Member Info for tbow112

"At least a discounted placing would have been done and dusted. "

Forget placings. The obvious way to raise money is through an open offer.

Are we sure that EEE does not keep a share register in London ?

"making unwise, and costly, decisions."

This particular board is very unbalanced towards the positive side. There are clearly substantial sellers of EEE around and it is unlikely that they are entirely naive.

"All this back and forth but has anyone bothered to ask the company? A simple email will clarify things."

If the company reply.

Difficult to see why algos are in any way prohibited and much of the market presumably consists of algos competing against each other. That said, it might be sensible for someone to investigate how they influence the marketin the UK.

In the meantime there are far more obvious things for the FCA to do.

"Yes, we need to know more about Mozambique"

The history of the Sena railway, which REE will presumably use, is quite informative.

SpotThe Nutters, Perhaps you would care to explain where you go to investigate the potential downsides of a quoted stock. I dont think that I have ever discovered anywhere better than bulletin boards - which is not to say that BBs are particularly good but simply that I am unaware of anywhere better..

"Agree, much prefer contributors who are enthused by the investment they hold."

That is pretty silly. If you want to make money you need to know about the bad things that might happen - and the sooner you know the better.

Given that Pensana have not bothered to ask their own shareholders for cash it is difficult to imagine them desperately looking around, and very difficult to see how they could have approached Cascade. It seems to be almost certain that Cascade approached Pensana.

"because Pensana has to give away a lot of value to Cascade in order to compensate Cascade ........"

That is rather odd logic.

It seems to be pretty clear that Cascade were out looking for Pensana or something similar rather than the other way round.

The share price has hardly moved since the "strategic investment" was announced.

Thanks, Schlemiel.

That link is interesting but does not actually answer the question.

Is there anyone here who knows how the quoted bid and offer prices (not the real prices but the ones that are quoted on LSE, etc.) are determined ?

"I wonder if two of the big investors have got their wind of a potential takeover so topped up to max out?"

Looks like they have just demonstrated that $25 million could easily be raised in the current market.

" Cascade are putting 150 million into Sable, for 38% of the equity. $50 million of that will be used to cover the cost of the additioanl programs (Drilling and recovery circuit). "

This sentence seems to illustrate perfectly that you are again double counting incoming money. $50 million is part of the $150 million and there is no reason to count it a second time.

Cascade are putting 150 million into Sable, for 38% of the equity. $50 million of that will be used to cover the cost of the additioanl programs (Drilling and recovery circuit).

"OscarGolf,

The percentage ownership of Ozango will change, just as it did when FSDEA injected its $25 million into the project.

The $11 million drilling programme, together with the Dy/Tb recovery circuit, has been estimated at between $30 million and $50 million for the same project. Taking a midpoint of around $40 million, this brings the combined requirement to approximately $50 million when added to the drilling.

This additional equity will be injected via Sable through the issuance of shares. Consequently, the percentage shareholding will increase.

This was already advised in the RNS, which stated that the shareholding will increase once the final structure and capital injections are finalised."

All this is totally irrelevant to OG"s calculation.

"it’s up to you if you learn the rules "

The rules are that as a public company you try to avoid offering special deals to particular shareholders.

Unfortunately the FCA are pretty hopeless at enforcing the rules.

"potential $25m shareholder support is fantastic news, assuming the latter isn't on abusive terms."

On further thought, given TUN"s history, this is definitely bad news.

If the company wants to raise money it should do it through a proper open offer, and not through the sort of nonsensical arrangements it made in February.

It is well beyond time that they realise that they are a public company.

Why do you guys look at the quoted spread - it has nothing to do with the real spread ?