Member Info for Skeletor

Normally I take this as a huge hint that a placing is likely but they just did one so…..

At the discount price to raise $60m you would dilute your investment by 12.5% (appreciate there may only be a 6.25% dilution for half the money). If Newcrest had taken the 5% stake in Haverion at $60m this would have diluted your stake in Haverion by 16.7% but left all other 100% owned prospects undiluted.

I don't know which is best (depends how much of Haverion is in the entire mcap) but it is not clear cut so I struggle to accept that on one hand Newcrest not taking the options is hailed as a great outcome but then diluting total company ownership is considered a good move.....

10% of the company was bought and sold in the 3 days from MSC news from my memory.... How did this not result in a TR1. I will accept that maybe the buying was spread across many so no one individual went over a threshold but who were the 10% sellers in not II's?

Got thinking to myself this morning - On a day by day basis what happens at BRES? We are not mining, we are not building infrastructure to mine (I imagine we need project funding first?), we are not selling or marketing... So what is happening? Like right now, as I type, what is Mike up to? Do we have other employees? And if so what are they doing right now? Is there a full time job to be done at BRES? I get that Mike needs to speak to potential project partners to gain funding but this must be a fairly intermittent task (I assume he is not cold calling)

Not complaining as every company goes through this stage but it does feel like a very strange lull.

So, is the status quo that’s it’s been rejected? Or still decision pending??

Saw the headline of this mornings RNS as well as the word “placing” and panicked but pleasing to see that the minimum these can convert for is 60p and if left longer then 90p.

Hopefully this further puts the funding nags to bed as we are still clearly able to fund without giving away the company cheaply (appreciate 60p is still cheap but if we are in a position where the lender is taking that option it can only be a positive from where we are today).

GLA

RiskisReward.

Shishir has stated that there would be no equity raise at these prices. I suspect we don’t have a lot of cash but o trust that we are either now or imminently profitable. We therefore can choose when to raise rather than be forced to. As we build to 30000 mt prod then we could pause growth and let this increase our profitability so we can begin to invest profits rather than raise. I am sure the preference is to move quicker and raise more capital but the point is that with us being profitable Shishir has it in his gift to keep his promise of not raising cheaply.

https://twitter.com/tirupatiuk/status/1555435180365467648?s=21&t=abl4FGwMz5-4SiIp1Yj2MA

Don’t know why not an RNs (even though it doesn’t have to be).

Anyway - Sept is 3.5 weeks away so to still be on track hopefully means it is happening. Might top up here if any more weakness shown

I would be happy with that. I would be happy with giving up 80% to get a free ride on the 20% given our mcap. Look at the deal GGP have with Newcrest.

So they are giving themselves a target of getting the share price to 3p whilst some investors on here say they would not sell at 10p… some disconnect between the boards valuation and the average armchair PI??

Still. I would happily take 3p right now so let’s hope the board are being realistic in their targets.

Hi Steve. I just read the IGS RNS and it was going to start in Q1 and be $720 over 6 months. I think we can definitely not allow for the full $720 and suspect we have still a decent chunk to go. I think we thought at the time we got $30k in feb. Even if this then provided $120k a month after this still only gives $510k of IGS but who knows. Almost doesn’t matter so long as revenue is growing at this rate. I don’t know enough about live scores but would we expect revenue to dip here whilst the football season is stopped? Maybe.

Steve I’m not sure how much of the 720 ifs is included up to June but pretty sure not all of it.

Yep Dogger, does not look like you will be getting your discount today. I was ready to buy into hysteric selling but will sit on my hands at this price.

Who knows. Would not be totally surprised although I think that is unlikely. I think more likely low teens. Maybe not at all but a lot of people will just read headlines rather than context. Key is whether institutions buy or sell.

I suspect it will go down and I will disagree with the market when it does. That is how you make money by the way…. Disagreeing with the market and then being right.

I imagine they have had to devalue assets in recognition that the infrastructure in a war ravaged country is worth less.

I think the results are really impressive considering.

Only 21% less sales. There were scaremongers on here suggesting that they could be 75% less (using the fact we may only have 1 kiln out of 4 working).

If they can make a profit in these conditions (unprecedented energy costs, low iron ore price, war on their doorstep) then that is pretty impressive.

Repeat this performance in H2 (might not on sales but hopefully no further impairment) and we have a p/e of 7. Not a bad compensation whilst you wait for things to normalise and the SP to head back to the 400-500s.

ATB

Yes. I know all of that. I just need to send 3 copies to uk Tax office to get stamped so I can prove to Swiss tax office that I am a uk tax paying resident. On the HMRC website there is not an obvious address for doing this (other than the main address). As others had been quite helpful on this thread I thought I would reach out to ascertain the address used. Failing that I will just use the main address and hope for the best.

Our non executive chairman has finally bought and after he still owns less of the company than me. Slightly disappointing at 0.05% of holding. Would have been nice to see him really go for it. Maybe even take some of Miltons stock off book by contacting them directly.

Was FGS the first part of the post code and then your mid wandered a little as it tends to do in your dotage as you reminisce on simpler times and investing in chocolate factories that you forgot to finish giving me the address to send form 86 to at uk tax office?

Can someone please give me the UK address this goes to? Also did you put a covering note in or do they instantly know what to do? Did you include your tax vouchers or is this for when it gets sent to the Swiss tax office. What a pain.... I will def try and sell pre div next time and then buy back ex divi... Hopefully not too many do the same!!