Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Comments on this chat, ramp or deramp doesnt influence anything, except possibly a couple of naïve PIs who wont last long.
Many LSE board followers are in their own little echo chamber, waging war against each other on these boards as if it actually matters. You think if every comment on this board was positive the share price would be any different? 1.5p? If so you are deluding yourself into thinking you have some kind of control over your investment (for rampers) or lower entry (for derampers). Also the idea of 'paid derampers' for specific shares is also nuts. Suggest you come away from the boards for a bit.
Yes, please do visit ADVFN and just check out the endless spamming from ED under his IDs of DaveMarn, Solo4Yous, 3Put and UltimateJustice9. Not just on the ANGS bulletin board either, but any board he could find.
Collusion much? Can anyone say "paid shill"?
Yanis
Quick tip
If you really want to know people like HeadInTheSand intentions, do read his disgusting posts on Adfffnfn with his local NiMBYS shorter friends like JTIsbadly JA51OILER Terminator101 Chickbait and 1347 CQClotted
I'd hate to assume they were the sellers of the placement shares or shorters there on in.
Trust no one on BBs many are paid Sellers /Derampers and particularly HITs wg818
Most banned here.
If you don't believe me, read the vile torrent of abuse over there with anyone remotely with a positive view.
Then come back here and consider how he plays a polite hand here but infested with disgraceful negativity that suits a horrible community of those who want Angus to fail.
Just think if the derampers weren't here the share price may well have been 2p with placement at 1.5p.
Just think about how they damage a share price with torrents of negative abuse.
April/May 2022
Is my estimate
Think this TRIPPLE Sized placing from last December is a clue...
That clue being there is enough funds now to see through revenue generation therefore, in my opinion substantially reducing the chances of a repeat January 2021 placement that included warrants. Warrant holder aren't bother to support the share price or company because they didn't exercise out of the money.
So this is a TRIPPLE Sized placed, yet half the big placing last Jan 2022... That is potentially enough to see them through April / May 2022 First Gas.
5 years of disasters and people want to chuck the towel in?
Stupid to sell.
Irrational too.
Newsflow and Increased Activity for Saltfleeby should easily see us up and over the 1p line than before IMO.
0.70p to buy not 0.65p.
Fortune favours the brave.
Long termers shafted. And my holdings are always subject to risk. I'm not at a high average and could easily be in the same boat as Yanis. Many will freak out and sell at 1p good for you....
Last placement like HZM to 9p?
Never say never.
Odds looking good IMO.
Will be buying more.
BV, “as long as we get SBY over the line that's the main thing” - We all want this, everybody agrees with this statement but the problem is the line. It keeps running away from us.
Now, if you are expecting the line will stay still at end of February, you will be disappointed. The quoted delivery schedule will not allow sufficient time to get everything done and certified and over the line by end of Feb. Will be lucky to get it done by end of March, but with these clowns I am not holding my breath.
The placing is without a doubt to pay for G&A expenses (primarily salaries). As can be very simply worked out from known cash as of Mar 31st, plus monies raised since vs monthly cash urn (excluding Saltfleetby), ANGS was running on fumes.
BV the funding uncertainty with CPR highlighting cost overrun and EA queries on gas flaring modelling and noise suggest added costs were from some of those observations.
They are closer to first gas than in 2 years and people need to chill the fek out.
I know it's been a pigs ear to say the least, but as long as we get SBY over the line that's the main thing GLA!
Chill out
Breathe
All good.
HITS, let’s be factual. Small correction, the original SFB reconnection cost was £2.5 mil and not £2.75 mil.
Not that is much of a difference, it grew to £12 mil and now it is claimed is not enough. Is damn disgraceful.
I wonder who the original “experts” were that estimated the £2.5 mil costs. Also wonder who the other experts were that estimated £12 mil and increased time requirements.
Now in last RNS we see they discovered the requirement for “electrical, control and instrumentation and safety and emergency shutdown systems” and regulatory requirements. How come none in Angus new this? After all they are energy producers!
