Member Info for Scharnhorst

Oh, and feel free to forward our exchange to Stuart. If he likes your maths we'll know he's in the wrong game.

You've used a market cap calculation which is shares in issue times price. You've then ignored the extra shares in your revised market cap which is plain wrong. Of course the market may choose to ignore the value of the £3.5m cash raised, which is what Stuart is implying and is what the market reaction suggests at this time, but your bogus calculation can't be used to prove that. All you're doing is after-timing the market reaction. By the way you dilute a shareholding, not a price, and your shareholding will not be diluted if you take up your entitlement. Unlike you I don't need a broker to hold my hand thanks all the same.

If everyone takes their allocation no extra shares are added over and above the offer shares. Gorsuch has produced the worst piece of muddle headed maths I've ever seen.

Not if you take up the offer. The advantage of taking them from the company, rather than from the market, is that the company gets the proceeds. Those buying from the market are shooting themselves in the foot if they plan to hold.

At least it's an open offer, rather than a private placement, so you can choose not to be diluted.

Excellent news on gold, dire nickel report so a game of two halves and shows the benefit of diversification. Can anyone explain what is happening with copper? Mpinga said in an interview in March that he was anticipating good drilling results and hoped to have them by April. Was that just the usual false promise from the lumbering oaf?

As I suggested earlier. He is not seeking re-election at the forthcoming BNC agm.

Only owns 0.06% of BNC? Tells you all you need to know imo, ie. only interested in drawing a fat salary for as long as possible. I don't expect he'll be doing so for much longer.

You know the type. They sell then post on here under new user names with the sole intention of spoiling it for everybody else. What a life.

I disagree about Mpinga. If he was any good he'd still be there. Time and again he over promised, under delivered.

I'm surprised they didn't report Cu exploration results today. Mpinga said they'd be ready by April though a lot of what he told us turned out to be baloney.

I tend to agree but taking that to its logical conclusion why is Mpinga still running BNC?

Perhaps the minister is unhappy because bribes stopped when Mpinga left? Mwana was never compliant with Mpinga there so why the sudden fuss now he's gone?

You got an update last week. "Meanwhile, progress is being made with the appointment of the Company's new Nomad and Broker. The Company is in discussions with a number of Nomad and Broker firms and there is every expectation that an appointment will be made within the required time frame. Peel Hunt is fully co-operating with the handover process to ensure a smooth transition." "A further announcement will be made once the appointment of the new Nomad and Broker is formalised." Do you not understand that last sentence?

Presumably they had a good relationship with Kalaa and didn't agree with him being deposed. Kalaa wrote to shareholders raising this as a possibility.

Not a surprise to me as it was flagged up in the circular before the vote.

What's the betting their first RNS will detail their share options.

Not new holders but partners who have added in quantity. They presumably rate the copper prospect highly.

Maybe they we're put off by the twerp who said the company needed a miracle a few weeks ago.

We're due drilling results any day now.