply fantasy. China funds the majority of all new coal plants being built globally while the 60 new coal plants planned across Eurasia, South America and Africa are reportedly financed exclusively by Chinese banks.
With its “belt and road initiative”, China works with numerous countries with fossil fuel technology. Many are developing nations relying on its help, as the UK and so many other advanced countries start to cut their aid budgets.
Nations such as Bangladesh, China, India, Indonesia, Japan, Madagascar, ****stan, the Philippines, Malaysia, South Korea and Vietnam are not in a position to trifle with the Heath Robinson devices promoted by our bien pensant.

Criticism of western arrogance is on the rise and may be the memory most have of Glasgow's UN climate summit.

I seem to remember from Ed’s last chat that a couple of investments which could be new or top up of an existing one were imminent. I am expecting at least one investment this month. I agree he needs to create some momentum in the run up to the Leap IPO or sale. We know from EMMAC that such a sale could happen out of the blue on any morning.

The important point about the SAG mill which the 2024 glass half empty brigade have chosen not to mention is that due to the imminent arrival of the Sag Mill we should have permission to commence construction of the mine in the next few days. This was the trigger we needed to apply to the Government. This will move the project forward and make it possible to accelerate the project. The New broker will now get a strategic partner and financing sorted or perhaps what usually happens at this point a bid or bids for Condor.