Member Info for mattlilly

Open Offer shares of 71,993, 297 at 1:20 equates to Qualifying holdings of 1,439, 865, 940, so that includes all the Big 3. XGC, Orion and Traf held 205, 865, 181; 207, 954, 787; and 278, 594, 997 shares respectively, totalling 692, 414, 965 so the entitlement they did not take up would be 34, 620, 748 Only 26, 399, 206 shares were NOT applied for, which means that the UNDERLYING Open Offer for us ordinary mortals was oversubscribed by 21% ... That's about 1 for 16. Personally I applied for 30% more in total, PLUS the ones I bought on 28 May at 4.79 when the OO was announced, just in case I was underallotted. In fact we shall all be fully allotted and I intend to keep my 1.5 million indefinitely....

Good man. The resource update will be pretty much certain inside theccompany and the big 3 will know it is a huge improvement so this will have some bearing and may have been a factor in drawing in outside investors. It is pretty much waiting for official verification before it can be published in a RNS. Meanwhile, how can someone buy 700k at 5 and thereby reduce their average to 4....LOL...that maths is beyond me. (I have 1 million at 4.2 btw).

Up 25% on TSX at .10 (5.4p)

Can't believe there is so little reaction.... Resource upgrades coming both on and outside the property AND "The Company has agreed non-binding terms with regards to an equity financing structure with several parties, principally including these investors and intends to enter into binding documentation by mid-May 2015." Deal done and announced in a week or so. Naughty late buys.....

As I understand it, from s/o who attended, funding is 'very close' and will include an opportunity for PIs to participate... Also, a resource update in 2 months (just waiting for independent verification) and ore from the ground late August/early September.... What is there not to like?

I actually made £3,000 in total, having at one time had £52,000 of PINN's shares, but I saw the writing on the wall, baling at 20+ I've read Nick's cv; a very impressive list of companies but he's never been a CEO... If you've followed me before, you know my view, this company will get taken private... Best wishes

Hi Korg First,I've never been angry, just sad really because a lot of my friends have lost serious money in PINN Can you point to where the report says cashflow is positive since March? NET cash balances at 31 March were actually £499k Net operational cash outflow before financing activities for the 6 months to March was £418k Now how do you turn that round in 3 months and avoid a cash call? Cheers PS as a former plc GFD I know the difference between liabilities and cash flow....but sooner rather than later CURRENT liabilities have to be paid off..... GL

Cash at 31 March £575k Net CURRENT Liabilities at 31 March: £500k (£2669k-£2169k) Simple maths Cash call coming.... if Nick really believed he would have bought more than £10k.... (unless he's buying cheaper in a placement...... Genuine best wishes to all. I waited 4 years and gave up..

I cannot believe all the people on here and ADVFN that are so deluded..... 20% FALL in revenues....20% RISE in net losses at £1.1m! Cash down to £575k 3 months ago.... What earthly reason is there to believe this can be turned round any time soon and in any case without a Placing in the next few weeks? The BoD turned down Dave Breith's offer at 21p because they are incompetent. Even at 9p now, were they REALLY looking after shareholders best interests?

Fair enough. Good luck.

To be precise: 2013 EBITDA (£769103) = Loss £2,435,468 therefore EBITDA 'breakeven' would have been Loss £1,666,365....

"EBITDA neutral" is not the same as "breakeven". The difference was £1.4m in 2012 and £1.6m in 2013....

Shocking simply shocking EBITDA breakeven is still a bottom line loss; £500k at the end of September means a placing is imminent... Last comment...

Somebody bought £1386k at the death!

Sorry TheRobster but uncharacteristically every element of your last post is utter rot! You're implying for example that algorithm trading isn't based on Technical Analysis...OR that there is no algorithm trading in AIM shares. And THERE IS NO WAY THIS COMPANY IS GOING BUST! To claim that means you frankly don't understand the masses of background information. JB would buy this himself before there was any chance of it going bust...

The vast majority of those "SELLS" today are Buys! MMs tweaked the spread to 23/27 so that they fell below the mid price. But you can still buy at 25.24...if you're quick...cf Rights price of 24...

WAS Don't overlook these two key pieces of information: 1 The Record Date for existing shareholders has passed (5 December), so you can only participate by buying in the market... 2 This statement from the ASX Compliance RNS is HIGHLY significant: "Effect of the Offer on control of the Company As the Offer is being made as a pro-rata rights issue on a 1 for 1 basis, the maximum number of new Ordinary Shares which may be issued under the Offer represents 100% of the share capital of the Company currently on issue. Accordingly, the Offer could have a material effect on the control of the Company. By way of example, the most significant effect which the Offer could have on the control of the Company would occur if the largest Eligible Shareholder takes up its full entitlement under the Offer and no other Eligible Shareholder subscribes to the Offer. In these circumstances the largest Eligible Shareholder's holding would increase from 9.46% to 17.28%." That "largest Eligible Shareholder" is....John Byrne...so at WORST he will end up with 9.46% of the company if he takes up his entitlement and at BEST 17.28%. He made shareholders (including himself) a fortune out of Western Coal, which he built from next to nothing... http://www.thisismoney.co.uk/money/investing/article-1723929/Small-caps-focus-Byrne-thinking-big-at-Wasabi.html

"Which is why I doubled up again PRE the Rights at sub 24." And I've managed to reduce my average to .269 for almost 4 million shares.... Check LSE and ADVFN...I've been in these a very long time, selling, buying back doubling up, averaging down... I lose no sleep over this share...this one will buy me a new Jaguar...patience... Byrne has 352 MILLION shares and almost 24 million Options...that's a £900k commitment...good enough for me!

WAS being bought even before the Rights issue concluded.. DIARISE THIS NOTE: WAS has the potential to make QFI look like a tea party in comparison. All you need to do is look at the MASSIVE inverted pyramid of projects they have lined up on a Market Cap of only £9 million. And check out John Byrne's phenomenal track record... Which is why I doubled up again PRE the Rights at sub 24. We will need a new descriptor beyond multi-bagger...MEGA-BAGGER... DYOR please and GLA

These are the key statements...these funds will make the company cashflow positive: "it is the directors opinion that given the value accretive opportunity presented by increasing the Company's support of its two major subsidiaries, Imparator Enerji (Imparator) in Turkey, and Wasabi New Energy Asia, it is important at this time that the Company retain as high an interest as possible in these subsidiaries as they grow their business and pipeline of projects. This rights issue will bring the required funds for Wasabi Energy to achieve these objectives and in the long term provide strong returns to our shareholders." and "Turkey - Imparator Enerji The Offer will allow for sufficient funds to be invested into TGPP to take it through the refurbishment of the existing operating power plant and combined with the funds from the disposal of the non-core assets, for the bankable feasibility study for the 30 MWe build out at the TGPP and its anticipated equity contribution for the build out, following which the TGPP is expected to provide additional cashflow for the Group. Wasabi New Energy Asia The Offer will provide additional near term support to Wasabi New Energy Asia (WNEA), by way of secured loans as the underlying business in WNEA is growing. By providing this support the Company will be in a strong position at the time of the IPO of WNEA to either receive funds back to it, or to convert into additional equity in WNEA, thereby strengthening its ownership position. Sale of Non-Core Assets and Regional Subsidiaries Having paid out the Secured Loan notes, the Company will be able to realise further funds from the sale of its non-core assets in an orderly manner. "