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Let’s take a range 10-30m.
194 shares is 12.4% then 194+190+150 is 34%.
MNRG’s expensive court action is to sell 22.6% at a 56-85% discount the valuation range to get his hands on some cash. Bonkers.
Would any right-minded shareholders would vote for Rolf filling his pockets like this?
Rolf evidently doesn’t want the additional 190 shares because he prefers some cash instead, probably
so he can pay himself and friends. He is blaming Rocco even though he had a contract that allowed him to have an interest in oil business.
Why not let the shareholders decide what they want to do including who should be on the board.
The board need to tell us how much are the 190 extra shares (and options?) are worth and then let shareholders decide. What did align say about oil value?
The board also need to tell us the truth as to what really happened in the prospectus.
I’d like to see Rocco back (with his quick access to cash) and the useless NEDs out - let us vote or pay the piper Rolf.
Appointed a broker for debt - so what?
I still don’t understand why MNRG don’t get shareholder approval for the oil asset shares cause they are worth more now and could be used as debt leverage unlike the gold bucket and spade project?
I also don’t understand how the 190 shares dispute came about in the first place cause it was never announced in May with the option agreement RNS but they seem to say it is part of the same deal outside the prospectus? What the hell have the advisors been doing in all this?
If Rocco has done wrong then this is surely a separate matter to be proven. Rocco seems convinced that Rolf is a liar, which wouldn’t be a surprise.
Rolf should work for Eqtec’s don’t-want-to-do-but-have-to-do-something department shovelling you know what.
Rocco should get on with proving he is the victim and stop posting rubbish.
The NEDs should foxtrot oscar as they have failed to govern.
It remains to be seen who is/are the banditos.
Rocco may well be defiant for a good reason as he is a newbie dealing with a experienced board with dubious reputations and an advisor who is well known to work in the darkest corners of microcap ecm.
If the current directors are attempting to screw him to save their own butts then we should find out when defences are filed and when we know details of his defamation claim.
So many stool pigeons here.
I am wondering if there is anybody sincere from the board to advisors, partners, projects, adversaries to shares in public hands.
Pink Floyd called it 360 from pigs, sheep, money, dark side of the moon.
Wish you were here!
Time for RR and the 2C amigos to buy some stock or put some money in to reassure us that MNRG are funded to win this divorce case. New MNrG headroom coming soonish is irrelevant at this price level. Tonto Polombo could grab the reigns or perhaps RR can cancel that transaction too and get the money back to squander on an expensive high-court case? The MNRG new web-page states that the first shovel-ready (not conveyer belt sadly) project will be operational in Q2, while EQT are far more cautious with profit forecast and in any case are generating revenue now with the lego phase so they are first to get paid. Have these guys have worked in Italy before - nothing involving authorities happens fast and nothing at all happens over the summer? The market needs some confidence RR2C - so buy some shares while you have an open period for goodness sake. Step up or step out.
The prospectus below is clear. MNRG promised investors 50% of BritNRG (and controlling vote) but doesn’t mention the transaction that MNRG now want to void? If this prospectus was a fabrication then the directors need to pay.
BritNRG is an investment held by MetalNRG and is focused on energy opportunities. The investment in BritNRG via MetalNRG’s convertible loan note and the private investor group will be in aggregate £750,000 (of which £450,000 is attributable to MetalNRG), which will enable BritNRG to meet purchase commitments and all its financial requirements to maintain the current operations and priority interventions, so as to keep the business running on a stable footing for the next 18 months at least. The convertible loan note entered into by MetalNRG and BritNRG is thus for a total amount of £450,000 payable in 3 tranches. The first tranche of £25,000 was paid upon signing of the heads of terms, as announced to the market previously, the second tranche of £150,000 was paid on 13 January 2021 and the final tranche of £275,000 is to be out of the proceeds of the Placing.
MetalNRG is party to a conditional shareholders agreement on 13 January 2020 which provides that upon MetalNRG converting the loan notes which it holds, BritNRG will be owned 50% by MetalNRG and 50% by international private investors, who form part of BritNRG’s board of four directors and provide an experienced management team to the company. MetalNRG will have a casting vote at Board level in case of tied voting.
The boys are resetting after some poor decisions and having drifted from mission. W Newton is evidently the focus assuming stimulation can be shown to be effective but it is higher risk than first thought so needs cash behind it. £20m would be a V for Victory - probs less. Reduce Californian dreaming. Partially part with Parta. Reload with low risk. Back to 0.6p.