YA Total Number of Shares5 Nov 2025 16:35
YA, under the loan contract, is only allowed up to 29.9% of total shares in NTVO post conversion. This includes from all sources, including the £200,000 equity in the company just bought. The loan will always be unsecured. The NTVO current shareholding is 464,460 million shares in total. If YA wish to do full conversion, then they will only be allowed - under any circumstances - to purchase up to 198,170 shares in the company.
In that scenario, the final grand number of shares that the company would have would be 464,460 mn + 198,170 mn = 662,626
So, that seems pretty good to me, considering that we now have full finance to full gold production, a gold processing plant and probably a tailings arm. Probably we would be making a profit of £100 mn from NTVO's full range of activities at the end of the first year, but the business will be highly scalable from this amount. So, even with a PE of only 5, that would be £100 mn x 5 = £500mn profit at end of year one, divide by 662.620 mn = 75 pence per share, a 150 bagger from here. A PE of 8 would give £1.20 per share, which would provide a 240 bagger from here.
I think I could live with that, especially as their business model is highly scalable and we have a very able and ambitious company leadership.