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Gaming has been growing at pace in the US as more States legalise it and the value of Leap increases on the back of this. Some very large states are close to legalising gaming which is going to accelerate the growth in Leaps value. Very exciting times for FFWD shareholders.

If you had read the presentation advert properly you would know that I intended to write CoinShares of which Danny is Executive Chairman. It is fact not speculation that CoinShares is involved in DeFi as you can see from their website. Dtransfer are using the same technology that Satoshipay developed for micropayments in a more profitable business medium. It looks a good plan in a fast changing marketplace.

Is it not the case that Danny Masters knows all about DeFi through his company Coinbase. It seems a natural progression for a digital blockchain transfererer of money to offer digital lending. It’s new but activity is growing. It sounds very interesting to me and companies are listing on NASDEQ.

This is what Derek had to say in the Portfolio update on 6/5/21:
SatoshiPay



SatoshiPay is a fintech company supplying payment and money transfer infrastructure based on blockchain technology to digital industries and globally operating SMEs. Having initially focussed on building a micropayment infrastructure and platform the decision was taken just over a year ago to use the same technology and experience to move into B2B cross border payments service for businesses. The reaction to this new product has been positive and the Board are encouraged by recent developments.



SatoshiPay announced the launch of its B2B payments platform DTransfer in September 2020 to facilitate cross-border payments for businesses by integrating currency exchange into each transaction.



In December 2020, SatoshiPay announced it had signed an agreement with German Bankhaus von der Heydt to become the first user of the bank's fully compliant Euro-backed stablecoin ("EURB") which it is integrating with DTransfer.



This agreement provides SatoshiPay with a stable on and off-ramp for EURB transactions with instant EUR-based bank transfers within the Single Euro Payments Area (which comprises 36 European member-states) allowing users with an easy solution to instantly send and receive euro-based payments.



The Company awaits further updates from SatoshiPay and will update the market in due course.



To date, the Company has invested approximately £1.9 million in SatoshiPay. Based on the value of SatoshiPay's last fund raise, Blue Star's investment is valued at approximately £4.9 million.

BLU as the largest shareholder will have seen the presentation for Investors so Derek should know what is happening. The other comments on here would appear to be pure speculation unless someone can confirm they have seen the presentation. No reason to present to a wider audience until they wish to IPO.

As Guild moves above its IPO price it’s worth looking at the portfolio review from earlier this month:
Guild Esports plc ("Guild")

“
Guild was admitted to the Official List and started trading on the standard segment of the London Stock Exchange in October 2020 to take advantage of the growing esports markets. It is Guild's intention to create a leading global esports franchise by establishing its own teams, player training and talent scouting and associated management of branding, advertising and media rights.

Since its admission to trading, Guild has already achieved a number of important milestones, including attracting a number of sponsorship deals including Subway, a European fintech Company and Hyper X, a gaming peripheral brand. Further Guild has launched merchandising opportunities including in-game decals and a clothing range.

Guild has continued to expand its team and player signing, with both team acquisitions and the signing of top-ranked players to compete in tournaments for games such as Fortnite, Valorant, Rocket League and FIFA. In March 2021, Guild won its first major trophy in the European Grand Finals of the Fortnite Champion Series, which was followed by a second trophy win at the EU Spring Regional Rocket League Champion Series in April 2021.

Blue Star has, to date, invested approximately £706,000 in Guild, and holds approximately a 5.95 per cent of the issued share capital of Guild valuing its investment, at the current share price of 6.65 pence, at approximately £2 million.”

So on 6/5/21 our investment was worth £2 million and today it’s worth £2.5 million.
3.5x the amount BLU has invested. Well done Derek!

For those of us who have not yet picked up our Sunday Times can you be slightly more enlightening about what the article says and is it in the business section or news.

