Member Info for Ronnycant

To be honest, I am not sure... if this 87Mio USD is restricted or unrestricted. We will have to await further details on the merger.

They don't make 30GBP profit a barrel on newly acquired assets.. What was mentioned? Assests from Marathon having a free cash flow of about 87Mio USD this year (read that somewhere)? That makes in average 17 USD profit per barrel produced.

Happy to be proven wrong.

Dare I say, after nearly financially being whiped out by VAST, deciding to sell at major loss and put in RRE (at 650p) with a long term view to recover some... I am without words...

It sounds too big to chew... but could they not do an equity-raise + debt + existing cash?

So, I finally had a little dip into this share. Let's see if it works out. Still hurting from VAST .

I have sold out at 0.2 and made a massive loss. I truly believed in this share and AP and was in here for years. It has set me back considerably. Currently moved it into RRE hoping to recover some of the loss. Nevertheless, if AP manages finance and focusses on BP, there is a future here. That is where I would consider buying back in... at a way higher price that will be... when he pulls it off. All the best to holders.
I am in damage mitigation mode.. unfortunately not in early retirement mode anymore. Another hard lesson...

When BergenT2 gets rejected, can AP come to the shareholders and issue shares to keep the lights on (if required)? That is my one unclarity.

I would vote against the Bergen resolution if I knew it was not necessary to keep the lights on until BP comes online. We have been surprised before in the past regarding cash, AP not giving the full picture. I would not be surprised he needs the cash more than we expect. Why did they start with Bergen before XMAS, where you lose two weeks of the 30 days since the lawyers are on holiday? Because he probably ran out of cash and desperately needed it for the end of month employee wages.

Not scaremongering... just trying to be realistic! Rather a dilluted than a bankrupt company. I think we need all the cash we can put our hands on to keep this afloat in the coming months. I vote YES on Bergen

Bergen can go screw themselves... and as a result the shareholder runs the risk that VAST runs dry on cash... Nobody knows the current cash position. I vote YES.

Sorry, I meant the sulphides... Isas, PP is not generating that profit yet. Evenmore, that profit is for now hard to get out of ZIM.
We have had several dilutions so far which nobody expected. 2pence is having a guess, but does not know the actual cash amount that the company has...

PP is not at the oxides yet...
I am not scaremongering. Running out of cash unexpectedly has happened before withouth warning. I expect that this might be the case again. That is why I am voting yes to BT2.

What if we vote down Bergen T2 during the EGM assuming that Mercuria T2 will follow shorty, and it doesn't? Bankruptcy since no cash to keep the lights on?

I might be wrong, but that's where I see the main risk.

I will vote "yes" to all resolutions. I am of the belief they need all the cash possible to keep the lights on and get to BP production.

He did use those words... saying it was "NOT a death spiral"...

Is the 0.2p bottom conversion price limit only for the second tranche or also for the 1st tranche?

Because whwn ge raises, there is 100% chance of dilution.. with bergen deal, there is a chance we can avoid whwn T2 comes im time

If that means we hAve that last kick to get BP up and running.. then i can live with it.. that is if no further surprises pop up

What happens if T2 does nt materialize in time? Apparently not a Scholes death spiral, but what is the max dilution? Does anyone have a clear view? 25%?

Hi all,

I listened to the conf call but missed the section where AP elaborated on the potential for future resource upgrade at BP. Did he say potentially 2-3 fold increase in resource after drilling in the future? That would be amazing.

My main concern is the backlog of mercuria deliveries. Assuming the new equipment arrives Q1, whilst simultaneously keeping the old equipment going, we would double output and litterally dig our way our of misery