Member Info for xel123

Dibs

"Because they don’t yet own 83% of the company! It’s a projected hypothetical future valuation!"

Yes , we know that. Are you saying once they invested the money they will get 83.33%?

So you are saying projected hypothetical future valuation is £78mil and our share price will be 4p? 5p? Maybe a bit more.

Don't think your calculations are adds up

Dibs ,

According to your analogy

"$81m convert to £ is circa £65m so £13m + £65m = £78m"

So based on this we own 16.66% and the LB own 83.33%

Why would someone own 83.33% of the company demand only 50% of the profit? Why not 83.33%?

Even with your valuation of £78mil , share price would be 30p (6x ) of the current market cap of £13.

Hi Dibs,

May be I don't understand this unique situation.

I think it's best to wait until we see the Agreement rather than speculate about the outcome.

One thing I don't agree with you is that your price prediction of "4p? 5p? Maybe a bit more " as we were well over 10p prior to the licence cancellation also without any MOU so surely we should be at least 10p.

Forgot to mention that the institutional investors just invested another £1.3mil @4.25p voluntarily. Surely they will not invest that kind of money without any decent return

So the current situation

We have couple of licences with proven assets ready to develop with JV mou signed - Current market cap is £13mil (5p share price)

Let's say LB Group inject $80mil and devlop the asset but demand 50% of the company and 50% of the profit.

That means they value our asset for $160 mil (£127Mil). Almost 10x of the current market cap(50p)

Let's say LB wants 60% of the company. So the market cap would be $135mil (£107m). Almost 8x of the current market cap (40p)

Even if we offer 70% the company , Market cap would be $115mil (£91mil) . Almost 7x of the current market cap (35p).

Just some funny numbers 🤣. I'm not ramping

I remember Greg was saying that even at 20p ,our share price would be greatly undervalued.

If they wants shares then they might not get 50% of the income

What are all these AT dealings for a very small amounts ?

Can anyone explain what these are please as this doesn't make sense.

TIA

Hope directors will buy some shares to restore the confidence

My final topup 😁,

176,001 @ 5.25p

Mm's are not showing my transaction.

Who these investors are ?. Why the company is not disclosing the name of these investors?

Is this the same Non UK investors who had a opportunity to invest at 1p in July 2023?

While appreciating all the great work BOD has done over the last 12 months to protect shareholders, these funds raises are sounds like treating their mates for a bigger gains.

"from an existing Australian shareholder holding over 5% of the Company's current issued share capital, with the balance being provided by one other investor."

MM's drop the sell to 4.80p to encourage traders to sell but no one is selling 😆

Not directly related to our business but its certainly getting interesting

https://www.adaderana.lk/news/95157/sri-lanka-likely-to-approve-sinopecs-45bn-refinery-proposal-on-monday

Https://x.com/MetalsCapital/status/1724733557354954861?t=viyg53nadK90qfzRXZh-5w&s=08

It's getting better and better. They are getting rid of corrupted officials rapidly. We are in a very strong position to start the project ASAP.

https://www.adaderana.lk/news.php?nid=94746

Can sell 750,000 at one go @ 4.356p.

Must be a big demand

I remember someone mentioned here about 9M warrants at 12-15p due to expires Jan 2023.

This must be the reason company is trying to complete the JV by end of the year.

SidR,

Not sure whether you heard that the company is not interested in going below water table at this point of time. They can go up to 14m and the these very impressive numbers are based on ONLY 3M. Imagine if we go up to 14M how these numbers would be ?

I'm not sure why are you not appreciating all these great information and just find something even company is not interested at this point of time.

No fund raise required before the JV and $10 mil at the point of signing the JV.

This is a massive news 👏

JV before end of the year.

Fantastic

Very disappointed about the reaction from the market 😞.

We may end the day RED.

"The presentation follows the resumption of mine construction planning "

They must have agreed something about funding. If not what's the point of resumption of mine construction planning