Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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The BOD have lost my confidence, absolute BS, lied through their teeth. I'm dealing with another AIM outfit who have shafted their PI's, the Char board seem little better. I have a big stake in Char, and now I'll now use it without any attachment to whatever the BOD say in future, should not have trusted any of it.
You can try and square it any way you like, but this BOD have been dishonest toward PI's.
I had a post taken down last week not to trust Adonis as we seen it all before ref Rabat Deep 2018.
I saw it coming unfortunately at pretty much the price I guessed it would.
Not the end the of the world but it certainly does the already poor sentiment no good whatsoever!
What he says👇
Not this time thank you. Fed up with this recurring pattern. Dilute our holding and before too long award shares to bod so that their holdings are not diluted. Thanks but no thanks!
Not what I wanted to see ffs! unless the news is good and mates want in like you say NewKOTB.
It does say among the bulletpoints:
'The Company continues to make good progress on its partnership process for Anchois, with the fundraise providing an improved financial position ahead of finalising negotiations'
Surely, if partnering was so 'competitive', this fundraise woud not be required as any partner should be large enough to invest in onshore licences?!
Chariot told us just 2 weeks ago they had enough money to last until Q4 and hoped that they would do a partnering deal which would involve a cash injection? Something doesn't add up.
So we are close to a deal with multiple parties involved, give us massive cash injection ... really FFS
Oh, unless we are of course and mates want in !!!
WELL THERE IT IS .... just what we expected !!! ffs
🤬
YES. HERE IT IS:
Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce its intention to undertake a fundraising of approximately US$18 million (£14 million) before expenses by way of a placing (the "Placing") and a direct subscription (the "Subscription") of approximately US$15 million (£11.7 million) in aggregate, and an open offer (the "Open Offer") of up to US$3 million (£2.3 million) (the Placing, Subscription and Open Offer together the "Fundraising"). Pursuant to the Fundraising, it is estimated that the Company will issue approximately 83,705,358 new Ordinary Shares pursuant to the Placing and the Subscription and up to 16,615,421 new Ordinary Shares pursuant to the Open Offer, in each case at an issue price of 14 pence per share (the "Issue Price").
Okay cheers Jimmy, given the forward price of gas and our potential proximity to news KB thinks it's a little strange why we are languishing at these levels, however, If, as you suspect, we will indeed receive news before the Agm in September then the timeframe for it to land is relatively short in the grand scheme of things.
And for the expected reply from the usual suspects, "It is another great top up opportunity" 🤔 ........
KB says fill yer 🥾s😉
Kingbilly,
Yes, I expected that the gas sales agreements would be completed by now. I suspect they are in final form but waiting on the farm out to complete .
Chariot is likely dealing with very large oil companies and it’s not unusual for legal agreements to take months of very detailed work, hopefully to be completed very soon.
Jimmy
Ian that is all totally plausible and sounds like it has come from an investor who has not been on the chariot journey for very long😁
Us LTH's are fully aware that the next RNS is just around the corner and it will be the catalyst🙄
All the information we have has been positive. Nothing negative whatsoever. We understood that we would hear something by H1, which we thought was by 30th June. That date was missed, but as there are several interested parties to pick a deal with, if the news is imminent it is unlikely that we will hear of any hints of who it is with and what the terms are while the negotiations are ongoing and close to agreement. It is even possible that an announcement was almost ready when another party improved their offer which will have delayed completion. This is all confidential stuff and we cannot expect to have special information on such. We must wait until the Board know they have a deal.
I'd never be one to cast doubt on your expertise Jimmy but do you not think the constant slippage in suggested timescales is having a negative impact on us?
Did you not think at one point we would see GSA complete by Feb?
It seems like the catalyst "RNS" is always just around the corner.
To say in an annual report that there has been a highly competitive farm out process and that the process is in its final stages indicates to me that we will get a lot of news before the Agm in early September, at the latest.
There is 1.6 tcf of proven and very low risk bcf at anchois and even after a farm out chariot will have a substantial share of it.
Jimmy
I hate to say it Graham but I agree with you, as does the market by the looks of it, fuzzy warm words and long past promises of GSA's nearly signed sealed and delivered are not good enough.
I suppose the question is: Will there be a "partner" announced soon? Or are they just more "comforting" words which may well be true, just not as close as we're being led to believe, or hope.....🤔
Given the sp at the moment, do you really think good news is imminent? If it was it would have leaked already and we wouldn't be at this price. Be realistic, expect news after it's leaked and who says it will be good? We just hope so therefore when the sp moves materialistically, then we'll know; one way or the other!
Chariot has made the decision not to renew operatorship of the 2312 A & B "Central Blocks" that comprise the PEL
71 licence. Chariot retains the option to back-in to the 2714 A & B "Southern Blocks" licence @ 10%
A few weeks ago there was an article saying news would be out shortly.It has not come yest but I am sure we will not have to wait long.Bought some more today
Could someone refresh my memory? Does Chariot still have any license in Namibia? I thought they did not, but still see Chariot / Enigma listed on other company's maps of Namibian blocks.
The issue is they have said news soon since Christmas, but yes we are another day closer to the fabled RNs of our dreams
Agreed. The sellers must be mad. Huge news may land imminently.