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MUST Mustang Energy Plc

5.50

0.00 (0.00%)

30 Dec 2024 - Closed

Delayed by 15 minutes

Mustang Energy Investors - MUST

Share Name	Share Symbol	Market	Stock Type
Mustang Energy Plc	MUST	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	5.50	00:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
				5.50

more quote information »

Industry Sector
NONEQUITY INVESTMENT INSTRUMENTS

Top Investor Posts

Top Posts
Posted at 27/6/2024 07:24 by megaman2 An ies stock and founder has a history of explosive volatility ...I'm holding .anything is possible here interesting thx launch has come without any hype etc ..probably a placing first to let some more related investors in before the paid ramping crew starts ... Read Full Thread Reply
Posted at 01/5/2024 06:24 by begorrah88 From the annual report A draft prospectus was filed with the Financial Conduct Authority (FCA) and it is in the FCA review process. It is currently expected that should the Proposed Acquisition proceed to completion, subject to FCA approval the prospectus will be published during Q2 2024. Then... To cover backs & ensure the Gallegos band wagon can keep rolling Going Concern On 23 November 2023 the company issued £200,000 10 per cent. unsecured convertible loan notes (the “November 2023 CLNs”), the proceeds from the November 2023 CLNs were used to satisfy trade creditors and future working capital. The November 2023 CLNs mature on the 31 May 2024 and convert automatically on Readmission at a conversion price of 6 pence. On 4 April 2024 the Company executed subscription agreements with 3 investors to issue a total of £200,000 unsecured convertible loan notes (the “April 2024 CLNs”). The April 2024 CLNs will bear no interest and subscription by the investors shall be conditional on (i) the approval of the Company’s shareholders of the Proposed Transaction; and (ii) the approval of Cykel’s shareholders of the Proposed Transaction. The April 2024 CLNs will mature on the 31 May 2024 and convert automatically on Readmission at a conversion price of 6 pence. Under the terms of the November 2023 CLNs Instrument, the November 2023 CLNs are automatically convertible into new Mustang Energy Shares if Readmission occurs on or before the Maturity Date. If Readmission occurs on or before the Maturity Date, the Directors, having assessed cash flow forecasts prepared for a period of at least 12 months, are of the opinion that the Company will have adequate working capital to meet the overhead costs of the enlarged group and given that upon Readmission the proposed acquisition would be unconditional. If Readmission does not occur by the Maturity Date the Company will need to raise additional funds through the issuance of debt or equity to pay overhead costs for the next 12 months from the date of approval of these financial statements. This will be to fund redemption of the November 2023 CLNs, due diligence costs for any new acquisition, publication of a new prospectus and readmission of the entire issued Mustang Energy Shares to trading. The directors are confident that sufficient funds will be raised in this scenario. This line made me laugh - Key Performance Indicators (KPI) The sole KPI for the company has been to source a suitable acquisition target. As at the date of this report this KPI has been met with the acquisition of a 22.1% equity interest in VRFB-H in April 2021. It does look as though they recognised the shame of them all having their snouts in the trough until the Enerox deal finally collapsed last year and stopped taking money out [as each of the other directors were paying themselves £2k pm for just being a director! & the chairman was taking £2.5k pm in addition to DG taking £10k pm]. Set out below are the emoluments of the Directors for the year ended 31 December 2022 (GBP): Director Salary and fees Taxable benefits Annual bonus and long term benefits Pension related benefits Share based payments Total £ £ £ £ £ £ Alan Broome, AM 30,000 - - - - 30,000 Dean Gallegos 120,000 - - - - 120,000 Peter Wale 24,000 - - - - 24,000 Simon Holden 24,000 - - - - 24,000 Jacqueline Yee 24,000 - - - - 24,000 Total 222,000 - - - - 222,000 Given the limited cash position of the company all payments to non-executive directors were waived in March 2023 and all payments to the Managing Director were waived in June 2023. This was the last date of approval of the directors’ remuneration policy by the company. Read Full Thread Reply
Posted at 08/4/2024 10:48 by begorrah88 So 6p admission price if DG ever gets around to getting this moving forward.Today's update could just as well be ensuring his income continues for the foreseeable future whilst he announces the next set of delays.'3 investors' divvying up £200k, which based on the RTO numbers, represents 20% of MUST total value! Read Full Thread Reply
Posted at 08/2/2024 17:33 by ukaliptus Impossible to predict what's happening Both companies have their own strategies Unknown to the investors - with sparce information I'm content with my 7p per share outlay Not sure why - but sense that any real return is a long way away 🫤😟 Read Full Thread Reply
Posted at 04/1/2024 17:31 by megaman2 Yes she had access to Asian investors just another nail in the coffin now . Read Full Thread Reply
Posted at 04/8/2023 08:39 by megaman2 Bmn investor meet new CEO just notes Garnett control and inevitable bmnn dilution ..suggesting the Garnett dilution terms kick in meaning no must Refused to comment on must cln or must .. Not focused on be carve out Very much sounded like must is dead Read Full Thread Reply
