Member Info for Kewben71

Do forget Bergen May carry 10% of the vote

T2B drawn because the company needs cash and they have a working facility.
Sure if the offtake begs are in good speed maybe not but I am sure that will take months for the facility to be done

Given PI holdings I believe apathy will carry

Expecting a cln RNS this am for Bergen T1B volume looks to be suggesting

No answers yet from Q&A poor. Fully expect all resolutions passed

Will company draw T2B? I know Bergen have option not to fund but why wouldn’t they release?

Agree money to be made but it sure it will be for a while... part of me hopes I am surprised with an Rns this week confirming some funding progress but fear nothing coming through until after EGM

We shall see.

Looks like conversion price settling at 0.0015.
Few raided the piggy banks today.
GL

Given today’s volume and assume price Holds looks like Bergen are going to get conversion at £00.145

If the conspiracy theorists suggest forward selling then sells at £0.0015 turn a profit of £25k

So the reading no shares for Bergen T1
They have £800k left to convert
At 92% of average vol weighted 5 day price

Day 1 160m @ .0017
Day 2 100m @ .0016
Day 3 330m @ .00155
Day 4 75m. @ .00155
Day 5 50m. @ .00155 ( today estimate)

Price .001589 X 0.92 = 0.001461
£800,000 / 0.001461= Circa 550,000,000 new shares

Given the current SP looks like they are on their way

Not sure I want a Friday afternoon RNS.
They just never seem to bring good news

Looks like AP looking to continue to dangle the diamonds and therefore need the 2bn shares.

You either trust the board or you dont.

With respect to the Zim decision to award to Russia and China given the recent geo political commentary especially regarding relationships with the US and broad brush “The West” it really isn’t a surprise is it.

Not really comfy that there is a continued suggestion not just the 4 to be awarded but Red M will no possibly.... potentially... be awarded.

Doesn’t fit in with what is being said to Zim media....???

Thoughts....
Day 1 130 m @ 21
Day 2 160 m @ 17
Day 3 100 m @ 16
Day 4 330 m @ 15.5
Day 5 150 m @ 15.5 ( today estimate)

Total 820 m shares for £1.44m
Average weight 17.67
92%. = 16.26

Getting closer to the current price and you estimate Harhoo

Got to feel sorry for AP having recently bought 5m shares to see the value halved

I have used the “contact us” function under the Marange pojct to ask for comment on recent media reports
a) impact on resolution for 2bnshares
B) comments on media reports
C) impact on JV

Suggest anyone else interested doe similar

Anyone else taken a look?

Oh dear.......
What happens to request to secure 2bn shares for loan security?

Could they still fancy them for plan F?

Board MUST comment on this

Why converting 1/3 at a time??
Currently 6bn shares in play
Required to confirm over 1/3 which happens to be 180m

Last tranche was JUST under

Interesting to see what they convert this time

The original conversion RNS said expected shares to enter AIM for trading today

Would have expected a noteto confirm

Day 1 350m @ 21
Day 2 135m @ 21
Day 3 160m @ 18
Day 4 100m @ 17
Day 5 350m @ 15.5 (today estimate)

1.095bn shares traded av cost £2.02mm
Average weighted price 18.4
@ 92% = conversation price of 16.9

This equates based on another 1/3rd of T1B as 236m shares... double it it they clear T1B

Whilst the conversion price for Bergen is volume weighted all the cross trades are screwing with this.

Ugly and mark of who we are in bed with

How about AP using remaining cash to clear T1B

Any forward sold would be in a bit of strife. What impact on SP then! Would love to see it. I take your point Ian re shorting but also believe shares are being forward sold.

Bergen would enjoy sourcing shares to cover!

Assume immediate rise and then place following resolution at a value more “acceptable”
Fantasy I guess as using all cash to bolster SP is not likely... but not a bad dream!

To be admitted today I assume?

the Company has agreed to ensure that there are no less than Shares of £592,000 nominal value authorised but unissued available for issue to enable conversion of the initial Convertible Security (approximately 10% of the currently issued share capital) What happens if they cannot ensure this?? Wonder what the default clauses say and consequences for the company...

Out of interest what available share does the company have for Bergen to convert??? At what price do the not have authority to issue?