Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. 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.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CAB/14022490.html
"We believe Cabot Energy is now in a stronger operational position to recommence drilling and unlock the inherent value of its production and development assets, subject to the necessary funding being in place. During 2018, the technical team carried out extensive subsurface analysis, resulting in significant upgrades to our Canadian resources and reserves, increasing gross 2P reserves by 26% to 3.6 mmboe, and increasing gross reserves and resources by 339% to 42.2 mmboe.
"The Board is in the process of assessing the most effective financing options to provide additional working capital, recommence drilling and efficiently grow production. As previously announced, this may involve raising funds at an asset level - an option which has been made more attractive by the restoration to historic levels of the Edmonton Light Oil selling price - in addition to approaching the market for a further equity raise if needed. Although no guarantees can be given that such funds will be readily available or available on terms that are favourable to the Company, we are encouraged by the discussions we have had to date and look forward to providing shareholders with further updates regarding the Group's financial position as soon as practicable." Scott Aitken - CEO
Just having a nose around here.... how on earth did the share price go up 50x on April 1st??? That is an absolutely crazy rise I have never seen anywhere.
I read the RNS (not on lse.co.uk!) and it just seems they increased their net reserves, increased predicted revenue and production but that's it. None of this was by a factor of 50!!!
https://polaris.brighterir.com/public/cabot_energy/news/rns/story/wvqn4vx
There was a capital raise via a subscription and open offer, in addition there was a share consolidation. I can't now remember the details of the consolidation but you if you go on to the London Stock Exchange website, the RNS's will be under CAB.
I hope this helps....
Thanks, helps a bit. I see the market cap is only £3 million so given they raised £2.5 million that must be why. Cheers.