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Spike to 13, drop back to 12 by the end of the day.

Can’t see this getting anywhere near 20p on Tema or more waffle alone.

Counting down the SP ? 11.

YA don’t think it worth waiting for the SP to be in profit for them to share.

The wait continues.

Probably need to change the board, rename, move in to exploration and load the company with debt, then the pump crew, twitterati, turd polishers etc will ramp it up 500%.

In the meantime , nobody is interested sadly.

Nobody mentioned the 149 after the previous 145’s. Buckle up boys !

Pretty standard. There’ll be those who sell because they’re 5% in profit and wet themselves and those who sell because they’re only 5% loss and see that as a victory.

Funny old game.

I think the only multi-bags on here are those Caviar flavoured Walkers that Bumbly Towers ordered a few years ago. Probably soggy now.

Proud owners of 14 million shares. Now they just have to pay for them, but who knows how much they’ll have to pay over the next 12 (possibly 24j months !

Correct.

There goes Mr 131535 , bought yesterday for 10.30 sold today for 10.32. Not even 5% more like .5 but profit is profit.

A few chunky sells this morning, someone wanted out.

Next few days may show what they knew that we didn’t.

Or will our next ‘positive’ news come on the day of , or just before, the AGM ?

Jimzi - just to pick up on one point.

I read it that the investor can sell as much or as little as they like - within limits - over the next 12 months, extendable to 24 at their discretion. There is no commitment to a 1.25 million figure each month.

Also, still concerned that PF has discretion to issue CLN rather than pay a monthly instalment. I don’t think he gives 2 hoots about shareholders, shares in issue or the share price and would gladly keep the cash.

Gibbo - I suppose my thinking is one sided. At the moment they haven’t paid anything for these shares, the money they hand over depends on the price - lower the price, less they pay.

The question then comes in that a low price means they get less also from selling so I take your point somewhat.

Maybe I read it differently. I see it as that they have subscribed and will receive 14 million shares at a ‘theoretical’ price of 12.5p. The proceeds for those 14 million will be received in monthly instalments for the next 12 months and the actual amount received each month will depend on the share price. In that regard we may not receive £1.75 million after 12 months but actually less. The 12.5p is actually just a valuation figure not the true figure being paid for these shares.

Sorry - finger trouble halfway through hence the first truncated post.

Jimzi - not sure I agree but then still struggling to understand this fully.

On the loan I see it that we have issued 14 million shares for a theoretical 1.75m pounds. The amount we really get are spread over 12 months and depend on the share price each month. We could get much lower if the price stays low and whilst they can’t short, they have 14 million shares to create a big overhang drag.

For the loan to repay the CULN, whilst that can be repaid each month, PF could instead keep the cash and issue a CLN instead. In theory we could’ve swapped a 2.25m CULN for 3m of CLN’s ? Highly unlikely but I wouldn’t trust PF not to go down that route at some point.

Of the initial 1.5 m drawdown how much has gone towards paying back the CULNs and how much held back for working capital. I guess we won’t get to know that. I assume that none of the CULN has been converted at the 10p price as we’d have to issue the shares and announce accordingly.

My fear is that this has put a lot of stock in the hands of these institutions and potential control of the SP for at least the next 12 months. Whilst they can benefit from an increase in SP history tells me with these sort of arrangements that the SP tends to be worked down as low as possible - look at our past dealings with Darwin.

I may have read some of this wrong, not clear how this 12 monthly payments gets calculated when they talk about the difference between the 10 day price and the benchmark 13.625p figure.

It still looks to me that, worse case scenario, this could cost more than the old CULN’s but the whole detail is very opaque and depends on what happens in the next few months.

As ever a lot will also depend on how much PF has to announce that may lift the SP . Tema doesn’t look like the hotly anticipated catalyst so can we expect something extra ?

Jimzi - not sure I agree but then still struggling to understand this fully.

On the loan I see it that we have issued 14 million shares for a theoretical 1.75m pounds. The amount we really get are spread over 12 months and depend on the share price each month. We could get much lower if the price stays low and whilst they can’t short, they have 14 million shares to create a big overhang drag.

For the loan to repay the CULN, whilst that can be repaid each month, PF could instead keep the cash and issue a CLN instead. In theory we could’ve swapped a 2.25m CULN for 3m of CLN’s ? Highly unlikely but I wouldn’t trust PF not to go down that route at some point.

Of the initial 1.5 m drawdown how much has gone towards paying back the CULNs and how much held back for working capital. I guess we won

No response

However this is structured and whether perceived as good or bad, it’s fair to say that this has popped up bang on schedule. For the last couple of years company has raised around end of Jan and then 5 to 6 months later.

PF will probably argue that this puts us on sound financial footing but it doesn’t matter how much revenue and business we sign over the next few months , we can fully expect another round later in the year.

This is a hell of a lot of shares that these instos will be looking to shift on to retail Given that many already have more than enough of a stake here, what is PF going to do to draw interest in to here. Maybe sign something !

it’s gambling - just to clarify, my comment on the last placing price was to correct the previous poster who’d suggested that 2.5p was last price funds were raised.

I hold having bought in around six months ago and agree that price is stupidly low, though a bit of company PR wouldn’t go amiss. They seem very quiet over the last 6 months.