Member Info for Pecten11

Andy, from Oct 24th 2019 RNS - the second paragraph details that the warrants are on top of the converted shares - designed to give Atlas further upside optionality if the share price rose above 24p(new money)
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In the event the Company does not cash settle when a conversion right is exercised, the Bonds which are eligible for conversion, together with any accrued but unpaid interest, shall be convertible at their par value into free trading ordinary shares of the Company (“Ordinary Shares”) at a fixed price of 0.24p/share (a 20 per cent premium to the share price at which the most recent equity raise was carried out) or at a price per Ordinary Share equal to 90 per cent of the Volume Weighted Average Price of the Ordinary Shares on each of the previous 20 trading days. If the Election is not made, Atlas is restricted, subject to certain conditions, in exercising its conversion rights following the end of the non-conversion period to the exercise of up to a maximum of 10 per cent of the nominal value of the Bonds outstanding at the end of the non-conversion period in each month.

The Bonds shall be senior secured and shall rank pari passu with all other senior obligations of the Company. Atlas will have security over Baita Plai and the shares of the Company’s subsidiary holding the Diamond Concession.Attached to the Bonds are warrants (“Warrants”) giving the warrant holder the right to purchase in aggregate US$3,750,000 worth of Ordinary Shares at a fixed price of 0.26p per share (a 30 per cent premium to the share price at which the most recent equity raise was carried out). The Warrants will be issued on each Issuance Date and will be issued pro rata to each Bond issuance. The rights to exercise each Warrant will expire on the third anniversary of each relevant Issuance Date.

Maxcady - absolute rubbish. The Atlas bonds are a fact - there is no need whatsoever to construct such hyperbole

Like with any RNS, terminology and its interpretation is crucial - see Atlas conversion notice of 26th Jan
It doesn't mention placing (as a conversion notice isn't a placing), however, its results in the admission to trading of new Ordinary shares, thus causing dilution of existing holders

Tiger - on the subject of brokers, can you remember when we were told that Axis had become sole broker and VAST had got rid of SP Angel?

You mean all those other shares that this ID has never posted on?
VAST has been truly blessed by your insight

As my mother in law gave birth to a child that developed into an insightful, graceful, sensitive and sensual lady, then for that, I will always love her.
AP has yet to prove he has been imbued with the same genetic attributes

Are you suggesting he's gone through the change?

Maybe next time he can change into someone who meets a deadline

Do you still do the 'mother In law's material too - almost as funny and just as upto date

Mark good to see you practising your material - the clubs reopen on Monday.....

Mafuta -an accurate and realistic assessment imo

Sam 'look at the MCAP of some mining companies like GGP '
Would you care to name some 'mining companies like GGP' ? Or is that just a turn of phrase that actually only references one company ?

Ok Sam, say VAST do issue an RNS saying they've have been given an exploration license regarding the Chiawadza JV - then what - does that instantly bring in revenue?
No, it would mean they have to issue further CLN debt to Atlas just to get off the ground, assemble a team, buy kit, do resources estimation - it would be good news but wouldn't instantly transform the company

And buy the way, do I think thats likely, based on historical fact rather than ramping fantasy - no
Even the company stated in the letter to shareholders when they acquired APMG, that they attributed no value to the diamond claim

Sam, you know perfectly will Antharry isn't trying to scare people - he is stating a fact - Atlas can issue a bond conversion notice at any time - from $500,000 possibly upto $6.1M

Not if they bought at less that 9p......
Our resident Confucius speaks messages of horse manure

RNSTranslator / macadder -
Are adoubleuk, senseman and other entitled to their opinion - simply, yes of course as are you
If, you think they are misguided then their attempts to bring the current situation to a wider audience will, in the end be pointless, however, that doesn't stop them having the right to do so.
Any attempt by yourselves to ridicule or shut down the argument just strengthens their POV that 'something is afoot'

MasksNewNorm, jonesrichard, iceman888
I didn't bother looking further, seeing those names has turned me off from looking further

Good luck to any genuine holders

Onaplate - that's subtle - like it

Mike - https://www.lse.co.uk/rns/BOD/acquisition-of-sekaka-diamonds-completed-dc7872r8sd4gq68.html

HighlyGeared, indeed he is.
Would you care to elucidate on his response, or do I need to ask him myself?

Btw - if Sam asks me to DYOR again - what do think would be an appropriate answer? lol