Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Same point, I doubt the NEX facility would be available before there is production. The NEX is a bond therefore it needs to be under written with provable, steady cash flow to pay the coupon, I doubt any bond covenant would allow an issuance before such time. IMO, It is the wrong debt instrument for ANGS.
Rastuss
Thanks. Agreed. But one point, I don't see why there is that much space for an uptake agreement, given it is a commodity. ANGS will be paid the market price WHEN they deliver. The rest is straight fwd liability and account maintenance . Otherwise the higher ups in the value chain would have to have competing agreements with multiple players - inefficient and not sensible. Therefore, I believe you either have it or don't when you deliver, not months of legal / tense negotiation. The only thing anyone would wait for is product. Or are there other considerations?
Believe they can make back at least some of their losses by buying in at present levels.
mostly talking to themselves though,oh deary me,whatever next,lol
Takeyourbets - surely if one was part of an Action Group ...wouldn't they be called say the Angus Action Group ....and wouldn't that mean if you were against that group taking action ....that would make you the ...AAAG?
The anti angus action group are really at it today lol. Shame it’s made no difference for you guys on the share price even though the market is down. I suggest maybe a job to make back your losses.
Fact is once SFB gets underway, angus will continuously have profits coming in adding gradual value to the company and will ultimately make us a lot of money.
Gla all strong buy from me ;)
gkb47 - actually its even worse...Angus has always managed to stuff up the Environmental application from the days of Brockham onwards .....you would think they would know by now...yet continue to make mistakes.
Balcombe 7 day well test (we still don't know for how many hours minutes they actually flowed) was completed on 2nd October 2018.....and since then all they have managed to do is shoot themselves in both feet by cancelling the test permit....which means you have to start all over again...
It's a sad investors version of snakes and ladders....just as you think you are starting to make progress ............
Rastuss / Alan2017
How can ANGS get an off take agreement before producing? If I'm a refinery / higher in value chain wouldn't I wait to see they can actually get it done first?
Cash in the bank for the decommissioning......
New Angus / Old LLTM
Nice to see you are in a pleasant mood today. What makes you think ANGs is well funded w plenty of cash and will not need a placing? Would you explain further and include your estimated burn rate?
GLA / DYOR
some couldn't give a rats ass about how to make money. Should change his name to Bearuss . I for one don't mind the odd occasional moan but some really to blue for me.
so I was left with a decision, either sell at a significant loss or hold and hope the SP recovers with Balcombe and the 'new model management' ...
---------------------------------------------------
or average down.
Rastuss, yes I put near enough £100k in to ANGS, but I am no where near needing to file a TR-1.
You do not see me frequenting this board though as much as some people do with obviously nothing invested here. Perhaps they took a short bet? I do not think so though, it doesn’t add up.
They lost money on Angus? Maybe.
A normal trader or investor though making a bad trade normally picks up, puts it down to experience and moves on .... Doesn’t waste tons of time loitering the board of the stock .
Time is valuable.
Well ... err ... no, I didn’t buy today... and I didn’t buy last week ... no spare cash.
My average is down from over 6p to around 2p right now. I wish I had the cash to bring my average right down to 1p ... but I don’t.
I am happy with the 2p average, but I am still adding as and when I can.
I cannot understand people that have no interest in this stock, they don’t believe in it, have no hope In it ... yet they are spending more time here than me ... with near enough £100K in it.
Life is a mystery!
Patience guys.
After initially been furious with the Brockham failure, the head is now cooler. Angus is just the same as most other AIM companies, no different.
I am using this low SP opportunity to accumulate and bring my average down. I don’t listen to the crap ion this board anymore.
I believe that the Angus SP will, give it time, shoot up again to much higher levels. I am buying now, when FOMO sets in ... forget it.
Aren't they just? The Thought Police are out in force, with their twin-pronged agenda of getting anything less than swivel-eyed ramptastic opinion deleted and of course removing any trace of whenever the yawning flaws in their more ridiculous comments are highlighted.
Alan2017 just out of interest, if you are not invested here, sold out while back, and you are part of the ANTI ANGUS ACTION GROUP, what is your purpose or motive here? To lose genuine investors money? Just wondered of course each to their own of course.
Rastuss - firstly I don't know why anyone could accuse you of trying to insinuate "fraudulent accounting" when all you are merely doing is stating the numbers and facts as produced from the company itself. Very odd indeed.
Now getting back to your question....you are quite correct that those numbers have been included in the budget for the overall health of the company, just like the fabled 400bbls production from the Lidsey and Brockham Portland in 2017 was going to make it a company maker with a strong cash flow generator......anyone who chooses to remember facts will also remember that it didn't turn out like that and placings soon occurred....for that General Working Capital fund.
So have Angus learnt their lesson...as they had another one in 2018 when Balcombe was going to be the company maker....sadly that has been a saga in itself due to Angus cancelling the testing permit. Was somebody held accountable for that I wonder?
Just like a household budget you have to plan for outgoings including mortgages, loans and this can't be deferred...except with loans you may be able to renegotiate with higher interest payments. If you have less money coming in (say for instance the revenue from Lidsey 2020 will be far less than £200,000 in 2019 at $63 a barrel (please bear in mind that this is before deductions like trucking of produced water which costs £49/barrel (yes thats Pound Sterling) and lease payments which left them with a small profit in 2019.
