Member Info for SmoothOperater

It's frustrating the shareprice before an RTO is down because people cannot wait any longer, but for people to suggest the RTO is not happening is downright lies.

Rubbish this is going to RTO when it is ready.

If the RTO completes only 3% of that loan goes towards AMG valuation.

Your other points are for the new company to act upon.

I see a few impatient have been clearing their decks, oh well this share isn't for them, the patient on the other hand should do really well here!!!

Only tiny holders voted against resolutions

Looking forward to the next news, those selling now may have regret lol

This is the time not to get shaken out!!! Quite the opposite IMO

Thanks, there's too many unknowns for me to predict anything more than an equivalent range of 25p - 75p on relist for AMG shareholders.

Timeline should be within the next 3 to 6 weeks for completion.

Prospectus should be nearly complete by now, the Company maybe waiting for more information to add for the final draft or there could something else like an off-take being signed.

I don't see this becoming a junior mining company, as they certainly have been impying a reposition higher up the value chain to an ESG-linked construction materials company.

Good questions to be put to the BoD at the AGM , unfortunately I cannot make this one.

Amadan, I am a long-term investor and this is just the start of the journey for me.

There is real potential for life changing returns over the next few years.

The measured resource lots is already capable of a near 30year mine at 3m tonnes per year, and the full extractions rights covers a potential resource of twelve times larger.

The majority of the risk would be covered in getting 3m tonnes per year production (stage1) and after final expansion stages the production may well be over 10m tonnes per year.

I'm not phased by trolls here, as the prize for me is a potential £multi-million return. (Much higher than short-term traders).

The 5.5m shares issued to the ATM facility on 18th March, were clearly offloaded through off-book trades as to not disrupt the market price and certain entities have accumulated at a very good price.

We know this for certain due to the on-market sells not being of a sufficient number, and contained within today's RNS:

"All Ordinary Shares previously issued pursuant to the At-the-Market Facility have been placed and Axis currently holds no Ordinary Shares."

So trolls cannot attack the legal framework of the Acquisition as it is set in stone that only historic related share issues would qualify for full dilution, and any share issuances related to the acquisition , would be recalculated down using 97/3 ratio in AMG's favour on completion.

Who knows what will happen regarding the operations of extracting the PSA , UPSA will decide whether to contract out or farm-out or do it themselves, now is not the time to worry about such things.

As for the 40p , that was implied by the Company in the November circular describing it as "conservatie "

Chipsta, you're miles behind the program now, perhaps instead of trolling do some research or just read the threads below.

It's in connection with the Acquisition, so the dilution will be a tad over 100k sharesfor AMG recalculationed final completion.

You can actually make an estimate of the RTO completion (equivalent) price.

If we estimate 30m shares = 3% x completion MCAP/ 30m =

10p for every £100m MCAP of enlarged company.

The November Circular " conservatie" 40p implies £12m AMG 3% legacy portion on £400m MCAP company.

30m shares is a good estimate,

17th December clear-up issue 24m + Sattar historic CLN conversion 4m = 28m and we need to a few million shares for anything else not related in connection to the acquisition.

Rolf,

It is in relation to this specific clause contained within the November circular:

" the Acquisition will result in Shareholders having a minority interest in the enlarged group (the "Enlarged Group") and the UPSA Vendors holding approximately 97% of the Enlarged Group.... and subject to any dilution caused by the issue of Ordinary Shares in connection with a fundraising conducted in connection with the Acquisition). "

For instance, the below share issuance in connection to that fundraising meets the above requirement:

"YA II PN Ltd, an institutional investor managed by Yorkville Advisors Global, LP ("Lender"), to provide Atlas Metals up to £2.5 million to contribute to, inter alia, the costs and expenses incurred in connection with completion of the Company's proposed acquisition of Universal Pozzolanic Silica Alumina Ltd ("UPSA") (the "Proposed Acquisition")."

So pre-RTO:

8m new shares issued

raw denominator rises sharply(39m shares)

legacy holders absorb 100% of that effect.

But the clause states acquisition-related financing dilution is effectively shared across the enlarged structure.

They dilute the combined post-RTO ownership structure.

The ratio is 97/3 for the enlarged group on completion.

So the 8m ATM facility shares issued pre-RTO on the AMG Share count would only equate to 240k shares dilution within the final calculations.

It means things like this will be recalculated (on completion) to have a minute impact on AMG shareholders value.

"YA II PN Ltd, an institutional investor managed by Yorkville Advisors Global, LP ("Lender"), to provide Atlas Metals up to £2.5 million to contribute to, inter alia, the costs and expenses incurred in connection with completion of the Company's proposed acquisition of Universal Pozzolanic Silica Alumina Ltd ("UPSA") (the "Proposed Acquisition")."

People were scaremongering about Yorkville dilution and couldn't see the wood for the trees, as it will not.

" the Acquisition will result in Shareholders having a minority interest in the enlarged group (the "Enlarged Group") and the UPSA Vendors holding approximately 97% of the Enlarged Group (subject to the Company's obligations to ensure that at least 10% of its enlarged issued share capital is held in public hands and subject to any dilution caused by the issue of Ordinary Shares in connection with a fundraising conducted in connection with the Acquisition). "

Most of the post-December raises has been explicitly framed as:

“in connection with the Acquisition,”

“to progress UPSA,”

“prospectus costs,”

“working capital for the Proposed Acquisition.”

Which equates to the 97/3 split with UPSA formula, and therefore on completion that particular dilution will be calculated down to 3% for AMG shareholders.

Currently 39m shares but recalculations will be a lot less on completion.

Spooky will do well and make a few quid here then move on and probably lose the majority on another share...

Alternatively Spooky could hold long-term, see the story through and make life changing returns....

Project financing would be from the enlarged company and not the AMG shell.