Member Info for Seadoc2

Two key paragraphs:

The financing package recently closed for development of Tulu Kapi included cost overrun reserves and a capital allocation for the initiation of growth opportunities. Going forward beyond the initiation phase, the Saudi projects and other non-Tulu Kapi initiatives will be funded independently of the Tulu Kapi project financing - optimising the application of project finance, other non-ownership dilutive capital structures and joint ventures.

KEFI is currently taking independent advice on the 'fair market value' of its 13% holding and is also in consultation with its Auditors as to the appropriate carrying value on the Company's balance sheet.

I think that answers recent questions raised on this board.

Openpit, I agree that there are plenty of shenanigans around the price of gold, and for that matter oil, and I can see that if "they" want physical gold then temporarily driving down the spot price would potentially trigger stop losses on speculative positions, but please explain how you would see driving down the paper price of gold as a means of forcing closure of short positions?

Aldebaran, The Gulf States cannot sell their oil, they need cash, they have been selling gold. And, hopefully, when they can sell their oil currently sitting at anchor they will use that cash to buy back their bullion?

Two thoughts from RNSs issued this morning, first on Mali:

"Resolute Mining Limited has confirmed that its Syama operation in southern Mali continues to operate without interruption despite media reports of security incidents and unrest in other parts of the country. The company stated there has been no impact on personnel safety, supply chains, or production, and it is closely monitoring the situation while maintaining contact with local authorities and its in-country teams. The safety and wellbeing of employees and contractors remain the company's highest priority, with established security and travel protocols in place."

Second on the importance of showing construction progress, includes two very basic MP4 clips and there is a 10% improvement in share price of ECOB :

https://www.investegate.co.uk/company/ECOB

Just ask yourself: Would you swap £1768.36 for one Ethereum token? I would not and VGOLD_CORE is even le proven.

"Valereum Plc (AQSE: VLRM | OTCQB: VLRMF), a company aiming to become the global market leader in the rapidly developing tokenised digital markets sector, is pleased to announce an update on the status of its negotiations with Quorium Global Photonics SPC ("QGP").

The Company has agreed terms with QGP which the Valereum Board believes will place the Company in a stronger position. The principal term of this Definitive Agreement is to replace the existing $200 million QMTN2601001 medium term notes ("QMTN") with VGOLD-CORE tokens (underpinned by mining assets) with a valuation of approximately $279.5 million. The VGOLD-CORE tokens are to be released quarterly at $13.975m per quarter over the next five years, and be converted by reference to the LBMA gold price on each release date.

The tokens will be held in escrow until verification has been completed, alongside $279,500,000 of VGOLD-EQ tokens, the underlying equity token for the entire mining reserves within QGP.

An international accounting firm that specialises in digital assets with a global network has been engaged to lead the verification process. They will conduct a full verification and attestation of asset backing and Proof of Reserves, as well as an investment grade independent technical audit of the underlying smart contracts and robustness of the ERC-1404 implementations."

Without naming the firm this is just more pie in the sky. Will this be the final straw for Ross Andrews?

Noocyt, ii have put an instrument, 9864757, to the value of the retail offer shares into my ISA. If I wanted to flip the new shares I could always sell some of my previous holding but I have held these shares for several years and intend to hold them a few years yet.

Here is your answer pp1:

"Valereum Plc (AQSE: VLRM | OTCQB: VLRMF), a company aiming to become the global market leader in the rapidly developing tokenised digital markets sector, provides the following update in relation to the progress of the definitive agreement with Quorium Global Photonics SPC ("QGP") and receipt of the $300,000 as previously announced on 31 March 2026 and 10 April 2026, respectively.

The Board is pleased to announce that the Company is well advanced in negotiating the Definitive Agreement and has received part payment of the contracted $300,000 from QGP. "

We will probably hear from Guild a bit later today.

Xingxu has denied selling the licenses, it was just a joint venture?

https://addisstandard.com/exclusive-mining-saga-oromia-mining-authority-seeks-license-revocation-hong-kong-xingxu-denies-sale-to-askari-as-australian-firm-remains-silent/

I voted against, not to feck myself as I was sure that HAA already had it in the bag, but on principle to protest about his duplicitous behaviour.

