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mick-b,

Matt's daily 'Money Stuff' newsletter is worth subscribing to; they normally come though at about 18h30 on weekdays.

https://www.bloomberg.com/account/newsletters/money-stuff

https://en.wikipedia.org/wiki/Matt_Levine_(columnist)

Matt Levine's article about this is worth a read

https://www.bloomberg.com/opinion/articles/2021-10-21/matt-levine-s-money-stuff-donald-trump-does-a-spac

If you want to know about how the Grift works then Trump used to have a university to explain it...

https://www.google.com/finance/quote/RBD:LON?window=6M

damp squib?

The indicative terms provide for a four year amortising loan facility of up to £12million with a 12% margin over LIBOR, a 3% commitment fee payable out of the facility, a share grant of 30 million shares in Angus, issued over the life of the facility and an override of 8% on gross revenue following repayment of the facility.

Ascendant Resources Inc. (TSX: ASND) (FRA: 2D9) ("Ascendant" or the "Company”) is pleased to announce that Clinton Swemmer, has joined as Vice President of Technical Services. Mr. Swemmer will contribute to facilitating the development of the Lagoa Salgada VMS project as it progresses into Feasibility stage.

Outstanding from earn in agreement:

VI. 48 months after the closing date: US$1.0 million

3. Ascendant then has the option to earn an additional 30%, totaling an 80% interest in Redcorp, the operating subsidiary, by completing a Feasibility study within 54 months and making a further payment of US$2.5 million to TH Crestgate.

The announcement from Ascendant does indicate they expect to take this forward and spend the money to complete the feasibility study as well as increase their ownership of Redcorp to 80%. which means another $3.5m to MAFL by end of next year in cash.

$3.5m = £2.54m. With just over 35m shares in issue that represents 7.23p a share in cash that the company can be expected to receive by the end of next year. Added to the last NAV update that would be over 24p a share. The company appears significantly undervalued.

The World’s First Solar-Powered Steel Mill Is Here

https://gizmodo.com/the-world-s-first-solar-powered-steel-mill-is-here-1847908119

ory. On Wednesday, a partnership called Lightsource BP—yes, that BP—unveiled the Bighorn Solar project, a new 300-megawatt solar farm. Most of the project’s 750,000 solar panels lie on the EVRAZ property itself, making the farm the largest on-site solar project in the nation dedicated to a single customer. The project was first announced in 2019 and is already partially operational. The companies say it will be fully online by next month.

Twisting story but interesting precedent - 'Pablo Escobar's Cocaine Hippos Are Legally People, Court Rules'

https://gizmodo.com/pablo-escobars-cocaine-hippos-are-legally-people-court-1847904417

Yeah, right, of course the oil at Arreton was going to give the UK 'energy independence'. A bit like the '50 to 100 billion barrels of oil' of national significance at the Gusher? Reminds me of SS's infamous words:

https://youtu.be/a2h2kWmf5iA?t=87

I buy Clipper tea from Ocado - they are out of stock of some Fairtrade and Organic varieties. People stocking up? Ghosts in the supply chain?

#middle_class_crisis

Some people are a little upset with the Tungsten mine... all someone else's fault that they bought. Maybe they were being threatened by Black Rod when they pressed Buy but it is more likely that they thought that they had also identified a winner...

Definitely led by donkies:

https://www.youtube.com/channel/UCS-rn3PHxRmk8rGz5DVSPJg

A very sad chart; if anybody has been adding 'on weakness' they could be sitting on catastrophic losses.

https://www.google.com/finance/quote/WRES:LON?window=MAX

"TRUTH Social" - and one of the Terms and Conditions is that they will ban you for excessive use of Capitols and yet use Capitols in the platforms name.

The irony... And the T&Cs allow them to change them simply by updating the website without telling you and that you are liable for any costs they might incur for pretty much any reason. The T&Cs also do not say you may not lie so can post about the theft of the elections, that Trump won, that Trump has big hands so has a big... etc. All hail the most clever person to have been born since Moses.

This was raised in the Zoom meeting and they mainly skirted the issue but the impression gained is that it is slowly improving with the improvements starting to be seen in Q4 and now flowing through into the new financial year. That is consistent with this statement in today's RNS:

'However, the overall result masks a material improvement in activity levels and in underlying* PBT during Q4, as a result of which Driver Group enters the new financial year with renewed positive momentum.'

The interims next year could be more interesting...

peronifund,

As I posted on the 2nd of June:

'Seriously - you guys think that the Market Makers sells 2 parcels of 360k shares and then drop the Ask by 50%?'

They clearly were not buys.

Not sure how anybody thinks there is a pulse let here... Choice quotes:

The Board of Directors announce that a Company director, Mr. Gert Viljoen, was arrested in the Republic of South Africa and has been released on bail. Although charges have not yet been formally put to him, the allegations appear to relate to over-the-counter sale of Umuthi shares, transactions over which the Company and Mr. Viljoen had no control or involvement.

A further update will be issued in due course.

In addition, a consultant to the Company, Connie van Nieuwkerk was arrested as part of the same allegation of over-the-counter sales of Umuthi shares. Ms van Nieuwkerk had no operational role at the Company. As a result of the arrest the Company has terminated forthwith the consultancy agreement with Ms van Nieuwkerk.

Trading Update

The effect of the COVID pandemic and various lockdowns has hampered the Company's ability to expand operations and advance supply arrangements in the initial planned timelines. As a result targets have not been achieved for the current Financial period.

Going Concern

Management is working on securing financing from shareholders and remain confident of the viability of the Company with their continued support.

The Board of Directors would like to highlight that as a result uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern without shareholders continued support.

There have been a few articles like this recently

https://slate.com/technology/2021/10/tether-crypto-danger-ben-mckenzie.html

'Accusations that the company resembles a Ponzi scheme are thrown around casually; if the online investigators and crypto gadflies are right, it would be the biggest in history, surpassing Bernie Madoff’s $64.8 billion scam.'

Interesting MIT News Office article:

https://news.mit.edu/2021/new-cancer-treatment-may-reawaken-immune-system-1019

'Their novel approach involves removing tumor cells from the body, treating them with chemotherapy drugs, and then placing them back in the tumor. When delivered along with drugs that activate T cells, these injured cancer cells appear to act as a distress signal that spurs the T cells into action.

“When you create cells that have DNA damage but are not killed, under certain conditions those live, injured cells can send a signal that awakens the immune system,” says Michael Yaffe, who is a David H. Koch Professor of Science, the director of the MIT Center for Precision Cancer Medicine, and a member of MIT’s Koch Institute for Integrative Cancer Research.'

I did not really look; not Aston Martin but Aston Martin Racing. So what is the collateral?

Yanis2005,

If the share price is 5p in 18 months time and the company is making lots of free cash, then the loan will be paid off in cash, not in shares at 1p. The Note Holders have chosen to extend the loan so they can no longer be paid in shares at 1p next year to settle the debt. They may be missing the chance to get the shares at 1p. If you were expecting the shares to be 2p, 3p etc next year would you have preferred to get paid in shares issued at significantly less than the prevailing market price.

#Capisce?