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Food for thought, thanks BT.

Mms Still not reporting buys.

But doesn't forward selling have the pre-requisite that the company doing so, have to receive the shares in a reasonable time frame? 5 months doesn't seem very reasonable to me. Happy to stand corrected, but I don't think they can forward sell with no hope of getting the shares from any conversion notice until May, what right minded MM would facilitate that?

Mms not reporting buys, don't fall for it.

I've spoken to a few well read bears and bulls.

Will Atlas still be able to forward sell, or, because there is not a reasonable time frame for them to actually get the shares from conversion notices, are they paralysed?

The former will just mean more of the same, the latter could mean a sustained rise.

Bulls vs bears. Let's see who called it right.

41m buy someone likes that there won't be conversions.

That's why I said "Should", Mr Million

Still, today is a positive, no more conversions and the chance of some news between now and March, SP could recover considerably, also meaning the Vwap for conversion march onward, if they continue could be at a higher price, also minimising dilutive effect.

And we know why it's taken a lot longer, difference in codes has made the Lohum deal far more complex. Glencore use the same codes in Germany as we do in England, so Should be more straight forward.

I don't think we will get an update on Glencore until mid to late Feb. TFS applications take 12 weeks normally. I'd like to see more feedstock and Libox deals in the meantime.

Haven't taken a salary in 8 months. The decision to not go ahead with the capital reorg seems to be in investors favour.

Todays rns means there will be no more conversions until March.

By which time the bod should be able to start selling crml shares and pay off the cln.

It is a real skin of their teeth scenario. But perhaps the best defence at present to negate the dilutive effect of the cln until it can be removed entirely.

Interesting though, perhaps a more orderly selling regime, on 10m shares to be issued.

BT, what do you make of that?

Also, the bod have not taken a salary for the last 8 months, why they didn't rns this is beyond me. But they told share holders this at the agm. Another good thing, that the market should have been made aware of, certainly would have dampened the negative sentiment towards them.

Leinster will be of little help, the Co needs these TFS licenses for lohum and Glencore to come in if it is to survive, plus alternate near term financing for Recyclus, they appointed a new finance director yesterday so perhaps help coming in that sense. Revenue is needed to pay the defaulted loans, I would imagine first CLG and then Atlas. One good thing that has come post Agm is the capital reorginastion was cancelled, so shares cannot be issued below 0.001, one small glimmer of hope, but the situation is still dire until revenue can be realised and debts paid.

You are getting conversions and drawdowns

Drawdown is when TM1 take money from the debt facility to finance activities... And inflated salaries.

Conversion is when Atlas convert the debt into shares at the lowest price in the last 10 days, then sell into the market, at the moment at a very healthy profit. This slowly knocks down TM1s debt, as we saw last week they converted 80k so that's knocked off the remaining 1.7m owed

Very slow process that will continue indefinitely until TM1/Recyclus can start knocking it down with revenue or crml share sales...

Alex sold 150k to keep the lights on Troajan, as BT said there hasn't been a drawdown since June.

Blessing and a curse, we don't want more debt, but at the same time the lack of funds combined with the years delays in generating meaningful revenue have driven things right to the wire.

Agreed.

I wouldn't want to be Alex and Robin at the Agm.

The question is, will they be able to keep the lights on long enough for revenue... And potentially selling crml shares.

White knight....

Dusty, the truth is somewhere inbetween both schools of thought.

To summarise the good things of late, Mod contract, Halfords adding to existing feedstock deals, Glencore offtake, lohum... Eventually. Leinster, even though it's a much smaller amount than expected, if we can sell it , it will pay off our debt. And the new legislation in January, that should mean more feedstock deals.

The problems: poor bod, poor contingency planning, god awful cln funding and all the other issues highlighted in the accounts.

I don't think there is a white night coming, they either pull off selling black mass and lots of it, soon, get the crml shares sold enabling us to start knocking the debt down. Or not and we get diluted to hell or worse.

Next 6 months will be very interesting.

If we don't get a Tr1 notifying us of our II and their holding BT and Co are correct.

Its that simple. That's the proof required.

Haha it best not go pop then, otherwise Batman and Robin will be getting tarred and feathered. Along with all involved.

I wonder if the Glencore offtake will save their bacon in time. We will see.

I figured I hadn't read up when you later posted CLG correctly.

Thanks for the tuition both, it is appreciated. Certainly food for thought.

I'll be very interested to see what happens next.