Wakey, You are using the 13.7bn share now, or at least on 16th April to be, in issue. There are also 1.1bn warrants and options outstanding so the fully diluted market cap is effectively £207m @1.4p or £296m @2p. That is not in any way to detract from your message but should be included in any valuation.

Hmm... I have given it some thought:

My answer - Probably the same reason we have not had an RNS confirming the second tranche?

Hang on I have just re-read the RNS:

".......it has today received confirmation that the US$300,000 cash element of the coupon is being paid in instalments over the next 4 business days, with the first instalment to be received today.

At this time, the Company has no reason to believe that the further amounts due from QGP will not be received. An update will be made on receipt of the full cash element of the coupon."

Cunning wording that, it seems that I will just have to give it a bit more thought before I can give you an answer and of course the company will have a bit more time to look for that missing "reason" of which they claimed no knowledge on Friday. So I should have an answer soon, say by close of play Wednesday?

Bear,

He does visit this site so I cannot cut and paste lest I end up on the naughty step but his sums show that at 3p, market cap £435m it would be outside the bottom 15 of FTSE 250. If you want the whole, albeit short, article it used to be £1.99 for unlimited one day access to his site, less than a glass if fizzy water at the boozer.

San,

Sorry to nit-pick but you use the word "should" in your post. The wording of the original RNS was "expect to". I would equate "expect to" with could, as in there is a possibility, rather than should, which implies a probability or duty. It is a fine line but I think the wording of the RNS was very carefully chosen. I suspect Ross Andrews at Guild will be pondering this exact point at the moment. Resignation of Guild as the company's advisor would result in the immediate suspension of the shares and to misquote Lady Bracknell, to lose one advisor.... but to lose two advisors:

RNS of 17/12/25

"Valereum Plc

("Valereum", "VLRM" or the "Company")

Resignation of Corporate Adviser and Trading Suspension

Valereum Plc announces that First Sentinel Corporate Finance Ltd has resigned from the role of AQSE Corporate Adviser to the Company with immediate effect. As a result, trading in the Company's ordinary shares on AQSE will be suspended from 7:30 a.m. on 17 December 2025.

The Company continues to work with Quorium Global Photonics SPC ("QGP") to conclude the recently announced transaction, and will announce a new Corporate Adviser in the coming days."

I know there are posters here who are very strong supporters of VLRM but any waverers reading these posts about recent events, or more accurately lack of events, might want to reflect on the possibility vs the probability. For the avoidance of any doubt I do not and never have held any shares in VLRM.

And to answer the obvious question: I follow because of similarities of VLRM with SYME. After all Cottle and Zamboni both ran circuses!

The last of the big spenders:

"Valereum Plc (AQSE: VLRM), a company aiming to become the global market leader in the rapidly developing tokenised digital markets sector, announces that it has received a notice of exercise from an employee in respect of 1,000,000 share options over Ordinary Shares of £0.001 each ("New Ordinary Shares").

The Company has also received notice from Gary Cottle that he has transferred 1,600,106 shares to connected parties tax efficient investment vehicles (ISA's) and confirmed to the Board that he has no intention to sell shares prior to a US listing."

https://www.youtube.com/watch?v=sxTrVsKOVFg

Cancellation of Options

In addition to the above, the Company has cancelled 1,000,000 share options over Ordinary Shares with an exercise price of £0.001 per share, previously awarded to a former employee.

From RNS of 31st March:

"The Board and QGP expect to enter into a Definitive Agreement within 30 days."

" The cash will be payable within 5 business days and the VGOLD-CORE upon signing the Definitive Agreement."

Does that not mean that we can continue to "expect" for another 25 days and IF the agreement is signed then we start the clock for counting down the 5 days? That is what I read and posted on 31st March under "Moving the goal posts"

Yet? Any comments?

Dvh, Just curious, not booked onto the presentation but does it look like he is presenting from the front room of his house in Sydney?

The offer has ben above 1.2p for the first 90mins of trading.

I think Blubird is an unlisted US stock registered in Delaware and not to be confused with Bluebird BMV listed on the London market and registered in the BVI but no doubt PP will advise us.