Let’s hope that the “experts” now have learned and have all the facts and requirements, but if they still believe in 1st gas by end Feb with the stated delivery schedule i doubt it very much. IMO 1st gas end Feb will not be met.
What this placing will be used for (of course) is item 4, the last in George's list, namely:
"· Working capital and general costs."
No kidding. ANGS was down to its last knocking of cash for all non-Saltfleetby related expenses. And it couldn't even raise the £800k it wanted because even at guaranteed margin rates, the City boys wouldn't take up all 130 million shares on offer.
Or are the cheerleaders stating that George and the bord are so incompetent that, having got the costing for Saltfleetby so incredibly wrong first time around (£2.75m rising to an eye-popping £14.75m), they've got it wrong yet again, even at this allegedly very late stage to the tune of a further £750k?
I'm expecting a new CPR for Lidsey about the enhanced OIP using the new depth conversion technology. I think shareholders will be pleased by the results IMO.
... including work to resume production at Lidsey during Q1 2022, subject to regulatory approvals; ...
------------------------
Isn't the implication that ANGS are confident in their ability to bring on board a partner?
Could there be a follow-up RNS re Lidsey in the nearish future?
I presume our partner is IGas for Lidsey because they have the surrounding licence.
The net proceeds of the Placing will be applied towards:
...
-- Planning and regulatory matters in respect of its current oil fields, including work to resume production at Lidsey during Q1 2022, subject to regulatory approvals; ...
Ocelot. I agree with looking forward, we should have updates about Geothermal,Lidsey and the EA before Christmas IMO.
And, there is a big stench in the air over this placing … buy out rumour pumped whilst the SP is dropping … then placing news.
--------------------
If that was a pump, it was a poorly executed one. Volume on the morning of the repetition of the rumour, Thursday, was nothing to write home about, the impact of the rumour was close to zero.
Debt facility in place, £750k of equity raised, time to turn towards the future, imho, both in terms of Saltfleetby and of Lidsey.
Morning Yanis. I meant proof of funds for any extra environment commitments to get the permit which is due. GL seems to always have ongoing discussions with regulators to hopefully make the process run smoothly. Regards to the placing, as long as we get the gas out roughly on time and Lidsey starts producing the SP will take care of it's self.
Is not the EA or OGA that requires funds … is Angus. It is purely to pay their salaries which the recently doubled. They could have chosen to defer their salaries or get paid in shares … just some other AIM companies do, but no.
If 1st gas starts end Feb as they promised, with current gas prices Angus finances will substantially improve in weeks. Does it feel as if 1 st gas is end Feb?
Anyway, no regard for shareholders, none, zero.
This explains why as yet they have not bought any shares, even though GL promised to buy.
Kind of reminds me of SS over at UKOG who had options at 0.4p and with the SP at 4.0p would not exercise them - now we now why; ukog SP is now down to 0.1p and sinking whilst the float gone to more than 16 billion.
And, there is a big stench in the air over this placing … buy out rumour pumped whilst the SP is dropping … then placing news.
"At least the EA and OGA will be content with the extra resources, it may have been a condition before the EA permit is allowed.
The EA and the OGA never look at the running costs of any oil company - they may ask for assurances on abandonment liability but in this case that will be part of the £ 12 mm which was supposed to make ANGS "fully funded"
At least the EA and OGA will be content with the extra resources, it may have been a condition before the EA permit is allowed. It also now looks like Lidsey's progressing and the extra income will help clear the debt even faster, keep your eyes on the prize and ignor the price!
"May well have been the last placing undertaken at these kind of share price levels."
true - the next one will be even more shares at a lower price - I'd guess in early March
"On ANGS, companies have overheads to pay, time costs money, I think GL has done all he can to limit the size of the raise."
i don't remember you pointing that out while you were ramping this share earlier this week Ocelot.
May well have been the last placing undertaken at these kind of share price levels.
Yep so will I. Funded and I bet the updates start flowing out the door now. Gla