RE: Thoughts - Equity Raise Coming?19 Nov 2019 09:21
Total rubbish. Clear deramping effort. The company will be pumping 10k barrels a day by year end and is spending a lot of cash flow on drilling new wells which are delivering 6k barrels per day of production. The company will will be drowning in excess cash next year splashing dividends out like crazy in 2021. A true cash machine in the making. Yes the error in cash was very poor but the CFO paid the price for that.
RE: Hammerhead is commercial and heavy..Hess aka Jethro14 Nov 2019 22:15
You slate this but ramp the hell out of MATD which has hit more dust than Dyson hoovers. I was in MATD and sold out before it sprayed investors with so much dust they were left choking. I think ECO is a much better investment considering the potential in the rest of the block.
The free cashflow once we have 17,000 machines on order its a no brainer to allocate £1m a quarter to share buybacks if the market fails to value us correctly. We should still have at least another £5m a quarter free cashflow to invest in new mining machines. This assumes the bitcoin prices remains at $8000 which is roughly the breakeven for most miners compared to our $2500. After halving the breakeven cost for most miners jumps to $16000 and ours to $5000. This suggests the bitcoin price will need to be at least $16000 and we will be making $11,000 per mined coin compared to $5500 now although we will mine 50% less coins so our profit will remain the same. In reality bitcoin price will need to go towards $20k for the other miners to remain in business and grow. So I’m quite happy with the current bitcoin price as it holds back other miners from growing as fast as us
think now that the money has been received the company will need to start the share buyback process and Crystal Amber will hopefully dictate the liquidation of the rest of the company and return £1+ to shareholders. Expecting a few TR1's with the trades recently going through and then CA can begin their work.
To see V prices move up but it’s only one day. I want to see a 50% rise and then some stability at that level. Only then will the SP start to move towards the 30p level. I’ve accepted that in the short term the market will only value the company based on the mining side and currently that side side is running on massively reduced margins compared to last year. Just like any commodity V price has its cycles and we are at the bottom of one. Just need to remain patient and at some point the market will start to attribute value to BE which will bump the SP up even more
RE: TR-1: Standard form for notification of major holdings11 Nov 2019 20:27
In fact if they owned 4% of the current shares in issues compared to the 6.45% of the share in issue pre-placing they would have more shares hence My conclusion is that M&G bought more in the placing but not proportionately to their existing % holding
RE: TR-1: Standard form for notification of major holdings11 Nov 2019 20:20
But did they sell? The TR1 was an update based on the new share count post dilution but it does state there was an acquisition or disposal of shares. The drop could either be they bought some more shares in the raise but not enough to maintain their % holding or they did in fact sell some but certainly not very much as they are now between 4% and 5%.
Seen the major interest in MNRG shares. £1m cap company and listed on main market. Don’t get MM manipulating that. Shows it’s pretty easily possible for BMN to exit AIM next year. Even if we aren’t straight into the FTSE250 it would be better to get rid of manipulation. Shorting will still be there however.
only other weapon Fortune could use is to borrow money in Euro's due to the stupidly low borrowing rates and launch a share buyback designed to only be in effect during periods of shorting to kill off the manipulators.
news. And by that i mean the Q3 update as we knew Vanchem news already. This really is the best mining business on AIM but i hope that we pass that 'best mining business' award onto another party as we plan to exit this manipulated market. I really think the UK government should nationalise the MM's and operate them as a not for profit organisation.