Member Info for tbow112

Mumbles might do better if he learnt some arithmetic. 95 million shares for $100 million is $1.05 a share. At todays exchange rate $1.05 is 78.9p.

Pensana is now a well established project generating international interest. Raising equity at a significant discount (unless it comes with significant other advantages) should be well in the past - there are massive amounts of money looking for a home.

And raising an important amount without an open offer should simply be prohibited. It is the sort of thing that gets the LSE a very poor reutation.

Nothing to do with value creation. It is a poor deal.

Https://www.lse.co.uk/rns/TUN/bridge-loan-project-financing-cln-update-0xayr0nnl3hbvbw.html

A very poor deal from TUN management to clear the CLNs.

Issuing new shares at a significant discount is not good news. The company needs a new financial advisor.

Bfj, Could you provide a link to something comprehensible.

I would hope the opposite and that friendly relations with LG might turn out to be useful.

Or from the 2025 interim report - "The total number of options outstanding at 30 June

2025 is 67,200,000."

Dustfilter, page 46

Last annual report says 74m warrants and options outstanding, of which 20m have presumably been exercised. Does that need correcting ?

Doc, warrants and options.

Ademcg, you appear to have forgotten that EEE shareholders are only entitled to a little over 60% of Pitfield.

Does anyone here know how the officially quoted price for a share (which is used to decide the buy/sell description) is actually determined ?

Mottie, The first thing to realise is the only concrete information is that a deal has taken place at a certain price - whether it is a buy or sell is simply a computerised guess which is quite frequently wrong.

The second thing to realise is that the market is made by market makers who have a lot of extra information and shift share prices around to suit their own ends. For example if a MM has a large order to buy they may be very keen to lower the price of that share.

Golferboy, you are being totally naiive.

If a marketmaker has an order for 10 million shares at 50p they are not going to reduce the price just because people are selling at 47p.

"No big buys or sells. Both wrong. "

Golferboy, why do you think that big buys or sells have any relevance to what is happening in the background ?

With apologises to those who are fed up with personalised posting !

"No big buys or sells. Both wrong. "

Golferboy, why do you think that big buys or sells have any relevance to what is happening in the background ?

"My guess says a big sell being filled in the background at 43 or so"

My guess says a big buy being filled in the background at the lowest price the marketmaker can manage.

There even appears to be evidence - "Afternoon, why so many buys yet its still dropping it doesn't make sense."

"I’d run the numbers but sure who’d read them."

One volunteer to read the numbers (with considerable interest).

Why would you have "faith in the team" when the CFO has just resigned at a critical point in the company"s evolution ?