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RNS EXCLUSIVE: Cabot praise 3D seismic mapping after successful winter programme

Member Info for flundra

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Member Since: Wed, 1st Apr 2015

Number of Share Chat Posts (all time): 603
Number of Share Chat Posts (last 30 days): 20

Last Posted: Mon 08:23

Post Distribution over the last 30 days

Mon 08:23

Agree OthodeLagery. The convertible loan is a known known, $65m @ 50p.
Sun 22:37

I agree it wouldn't make much sense for the Omanis to convert and then sell in the 50s to reduce their holding to an amount where they could stay under 30% when exercising options to buy at (weighted) 85p. Nor would it make sense to sell at a loss below 50p. Not sure IC meant to talk about a 50p cap either before or after conversion. Just buy BKY now imo.
Sun 14:19

Yes I think IC�s �cap� of 50p until the loan converts, is them saying firstly the market should have the confidence to go over 50p once Oman is happy to take the risk of converting the loan to equity. Secondly that Oman may sell some shares on conversion (presumably in the worst case scenario up to their 28% of the company but at not less than 50pps) which would temporarily suppress the SP at that level.

But as a strategic investor with the option to lend more at a conversion price of 85p (and have a board member and match other offtake terms etc), I don�t imagine they�ll rush for the exit on conversion, and conversion will almost by definition follow BKY�s further success not failure.

I think there�s plenty of scope for SP rises on good news, before and after conversion.
Sat 19:18

Interesting thanks for posting that. Had a quick look, some speculation about a pump and dump, and some forward selling by participants in a forthcoming cash raise, perhaps to progress Tiris. All possibilities I guess
Fri 15:32

If we discover the next zona 7 for example I'd expect a substantial rise regardless of the convertible bond price. Wouldn't you?
Fri 14:38

Hi apple

Hopefully no cash raise before the Haggan IPO payday, the conceptual timetable for which is by end 2018. And even if there is an equity raise to keep the lights on, it shouldn't be too severe.

"As at 31 December 2017, the Group had working capital of $413,673 (June 2017: $2,026,388).

The Company has also raised $190,917 since balance date with holders of options over ordinary shares exercising their rights.

The directors have prepared a cash flow forecast, which indicates that the Company will have sufficient cash flows to meet all commitments and working capital requirements for the 12 month period from the date of signing this financial report."

Plenty to look forward to, but not much in the half yearly report imo
Fri 11:56

Note the "s" on deals!
Fri 10:38

And add this to Ghostwriter's post, AC on 1 Nov 2017:

"Our immediate focus is now on closing the [DCS] transaction [on 13 Nov 2017] which will be followed by operational integration in order to realise, maximise and augment the potential of these assets. We will then look forward to relisting HALO as a stronger, larger and sustainable company with a bright future."

Will operational integration have been completed now, it's been over 4 months?

I'm still perfectly relaxed about re-listing. AC won't be mucking about, and will know when and where it is best to re-list. Will it be imminent as some posters are suggesting, or is there another deal to be done first?
Fri 10:18

Plenty of scope for short term SP increases regardless of first tranche of the Omani loan being convertible @ 50p imo. Exploration, project, offtake or U market news for example. 50p-ish more of a floor than a temporary cap imo.
Thu 15:47

I agree with the Nigwit/Baht school of thought. There's been 110 favourable reports/permits, all of which will have been fought against by the anti-nuclear lobby. There are more reports/permits to come, which will be similarly fought against. BKY will consult with their lawyers/nomad and other advisors as to what info has to be or is desirable to be released re these delays, and legal and other challenges. They are obliged to disclose anything potentially materially affecting value.
The BoD are also best placed to make decisions about the construction timetable and the optimum time for delivering the mine. They'll probably soft pedal on occasions, and rev it up on others. They won't get it exactly right, but I think they're doing a good job and communicating well. And whilst I'd also like to hear more, I don't feel hoodwinked about ongoing challenges from the anti-nuclear lobby. I certainly don't want BKY to expedite building the mine just because they've raised the money, if it then just has to be mothballed for ages at great expense.

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