Member Info for Kammy18

Trying to get my head around the fund raise and how peeps think sp will go to 1.09p or below

Keep things simple

Friday, 5.3b shares in circulation, lets run with 2p, therefore MC = 106m

Issue another 590m, at 1.09p, that gives us appro 5.89b shares

Add the £6.4m raised to the MC on Friday (106+6.4) = £112.4m

Divide new MC by total shares in issue (112.4/5.89b) = 1.9p new sp

So, in my simple thinking, all things being equal, the SP should be around 1.9p, apart from some bad news, why will the SP go to 1.09p or lower tomorrow or the day after once the new shares come onto the market?

Thanks

ATB

Kammy

InvestAce, the short answer is No, Tillywhiz and many others are staying away from EUA, what would be the point of posting on a suspended share?

I occasionally have the odd round of disagreement with those who hold different views, otherwise there no activity.

I'm sure you've read the RNS today, there is now a clear timeline and what needs to be done and by when, one way or another there will be a conclusion of some sorts.

Lets focus on HE1.....

Kammy

As a geologist, she is highly regarded and endorsed by her peers. Having spent time with Tullow, African petroleum Lorna has detail and deep understanding of African geology, she has certainly delivered at her previous roles.

Having said all that, she needs to get rid of her FD and bring in someone astute and finance savvy.

Kammy

Theofficecat, totally agree. Tygra sold up at a loss and I remember his never ending moaning/complaining.

No point blaming others, we're all responsible for decision making and pressing the 'Buy' button.

Meant to type £115k/year

Would you work for nothing for the next 20 years on the premise that there will be a lump sum for you start of year 21?

If they didn't work for EUA, they be somewhere else, that's how the real world works. They too have families to feed and look after, just like you and I.

I challenge their performance, I can't begrudge them taking salaries. If you want to begrudge someone taking a salary for 45 days work, take a look at Liz Lettuce Truss, she's on some £115/year for rest of her life because she served as a prime minister, what value did she create?

Kammy

Guys/Girls,

Can you just give it a rest, it doesn't matter who called it right, who is right or who is wrong. The share is suspended, we've had an RNS, and now we have a clear timetable, what needs to be done and by when.

200 plus posts debating the in's and out's, of what exactly?

When we get to 70 plus years of age, we're not going to think back and say 'wish I had more time to post, or wish I had posted more', we're going to be wishing we had spent more time with our loved ones.

Just switch off, have a bit of banter until the next RNS

Lets assume they let this run and eventually hit the buffers, money runs out, and or gets de-listed.

The BoD have a lot to lose, lots. It feels like that they have and must do something to save their own skin, let alone our, for me that is the only comfort here.

I was looking at HE1 director holdings, the highest holding was 10m shares (not money), peeps hold more, here we have the following holdings (can't remember any TR1's to state otherwise).

No. of shares No. of shares

C. Schaffalitzky 89,569,517 81,069,517

D. Suschov 465,647,496 455,727,496

G. FitzGerald 23,378,445 23,378,445

Total 578,595,458 560,175,458

I've just emailed the company, the crux of my email was on the lines of:

Good phase EWT results...but

Why the need for an acquisition

Poor timing of acquisition

Huge discount

Further dilution

How is the board going to restore lost trust and credibility, and pointed the recipient to LSE BB.

Obviously the email was tarted up a little, but left the recipient in no doubt the anger, disappointment and frustration across the retail investor base.

Whether it gets read or not and reaches someone at board level...who knows

Kammy

Sorry, are you saying those who bought in the fund raise at 1.09, will sell below 1p?

Surely, those holders will be looking for good 50% return?

Unless of course, they forward sold?

Its becoming more and more of a riddle...LB has questions to answer, buck stops with her.

Kammy

Beesty69, you report my post, for what reason?

Lol

Kammy

An acquisition should be an asset and not a liability.

Blue Star is not going to provide an immediate revenue stream, no doubt it will need more funding, and overall it will become a distraction for the BoD. Managing one business successfully to monetisation is a challenge, taking on a 2nd business is bordering on insanity.

Its easy to spend someone else's money and that's exactly what LB and the team have done here. According to accounts available on Companies House, 2021, director/admin costs were £3m (6 directors in total, plus senior Mgt). Also, at the time of accounts, the largest director holding was just over 10m shares, many many peeps hold more.

Lets hope LB and the team realise the clanger they've dropped, the anger amongst the retail investors and pull their finger out to stabilise and uplift the SP by delivering against key milestones, in a timely fashion.

Kammy

Richard98, I applaud your enthusiasm and energy. I am a holder too, been in since early 2019, and I too would like a sale, so this saga ends once for all.

Sometimes we have to be a realistic and see things how they stand, not how we want them or expect to stand. The current situation is pretty dire, definitely red zone territory.

Yes, some lender may lend, it'll come at a rate and a half, that may be enough for accounts to get signed off and get published, thus no fear of de-listing. The same lender may lend enough (working capital) to see us thru to a sale.

Right now we're in if, but, could, should, perhaps, might be, this, that and maybe territory. Anything is possible, but we have to realistic too, if the BoD can't pull rabbit out of the hat, then I'm afraid its all over.

3 months to find funding to avoid running out of cash, and another month to get accounts signed off and published to avoid de-listing (max lead times).

One has to ask, where's the funds and why can't they access the funds which they transferred into the subsidiaries?

Plan for the worse, hope for the best.

Kammy

Hydro888m tool and jerk, binned

Hydro, does your childminder know you've gone missing?

I agree with your thoughts.

Lender won't be interested in holding a charge over resource in the ground, how the heck would they monetise it considering EUA failed to do so.

So, if a lender does lend, they will be privy to future income (sale of concentrate, or outright sale), as you say, it will be a big green signal.

Kammy

With due respect, there are endless companies out there with huge potential. The challenge is always the same, monetising the potential, and avoid dilution and smokes and mirrors along the way.

This time last week HE1 had huge potential, expectations were sky high for EWT results, results came out, pretty decent, but lacking detail. Had the BoD not issues a 2nd fund raising RNS, perhaps the SP would have got over and stayed over the 2p mark. But no, the BoD decided to fund raise bit over 1p, Fridays opening SP was 2p, you do the maths.

AIM directors are the 21st century highway men (or women, or any other gender), they are well polished, spoke and well connected in the financial circles.

The likes of you, I and and private investors are a means to and end.

Kammy

Is that the same TYM, down 15% today, thanks for the heads up...good god!

Hydro888, what's the basis for your £1.50 prediction? At that price, MCAP would be over £4.5b.......I'll have whatever you're on.

Kammy

For sake of all invested, I really do hope the BoD pull rabbit out of the hat.

In a way, they now have to act fast and decisive, no more jam tomorrow, its now or never. I think there is a degree of certainty they will pull this off in some shape or form, but damn, they have left it late.

Talk about JIT (Just-In-Time) philosophy

Kammy