I think Book5 on the other bb has highlighted a very significant point in his report on last nights presentation:

“By default we may get permit to build the mine if in around 3 weeks we don't hear that the government opposes. We have told the government we have started with the construction phase even though we have not yet fulfilled all conditions. Great news, if successful this will mean our permit has been upgraded and EXTENDED (?) from exploring to construction! a rns will be issued if we received official notification to carry on building.”
I recall Mark said he had been told by a Nicaraguan Government official to go down this route. I am sure he would not have mentioned this unless he was sure he will secure the permit to construct the mine. Clearly that will coincide with the Sag mill starting to arrive on site which is starting to build the mine.
That is a major step and further suggests that the last 5% of the land is not a problem.

Mark said the last 5% of the land is not a problem but is taking time because CNR doesn’t agree with the price being asked.
Some of the other snippets are rather cryptic such as speaking to First Majestic 10 days ago and saying they are very keen on the project. Also Mark would like to do toll mining and the door is still open with Calibre . Various news is clearly imminent and the presentation was upbeat.

It may be a dream to you but according to our CEO that £50 million valuation will be a reality for FFWD by the end of this year. Remember he sits on Leaps board so will know it’s likely sale price when he makes his statements.

If the news tomorrow is to be spectacular or just material it will need to be released by RNS first today or tomorrow. Let’s hope it comes as we haven’t had one so far this month.

Not sure how the other deals are set up but the Government of Morocco have 25% of CHAR’s field which should apply their mind to this massive project succeeding and ASAP.

Another quiet day at Condor but Gold has just risen rapidly to 1810.

I am sure discussions have been going on regarding the value of Leap but it won’t in my view have been finalised. It is my understanding that companies like Leap will be valued on a multiple of revenue which could start at 7x but could be above 20x. So while they could have agreed a formula the final price will depend on the revenue figure they decide to use. If you remember Ed’s comment in a presentation he said that at this time revenue increasing was more important to Leap than profit.

Let’s get this in perspective CHAR has a massive project and the main terms of the license were agreed as set out in the RNS on 15th December 2020. CHAR have 75% and the Government of Morocco have 25%. Since then 2 further agreements have been put in place including this
Collaboration Agreement with Subsea Integration Alliance

Fast-Tracking Development of Value Accretive Anchois Gas Project

Chariot Oil & Gas Limited (AIM: CHAR), the Africa focused transition energy company, is pleased to announce that it has signed a Collaboration Agreement ("Agreement") with Subsea Integration Alliance to work together to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois Gas Development project in Morocco. Subsea Integration Alliance is a nonincorporated strategic global alliance between Subsea 7 and OneSubsea®, the subsea technologies, production, and processing systems division of Schlumberger.

Chariot and Subsea Integration Alliance will adopt a "One-team", integrated and collaborative approach to safely fast-track first gas to maximise the return on investment.
We were promised regular news flow and investors are now thinking no news for 2 months is starting to stretch that commitment to news. However in the big scheme of things it’s a frustration rather than a problem.
We have in the meantime bought a renewables business which has a partnership with a subsidiary of Total. Now this is just speculation on my part but what if as they now have a link to Total, they could get Total as the farm in partner. Total have just had to close down a gas project in Mozambique so may have a team looking for a new project in Africa.

You will note the exclamation mark at the end of my comment. I was not suggesting that there was a direct link between a rise at EDR being mirrored at Leap. My point was a substantial rise at EDR should enhance the value of Leap which is clearly very important to IMG Arena and hence to its parent EDR.

Chester
You make a very good point and it is difficult to see the 400000 Buy on Friday as anything other than very positive. For a fund that has 116 million shares to buy more shares when the price briefly dipped is sending a signal. They have a non executive Director on the board and it’s good to see them buying as its some time since we had formal news. I also topped up today on the back of their purchase.

If he saved BLU a number of years ago it must have been because of Satoshipay as BLU has only been in Esports for a couple of years. You keep repeating your opinion on Satoshipay but it is not substantiated. Do you not think Guild’s performance since it’s IPO may be having an effect?

Now Up 5.7% on volume of 866000. One does have the feeling that it would be higher if it wasn’t so difficult to buy which has been reported on more than one broker site this morning.

Up 3.4% on volume of 350000 virtually all buys . It took me 25 minutes to buy on Barclays in the first 30 minutes of trading. Has anyone else encountered this problem?