Mustang Energy Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Mustang Energy Plc LSE:MUST London Ordinary Share GB00BJ9MHH56 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 30.60 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Crude Petroleum & Natural Gs 0.00 -0.90 -8.80 - 3.15
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 30.60 GBX

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Date Time Title Posts
07/6/202316:48Mustang Energy MUST - SPAC/Shell Main Market listed990

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Posted at 23/5/2023 15:00 by begorrah88
Anyone that knows anything about BMN knows what an absolute shower they are & how they have decimated shareholder value & are unable to do anything within the timescales they give out.Naive to think MUST have been cunning behind Garnetts back as Garnett are heavily involved in the current play. Don't know who you are listening to Dontay but they are feeding you tosh.
Posted at 23/5/2023 13:31 by dontay
Yep. If it comes off - the rewards have the potential to be massive - so-well worth waiting for! As a result of recent manoeuvres which have had to be kept well out of the public spotlight until they were strung together so they remained well away from provoking any further legal action from Garnet, making them long in the making -- MUST is (to all intents and purposes) now owned by BMN! That's fact.There are strong rumours that loads of work has been going on in the background to bring BMN's long term plans to fruition -- and a potential Cellcube (MUST) listing on the huge NASDAQ market would be a massive move -- IF -- those rumours prove to be accurate!South Africa Weighs Environmental Approval for 10 Gigawatts of Power..........Https://"In China VRFBs already at 8.2% of total consumption in 2022 with Pangang stating that based on their forecasts "the market for VRFBs is going to be huge."I know that already -- but having the world's biggest producer of vanadium say it further supports that belief"Https://
Posted at 09/5/2023 12:25 by dontay
Twitter chatter:Worth revisiting this post by @BigBiteNow in light of the change in control announcement from MUST today.BBN@BigBiteNow.Mustang deal set for conclusion by July. Based on the valuation of Garnets 50% holding 22% ownership is worth over £11m to BMN.BELCO production start up scheduled for H1 and potential off-take agreements. It feels like these deals are set to be announced around start up.
Posted at 12/4/2023 08:58 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+ ?

Posted at 28/2/2023 05:54 by megaman2
This surely must come to a conclusion very soon one way or another .cellcube is broke and needs an urgent capital injection if must can't facilitate that something else will happen . I can't believe a further extension will happen without funds being Injected into cellcube so expecting a conclusion one way or another by end of march . Garnett cellcube are not in position for further delays the relationship must be as bad as ever .
Posted at 29/11/2022 17:54 by megaman2
By the time they raise some money there is going to be 200 mill plus shares in issue ..

20 p share price will be £40 mill with 200 mill shares ...valuing cellcube at £80 mill...

Invinity is only c £25 mill mkt cap....lots of unknowns here still ..but surely cellcube needs significant money's in talks considering building this factory in Australia and funding 50 % plus lights on money and developing its new compact vfrb ..must need another $30 mill minimum .invinity has already burnt through most of $90 mill....

It's hard to see how cellcube mkt cap at this time should be worth more than invinity ..Especially because of court case and the proposition of buying into must which only holds c 50 % of cellcube .....if it's only worth c £25 mill you can throw some figures out there for an share price of 5p-6 a comparison to invinity ....they need to tell some story to look for anything higher as their internal valuations are exactly that ..

Posted at 27/5/2022 08:32 by megaman2
Thnx for news unfortunately kibo energy is not really a big player that one would hang your hat on delivering big results .it's basically a new venture for them at the lower value end of the market. If they deliver great but bushveld energy has been claiming 200 MWh by 2020 and has been promising to deliver Installations In the near future since 2017 and has so far delivered zero. We don't know if that's their incompetence or just lack of market for vfrbs in the west . Neither cellcube or invinty seem to be delivering the volume of contracts forecast and consequentially the invinty share price is at an all time low from flotation mkt cap £75 mill and that's after a recent big fund raise . Talk is as talk until contracts start rolling in. A market cap of £75 mil for cellcube puts must share price at about 22 per share by my reckoning I'm open to being disagreed with there . Be delighted if it re-lists at 200 million market cap like invinity floated at but maybe that's now a fantasy .
Posted at 09/5/2022 11:24 by megaman2
I think.thats already a known seems like some sort of licensing deal to use cellcube technology ? My concern here is with invinty only at £88 mill market cap when musts owners are at logger heads the share price may well be underwater when it eventually re-lists .

My basic calc is that must will own c 12 % of cellcube . On relisting there will be c 40 million shares ? Maybe more if they need to raise some cash ?
What's the market going to value cellcube at idea really ..invinty once had an share price above 200 million market cap. If i Said £70 milllion is that realistic ? But must only own c 12 % so it's only £8.4 mil mkt cap 21 p per share's lower than my average but at least not a dead duck which was looking possible . Zero confidence in my guess work just thinking out loud on what might be.

