Mustang Energy Share Discussion Threads

[jonny_wright] 07/1/2022 09:21

If MUST does relist soon I'll have lost 90% of my investment regardless, whilst it's suspended I can continue to live in denial

[megaman2] 06/1/2022 10:57

If the backstop has been enacted wheres the rns from.prim.bmn about the issue of shares and how many ......imo either way they are violating aim reporting requirements...but it seems companies can just do as they feel fit....

[begorrah88] 06/1/2022 10:49

The MUST RNS said they 'WILL be...... pursuant to the agreement....' Not they might be, subject to further negotiations so, unless there is a statement to the market,which there hasn't been, the backstop must have been enacted or the companies are now acting contrary to the information provided to the market.If they are still in negotiations why would they not have informed the market?

[megaman2] 06/1/2022 10:45

The companies involved are making a mockery of the rns system. Whatever has happened they have not informed the market.

[golden prospect] 06/1/2022 10:24

mm2, "Primorus has, at this stage, elected to receive BMN Shares if the Backstop provision is enacted."

We don't know if the backstop has been enacted.

[megaman2] 06/1/2022 10:22

Prim rns Said they have elected for bmn shares so the deals over. If that's not the case and there has been a change they have not informed the market why not???? It's being run like a fish and chip shop!!!!

[begorrah88] 06/1/2022 09:57

Are we to assume they are now going to wait for the court case? A date for which is yet to be confirmed other than intended for late January.I'd have to assume MUST have completely shot their bolt on this deal & can do nothing else but hang on in for some long shot hope of it being resurrected following the court case (then subject to a decision, appeal, further challenges etc)So much for actively seeking other deals & a new route back to relisting!

[begorrah88] 04/1/2022 07:28

Even if MUST do manage to crawl out of this somehow I doubt many will want to have anything to do with a company or board that treats its shareholders with such disdain.

I agree they have a regulatory obligation to update the market.

[megaman2] 04/1/2022 07:24

No rns yet? Whilst I appreciate must is delisted there are other companies involved which are trading. If the backstop has been enacted or delayed surely must need to update the market and shareholders before it opens as it's price sensitive information???

[megaman2] 24/12/2021 09:25

The board need to act in the interest of shareholders and if they don't relist they need to explain exactly why as this might cause a wipe out of equity if there is no alternative...what is the exact legislation that says that the company cant relist and proceed with transaction disregarding the litigation?we need to be Informed. They need to demonstrate they have acted in the best interest of shareholders and not some meta game to suit the bigger picture of the likes of acacia resources leaving must stranded.

[begorrah88] 23/12/2021 11:59

Thanks for posting ( you might want to edit your name out of that post)Looks like Dean has forgotten he was going to update shareholders last week & is just buying time until MUST are obliged to update the market at start of January.Unless Fortune at BMN is still stringing them along that he can pull it all together regarding the litigation.Looking at BMN's performance over the last 6-8 months I'm not sure anyone would want to hitch themselves to his wagons.

[dingdong62] 23/12/2021 11:17

From: Dean Gallegos
Date: Thursday, 23 December 2021 at 00:39
To: Ding dong
Subject: RE: share holder

Hi A DD, its not a lack of courtesy. We are in continuous negotiations with the counter parties and we don’t want to influence those negotiations by making public statements at this point. Given the shares are not trading there is no harm in waiting a bit longer to give an update. Primorus was compelled to put some out by their NOMAD.

regards

Dean L Gallegos
+ 61 416 220 007


Managing Director


From: Ding dong
Sent: 22 December 2021 23:16
To: Dean Gallegos
Cc:
Subject: Re: share holder
Importance: High

Hi Dean,
Why are the directors so quite at Mustang energy?

Surely you could report some updates and show us shareholders some curtesy.

[chutes01] 21/12/2021 16:23

megamouth,
why don't you fk off son
what makes you think anything will ever be realised from this disaster ? trying to flog bmn shares in this market will finish them off
be careful megamouth

[chutes01] 21/12/2021 14:30

prim shareholders look like losing millions here too

[begorrah88] 21/12/2021 13:33

..... & e-mailing a shareholder that you intend to issue an update that week stating the position & then not doing so also stinks.

[megaman2] 21/12/2021 09:43

Good for prim they had a backstop with interest. It's seemingly just must losing out here . Must really need to explain why they couldn't relist and offer a prospectus and move ahead with the transaction despite the legal action. Ie. what where the specifics from preventing the relisting ?? I know of know legislation that says you cant relist because an underlying asset is in litigation ???? The company need to explain in black and white why they haven't relisted and moved forward with the transaction. Just telling shareholders because of the litigation is not enough info .

[jonny_wright] 21/12/2021 09:02

If I could rewind the clock a year I'd have stayed away from this shell.... I just want my money back

[chutes01] 21/12/2021 07:46

What a shambles
What an absolute shower
All credibility gone
Shareholder value rinsed in one shoddy instance
Gross incompetence

[megaman2] 21/12/2021 07:37

Notwithstanding the above, Primorus, MUST and BMN are continuing an open dialogue with each other to try and find an alternative solution for all parties prior to Backstop Date.

Small ray of hope here maybe must RTo of bmn ...

[begorrah88] 21/12/2021 07:22

I'd at least expect a 'MUST have noted the RNS released by Primorus this morning but are, however, more than happy to leave their shareholders completely in the dark, where they have been for the last 6 months, as to whether their investments are completely down the pan or if there is any slight ray of hope.'

[begorrah88] 21/12/2021 07:03

Primorus Investments PLC

21 December 2021

Primorus Investments plc
("Primorus" or the "Company")
Backstop arrangements for the Investment in Mustang Energy PLC

Further to the RNS announcements dated 27 April 2021 and 14 July 2021, Primorus Investments plc (AIM: PRIM) provides a brief update in relation to its investment in Mustang Energy PLC ("MUST").

The litigation, notified within the 14 July RNS, is ongoing between the relevant parties and may not be concluded prior to the 31 December 2021 (the "Maturity Date").

Primorus would like to reiterate its statement from the RNS issued on the 27 April 2021, as follows:

"If Readmission does not take place by the Maturity Date, AIM-quoted vanadium producer Bushveld Minerals Limited (whose subsidiary Bushveld Energy Limited ("BEL") is the majority shareholder in VRFBH) has agreed, as part of the Fundraising, to issue new ordinary shares in its capital ("BMN Shares") to the holders of the MUST Loan Notes in return for MUST transferring to BEL all of its shares in VRFBH and paying a fee to BMN of an amount equal to 5 per cent. of the MUST Fundraise (the "Backstop"). Primorus has the sole discretion to elect to receive shares directly in the capital of VRFBH in lieu of BMN Shares. Further details relating to the Backstop can be seen in the announcement released by MUST."

Primorus has, at this stage, elected to receive BMN Shares if the Backstop provision is enacted.

Upon receipt of the BMN shares, the board of Primorus will have sole discretion over its ability to manage the BMN shareholding.

Notwithstanding the above, Primorus, MUST and BMN are continuing an open dialogue with each other to try and find an alternative solution for all parties prior to Backstop Date.

A further announcement will be issued when the final details of this transaction are agreed.