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Ast not used any Riverfort Service in the last Few years
So that's a good indication,
Plus
#Ast will be with the big boys in the #Usa #helium processing, Purification, Liquification and transportation
Big cake with big slice for #Ast
Let this sink in
Waiting to listen to the interview
this could be the next HE1 in coming months
investors not cotton on to this potential
The asset must be worth billions for GNG to $16.5m to aquire it......
the former company probably ran out of cash to continue, who knows but many times bargain hunters picks up huge assets for small fees.
this is no way small.
massive potential for helium processing, Purification and liquification, then to transport it.
money to be made in every chain of the line here
AST has done well to get in before any other companies did
GNG to Partners LLC bought Paradox Estate for total $16m.5
why would GNG be willing to pay $16.5m had they not seen the value of this transaction?
all the time companies buy bankrupt companies that's not a bad move, that's a clever move
Over 200 million shares before the admission of those for the fundraise, a market cap of £4.8m and buying into bankrupted USA stock…. Something does not add up despite the optimistic tone on helium. If it is so good why does a bigger US company not realise the potential?
Way too smelly for me!!!!
The Chapter 11 documentation sets out that the Lisbon Plant is the sole operating natural gas processing plant in the Paradox Basin and is fed by over 500 miles (of which 279 miles are wholly-owned by GNG) of helium rich gas gathering pipelines which have access to helium rich gas sources with 7-8% He concentration in the four corners region, most notably in SE Utah and NW New Mexico. The Lisbon Plant is a 60 MMcfd (million cubic feet per day) gas treatment plant which has a 1.1 MMcfd processing capacity for helium, a 45 MMcfd cryogenic plant and 10 MBpd (thousand barrels per day) fractionation train. The plant was built specifically to process the Paradox Basin natural gas that often has high CO2, H2S, N2 and He content. GNG believe that the Lisbon Plant can produce approximately 3.4% of the US liquid helium production (or 1.7% of the World's liquid helium). The Lisbon Plant is currently operational and processing gas and purifying helium which is sold as gaseous helium directly to industrial consumers via truck. The Lisbon Plant has a liquification unit which has been in care and maintenance since around 2013 (when the liquified helium price was only ~US$62.25 /Mcf versus the US$750-1,250 /Mcf range available today).
David Burton,
yes AST needs to do an interview because this Rns is overwhelming for many, the fact that AST entered USA helium and gas sector is tremendous for AST shareholders in coming months.
Onshore US Gas Investment, New Funding, Board Changes, Director Dealings and Total Voting Rights
Ascent Resources Plc (LON: AST) is pleased to announce it has made an investment into a private US holding company, GNG Partners LLC, that has been formed to acquire onshore US midstream gas distribution and processing facilities which includes helium purification and liquefaction. This is the first shaping move for the Company following a period of deal origination / screening and the recent ECT claim distribution which cements the Company's new forward US onshore gas and helium strategy. The Company is also pleased to announce that, to fund the investment, it has raised gross proceeds of approximately $1.7 million via an equity fundraise and loan note issue, further details are set out below.
James Parsons, the Company's Chair, commented:
"We are delighted to share our forward strategy for the business, centred around the highly profitable US onshore gas markets and the short supplied, high value and exponentially growing global Helium market. Helium is a key requirement for many aspects of modern life including medical devices, super computers and data centres. We also expect a significant increase in demand for natural gas in the US and elsewhere to generate electricity to feed data centres and to power the artificial intelligence revolution.
Our initial investment in GNG and strategic relationship with American Helium provides Ascent with access to a sizeable midstream business in a safe jurisdiction with significant upside, alongside potential future equity upstream production and operations. The world class GNG and American Helium teams are highly synergistic with Ascent's executive and we look forward to success together.
Some serious money been invested here buy Gng Partners to acquire helium assets.
Yes. #AST worth a read up…
It will be clarified later in an interview but these guys have had a (inherited) relationship with Riverfort for 4 years and never used them.
The VWAP part needs expanding on, which I understand will also be covered…
🤬
Another day another scatter gun approach to strategy! I would love to know what Graham Wood actually brought to the business in his time as NED . Hot air and helium are almost the same thing in my eyes ……… along with all the other past focuses this will probably come to nothing …as happens in most cases that Parson’s is involved in .. other than lining his own pockets .IMHO
Decent!
What has happened to arbitration?Not followed here for a while
Parson's = everything that is wrong with the AIM ...right there ...right now!!! IMHO
Confirmation that this whole set up is a con.
Investors have put money into this business based on the Board of Directors stating to them that a key strategy is metals exploration in South America... No further explanation, updates let alone results.
Sounds typical of any organisation that James Parsons is associated with.
I wonder if the FCA will ever investigate his activities???
AIMHO
Are salaries and fees still being paid .. if so what for? The ghost ship is still afloat……. just! Unbelievable Jeff!
No, only the ones who held the stock the 16th of February got them. It's impossible to get preferentials any more.
Common shares will get some exposure to the award too, but comparatively is way too small for the risk imo: 50% of the award, +-35% of that for lawyers, another 25% for taxes, minus millionaire performance bonus for management, minus the expected dilution which is going to be probably the main problem here as process will take years... and whatever is left wont be valued at money value as it wont be distributed, I'd expect at least another 20% discount on top.
I think there are better risk reward options with earlier finish lines than the commons: Personally, I sold my AST.L commons and will play the award with the preferentials as I cannot sell them anyway, and moved the cash to Montero Mining MON.V which is trading at $0.21 and should get to $1.5 after an award this year with way less risk in the trial, as their case is a copypaste of the ones already won by IDA.ASX & WINS.V, even lawyers are the same
Do all long term holders get these preferential shares?
Thank you bobby6 for your reply to my question, fully understood.
They're probably the only ones worth holding imo. Holders of preferent shares receive 50% of the award through a dividend. The other 50% is reinvested into the company. Preferent shares are non tradeable. When there are placements and number of common shares increases, number of preferent shares stay the same and do not get diluted.
My share account seems to have received an amount of preferential shares in addition to my ordinary shares. Could someone please explain what these are and if they are worth holding. Are they like a dividend from the company. Thanks in advance.
Couldn't agree more!! The legal case is beyond the intervention of the BOD. So exactly what are they doing with the rest of the business in the meantime??
Probably just giving the same amount of attention to their other part time roles.
Any payout is going to come with enormous expense - mainly through the top heavy BOD & their ridiculous remuneration!!
Groundhog year (not day) whilst the only thing moving is the cash that pays the directors and executives..what an absolute nonsense .. these people and company are...... IMHO
Or drunk