Posted at 12/1/2022 15:09 by dontay
Broker update:Bushveld Minerals* (Bushveld Minerals Ltd (AIM:BMN, OTC:BSHVF)) – 9.17p, Mkt cap £116m – Bushveld in negotiation with Mustang Energy over restructuring of deal to invest in EneroxBUY - Valuation(Bushveld Energy holds an indirect interest of 25.25 per cent in Enerox. Bushveld is invested in Enerox. Bushveld Minerals holds 74% of Bushveld Energy. Bushveld Energy holds a 50.5% interest in VRFB-H)Bushveld Minerals reports amended terms to an agreement with Mustang Energy PLC (LSE:MUST).Mustang was to invest in VRFB-H to acquire a 11.05% indirect interest in Enerox GmbH Enerox is a VRFB 'Vanadium Redox Flow Battery' manufacturer providing grid scale and micro-grid energy storage solutions.Mustang invested ~$7.5m for a 22.10% stake in VRFB-H through Enerox Holdings Limited with Mustang funding its investment by way of an issue of US$8 million unsecured convertible loan notes bearing a 10%.Unfortunately Garnet Commerce Limited, an effective shareholder in Enerox has issued a claim in the UK High Court of Justice against VRFB and Enerox Holdings Limited alleging breaches of the jv agreement in relation to Enerox Holding Limited. The trial starts on 19 January 2022.This means that Mustang is unable to start its capital raise as its investment will constitute a reverse takeover under FCA Listing Rules requiring the publication of a prospectus.Mustang is not able to readmit its share to trading on the Standard List of the London Stock Exchange.A condition of the convertible notes is that if readmission had not occurred by end December that Mustang can require Bushveld to issue each Noteholder with Bushveld shares at a price equal to the 20-day volume weighted average price of a Bushveld shares. In return Mustang will transferring all of the Mustang Subscription Shares and payment of a backstop fee to Bushveld Energy Limited,The parties are nearing an agreement to extend the Maturity Date to allow some visibility as to the potential outcome of the litigation.Bushveld and the Mustang have also agreed to extend the Notice Date from 5 Business Days to 9 Business Days.Bushveld will update the market accordingly when an agreement is finalised between the parties or if those discussions are terminated without agreement being reached.Conclusion: Essenntially the only new news in this is the extension of the notice date from 5 to 9 business days to allow more time to reach an agreement and to allow some visibility as to the potential outcome of the VRFB-H litigation. Please see the company announcement for further details*SP Angel act as nomad and broker to BushveldHttps://
Posted at 03/6/2021 08:22 by jev1
Primorus is pleased to announce it has invested US$2.5 million in Mustang Energy PLC ("MUST"), a special purpose acquisition company whose shares are listed on the Official List and traded on the Standard Segment of the London Stock Exchange's main market for listed securities (the "Standard List"), having purchased 50 convertible loan notes of a nominal value of US$50,000 each ("CLNs"). The issue of the CLNs forms part of a wider transaction pursuant to which MUST has raised a total of US$8 million ("Fundraise") by the issue of 160 convertible loan notes ("MUST Loan Notes") with a maturity date of 31 December 2021 ("Maturity Date"). The MUST Loan Notes attract interest at a rate of 10 per cent. per annum. MUST was formed to undertake an acquisition of a target company or business or asset(s) with operations in the energy or natural resources sectors.

The Fundraise has enabled MUST to acquire a 22.1 per cent. interest in VRFB Holdings Limited ("VRFBH") for a total consideration of approximately US$7.5 million ("Acquisition"). VRFBH has a 50 per cent. interest in Enerox Holdings Limited ("EHL") which owns the entire issued share capital in Enerox GmbH ("Enerox"). The Acquisition forms part of a total US$30 million fundraising by a consortium of investors in EHL ("EHL Capital Raise").

Enerox is an Austrian-based vanadium redox flow battery ("vrfb") manufacturer, which has invested more than 20 years of research and development into its CellCube energy storage system. The Enerox directors believe its vanadium-based technology to be known to be state-of-the-art in the battery market, and more than 130 systems/23 MWh have already been deployed across five continents. The EHL Capital Raise is intended to fund growth capital required to scale up Enerox's vrfb production capacity to 30MW (120-240MWh) in annual production capacity by 2022 as its pipeline grows.

The Fundraise and the Acquisition constitutes a reverse takeover of MUST, and its shares have been suspended from trading with effect from today pending the publication of a prospectus and certain approvals being obtained from MUST's shareholders, following which MUST will seek the readmission of its enlarged issued share capital to the Standard List ("Readmission"). Readmission is subject to MUST meeting the eligibility requirements of the Financial Conduct Authority.

Subject to Readmission occurring on or prior to the Maturity Date (such date being the "Conversion Date"), Primorus will receive new shares in the capital of MUST calculated by dividing the nominal value (and accrued interest, if applicable) of the CLNs (using the average US$/GBPGBP closing exchange rate as shown on Bloomberg over the five trading days prior to conversion) by 20 pence ("MUST Conversion Shares"). The closing mid-market price of MUST on 26 April was 30.6 pence per share. Accrued interest at the Conversion Date may, at the sole election of MUST, be converted into MUST Conversion Shares or redeemed for cash. Further, Primorus will receive warrants to subscribe for new shares in the capital of MUST (one warrant being issued for each two MUST Conversion Shares held by Primorus), exercisable at a price per share of 30 pence ("Warrants"). The Warrants have an expiry period of three years from the Conversion Date.

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