Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Pre2rcd
They pulled out because the deal involved giving Eco shares to JHI private shareholders but JHI did not agree to the lock out terms before which they could sell Eco shares in the open market. Eco were concerned a flood of share sales would weaken the SP.
If anything it tells me that some JHI shareholders are be looking for early monetisation of their stake.
All IMHO DYOR
Happy
https://www.offshore-energy.biz/eco-to-boost-its-stake-in-exxonmobils-block-offshore-guyana/
Loks like Eco agred to buyout JHI in March only to pull out a few months later.
Though I think the deal is a good one, I also think RKH (which I own) and/or Navitas could make a all-paper counter offer.
All IMHO DYOR
Happy
https://www.lse.co.uk/rns/ECO/further-share-purchase-in-jhi-quamjt3haol75ve.html
Shareholders will be left with a c.10% stake in a company that has a 17.5% stake in the highly exciting Canje block as a result of this transaction. A private company that is very well capitalised.
I own Exxon shares and they are about to embark on a huge drilling campaign in the Canje block so this is a way to get exposure at very little cost.
The only fly in the ointment is that JHI associates is private so it won't be possible to easily sell shares. However, if Exxon strikes oil in Canje, the private shares will be worth a lot more and JHI will likely seek flotation or a sale to monetise value.
Eco Atlantic owns 7% of JHI and Arg shareholders will own slightly more. Eco previously bid for JHI but the deal fell through over a technicality (lock-in conditions). I think Eco could easily create a tender process to buy Arg / JHI shares in future.
Arg shareholders will need patience but this looks quite an exciting deal.
Please note this is, of course, high risk. So tread cautiously.
All IMHO DYOR
Happy
following completion of the Transaction the Board intends to seek cancellation of the Company's securities from admission to trading on AIM ("Cancellation"). Cancellation would be conditional upon the consent of not less than 75 per cent. of votes cast by the Company's shareholders given in general meeting. . Following Cancellation, it would be the Directors intention to liquidate the Company and distribute the Consideration Shares proportionately to Argos' shareholders on the register at the relevant time."
Pretty clear - the shares are canceleed and youget some Canadian shares in their place - https://www.jhiassociates.com/ - do not seem to be quoted so you will own stock in a private company . there will be no market in the ormal sense in these.
You can hold on and hope they strike it rich - at that point they would either float the company , probably in Canada, and you'd get a stock you can trade in Canada OR they sell out to a major and the cash is distributed to share holders.
If you are a long term Argos holder it practically makes no difference - you've bought a ticket in the lottery - its now a Canadian one not a UK one. You've waited 12 years for something to happen , you might as well hang on and pray.
If you trade the stock you are stuffed
Hi. Please can someone explain what is likely to happen to our shares if this sale goes ahead?Would we receive shares in the new company? And what happens if the new company seeks cancellation of the Company's securities from admission to trading on AIM ? Thanks in advance
Garbled
Honest Q. Why buy shares in a company that is bust, intends to delist? You are literally pi55ing your wealth down the drain
Bluehorse,
Time to buy - Add....IMHO-DYOR
"the Board intends to seek cancellation of the Company's securities from admission to trading on AIM "
Garbled, sell while you can, otherwise you will end up with a piece of Canadian paper to frame and hang over the mantlepiece.
**Got to pay the directors**
You need to do research before posting nonsense, thanks....imho
Afternoon MD thanks for the reply your opinion is valued and always level headed ta GLA
Got to pay the directors and keep the lights on somehow.
"It's great news for Argos and the Falkland...imho"
"GREAT news for Argos" is stretching it but I guess the alternative was loss of the licences and the company folding - once Navitas came on board for Sea Lion FIG can see a light at the end of the tunnel and don't have to keep renewing licences for the real minnows
If JHI farm the acreage then we lose another percentage of any eventual find but then we don't pay anything either
Still, Good Morning,
It's great news for Argos and the Falkland...imho
JHI aren't operator but they are in the money, they did go in offshore in the past
And farming it out, they have done well.
Why would a Canadian firm invest in the Falkland if they are not going
To sort out the farming and drilling etc...?
2 years of extension for the license, when the SL FID news?
MD whats your take on the RNS
Its sad but inevitable - Argos were never properly capitalised to explore anywhere TBH. It was fine when they had someone to carry them but once Noble dropped out the writing was on the wall.
JHI also aren't a real Operator, I don't think they've ever drilled a well themselves, but they do have good financial backing and they will have contacts that Argos don't. No doubt they will farm the block to a bigger outfit.
This is a sad day for ARG shareholders . imho
Is this right, approx 10% of $30 million.
As of 31 December 2021, JHI's audited financial statements indicate total gross assets of approximately US$30.7 million, of which approximately US$27 million in cash and investments, and total liabilities of approximately US$500,000.
It's amazing how such little volume can have this rise quick
Just shame we don't have the volume in buys
It seems some buying activity is going on with Arg. Could it be that now fracking in England is again banned the Falklands might be a viable energy resource to solve current and imminent energy problems?
Just a matter of time that the British government backs Sea Lion as they try to gather all energy resources possible when considering the energy crisis about to happen.
Yesterdays RKH rns seemed to indicate to potential prospects other than their own licenses fingers crossed
I just took a 3D Prospect Tour ( http://www.argosresources.com/the-opportunity.php ),....giving myself a timely reminder, why we hold ARG shares,.....I'm no geologist, but I have heard it said by one, that the best place to look for an oil field, is close to an existing one,....with sea lion, looking as though it's going to be developed now, (IMO),.....ARG with a market Cap of £6m approx, their acreage location, along with the 3D, make ARG a hold for myself.
BW
What k...head sells £2.37 in order to maintain a shi..y sp
Fudging for no reason
Rant over as you were