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... the proposed GBP12 million Loan Facility has soft commitments and Mandate "best effort" commitments of approximately GBP20 million in aggregate (3rd RNS of 22/02).
The debt facility has taken longer than anticipated and, unsurprisingly, has had knock-on effects on Saltfleetby's timetable.
But ANGS had already missed out on this Winter's natural gas prices.
Looking forward to the next answers to Investor Questions, to the Balcombe planning committee meeting of 02/03 and to the webinar of 04/03 - there is a lot going on.
Jackmoore. After todays news that's a very optimistic March sp of 0.9. The sp was 0.6 around 3 months ago.
'I hope the bod are given a real grilling at the meeting.'
There will be no BBQ - attendees can only submit written questions; they are not visible to other participants and the company can choose to answer any questions it chooses to. It would be possible for them to 'phone a friend' and get a question that they want to answer submitted.
Very disappointing timeframe for SF (yet again).
My initial, and I thought, realistic expectation was for for Q4 2020,and this has been pushed North at various points since.
Bod starting to lose trust and credibility over the funding and timing of projects now, imo, even accounting for covid impact.
As many have said, what is a few more months?
But, when the 'few more months' has become a few more, and then a few more, when will it stop?
As I have posted regularly before, I was intending to exit at the end of 2020 with first gas at SF (after holding tight since Brockham), based on the original (delayed timeframe).
Felt really positive throughout 2020 with the updates and progress reported, to the extent of several top-ups over the year to reduce my average and potentially looking to stay on board for the new project, and was even looking to top up further at anything under 1.00
No chance now on that plan. Will continue to hold as I still see a return here, but only interested in SF now, everything else is a sideshow.
I hope the bod are given a real grilling at the meeting.
Feel like I am turning into YorkshireLife at every new news update here. Hope he is well with him, wherever he is.
gla
You would think with all the negative post posted today about angs,,You would think they would be bailing out in quick time!!, but like you point out vey little volume to suggest that!!, maybe all them saying there selling there shares or we shouldn’t invest in this company or a pound land company or that it’s all just one big con!, have had a change of heart and decided to keep there shares after all
With just 8m shares traded I doubt many are panicking just yet.
BV, yes, I just cannot understand why? They had quite a lot of time to do their due diligence. The conclusion of the funding and the drawdown seems to be moving back all the time.
There seems to be a lot of hesitation regarding the loan providers, i wonder why.
Almost saw sub 0.90 on Feb 24th! Maybe GL should of exercised his options at 1.20 instead.
And within the hour.....there we go. May even see sub 0.90 by March 1st.
"It should be emphasised that the Mandate Letter is not a firm offer of funding and completion of the Loan funding remains subject to the satisfaction of those various conditions that currently remain outstanding."
Can firmly kicked down the road for 6 weeks - interesting that the large amount doesn't seem to have come via Aleph............
The selling on the small spike reflects the sentiment for this share. This RNS does seem to be a filler with not a great amount of substance. Will keep holding as there is still good potential here.
I disagree Jack . The concern was that no funding would be forthcoming. At least we now know there are some realistic prospects, although as per my post below nothing is yet concluded. Angus recently placed, so one would assume alongside the warrants they are reasonably funded for the near future.
I quoted from Hamlet before re ANGS, GL and this waste of ink RNS.
I'd have been better maybe quoting from Jerry Maguire... stop wasting everyone's time with nonsense, George - and show us the money.
Been in Angus for 3 years now and I've seen nothing that wants me to stay in for another 3 years. Disappointing RNS in my eyes. Not all funding offered let alone even fully secured. For me, we are in potentially even a worse position than I thought was possible. My best hope was funding would be secured, albeit late and we could get this show on the road properly. Without funding agreed, there is no purchase of plant which delays first gas further. GL dangled the carrot enough with a promise of updates to other business assets in the coming days - but we all know they're even less valuable than a best efforts letter. What's to say there won't be further placing/dilution within the next 6-8 weeks to keep the company even trading. Shambolic. This will go sub 1p now it's confirmed no meaningful news will be released until March (knowing the BOD it will come 31st).