Member Info for icemax

1. Cash in the bank
$20m including OO and Placing

Bottom line: The OO and Placing was mainly to pay legacy debts.

So which is it?

And where do you et the £20m in the first place. Unless I have missed something, we have not had a clear, transparent reproving of the cash / balance situation.

I assume you hold your shares with a trading platform, rather than paper. If that's the case then simply you'll see the new name against your shares. If you do hold paper certificates, they still remain valid.

willec, 3.5p is the average placing price, after allocation of shares in lieu of financing costs, not the bottom price.

3.5p.

I actually had a slightly different take on possible concerns, that oil becoming more profitable over the past months might have made things more difficult. I think the fact that oil is 'falling out of fashion' can only play into LBEs hands.

I would hope that one way or another we get some kind of progress update on or around the 28th, rather than simply a rns at or around that time to note the date of the next AGM and an acknowledgement that a continuation vote needs to take place.

Should we not also take succour from the fact that the level of II interest seems steady?

Regards the book build, the face value price is 0.35p, but these will be discounted to the bucket shops. It's then a question of what the actual floor is, rather than the face value.

As a johnny come lately, I have to have sympathy for you guys. But I can't help but strongly feel that the increasing mood noises and the hires signal that the bilateral discussions are advancing afoot. I just hope that shortly prior to the AGM we might start to get some smoke signals. I'm probably in deeper here than a balanced portfolio deserves!

In fairness, it's simply a chunk of the current placing, so expected.

I suspect that was a very large chunk of the 149m placing (a sell). On the positive side it does mean less overhang to add to the upcoming placing.

You can get a quote to sell by putting in a limit order, no? We know that it takes only a few buys of any volume to wipe out a float at a given price. Added some today, and I'll add again ahead of the agm if this dips below 80p.

You can spread bet on nearly all shares on AIM, and being able to bet on a price fall for bpc is nothing new. I doubt the volumes are sufficient to overly influence the SP.

NOFEAR, agree, and please forgive my slightly fat fingers towards the end of my post!

Hey Patoir, nice post. The 0.35p will be an average achieved throughout the day, as it's an aggregated trade (not an after hrs trade as some conclude). As the price is the placing price for the shares, and as that fell in the middle of the low and highs for the day then the balance of possibilities is that it was a sell. But as said, we know there are currently 149m shares to be placed, so it's no surprise and means nothing more than that.

Good luck in what you do.

What I know is that you are referring to the algorithm that LSE/ADVFN uses to report whether a trade is a buy or sell, not the actual record of events. Other L2 systems will provide other results, depending on the algorithm. For a share like hbr, which tends to have decent volume and tends towards narrower spreads, then the accuracy of reporting is improved, but it's not fallible. Case in point is that one of my buys today was recorded as a sell. Most of the unknowns today were buys btw, you could see that from the s when spread when the As were going through.

GarryGraham https://www.youtube.com/watch?v=Os5ks4RhEPA

0.375 Low: 0.325. 149m shares to shift @ 3.5p.

Just saying.

Nope, plenty of bids above .35p, you cheeky little person. There's no embarrassment in it - everybody knows about the 149m placing that's underway. If there was ever a nailed on sell, then you are looking at it. But buying some tomorrow will help them out a bit, go for it.

mcadder, don't be a silly billy. It was simply part of the 149m placing, and sold over the course of the day.

Waste of time looking at algorithmically produced buy and sell totals. I think what was more interesting today was a progressively higher set of automated buys pushed through after the sells.

Nelly B, there was in fact something like a $7m shortfall in funding across the funding piece (all capex and opex), and which had nothing to do with the court case. They effectively went into the drill $7m short, but then racked up a similar overspend in drilling and legal cost, and hey presto you have your $14.5m overspend.