Member Info for Welshie7

And I use "nice" in the loosest possible terms.

At a nice premium then?

OK, we get it nickel, you don't see any value in this company short, medium or long term. Good job you haven't or. Will never invest here. Appreciate the concerned warning. In your expert opinion, how long does the company have left?

"Did say 0.70s and for what it’s worth i think within two weeks you’ll see a placing announced around the 0.65p mark. Given these things take around 4 weeks to line up. We will now have shares being flipped very quickly under the radar before share drifts to around 0.4/0.45 mark by June, with further dilution"That's one hell of a ramp, I'd love for them to do a placing at 0.7p, happy with 0.65p too. Wouldn't even care if they did a placing at 0.4/0.45p. As Chesh mentioned earlier we have the money set aside for the lithium jv to possibly use if that hadn't been spent, but raise away at those prices.

"Will the DD bring up any special requirements, how many warrants will be required, why does Merc need more warrants?"

The security on the warrants previously issued are not sufficient. Until the loan from the Swiss bank is agreed and paid, then security would be needed no? Also the increase in warrants can then be used as security if the loan from the Swiss bank goes ahead. Probably the main reason for the increase. Would you give a $10m loan without any security?

"Merc T1 was an off take, why payoff anything, use loan cash from Swiss to open BP and use BP production to pay off Merc, after all Manaila could pay off T1 easily back in 2018. There was no need for BP at all for the whole $9.5M"

The deal with Mercuria was a prepayment finance offtake, as we received a prepayment, this is incurring interest charges. Why incur interest charges on a prepayment and a large bank loan. Doesn't make financial sense for the company to go down that route.

The bank loan will pay off Mercuria, we only have interest accruing from this loan and VAST can then look at just normal offtake agreements, which may actually be better terms than the the current offtake (conjecture on my part as I wouldn't know if the terms would be better, worse or the same).

The company has just reduced it's balance sheet liabilities considerably. It doesn't now need to have a bank loan and a prepayment offtake on it's books at the same time.

Kind of like a bank giving you mortgage but not putting a charge on the property. Just silly!

So you don't believe the Swiss Bank exists TBTT?

Also the warrants they will be asking for would be used as security on the loan, so no, they aren't going to be converted in due course. Would you give a company $10m without any security against that loan? No of course you wouldn't.

Just like Mercuria wouldn't give us Tranche A of the prepayment offtake without some sort of security (that being the 565m warrants). Those warrants haven't been converted have they?

Also, costs do not outweigh sales, as the company made a gross profit last year. Their expenses do however, outweigh, hence the net loss.

How many times do you want to repeat yourself? We are very well aware that the company won't make a profit until late 2019 and then in to 2020. A company doesn't make a profit it means it spending more than it makes. Very obvious that no. What I don't get is why you keep posting the same thing throughout the day, do you have OCD?

It's forecast that the company has sufficient cash-flow to see itself through to profitability. Even so, there is over £3m in warrants/options to exercise.

As warran****cher says, there is also the possibility of debt financing, or other routes.

But if you are desperate to have a placing, call the company and see what they say. What buy in price you after?

OK, I think everyone gets it Nickel, you're desperate for a fundraise

I'll give the board some credit, they at least know how to budget well. But since their last raise in November 2017 will have working capital run out in June they need to pull something out of a rather dusty hat before the collection box can be passed around.

Unless they been playing the Euromillions and that's their hope for working capital.

Exactly isas, if we have a 3rd party financer that wants the diamonds, then if SSGI match the offer, then they can up it again. So unless I'm mistaken, then we're not really over a barrel.

Its different if VAST don't want SSGI to fund it. But we're not worse off going with them.

I thought SSGI had the option of matching any 3rd party finance. When did that change to SSGI are entitled to a slice of the diamonds.

https://www.equitydevelopment.co.uk/edreader/?ltkn=40fd60866a5583961332d4eb553a154clNG4InM%3D&d=%3D%3DwM3QjM

Go on then, let's see your "calculations"

Except it wasn't this BOD that cost you a small fortune through massive dilution though was it. It was a previous BOD and a previous company. Bidstack have nothing to do with your investment choices in Fitbug/Kin. A bit like blaming the next PM for Teresa May's choices.

I made the stupid decision to invest in Fitbug, but I'm certainly not blaming James Draper and the BOD for the performance of a previous company's decisions. Instead when Kin announced the RTO of Bidstack, I did my research and was happy to invest in Bidstack (obviously not everyone feels the same, so fair enough). The averaging down has gotten me my previous investment back and more.

Certainly a nice gradual rise since the beginning of the year. Could we have a background buyer building a stake, hence the gradual rise?

Company said in last operational update, early as possible during spring months. If weather has improved, hopefully sometime this month. But company would be best to answer that.

Wouldn't a pump and dump require you to also dump the stock as well? More of a pump and hold no?

As ad says, make your own investment decisions, nobody on here made you buy/sell/hold.

Obviously depends on what price you get for your buy of course