Member Info for Pecten11

Thanks Jayfella

I speculated in a reply to TBTT on 7th Jan -
'Tiger, could the jurisdictional exposure possibly suggest that Botswana Diamonds take over the Chiawadza concession??

Understandable that a 'high profile' banking institution would have had doubts about gaining Zimbabawe related exposure?'

Reaper, fresh eyes can indeed be a good thing, but just make sure they are both wide open rather than squinting through one at just the things you want to see

Farmer27, it's not about positive or negative, it's about fact

I know that's not a popular concept with millenials (or politicians.....)

Chris, I know you're positive about VAST, but you've been around for long enough to understand reality - please explain to Reaper that it was VASTs choice to pay in shares, not Atlas' - they just chose to convert part of the outstanding bond

Sorry, but you still dont get it - they (Atlas) didn't have any choice in the matter

Read the October 2019 RNS

On the subject of new shares, anybody know how much headroom is left ?

'If the shares are good enough for Atlas them they are good enough for me.'

Reaper, you are of course entitled to your own opinion, but in mine, that is a shockingly naive or disingenuous statement

The shares are only good enough for Atlas, because they weren't given the choice of cold, hard, cash

MJT, the fact that Atlas have chosen to convert some of the bonds as the date on the non-conversion agreement has passed (and VAST settle in shares rather than cash) also means that they can, if they so choose, ask VAST to repay another $500k worth of bonds next month (again to be paid in cash or shares), and again every month until the first tranche is satisfied ( iirc, that would be another 12 such conversions)

Or in more detail

'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.'

And they also get the same number of warrants as shares issued each conversion at .24

MJT - from the RNS 24th Oct 2019
'Subject to the Company fulfilling its obligations under the Deed, the Deed has been structured to give the Company the ability to repay the facility in cash with no conversion, on account of ongoing refinancing discussions with the Swiss Bank and others. '

'I had a limit order set at 10% below market and it filled no problem.'

Wouldn't that suggest someone(s) are more than willing to sell into any volume still?

I take it you have too much time on your hands to produce the vid - or is the ramp really on ??

Chris, sorry fella, didn’t realise I was keeping you from your Deliveroo bike!!

Ride safe :))

Chris- what’s that in £Sterling?
Then multiply by the 3-4 years that the current JORC supports (well sort of) - is that close to the current mcap??

Chris I hope you're right too - it just the weight of history.....

Thing is, you have been very positive since you started posting on this bb - nothing wrong with that and understandable in many ways but you've never explained why, other than seemingly saying sentiment should be enough (no mention of the business way pro/cons) - now, after averaging down and thinking that Andrew Hall presents well you still seem to think positivity is enough - but still now mention of the business case pros/cons
if everything is so positive, why is the mcap still around £24M-£28M - which is pretty much where its been for the last two years - just with many, many more shares in circulation (so smaller slices of pie for everyone - which in lockdown might be a healthier choice !)

Chris, do you think you can rely on AIM CEOs and directors to tell the truth, the whole truth and nothing but the truth in interviews??

Bouncer, you've been round the block once or twice (meant in the nicest way!), can you please suggest a good reason why the latest placing (it wasnt conditional on a share holder vote) was admitted in two tranches??
I have no proof of anything, but my nose is still twitching.....

Chris, best wishes - sorry for your news..

Ask for help if you need it - you dont have to be the strong one

Anyusername 'BPPM - valued at 70m (0.38p per share) '
Remember this valuation was internal (by the NEDs) - no external validation. And that's dollars, so about £51M

And since that dates, the following shares have been admitted (thus diluting that value per share)

905,125,000 of the Placing Shares on or around 9 November 2020 (the ‘Second Admission’)
The Acquisition has been satisfied through the issue of 2,850,000,000 new ordinary shares of 0.1p in the Company (‘Ordinary Shares’) - admitted 25th Nov
a Placing of 3,671,651,439 ordinary shares of 0.1p in the Company (‘Ordinary Shares’) at a price of 0.132p per Ordinary Share (the ‘Placing Shares’) - admitted on 15th Dec and 23rd Dec (still no rational reason given by anyone why two dates)

So with an extra 7.4 billion shares admitted for trading since the Letter to Shareholders on 6th Nov, that would change that valuation to be closer to 0.24p - strangely(?) that equates to the Atlas conversion price calculated by Sandy a couple of months ago.

Due to AP receiving 1.5 billion shares in consideration for his share of APMG, the relative number of shares he held previously is almost inconsequential

'ankers' a-weigh.........