Member Info for Pocko

Strong stuff Oaktree...

Budge and his cadre are doing well... And they can refinance the family silver in perpetuity. 0.002, 0.002 or 0.0002... it simply doesn't matter. AIM is littered with such companies all with great assets, and a Board willing to exploit private investors. It's the transfer of wealth from your pocket to theirs.

Budge actually received a payrise this year... Recommended by a consultant paid for with company funds.

Many here don't understand or don't want to understand the process or the finance.

Hilarious stuff...

Check your facts.

And does anyone know how much cash has been raised since 2014, including this latest round?

I do, and there is nothing to show for it.

I only watched two minutes... I've watched enough presentations and read enought RNS in the last 12 years to know there's nothing new.

Its a results business, and Budge has little to show for his tenure - Clive Sinclair-Poultom submitted the initial exploitation application in 2013, so other than spank investors money in Kosovo, what has been achieved since 2014?

Asking for a friend.

It was a small event, because no-one is interested.

BEM is a small cap with a 'value' of £25m. In mining terms, peanuts. If a player wanted BEM, they would have it already.

It was like a scene from a timeshare event on the Costa Brava - Maureen, Bill and their mates from the werkin mens club, were only there for the free drinks and tickets to see Sticky Vicky.

Start dates... But no completion dates.

And Q2 is another two months away...

I think you'll be able to load up at 0.002 in 18-months time... Just in time For those inflection points to take effect.

And PrimaryBid is about as much use as a chocolate fireguard, and used because its cheap. I'm only surprised Budge didn't use the Robinhood app. The joke really would have been on investors.

I think some are quite happy with the state of play... Though I suspect it's a defence mechanism.

See how they feel when he's raising money at 0.002 and there's 10B shares in issue...

Budge: How many times can I regurgitate the same RNS?
Directors: I don't know boss.
Budge: Pull up a sandbag... They fall for it every time.

To 'progress Kallak' Obviously...

And I might have told a little lie EricDraven...

The usual form is a huge rights issue, followed by a loan, and then you'll get a further opportunity to participate in another fundraise.

So another 18-months to the next one then...

But here's the fun bit about Vardar...

"Additional proceeds from the UK Issue and the Additional Subscription will be distributed across Beowulf's projects and workstreams to further advance the Company's position and add value to the asset portfolio."

'Add value'? Hilarious stuff from The Boss...

Its hardly a detailed and fully costed work-plan is it?

Modelio Equity AB will make it work - Guaranteed that the SP will rise enough for them to make a healthy return. From 0.0206, the SP doesn't need a huge rise, for them to make a profit. Just as they did last time. A rise of 1-2p should do it... As they sell into a rising market

So why can't EricDraven?

The funding RNS outlines approximate figures to each project, the mention of Vardar conspicuous by its absence, and yet it's all very vague.

How did Budge arrive at the figure they intended to raise? Back of a *** packet it would seem.

£7m after expenses is a lot of money to spank on vague plans to drill, and state of the art pencil pushing. Will spending more money on consultants and administrators make this process any quicker? I don't it.

And more pertinent, where did Budge get the *** packer from? And does he even smoke?

I can imagine what my business bank would do if I rocked up with a vague business plan for a loan.

And probably just as vague with the spending plans?

If past form is anything to go by, it will be.

I wouldn't worry about it EricDraven.

You'll get another opportunity to participate in a fundraise in around 12-months

And it's not underwritten in the UK because he can't find a backer - That much is clear

And PrimaryBid has been used to open it up to new investors, specifically because Budge is not confident that existing investors will take the bait...

"In the event that the Capital Raise is fully subscribed, the Board assesses that the working capital will cover the Company's operations for at least 18 months. In a scenario where the Rights Issue is subscribed to the underwritten level of 70 per cent and no further funds are provided in the UK Issue, the Board assesses that the available working capital will cover the Company's operations for at least 12 months after completion of the Capital Raise."