Jun. 2 at 11:05 PM
$BGL
Some DD that I’d be happy to have someone poke holes in and constructively discuss:
September 17th 2025 we signed a definitive agreement to acquire Mampon from FGR
FGR is owned by Blue International Holdings
Blue International is owned by Kevin John Clark (and previously our CEO, Andrew Cavaghan - who ceased control May 14th 2025 shortly before our merger; likely to avoid legal conflict of interest)
Kevin John Clark owns ~5% of BGL (1.74M shares)
Essentially, Mampon is owned and influenced by the same people that own BGL
It’s more of a transfer of an asset than purchasing from some unknown 3rd party
What makes this interesting is the way the definitive agreement is outlined
It’s done in two tranches of 50% each. The second tranche is exercisable between September 2026 and September 2027 - so, if the first tranche of the purchase closes, it’d be reasonable to assume it’d be done by September of this year.
The first tranche (50% of Mampon) is under the following stipulations:
If the VWAP for BGL is over
$20, the transaction takes place for 750,000 BGL shares (or
$15M+ in equity)
If BGL’s VWAP is between
$10-
$20, the transaction takes place for BGL shares amounting to
$15M
*BUT*, what catches my eye is the final term:
If BGL’s VWAP is below
$10, the transaction is capped at 1.5M shares of BGL
Why not ensure FGR is getting
$15M in equity no matter what?
With the aforementioned terms, BGL would essentially receive a
$15M mining asset for
$750,000 in equity
Insiders would likely preserve equity (and maybe actually profit) by the BGL share price re-ration
Is this some potential financial engineering?
Heads we win, tails we can still win?
Is this a wild card in the back pocket of management, which helps explain why our CEO confident forwent his salary when the company is in a seemingly catastrophic situation financially?
Everything I’m saying is very speculative and I’m not even alluding to it being an actual plan on behalf of management
Just a potential “out” in the form of a seed management planted lasted September
