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As I said earlier on today: "I'd imagine they're not in a position to announce the deals that the CEO told us he'd been working until they can be sure they have the funding available to conclude them."
You say no news. We've been told that the CEO was working on 3 deals before he became CEO, is aiming to close those deals. We were then told in an RNS that they wish to have authority to issue more shares so that they have the liquidity to close deals quickly. Both of those are news. If it's news of an actual deal you want, I do think we'll need to wait until they have the funding behind them, which probably means nothing until after 30th September when the EGM has taken place.

Even today, @Jace86. So far, 41m sold at an average of 0.0193, but then followed by 31m bought at an average of 0.0205

It's well known that it's a gamble to hold a position here, but it's also a gamble to wait for an entry point. News of a full-blown RTO could break literally at any moment, or partial news triggering a suspension pending the details could also break. Either of those would take away a chance of cheap entry (the first scenario), or any entry (the second).

This is a binary choice now. Either you think the stock will proceed to RTO or it won't. If it does, we don't know how well the sp will perform, but enough to dwarf the difference between 0.02 and 0.015. If it doesn't, ever, RTO, ultimately we lose everything invested, so it makes no difference whether you entered at 0.02 or whether you got 33% more shares by entering at 0.015.

So, basically, by waiting for an entry point all you do is risk missing out the chance to enter. If you're convinced that this is likely to proceed to RTO, you should invest now. If you're convinced it won't, you shouldn't wait for a cheaper point to throw your money away. Either invest, or walk away, but I see nothing to be gained from waiting to invest later.

The first tranche of placed shares that Zark bought for 7p hit the market this morning.
The second tranche has to wait for the GM in a fortnight's time.
I'd imagine they're not in a position to announce the deals that the CEO told us he'd been working until they can be sure they have the funding available to conclude them. So hopefully we'll hear more after that.
Meanwhile, we can be sure that Zark did their research before putting a slug into the company at a 16% premium

Thank you, Milli. So we really are debating whether we'll have an RTO before the suspension deadline or an RTO after a period of suspension. All the evidence points to one or other of those, and not to a failure to complete one at all.

If this goes to suspension, that's not the same thing as a total failure. And Antos is just as much stuck with illiquid assets in the suspension period as any of us here, and with far more skin in than any of us. If he's not panicking at the fact it's not already done, I don't think we need to either.

Well the funny thing is that at 15.59 someone bought back in at 0.02 (which I think is what Wahrani has spotted) - 3680049 shares, quite similar to the 3,830,807 from earlier. I hope it was worth it.

More significant is the 13.5 million buy at 0.022 at 16.22

Are you Hendi as well as ifonlyiknew, or are you a fellow-sufferer at the hands of IG?

The other day we were asking about this, and I asked whether this actually happens if you follow through with a proposed trade. So, their website shows a notional spread of 0.01 to 0.03. If you then start the process of selling a million shares, at current market price, presumably their platform shows you the trade they'd execute and the consideration you'd get, and you get 15 seconds or so to hit "yes" if you want the trade. If you do that, do they actually show that they'd give you £100 less commission (matching the 0.01-0.03 advertised rounded spread), or would you actually get the full £190 less commission that market conditions suggest?

Hendi

I see you're still harping on about this over on Twitter, but when you shared your problem here you never replied when I and others asked exactly what problem you're having.

It seems you're only struggling with the number of decimal places being offered to you when you place a limit order, but your calls of "fraud!!" are implying that they're pocketing the rounding amount as an extra commission for them.

If the problem really is that they are rounding down the sale amount to the nearest 2dp when you place a market order, and that they're keeping the change, could you please say so explicitly. If that's not it, and it's just that their platform doesn't let you have enough dp for the limit orders you want, please stop taking every online discussion about this particular share off-topic.

Thanks

Perhaps it's just a Hobby

"you see 0.01-0.03"

But if you go beyond looking at how they present the advertised spread and ask the to quote to sell, presumably you get one final chance to look at the proposed trade with the consideration clearly shown before you hit "go".

Would they actually give you 0.01 per share?

What exactly is the problem, Hendi2? I took you to mean that you couldn't set a limit sell order with sufficient granularity. That's one thing. It's inconvenient, but there are ways around it. ifonlyiknew's reply took you a different way - that they'd sell for, say, 0.028, but then round down and only give you the proceeds as though the price had been 0.02. (In other words, they're taking the rounding error as bonus commission).

Which is it?

And remember he doesn't intend to hang around developing those assets. The current phase is investing rather than operating. Operating is the next phase and comes later - like 6-12 months time.

Agreed, Dan. We don't know what premium or discount any placings will come at. We do know that Zark only put their remaining investment in (which is a slight premium) if this is all approved, which means they must be convinced their investment is worth doing.

As you say, either you're convinced by the vision the CEO has set out, or you're not, but if you are you have to trust them with the authority they need to execute that vision.

They're up front that this will represent a further 300% of the shares in issue. They're asking for authority to issue a huge number of shares.
Should we trust them to use this well? I believe we should. Remember OO's interview. He said that they're looking at 3 deals at the moment. They'll buy the option to keep the deal open for them, then go to the market for the funds to buy the asset. These are big plans, but the way they'll work is that they'll need to raise cash for each asset they want to buy, and relatively quickly so the deal doesn't slip away. The only way OO's vision can actually work is if we give them this kind of authority in advance.

Which RTOs have you been part of recently

I get that issue, different platform, but only when I'm placing a limit order. I can place a market order fine - it'll offer me whatever exact price the market makers will take my shares for. Of course, even with the limit order, they're not refusing to take your shares - just only letting you set the target price to 2dp of a penny. When you're order is picked up, you still get the price you agreed to sell for (or better) - they wait to sell until they can achieve that.

Sharing an office with Peterhouse, who changed to the same address about a week later

@Tra1 - I can't see the article as I'm not a subscriber? What does it say, and does it offer anything specifically relevant for BOU and its potential targets?

At the close, the bid was 6.25 and the ask 6.75. They've opened the batting for Thursday by raising the ask to 7.25. A big spread, but still a nudge up.

It just occurred to me that there was a lot of posting on ADME yesterday because of the fund-raising RNS we had before the open. But the day before there was a video interview with our CEO, Osamede Okhomina. The company did not issue an RNS to say the video existed (why would they?). If I'm researching a company, the places I start are annual reports / prospectuses and the RNS list. But I'd totally miss the video by doing that. As this is the CEO's first time talking about his plans in public, I think it's quite important.

So here it is for anyone who missed it: https://www.proactiveinvestors.co.uk/companies/news/902391/adm-energy-ceo-assessing-a-number-of-near-term-production-assets-in-africa-902391.html