George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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I hope so, Paul! I have come around to the idea that they'll only be after permanent staff because they've turned up the dial a notch in one way or another. I would guess that they'll be interviewed and picked out within a couple of weeks, so we'll find out who gets it via Linkedin/the company website.
I think that's excellent analysis, BTW on KIST vs LBE, Haggis. I've always felt that AA is an excellent deal maker, rather than an actual oil and gas expert, which seems to have just been the sector he ended up in.
As quiet as it is I think we are entering the news window now. I was a bit nosey and contacted the recruiter regarding the advertised Longboat jobs this morning (just to make sure they were still on track). He confirmed that they closed yesterday and it sounded like they have sufficient interest. He would only consider a late CV submission if it was somebody with links to Longboat staff.
The 18 months are up in 5 weeks and although that would probably be very easy to extend, I think they will want to sign & announce a deal beforehand. The jobs are the key for me though although I may be reading it wrong.
My guess would be news within the next 2-3 weeks.
While they attract similar investors I wouldn't compare Kistos and LBE...
They are both very different companies.
As I see it the board of LBE are much more credible in terms of day to day running an oil company than AA. AA is basically a city dell-boy! However he seems to have a talent for getting deals done and innovative financing....
> KIST were hammered by their relatively high market cap
The £40 million market cap was the cash in pot available to fund first deal (along with additional debt and equity just raised). LBE have only raised £7 million which doesn't buy much in the North Sea. However you are right to observe what actually matters for share price is the structure of the deal itself.
Once the Kistos share re-float on May 17th I expect them to trade at ~£2 which would be +50% up in 6-months (good share price performance by anyone's standards).
I jumped out of LBE (.... at a loss) into Kistos for a few reasons. Primarily it seemed an energy transition company would be easier to finance than oil. Plus I had a feeling that AA is a fast mover.
However : I still think LBE will eventually get a deal over the line. I may put some profits back into LBE after the Kistos re-float on May 17th to spread my bets. Still keeping a watchful eye here and didn't have enough cash to invest in both (... I see both as "risky" but potentially high reward parts of a portfolio).
I think that to a large degree KIST were hammered by their relatively high market cap pre deal compared certainly with RRE.
This is at least I think we're LBE have an obvious advantage on any deal (assuming it's structured sensibly).
Well I'd hope for more than a few pence here if we manage a deal. Tempers everyone's expectations somewhat doesn't it!
Very interesting watching KIST this morning (this isn't meant as a knock to KIST, FYI). That suspended at ~165 and you can buy in the 170/180; area now. It has also gone rather quiet on Twitter for a stock that was so in vogue when it listed, although the same could be said about LBE there.
I think it illustrates how deal structure is probably more important in many ways than quibbling over BOPD and reserves.
I wonder if KIST hadn't given the firm they were buying equity in KIST, at what price they would have raised that new equity at. I would suggest probably a significantly higher one, considering that it seems from reading around like most were scaled back to 1/3rd of what they wanted in the raise and that a lot of people weren't allocated stock at all. Perhaps 200-250p would have been the correct level there.
I think LBE are in the advantageous place of having a much lower market cap and so being more heavily geared to any upside event than KIST was. I actually don't want to see LBE do an open offer on any deal, because otherwise you're removing a lot of the appetite in the open market for stock, which seems counterproductive to me.
We'll see. It remains a waiting game here, but I'd like to see a straightforward deal with equity raised at a premium and debt done to sensible levels. No shares given to the companies we're buying stakes in and no open offers. Keeping the structure of any RTO very concentrated I think is the key for LBE coming out with their guns blazing post any deal.