Member Info for Krayl49

Sorry - meant view from vxrandall

Thats a very pessimistic view from poni - presumably from bitter past experience, but my view of the current situation in Australia, and possibly even in Georgia, is very positive. I think that this is a good time to be in a company of such small capital value and large assets.

Enrico - there isn't really an 'average' volume of trades. None were traded yesterday for example. I have had no problem trading the share and get usually get quotes up to around 300k shares.

I only received my shares today, so not everyone has yet had the chance to sell

Talking about not receiving shares....
I got into an email discussion with PrimaryBid when I first bought the shares as they needed my Barclays account number, and it didn't fit the format of their form. They sorted it out and they talked to Barclays. I still haven't received the shares but Barclays know they are coming. I emailed PrimaryBid again and they qucikly reponded that they are due in my account tomorrow. So, if you have any problems - email PrimaryBid .

Entelon - Great research about Richard Griffiths. The list of his total holdings adds up to around $400million. He recently sold a small part of his Silence Therapeutics holding for around $20million. (He is British but I was using and American research site).
Looks like an excellent man to follow!

Nothing arrived at Barclays

I have not been able to transfer shares from PrimaryBid to an ISA account - you would have to do a Bed & ISA once you have them in your account.

With Bed & ISA you only lose the spread, and if the broker is any good they will minimise the spread.

'Remember to forward your allocation e-mail to your broker though'
Talked to Barclays about this but they don't want the email. PrimaryBid contacted Barclays and are sorting it.

Typil, WK etc are all good prospects and I thought the BoD would want want to pursue these (out of interest even if not just for profit) and so I was surprised that the emphasis now seems to be on selling the company rather than the MT assets. Or maybe the directors are still going to stay on and run the company as a subsiduary?

I agree it is not the normal shafting of PI's. At least we got the chance to subscribe on Primary Bid. I was fortunate enough to be able to take up the offer and should do quite well out of it - but many will not have had that chance.
Also, I can't see how 'delaying' the chance for the directors to buy gets round the rules on buying during a closed period - they have already stated they are going to buy the shares at the placing price.

At close of play before the placing there were 1,172 million shares in issue at a closing mid-price of 0.98p which is a share capital of £11.5 million.
The placing is 5.85 billion shares at 0.25p raising £14.6 million (although it is difficult to reconcile the figures provided)
That gives a new capital figure of £26.1 million. There will now be 7 billion shares in issue, which on the old valuation gives a share price of 0.37p.

Taking the share value of the company before the placing and adding the new cash the arithmetic would give a share price of 0.37p. Investors are clearly adding value because the company is now financially secure. I was heartened, and a little surprised that the share price held up today and it does look like the prospects are good.
A large part of the capital is now held in cash, so the critical factor is how good the BoD is at spending it.

Agree slip of the pen with 7 million instead of what was obviously 7 billion, but I think the rest is close to right.

At close of play yesterday there were 1,172 million shares in issue at a closing mid-price of 0.98p which is a share capital of £11.5 million.
The placing is 5.85 million shares at 0.25p raising £14.6 million (although it is difficult to reconcile the figures provided)
That gives a new capital figure of £26.1 million, though as the company is now much more financially secure we can add to its worth. On the other hand a lot of the assets are now in cash, so it is very dependent on how good the company is at employing the money.
There will now be 7 million shares in issue, which on the old valuation gives a share price of 0.37p. The actual share price at this moment is 0.40/0.45 which seems reasonable.

Applied for 7 Million shares to double my holding. Got an acknowledgement of acceptance which said:
'Once the Offer has been completed and publicly announced, all investors will be notified of their allocation of shares. In the event of a scale back, we will refund any excess funds to you within 5 working days.'

I hold a large number of shares and have always been very positive about the company. Now however I am getting worried. I think it possible that the board intend to delist, go private and then buy us out, using capital from their new friends at the Bank. That would increase the board’s holding from 20% to say 50%. In this scenario we would not lose our money but may be offered no more than the existing share price. It is difficult to argue when the company is not listed. The board and the bank could then take the large profits when MT is sold– could be $1Billion to each party. If the board are conning us then the polite, helpful replies to phone calls and emails is exactly what you would expect.
I hope I am wrong.

I read the RNS as an intention to wind down the company. As it has a share price of 25p and a NAV of 70p this is brilliant news.

The approval of the flanks licence seems to be have been lost somewhat in the recent discussions. It was mentioned in passing in the latest RNS (as below). Previously this was the big issue that mulltiplied the value of the company severalfold, and we were expecting an RNS as soon as it was approved.
We have a ton of good news and a few carping points (Nomads don't affect the value of the company) so lets just be patient and wait for it all to be resolved.
I own over 6 million shares so I have a large vested interest in how this turns out.
'Approval by the Federal Security Service (FSB), the last remaining federal body, whose approval is required for the flanks licence application, was also subsequently confirmed to the Company by Sevzapnedra. The Directors expect the license to be issued by Sevzapnedra soon as per standard process.'