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And take a look at www.primarybid.com

Most will struggle to buy through their ISA

Yes ADF, I specifically recall the 46% discount mentioned in December... Have you read through the RNS?

And Standby for another fundraise in 12-months. Probably a loan, followed by a rights issue - Seems to be the MO.

"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."

More hilarious guff, given the huge discount offered to mates...

"Major value inflection points for Kallak North is the delivery of a Pre-feasibility Study, planned to commence in Q2 2023, and an application for the environmental permit due to be submitted in Q4 2023. While for Kallak South, further drilling could see the conversion of the current Exploration Target to Mineral Resources. A future agreement with a green steel producer is another possible value driver."

And when you make up a magic discount for your mates, the average daily SP doesn't really matter much.

"The SDR Offer Price of SEK 0.27 and the UK Offer Price of 2.06 pence represent approximately a 46 per cent discount to the average daily weighted average price for the SDRs and the Ordinary Shares during a trading period of 15 business days ending on and including 24 January 2023"

Kurt Budge clearly doesn't value the company or investors.

Note the spending on Vardar... Its borderline obsessive.

"The main purpose of the Rights Issue will be to finance the continued development of Kallak North, as well as to progress at pace the preparation of the environmental permit application for Kallak North. The Rights Issue will also repay bridge loan financing and with sufficient funding available, possible resource drilling for Kallak South, and capital for Grafintec and Vardar's development and exploration programmes."

And on that basis, for the institutional investor to get a return, the SP will only need to gently rise to where it sits now to get a healthy return - Leaves existing investors high and dry.

I predicted between 0.0275 - 0.03p - Who would have imagined such a discount? How wrong was I?

Mates rates?

Given that the scoping study was late, it was hardly time critical for release.

It could certainly have been issued after the fundraise, not that it's going to affect the 15 day average used to calculate the issue price given the poor share performance.

The SP is the prize is it not? And given the imminent fund raise, the RNS, as positive as it is, was never going to impact on the SP

GM tomorrow at 0800 CET, so expect an RNS that the resolutions have been passed, and then details of the fundraise - Specifically the all important price.

Pull up a sandbag and listen Borg. There's posters here with plenty of skin in the game. Being a critical friend is somewhat different to simply posting negativity.

So, read the RNS issued in the last few years, and you might just learn a few things.

A starting point might be the RNS informing shareholders that company money had been spent on a consultation by an outside contractor that assessed Budge's renumeration and recommended a payrise.

He won't have any difficulty participating in the share offer will he?

Give yer head a wobble Borg and read a few RNS... You might learn a few bits and pieces.

And if you think the performance of this company in the last 8-years is in any way satisfactory, then lord help you.

And while I'm on a roll... A sea of filtered posts means the nutjobs are posting, therefore bear with me as I'm posting blind:

Further reality check:

BEM has so far been the subject of rinse and repeat fundraising, diluting the investment of long suffering shareholders. Budge can and will continue to do so for as long as the finance market allows him to. They get their payout regardless...

Is the truth stinging yet?

Reality check:

BEM could be sold for a pittance and there is nothing shareholders would be able to do about it.

Sirius Minerals being the point in question

Budge will be looked after, so don't for one minute think 'The Boss' has shareholder interests at heart - He doesn't.

Use the filter button Oaktree... Works wonders.

He/she/it would cause an argument in an empty room. All the evidence clearly contradicts any drivel he/she/it posts.

Budge should own any delays in process at this point. The government or Swedish court won't come into play again for a while.

He/she/it clearly has no understanding of the forces and processes in play.

Summer solstice? Lmfao...

Don't worry about the number of shares in issue. A share consolidation will fix that. Then we can start the slow drip down again...

Don't worry about the number of shares in issue. A share consolidation will fix that. Then we can start the slow drip down again...

Unfortunately EricDraven, the RNS issued in the last few years have been ambiguous at best.

2026? Not a chance in my opinion, based on past and current performance.