I wonder if George still thinks it was a good idea to pay Doriemus £460,000 for their stake in Lidsey? Wouldn't that have been much better spent on say SF for instance? No water injection and £49 per barrel trucking / disposal fee for produced water. It will take 10 years to pay off the $460,000 using 2019 average of $63 a barrel.....
Imagine that £460,000 coupled with rent savings (£300,000) coupled with Directors and Staff taking 20-30% pay cuts (equating to £200-£300,000 a year savings).
Thats over £1 million in savings or another way of thinking about it...it pays the Staff wages plus the office rent plus travel...plus PR fees.
George never did say why the rent shot up from £115,000 (2018) to £410,000 (2019)? Is this the reason Knowe properties has never sold a share since Angus went PLC as they make more money through rent? Page 20 for those who are interested...
Angus have used the Chiswick address since IPO days...so why the 3.5 times increase in 12 months (and no this is separate to the £180,000 that Angus have to pay in Site lease fees).
Counsultancy fees of £400,000….will be interesting to see how much it is now.
https://beta.companieshouse.gov.uk/company/SC055329/filing-history
So Angus received £2.5 million to get to First Gas, yet the CPR states it will cost £2.79 million to get to First Gas....so that means Angus have to find £290,000.
And still no update on Angus website since 9th July
Rastuss - regarding how companies work...old school email and phone calls. The odd face to face meeting with a break for Kit Kat is easily compensated with the likes of Zoom. Only a visit to a factory or the site would have been delayed in the early days. But considering Angus is still in the planning phase .....no issue as long as
"We are a young company, but we are an Oil and Gas Production company, OGA approved operator. Which means that we drilled HH well before that as a manager of other companies who drilled other wells. We know how to produce, how to stick to all the regulations, how to keep costs under control without reverting to a lot of different service companies. We do it in-house. We’re a lean organisation."
Now where did we hear that before?
Rastuss - Perhaps Angus have hired the excellent team that built Berlins new airport or maybe an ex British Rail planner.
As you state Rastuss you are merely quoting what Angus and Lucan have been telling the market....one does wonder why a team with 80 years experience would issue an unachievable timetable. It was obvious in December 2019 when I said the earliest for First Gas would be end go Q4 and now I will still stick to my February / March 2020.
Reviewing the 2019 timetable doesn't make pleasant reading for milestones.
Slide #10
NTS Detailed Design, Equipment Procurement, Construction
Start Date: Mid November 2019
Completion Date: Mid April 2020
5 months
Yet Angus RNS paints a different picture
“…the National Grid has agreed to carry out the works required for the DESIGN and CONSTRUCTION of National Grid Facilities at Theddlethorpe. Long lead items have been ordered and construction remains in line with our project schedule.”
http://www.angusenergy.co.uk/wp-content/uploads/2020/07/Opertaions-update.pdf
Pipeline Detailed Design + Construction/Laying
Start Date: Start October 2019
Completion Date: Start May 2020
7 months
Well we can remove the majority of the Design phase timings, yet still have to go through HSE approval whichh Lucan said by September…..
Pipeline Pigging & Commissioning
Start Date; Start of May 2020
Completion Date: Start of July 2020
2 months
Processing Facilities Design Procurement
Start Date: 3rd Week of January 2020
Completion Date: First week of April 2020
2.5 months
Facilities Installation & Commissioning
Start Date: 3rd week of March 2020
Completion Date: Mid June 2020
2.75 months
PRODUCTION TARGET
Target start up for MAY - AUGUST 2020
http://www.angusenergy.co.uk/wp-content/uploads/2019/12/Saltfleetby-Gas-Field-Dec19.pdf
gkb47 - This interview still makes me wonder the logic?
@15min 43secs - GL: IT’S NOT OIL TOURISM
ITS NOT OIL PICK UP YOUR LAUNDRY
ITS NOT OIL VISIT YOUR GRANDMOTHER
ITS OIL EXPLORATION
https://www.youtube.com/watch?v=EjFrIeyS1OM&feature=youtu.be
gkb47 - simple paperwork has been Angus Achilles heel from before IPO days
Rastuss - we have to take the Angus litmus test and see where investors rank it on anticipation using LSE, Twitter and stock price.
This tells the real picture, one that certain posters can't hide. Zero interest...Twitter is quieter than the Brockham site.
Lucans' response to aBrockham question throws up more questions.
"We will resume extraction from the Portland but only with the assistance of water injection which is subject to Environment Agency approvals. It is difficult to determine how the reservoir will perform with water injection but the mere ability to re-inject produced water will substantially improve the economics of the field and reduce the environmental impact of trucking the produced water miles for disposal which, given its salinity, involves burning it! As to timing, we have spent some time bringing the older wells and the site into good order during this lull, and we expect to resume production as soon as EA permit conditions allow but at any rate this year."
If Angus haven't already and fail to continue drilling a groundwater monitoring well(s) and ensure wellbore integrity ...the EA will continue to refuse, just like they did with the EA permit application in 2018.
"As to timing, we have spent some time bringing the older wells and the site into good order during this lull," well Angus did that in all of 2016 and first 3 months of 2017 to get the site up to EA standards ....only to fail the inspection and have 8 conditions to rectify.
Do you know that Angus kept no records of where the membrane had been laid?
PS - last RNS I see on Angus site is dated 9th July 2020...no sign of the repayment RNS?