Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Absolutely disgraceful that we still have not seen the SFB plan. However, we do have https://twitter.com/angusenergyplc
BV, Yes, nice to see the back of Spreadex. Now let’s see the SFB plan from Angus, but I’ll take a 5p bid though :)
Nice to see the back of Spreadex, good riddance!
Taverham, that's a more than justifiable take - though possibly a little bleak.
This literally all comes down to how much credibility people give to the ANGS BoD and the information it has issued and continues to issue.
If (and yes, it's a big "if") ANGS can bring Saltfleetby to a sufficient level of production by July 1st at the absolute latest, then things should be fine. There's still five months to go, so there's still time, provided there's no more meaningful delivery, provisioning or regulatory approval delays.
But there's also the matter of potentially more funds being required to get Saltfleetby over the line. We already know about the "anticipated" shortfall in contingency - but this surely shouldn't be a problem, now that ANGS has got the authority to issue a sizeable number of new shares.
This is what irritates me so much about ANGS. They promise something and as time goes by, it becomes increasingly obvious that promise cannot get met... but they don't offer any realistic update.
So if ANGS knows it needs another unexpected £x million to bring Saltfleetby home, raise the funds required and tell the market. Or if realistic estimates on first gas have now slipped into April or May, keep at it and tell the market. Or if ANGS knows that after all, it can't bring Saltfleetby in by itself, get on with either selling the field or the entire company.
As far as offers are concerned, the potential problem is that, the nearer the date gets to July 1st without full production having started, the less ANGS will be seen as being worth, IMO.
gone (not one)
Spreadex have one, that's true.
"the decline in the SP is solely due to lack of credibility of the BOD. What a bunch of cu***. "
James - have you been on the Road to Damascus or something? You've been one of the biggest supporters of the BoD on here
If you take a look on the Angus website croc you will see the new share structure and significant shareholders list.
I would suggest this has far more to do with the drop than the Markets…..!?!?
Yanis, the pm will know the revised first gas date and my guess is that the bod realise disclosure will encourage low ball offers from vultures who believe the company is going belly up because of the contractual obligations on volumes. We shall see how this plays out .
Yes, some of it is down to the general market, but Angus is amongst the biggest percentage droppers.
Crocqman - couldnt have said that better.
Call me stupid, but maybe, just maybe, the drop is something to do with the market capitulation seen everywhere, and nothing to do with ANGS in isolation.
Every single UK index is down, main European markets down, U.S. markets down, Hong Kong was down. Ok small rise in Tokyo, but still.
A clear worldwide battering of the markets.
Folk pulling their cash out to safe havens, and small caps will suffer more than main market shares.
Yes, some will buck the trend, but not anything to do with ANGS, per se, imo.
BV, after the news that we had and the volumes that have subsequently traded (and the “for sale” sign still up) dropping back down to below 1p yet again is not a DAILY FLUCTUATION … Is a BIG PROBLEM.
Another leak looming?
Taverham, fully agree. We were promised transparency months ago but nothing happened yet.
There is no reason as to why the SFB schedule has not been issued yet. I asked for this last October, was promised in November … on the last day of November we had a vague schedule which showed tanks arriving at site early January.
Subsequent to that Angus said that they will issue a week-by-week schedule (which is what I asked for back in October) in January.
January is over in a week and the schedule is not out yet. Neither are the tanks that were meant to be on site early January.
Taverham. Feel free to use the Q&A facility to get your point across.
Yanis. obviously i want the Sp to increase but i ignor daily fluctuations because it will send you crazy.
The bod are the ones not cut out for aim .The rules clearly state that info of a material nature must be disclosed in a timely manner.Just because the first gas date will be slipping 3 plus months ( and the proof is in the company’s picture) does not mean the revised schedule should be issued 3 plus months late . The director ms here coul land themselves in hot water with the FCA or expose themselves to legal action like their predecessors imv .
Bridgedogg1. Recommended, I personally think there is much more gas in other parts of the licence and i would prefer to keep the asset or most of it. The 800,000,000 cubic meter storage facility is the future of Saltfleetby ie 15% of the UK annual needs for a major who will be taking our gas very shortly Hint Hint!!
… and here we go … bid now at 0.95p!
BV, anything I said you don’t agree with?
Does been “cut-out for the AIM” mean that you have to be giving your money to these companies?
There is no bl**dy excuse now to drop below 1p, or is there?
Don’t you think is time for Angus to promise us something and actually deliver it? Where the f*ck are the storage tanks promised to be at site early January?
Yanis, no offence but are you cut out for the AIM, you will make yourself ill with the stress and it's not worth it mate.
I've always felt the real offers would come in when gas starts to flow but at the same time the share price should also pick up as a result so then would you want to sell if the gas flow bringing in good income? Just pay dividends and force the market to rerate accordingly. As have been said an update on timelines is key, the twitter pics have been nice but indications are we are behind the end Feb deadline. I wonder if the strategic sale is actually a way of protecting the company from a low ball takeover while we are waiting to get the gas online, give the share price a boost and any offers below 3p (likely all of them at this stage) can be rejected. Will this drop below 1p? Are any more funds required? - surely not, we have raised for other projects on top of SFB so coffers must look healthy assuming capital spending has been put on hold - why make a thermal deal now? We really shouldnt be in the dark so much at this stage of the game.
nhawan. With the SOU advisor in a court case with us what would you expect, it's as handy as who's going to stick the knife in Boris first amongst his MP's
BV, I sense trouble here again, no way we should be dropping below 1p at this stage. You said it yourself - we just rejected a 1.40p offer, so we should be trading at least that now but we are not.
Falling to below 1p again is NOT JUSTIFIED - another leak? Like the leak that dropped us to 0.65p?
Is really time for some real transparency here. WTF is happening with Angus getting us to 1st gas? Already the rear-re-re-re-re-re-re- … revised schedule is slipping.
Yanis, I'm guessing it's because the market does not think the company is going to get results from SFB or can't sell the company easily. Even the SOU offer was a bit strange sincethey made an offer without even seeing any confidential information. The BoD need to get a move on and get to first gas soon.