The main activity of Biofuels is the large scale production and exploitation of biodiesel and glycerine following the construction and commissioning of the initial plant.

Biodiesel is produced from vegetable oils and, as an environmentally friendly product, can make a significant contribution towards reducing green house gases and meeting Kyoto targets.



RNS's from BFC can be viewed at:

http://www.uk-wire.com/cgi-bin/index?search_type=3&words=bfc&go.x=17&go.y=8

http://www.biofuelscorp.com/

Even a sell order on the Bid first thing this morning would have reaped a nice return, bit pissed off I couldn't trade.
Makes you wonder how this is going to unravel with all the stock apparently out on loan?

I'm long at this juncture and have an order to close a little further up the book. ;-)

going long is always going to be easy ...... try it with SEO and you'll get your arm ripped off ... lol!

Closed for a penny whilst shopping so around 10% intraday will work for me. ;-))

AL .... have checked with GNI ..... they use excatly the same systems as IG and if one wants to short, they too have to find a lender of stock .... in this particular case, i don't think there have been any lenmders for the last 4/6 weeks

Nice one Al :)
Cynic, wots a lenmder? Is it the same as a lemming?

a lenmder is a cheeky one who follows the example of Opik Lembit, more correctly spelt from transcribed cyrillic as Lenmdit

Cheers pth. Don't expect to be doing the same every day. ;-))

cynic - you learn something new every day. I really was not aware I could not short even with DMA. Mind you, it doesn't seem sensible if there's none to borrow. At some point it all has to be bought back. Hmm.

Al, well, I guess if the company is terminally stuffed that's probably where we will see the DCB, when all that stock is bought back, praps summat to keep any eye out for ;)

Always looking for an edge, pth. ;-0

Biofuels Corporation PLC
01 June 2007

Biofuels Corporation plc
(the 'Company')

Financing update

In its announcement of 29 May 2007, the Company confirmed that its bankers would make available additional facilities to meet the Company's requirements from 1 June 2007.

The Company confirms that its on-demand banking facilities with Barclays, who
remain supportive of the Company, have been rolled over to 31 December 2007.
Barclays have also agreed to provide additional facilities of:

7.0 million for working capital and fixed capital purposes which the
Board expects to be sufficient for its interim requirements

The deferral of payment until 31 December 2007 of future interest
payments due up to that date

1 June 2007

ENQUIRIES:

College Hill Tel: 020 7457 2020
Mark Garraway
Gareth David

big bear squeeeze but BFC is still a no hoper ...... suppose Barclays reckoned they were in so much shit already that extending with the hope of finding a buyer was the cheaper option

I'm sure we've been told berofre that the financing was sufficient and it has turned out not to be, or is my memory poor? Anyone?

u know my opinion of this company, reiterated above!

and clearly the market has reflected on the new funding and also decided that BFC is still a dead duck

We still have the Brown=Green factor in the UK in the wings - that "might" be the reason for this Co to be holding-on. However, it was Brown that cut the tax-incentive to recycling chip-oil since he thought everyone would do it at home (thereby running their old Mercs/Landrovers almost for free!)....who wouldn't with the tax grab on motoring?
The effect of this has been to make this activity non-profit-making and bomb the sp.
In this country we can never get it right as far as incentives go- with private investment we ruin it too soon and with "government-handed" we wait too long before realising it's wasted money.
I suspect this co is for the scrapheap ..... and sad that investors have been suckered into a Government-Brown mixture of Spin.

GB may be our next PM, but without a fantastic stoke of Luck (er, skill), he will reap the rewards he really deserves for robbing Peter to pay Paul. It cannot last long

not a lot wrong with the concept, but clearly the application and/or the management skills and/or the business plan was faulty and thus i see no way out of this chasm for BFC

cynic i see the BFC situation as the same as Africa's and many LEDC's - theyre producing some food for some money but owe so much to people, Biodiesel and barclays, but its not enough to make sustained payments because the debt is so large.
So the lenders think hmm, these lads arent going out of businesses anytime soon unless we make them, so lets just extend the time they can return money and keeping getting more and more (In the long term) interest payments.

BFC and these countries are like cash cows to lenders.

From the Shares magazine - 7/6/2007

The writing has been on the wall for some time now but BFC has admitted that it could be forced to suspend shares as it attempts to refinance its whopping 100 million debt. The company is currently in talks with Barclays but says that shareholders are likely to see their holdings significantly diluted as a part of the restructuring. Any existing investors may be wise to get out while they can.

ttt