London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Naz. My favourite ROSE where you posted last week.
I must admit that funding is a major concern to many but the 3D's seismics are outstanding in quality and quantity of drill locations.
The initial review has highlighted 57 drill locations in the Paradox Basin Utah. Estimated 450m barrels. 7 year license. Institutional investors on board and a MCAP of around £4m.
The RNS says they are trying for a jv or farming deal for an initial 5 drill campaign.
I have been studying this for months and believe now is a great time to invest. These will be big drills and even with a dilution I believe the MCAP will be much higher on the first spud in H2.
let the impatient leave the next 2-3 months will be rewarding, we are at bottom of support line I think, it can’t drop anymore. now mms have accumulated shares they can start to drive the price up then we await some updates GLA
It is simple. This has massive potential but.....
AIM is news driven. Drill results many months away. PI's selling and will return later on in the year.
I sold half today my holding here and invested it elsewhere where there was an unnoticed stonking RNS.
Key Aspects of the Business and Financing Relationship:
"Canada Rare Earth and Talaxis have signed a Memorandum of Understanding (�MOU�) that sets out the proposed principles of a working relationship leading to cooperation in the development of supply chains in the rare earth industry. The terms and conditions are to be negotiated and included in subsequent definitive agreements which will detail arrangements regarding sourcing, processing and delivering rare earths, refinery facilities, financing capital expenditures and trade finance support. The MOU also includes provisions for the parties to negotiate terms upon which Talaxis may participate in the capital structure of CREC using hybrid capital solutions that include debt, equity stake and warrants."
We already know Talaxis will qualify for additional 26% stake in MKA on arranging Project Finance for Songwe Hill. Wonder if CREC are the ones being lined up by Talaxis for funding Songwe Hill ?
Have not read the Noble debt deal details. So not sure what Noble plans for Talaxis are just yet ?
However if Talaxis is doing well for Noble then they might want to keep the successsful businesses intact and only sell off the loss making businesses to pay down / reduce their Debt burden. That would be my own view.
Talaxis just end of last week did a deal with Canadian Rare Earth Corp. who are looking to build an integrated REE business. Wonder if Talaxis are brokering / structuring Songwe Hill asset for them ?
Will find the news wire link and post it here shortly.
Lets hope we are not all talking about breaking through 10p at Christmas. On the news received in the last couple of months and the amount of cash received it is criminal that we are falling day on day. When we all start talking about top ups that's a negative sign. I should know I am in URU!!!
Ehhh I'm afraid Cretes that person is completely wrong in their quote....
WTG, according to the pre-close trading update released last week, had �62.8m at the end of December 2017
Their share is currently trading ~�1 which with ~46.04m shares in issue gives an mc of �46.04m, so less that 75% of cash held.... oh and that also excludes the �50m held in escrow
You could update your other poster that they need to get the facts right......
So the question now is, does Noble in its restructured form, consider REEs to be a core part of its "Asian hard metals" exposure? Or will Noble be seeking to dispose of its newly acquired investment and forward commitments, to another (Chinese) party?
Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email firstname.lastname@example.org to buy additional rights. Subscribers may s
34 MINUTES AGO
Shareholders in Noble Group will be almost wiped out under the terms of a debt restructuring announced on Monday by the crisis-hit commodity trader.
The Singapore-listed company said existing shareholders, including its founder Richard Elman, and CIC, China�s sovereign wealth fund, would end up with a 10 per cent stake if the deal is approved.
Under the debt-for-equity swap, which is backed by creditors who control 30 per cent of Noble�s debt, its borrowings will fall from $3.4bn to $1.7bn.
That will leave its lenders with a 70 per cent stake in Noble, shareholders will get 10 per cent while 20 per cent has been set aside in order to �incentivise� its senior executives.
Noble�s business, now focused on coal trading in Asia and LNG following a string of asset sales, will carry around $955m of debt. The company will also issue $700m of bonds that will be repaid from asset sales, including its aluminium business in Jamaica and stake in Harbour Energy.
On top of that, Noble also plans to issue $200m of preference shares. Supporting the $1.7bn of debt will be a business that will have annual pro-forma earnings before interest tax, depreciation and amortisation of $175-$200m, Noble said.
�Since May 2017, when the group announced first-quarter results and the commencement of the strategic review, I have consistently stated my objective of avoiding any form of insolvency proceeding and by dealing with our stakeholders in a fair and transparent manner,� said chairman Paul Brough.
�The actions resulting from the strategic review have refocused the group on its Asian hard commodities, freight and LNG businesses and, with the in principle agreement, will reduce indebtedness to sustainable levels, commensurate with the group�s size and range of activities. The group will be stable, independent, competitive, and positioned for sustained growth,� said Mr Brough.
Noble was plunged into crisis in February 2015, when Iceberg Research, a previously unknown firm, produced the first in a series of reports highly critical of the company and its inability to convert profits into cash. Noble, once Asia�s largest commodity trader, has always defended its accounting.
The company has been forced to sell assets in a desperate attempt to reduce debts and prop up its share price, which has fallen more than 90 per cent of past three years.