Posted at 23/6/2023 04:23 by megaman2 Fortune said in the post rns interview prospectus shortly.. As you say bmn likely need to dispose of must asap.. Terms require approval of prospectus by Month and commitment if $15 milk funding Garnett can take control and don't have to reverse into must .. A 49 % reversal into must won't be as appealing to investors with split unconnected equity . 6 working days for approval or it's a massive balls up. If they do manage to list share price will get smashed as bmn need to raise money and selling it's cellcube shares are the obvious first option . Read Full Thread Reply
Posted at 02/5/2023 11:55 by vanadiumx "a clear path forward to continue to progress our readmission application with the FCA, which is well advanced, and our discussions with potential investors. I would like to thank our noteholders and shareholders for their understanding and patience to get to this point." - shareholders have no choice but to be patient! Some indication of a relisting date would be appreciated. Read Full Thread Reply
Posted at 12/4/2023 07:58 by begorrah88 MUST is proposing to raise a minimum of US$15,000,000 through the issue of new ordinary shares (the "Fundraise") to new, and potentially existing, investors. Wonder how many 'existing investors' will be keen to trust MUST with any more of their money after having had their original investments kidnapped for [so far] a minimum of 2years+ ? Read Full Thread Reply
Posted at 06/4/2023 12:30 by dontay Flow battery sector responds: We can meet specs for 513MW South Africa tender.April 6, 2023The downstream arm of vanadium producer Bushveld Minerals and other industry sources have responded to yesterday's Energy-Storage.news article about flow battery technology's suitability for a tender in South Africa.In comments provided to Energy-Storage.news published yesterday, consultancies Clean Horizon and Harmattan Renewables said that the technical requirements of a recent 513MW/2GWh battery storage tender in South Africa would prevent flow batteries from participating. Specifically, they cited the round-trip efficiency (RTE) at the point of interconnection of 70%.A spokesperson for Bushveld Energy, the downstream energy storage arm of Bushveld Minerals, provided a written response to Energy-Storage.news:"This is incorrect. There are numerous flow battery technologies and companies over 20 firms that produce vanadium-based flow batteries alone. Flow batteries range anywhere from 50-80% RTE at the grid connection," they said."CellCube, a (vanadium refox flow battery company or VFRB) company in which we are a shareholder would be able to deliver flow batteries with an RTE over 70% for this tender. While some flow battery technologies and companies may not be able to meet this threshold, others can."A energy sector investor responded in a similar vein, and Bushveld Energy also pointed out that the consultancies' comment that there was "not manufacturing capability in South Africa" for energy storage was untrue:"For example, Bushveld Energy and the Industrial Development Corporation just finished construction of an 8 million litre vanadium electrolyte plant in East London, South Africa. Vanadium electrolyte alone contributes ~40% to a flow battery's costs, and we expect a vanadium battery installed in South Africa to easily achieve ~60% in local content with existing domestic supply chains."In revised comments provided to Energy-Storage.news in response to various requests from industry participants ad observers, Clean Horizon and Harmattan Renewables said the RTE requirement "...will make it difficult for flow batteries to participate, and lithium-ion battery energy storage is likely to dominate. The fact that the RTE is measured at the grid connection will further affect project development decisions."They also acknowledged that the VRFB sector does have local manufacturing capabilities but that the domestic content requirements for the tender will likely need to be met by the balance of system (BOS).Bushveld Energy said that the 513MW tender from the Department of Mineral Resources and Energy (DMRE) actually had some favourable conditions for flow battery technology. Specifically, the high number of cycling the battery systems would be required to do and the length of the contract."Requirement for two full, four-hour long charge and discharge cycles per day. This high cycling is perfect for the non-degradation of flow batteries and will increase augmentation costs significantly (not to mention future price risk) for anyone bidding lithium.""15-year supply agreement, which, while less than the 20-25 year lifetimes of flow batteries, exceeds the typical 10 year warrantees offered on lithium ion batteries."Bushveld Energy said that the company's new plant in South Africa would be producing enough electrolyte to support a bid. Energy-Storage.news has asked the firm to confirm that CellCube would therefore consider bidding into the tender but the spokesperson declined to comment.The projects range in size from 77MW/308MWh to 153MW/612MWh in required energy storage capacity, yet CellCube CEO Alexander Schoenfeldt recently told Energy-Storage.news that he estimated, outside of China, the global VRFB supply chain in 2021 had just 30MW of annualised production capacity. Although this is set to grow substantially in the comings years, it means VRFB deployments today rarely go above a few megawatts of power."Given that COD on the batteries in this tender is only expected in early 2026, this plant can make enough electrolyte to fulfil at least one and possibly two successful battery tenders (out of the five), should vanadium redox flow batteries win them. There is also more than enough vanadium oxide production in South Africa, as well, to supply feedstock to our plant for these installations," the spokersperson said.Https://www.energy-storage.news/flow-battery-sector-responds-we-can-meet-specs-for-513mw-south-africa-tender/ Read Full Thread Reply

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