Member Info for SmoothOperater

Traders got their backside handed to them on a plate with the two big price drops.

Investors know, they were mechanical process drops, and therefore I haven't stopped trickle buying, increasing my overall holding.

The irony is the company currently in the best position it has ever had to complete the RTO, and the shareprice doesn't reflect it.

Before the price rises

Wish I knew , definitely Q1 for completion IMO

Once the overhang is gone and the newsflow starts, the shareprice will rise in anticipation.

The company has raised circa £600k just a couple of weeks ago, they should have enough funds available to get this RTO over the line.

CPR upgrade is in progress, drilling is staged, and funding looks in place. On that basis, Jan–early Feb is a reasonable expectation, subject to assay turnaround.

Looks like the 11p placement shares are being redistributed at 11.5p

Fee/settlement shares below 11p

Volumes has picked up as they work through the overhang.

Peel are not ditching, they are acting as a broker/ intermediary, and have redistributed around 240k shares in 5 working days.

The threshold dates align with the RNS December 17th, to support this.

Redistribution may continue or they may reduce, most likely PEEL will hold a 3-10% position. (Standard practice)

The current slow pace, supports the 11p anchor set out by the latest placement, as expected from a broker.

At the moment we are seeing UTs, matched trades , stable volumes, and now a broker stake reducing that is all consistent with redistribution.

It looks like a mechanical clearing, not a fundamental unwind. (Ditching)

The £1bn figure is the fixed SPA consideration, not money being raised and not an “audited NAV”.

The independent CPR already values the asset higher (£1.63bn at 15% discount, inferred).

The RTO is structured on a 97/3 split, which shareholders have already approved.

There is no automatic post-RTO dilution beyond what is disclosed in the circular.

Any re-rating will depend on the upgraded CPR, offtakes and funding terms — not short-term share price moves.

You're absolutely right, and that's why Chadwick has said £1billion MCAP near-term (after expansion, I'd guess)

No one , can work out the relist price with only half of the equation available.

Better to leave it to the experts and see how much they find in the CPR and offtake agreements....

£1bn is the agreed transaction price, not a CPR valuation.

The CPR exists to validate and de-risk that price, not to invent it.

£1bn = paper consideration settled in shares, fixes holders at 3%.

£25m = separate RTO funding at completion.

Confusing those two is why the maths looks wrong.

No. That assumes £25m is raised by issuing AMG shares, which is incorrect.

The £25m is part of the RTO funding at group/asset level and dilution is already fixed at 97/3.

There is no x10 dilution or path to 0.5p from that structure.

Posting history says it all.

No one has said “£1bn is being raised by dilution”.

£1bn refers to the SPA valuation of the asset, not cash being raised.

The actual cash funding discussed is £25m, which is part of the RTO structure and is applied at the asset level, not via issuing billions of AMG shares.

Existing AMG shareholders retain 3% of the enlarged group post-RTO as already approved by shareholders.

There is no scenario where £1bn is raised through equity at micro-penny prices, that's misleading to say so.

Another Troll has returned, welcome back to the party Sonic.

Clearly the same ilk as Shaml, and just as misleading.

Late reported 700k shares trade, no one had that size two months ago without a TR-1.

The above is confirmation of the trades not being related to the RTO and instead it is related to historic debts being cleared with shares that were voted on at the GM on December 1st.

I thought Shaml was a bad deramper, but Carmzy is worse lol

I wonder why the shareprice has dropped so much since the GM on December 1st, it's got absolutely nothing to do with the RTO and everything to do with fee shares. IMO

From today's RNS:

"expected to include certain JORC resources being upgraded from the inferred to measured category, prior to the completion of the Proposed Acquisition."

Levels of confidence in resources, from low to high:

Inferred

Indicated

Measured

They're planning on the highest level of confidence for the CPR.

Absolute maximum approx 1.2billion tonnes

For world class is 500Mt - 700Mt and that is where they are pitching.

Ignore the noise.

Offloading cheap shares on a positive update.

You can buy below the latest placement currently!

RTO looks to be going through as they are increasing the value further.

Worldwide Offtakes potential, carbon credits should be a value multiplier.

Shaml89, you're completely wrong again trying to mislead shareholders.

There is no wording in the circular that the £25m is a stand-alone AMG placing outside the RTO.

If it were outside the RTO:

it would have to be explicitly disclosed as a dilutive placing to existing AMG shareholders, and it would change the stated (97%/3%) post-transaction ownership, which it does not.

The £25m funding is part of the valuation and does not ‘wipe out’ pre-RTO holders. Comparing it to a £500k legacy clean-up raise is misleading.

Shaml cannot reference it because the £1000 because a legal rights transfer nominal fee.

TW used some information, and framed it as a dodgy deal for his readers.

TW didn't mention:

The original holders hold a large equity position in UPSA/ on-going economics / royalties / participation.

The SPA valuation is £1 billion, the current (independent) CPR valuation is £1.63 billion.

The above implies a normal 30% - 40% discount SPA to CPR NPV, for an asset at this stage of development.

The CPR is being upgraded, it will increase confidence and NAV, widening the discount further than 40% to the fixed SPA price and improving the risk-reward for institutional investors.

The shareprice has dropped significantly, but that doesn't change the economics of the RTO.

Historic debts had to be cleared and it was accounted for within the circular.

The current shareprice is not reflecting the transformation that the RTO transaction will bring.

Great time to buy