Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Yes... copper too Charlie.
All resources shares are undervalued currently and have been for SOME time! Looking forward to a market change in sentiment as it would certainly help my share folio right now!
GL :-)
Shrewd move IMHO.
I'm still awaiting Gold lift off for an explorer in Aus! ;-)
YL
no problem my spike will come one day...busy now loading "G" for gold..:-)
Sorry Will ;-)
YL
Thanks for that....
WEC,
In case you missed it:
"Questions were also asked regarding the Company's immediate financial commitments at Balcombe and Brockham and Managing Director George Lucan noted that the Company's recent equity placement and offer to shareholders included adequate provision for both sets of works and additionally that the Company's cash resources were presently sufficient to meet all reasonable liabilities in the forthcoming months."
If Saltfleetby money is now ringfenced (and if the OGA have any common sense they will INSIST ON IT with ANGS!) then you can guarantee that Lucan will be handing round the hat (yet again) in a few months time.
I bet what remains of my shareholding value here on it!!!!!
£2.5m ring fenced is standard practice, though earning some nice interest (though GL reckons they can decommission cheaper).
Angus is in fortunate position of raised £3.1m at 4.25p and while it's terrible for prior shareholders it presents quite an opportunity for entry at this level with no placing needed. Also, given most of our MCap is cash in hand and Saltfleetby is a de-risked asset worth >4p by itself (though I understand folks will only believe it when they see it).
I'll happily take some more from impatient sellers - best time to invest.
Dont forget we raised £3.1m through placings in May, 1/3 for Balcombe, but the remainder (now Brockham has stopped) is available to the ANGUS.
Must say... I am truly knocked by Lucky Lucan's performance so far...
Takes a lot of skill to wipe out 90% of a share's value in the space of six months... wonder what he's got planned for an encore?
I guess he'll buy in himself after the next placing... or maybe never?
They receive £ 2.5 million for doing the deal - that is to pay for the eventual decommissioning and it looks as if the OGA will require it to be ring-fenced in some way. They're getting very touchy about claims that oil companies can walk away and leave the land owner or the Govt to clean up.
That means they need to spend to redevelop the field - how much that will be is currently unknown. The OGA will want evidence they have, or can definitely raise the money before approving restart.
They MAY be able to get away with a small raise to get things moving and try and pay for full redevelopment out of cash flow but either way its a long time before we'll see any cash back to the PI's
It would not surprise me if the OGA require ANGS to raise funds for the development of the Poundland gas field before they approve the acquisition transaction. If they previously 'thought' that the £2.5m was sufficient then they will have to raise around that amount.
With a £6m mcap what price would they have to offer the shares at to get that size placing away? In the event of no other news in the meantime it would have to be at a significant discount.
Just imo as DHC would disclaim.
It was always likely that the OGA would keep a beady eye on Angus and the decommissioning funds - they were seriously embarrassed over the Brockham planning permission issue by Vonk et al and I'm sure they won't give them an inch of wriggle room if they can avoid it
Hopefully, they will apply before end of August.
However, as there are no WSCC planing committee meetings until October, i think they have a few more weeks to dot the i's and cross the T's, and make sure (as they are already speaking with the council regularly) to get this as correct as possible.
No more Wonky Vonky applications
if 1 or 2 more sell herd will follow thats why i think we will hit 1p today
Factoring in there are 9 trading days remaining before the end of August (including today and the bank holiday), if news on the Balcombe application does not come in as promised then I believe sub 1p is likely. Even today's RNS does not instill confidence with the gas field...
Still miles to go before we start to see a decent recovery here and with sentiment shattered by the most recent turn of events, I do not see it coming back anytime in the near future. Either way, wish all of the LTH and those who are stuck in here good luck in the coming weeks. Hope you can recover some of your losses sooner rather than later.
Sadly, whichever way you look at this... current shareholders are going to see yet more dilution - long before they'll see anything that looks remotely like a profit!
This is so murky and shaky now that I am pulling my buy order. Georgie's not playing ball with his buy-in (unsurprising, given what he knows, I suspect) and I don't want to become an accidental LTH like Will. He can check out any time he likes - but he can never leave.
At 1.125p, the decline on the pre-Brockham RNS close of 3.55p is 68.3%.
It can't come if there are no more sellers or if the buyers outweigh the sellers!
Sub 1p incoming...
including 3 since the RNS.
Just 7 trades so far this morning.
looks like we may go below 1p today