Member Info for rickmeister

On the day his appointment is announced his other directorate company, Cora Gold, announces this, following earlier fund raising. Cora Gold Limited, the West African focused gold company, is pleased to announce that it has entered into a mandate letter to appoint Atlantique Finance to act as sole adviser in the structuring and mobilisation of a medium-term loan of US$70 million in CFA franc ('XOF') to support funding the development of Cora's flagship Sanankoro Gold Project in south Mali.

CG have also relinquished other projects to focus on Sanankora. Maybe we are going to focus on one good project.

Off of good volumes.

Sweden should already be in NATO, its was their own intransigence and now Turkey that's kept them out. SP in Sweden up nicely again today, equivalent to 2.2p.

There has been some positive moves in the SP in Sweden over the past 7 days but whether they are of any significance to impending news remains to be seen. Swedish inflation rate is worse than ours.

Yep, public holiday today. Swedes no doubt recovering from imbibing on hallucinogenic mushroom infused reindeer wee. Pint of warm beer for me please!

Its a bit more complex than your reading. The total facility is £5m (less costs). £3m was drawndown in Nov 22 and £1m in April 23. However there is a £4m outstanding limit. Ie if Arena haven't converted bonds to shares of at least £1m no more drawdown can take place. As I read it there are still £4.75m outstanding. Technically the third trance is undrawn but can't currently be accessed under the facility terms.

Yes but he is a hereditary peer and lib dem, so not much influence. His net worth is not said to be that great. I'm beginning to wonder of we have got over-excited about battery manufacture. I fear its going to be a volume business only. Perhaps the government has decide to let the Yanks, China and Europe fight it out.

Property, plant and equipment only valued at less than £3m in total. What's a redundant factory worth in Thurso?

Net assets in the last accounts was circa £8m and a big lump of the current assets was intangibles. Asset valuation is dark art. So no, not possible to say what NAV is today, but I doubt if it has gone up.

Yep, less than the value of the outstanding convertible warrants

Not yet it seems. Even more bad news coming!

This is not the first time I have invested in a small green company, supposedly the type of companies where our future growth lies, and have been financially punished for doing so. I shall treat this sector with extreme caution in future.

Its only real success is to top the fallers board twice.

Itagame. Absolutely correct.

Great song, as many were from that period, but then I'm biased being late teenager in the 70's. Good old Hammond organ, ya boo sucks to non analogue music. Our SP maybe pants but we can still enjoy good music and sunshine. Swedes will effectively be on holiday all next week.

Truth. So the games afoot.

True. Equally how are Arena going to manage conversions with the SP so depleted. The board has mentioned the need for fundraising (sic), but not said how much they need. They appear to drawn down all the £4m convertible bond. Arena have only converted a small proportion so far. Do they want to buy Arena off?

But little mention in these RNSs of the financial position until now. They had a £4m convertible loan and £580k unsecured loan from Highlands and Islands as recently as March. H&I would/should not have lent if the company's financial state was weak. Less damage would have been done to the SP if they had announced a rights issue to raise capital. A right mess.

So having to find £145k tomorrow to pay Syd is good news. Your comment seems close to breaching market rules.

Yes but the RNS said the new shares would be available for trading as of the 12th. My question remains why are only 28m shares shown as issued .