Member Info for TB500

During the first ten months of the 2024–25 fiscal year (July to April), Bangladesh has repaid more in foreign debt than it did over the same period last year.

A report released today (29 May) by the Economic Relations Division (ERD) states that the country has returned $3.507 billion to development lenders so far this fiscal year.

ERD sources noted that the burden of debt repayment continues to grow, largely because grace periods for several major loans—used for large-scale infrastructure projects and budget support in past years—have now expired.

Interest payments alone rose by 12.95% compared to the same period last year. By the end of April, Bangladesh had paid $1.297 billion just in interest to its development partners.

That means roughly 37% of all repayments were interest—a clearly unsustainable trend, especially amid an economic downturn.

The only viable path forward is for the country to focus on mobilizing domestic resources rather than deepening its reliance on external loans and high import levels. The current interim government, with its unrealistic outlook, is unlikely to stay in place much longer.

Incredible rise here only had couple of thousand but happy with the profit

Blue Star Capital holds a 27.9% interest in SatoshiPay.

This stake was valued at approximately £4.65M

Mcap £2m

Already 100% needed to equal with satoshi value

This will only get more valued

I seriously doubt much of this will drop through to Ebitda, let alone PBT. I have said before these types of companies are only able to win these contracts because they do not need to make a profit. Everyone who needs paying gets paid out of admin expenses or cost of sales. Leaving zero profit for share holders.

I dont know why you are excited about £3m net cash. Look at the interims,

"cash from operations -1.4M" - It costs £1.4m to run this business for 6 months. How will a £4 million contract over 3 years make any difference?

Bear in mind it costs £750k to be listed on AIM, this figure is well publicised form the various delisting RNS. It would make most sense to delist this, and at least save £750k extra per year. There is no benefit to them being listed, no one will ever put in here for a equity raise, so why be on AIM. They failed at gold mining and now they have failed at Cyber security.

My view is that lccm has been a huge millstone round the Company's neck for years. Its held us back big time.

If the new management can get shot of it soon and bag c.£4m+ in the process then, that should massively improve progress at Redmoor. Cobre will continue to do what it does and Redmoor can be developed in to a marketable project.

I note that Waldorf's CEO, CFO and Chief of Staff ceased employment with the company last Friday. The long awaited financial restructuring, promised no later than May 2025 has still no been announced publicly.

Now would seem an opportune time to 'hoover' up their interests in our licences?

They have 2.42% in Bittern. If we acquired that we would then hold a 67.05% interest in Bittern. Dana holding the other 32.95%.

They have 25% in Columbus If we acquired that we would then hold a 100% interest

They have 2% of the Triton FPSO. Acquiring that would take our interest up to 48%.

It would seem that Waldorf could do with the cash.... so at the right price.... why not?

Just seen the RNS confirming Ajax has completed the acquisition of Puna Metals S.A., giving them full control of the Eureka Project in Argentina. This was first announced back in April, and now it’s official.

A few thoughts for anyone looking at this:

Ajax now has a real asset – no longer just an investment shell. Eureka is a polymetallic project (copper, gold, silver), so there’s upside if they start drilling and results are positive.

They picked this up from Bezant on what looks like favourable terms – could be a bargain if the geology stacks up.

Argentina is attracting more interest from big mining firms lately. Despite the risks, it's still underexplored.

Argentina isn’t the easiest jurisdiction – inflation, political instability, and a history of changing mining rules could cause issues.

Eureka is early stage – no confirmed resource or feasibility yet, so it’s very speculative at this point.

Ajax will need funding to explore the project. That probably means dilution unless they’ve got something else up their sleeve.

Worth noting Bezant sold this – begs the question why they didn’t move it forward themselves.

Bottom Line:

Interesting move from Ajax and one that could pay off long-term if they execute well. But definitely early stage, high risk/high reward territory. I’ll be watching to see what their next steps are – especially around exploration plans and how they’ll fund it. Don’t seem much interest as the moment so might be worth a punt once trading resumes.

Seems we're stuck around the 115-120 range, which is perhaps a reflection of the current 2025 consensus. Need a bit of stimulus to push on. Things like positive CMA result (possible update end of May), Govt announcement of improved homebuyer scheme (current mortgage guarantee scheme expires end June), another rates reduction, and a general improvement in the TW/sector financials. Could also do with more TW sales outlets as they've been on the slide.

Why on earth would an Mcap of £6m be ludicrous? £6m on 3.5m EBITDA BUT completely ignoring:

£1.9m loss in H1 last year

Debt of £2.5m

Cash only £1.4m and falling the last three periods in a row

And then the inconvenient truths:

CFO suddenly leaving

CEO following behind(!?)

Recent cancellation of £13m contract with NHS

SINGLE CLIENT in the NHS.

What is there to be rosy about?! One more bit of bad news and it could be curtains, do you now realise the position here?

Morning… market likes the thought of Dec elections new govt Jan 2026 and Gcm getting the green light??…….so just to recap on events for anyone looking in

Gcm results a few weeks ago,”Outlook”…govt,business leaders and anyone that knows imported fuel is bankrupting the country is now serious about coal extraction by open pit method,all hinges on election time line not a case of if the coal is extracted but when….

36hrs ago Bangladesh army general is angry about the situation in his country regarding law and order,business capitulation and infighting he issued ultimatum to interim govt to get elections done in Dec or sooner as he wants a new govt in Jan 2026

This ultimatum along with pressure from politicians to get an election done by year end causes the weak interim govt leader to threaten resignation.

And here we are today…..I personally think this interim government will hang on with its bare teeth and speedily complete basic reforms along side election preparations for Dec,they have no choice now…..the electoral commission will be ready in early June and the country is sort of paralysed without a democratic government….

Plenty of information on the Gcm website particularly the last results outlook….

[LINK REMOVED]