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My guess we were down to very dangerous levels of liquidity if we had $12mil left 8 /9 months ago and that also gives an indication of the BoDs true transparency!
A rather disappointed Sft
Rgds and GLA
The BoDs lack of clear information must be influencing the 2 most recent investors Askar Alshinbayev and Covalis Capital LLP AND any other potential institutions.
The continued suprise share places and block issues (incentive renumeration) for directors does not give a stable platform for investment and again fiscal confidence.
So accordingly from the RNS Number : 3644D
Issued in June 2023
The share-based payments charge of US$4.2 million for the year ended 31 December 2022 was US$3.4 million higher than the US$0.8 million in the previous year mostly due to the granting of employee and Directors' deferred share awards in the current year, and the full year impact of awards granted to employees joining the group as part of the Africa Energy Management Platform ("AEMP") Transitional Power acquisition in June 2021.
We successfully raised US$29.5m in June 2022 to progress the FEED for the Anchois project AND for FURTHER development of our POWER portfolio
Sft note: Unknown expenses or potential finacial costs on AP "ideas" and justification for annual $750,000 salary/ renumerations (up from $500k)
"The Group's loss after tax for the year to 31 December 2022 was US$14.9 million"
Green hydrogen and other business development costs of $1.7 million
Other administrative expenses of US$8.5 million for the year ended 31 December 2022 are higher than the previous year's US$4.5 million due to one-off new venture costs, employment costs from scaling up the team to progress the Anchois gas development, as well as the inclusion of administration costs from the Transitional Power acquisitions.
"As at 31 December 2022 the Group had cash of US$12.1 million, no debt and minimal licence commitments"
So any guesses on current cash burn rates...and the real reason of the very latest large share placings...IMHO NOT just onshore exploration and "finding more gas"
GLA
Rgds Sft
We’re certainly being subjected to “endless drivel” smyth111, but none of it has anything to with Chariot or the BoD.
Usually they try to at least support it at the placing price. Minimum should be a RNS providing clarification.
Think there willbe better opportunities to topup IMO. Hate to say it but feel we are going to test 12p now after the awful lack of RNS to boost this price. We are now open to endless drivel of what may be when they cant even give us a deadline rather than leave it open ended timeframes. Very disappointing to say the least🥺🥺🥺
Hi Jimmy,
I respect your views and think you are the most knowledgeable contributor on this board but i'm not quite sure your point is too relevant here as its just a snapshot. As we speak Predator down 2.5%, Chariot down 2.61%.
I think the reality is the RNS (or not) this morning had zero impact on the SP but I agree with a couple of others that it is just indicative of the boards poor communication although I appreciate they did Tweet over the weekend.
Earthquake RNSs are not a positive. More virtue signalling.
Predator down 3% after rns, chariot with no rns is up 0.4%
Jimmy
SDX issued one too.
Yes, and actions speak louder than words so give them some credit for that.
Incidentally one of APs other Companies -RBW - have just announced a sale deal for rare metals which will be a distraction for him.
I hope all on here will be giving support to help those whose lives have been shattered by Friday's terrible earthquake. They need donations no matter how small.
They tweeted support and donated to the just giving fund on Saturday
And Chariot PR should have opened with exactly the same this morning but as usual they've done nothing. Hard to come up with a company with less proactive investor info.
PRD have issued an RNS which would be equally relevant to CHAR:
“ Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries the "Group")
Moroccan earthquake
The Company is terribly sorry to have received the news Friday night and over the weekend regarding the earthquake in Morocco. Our thoughts are with all those affected by this shocking tragedy.
The Company's operations in northeast Morocco are not within the earthquake zone, however we recognise that this will be a very difficult and sad time for all of us who have worked in Morocco for many years and have a special connection to the country and its people.”
It’s the same for CHAR as CHAR’s operations are not in the earthquake zone.
🙄
People never cease to amaze with such distasteful comments/agenda.
Heartbreaking to see the devastation in Morrocco and I hope equipment and help is on the way now from the international community. It was nowhere near Chariot's site though.
Hi Ianfer,
I also made a note about rainbow. Unfortunately did nothing about it. Hindsight is frustrating.
I've seen criticism in various news channels, about the leaderships lack of response to the crisis in Morocco. late reaction to the disaster and no response to global offers of help . G20 in session meant offers for help were faster than usual. Lack of news to the people on the media also apparently?
I can see a backlash if this is the case. A declaration that ambulances will be sent to the affected areas is not going to cut it, when many roads are inaccessible.
The epicentre of the earthquake was in the Atlas Mountains near Marrakesh which is a long way from Anchois. It is obviously very upsetting that so many have died but there would seem to be no reason why Anchois should be affected. It is in very bad taste that derampers are peddling their nonsense to try to damage CHAR’s sp.
Hi Ianfer,
I also made a note about rainbow. Unfortunately did nothing about it. Hindsight is frustrating.
I've seen criticism in various news channels, about the leaderships lack of response to the crisis in Morocco. late reaction to the disaster and no response to global offers of help . G20 in session meant offers for help were faster than usual. Lack of news to the people on the media also apparently?
I can see a backlash if this is the case. A declaration that ambulances will be sent to the affected areas is not going to cut it, when many roads are inaccessible.
Interesting or not? I saw something good about RBW but forgot what it was! I later googled to find although I (we) think A.P. is fully focused on Char and little else, then find he has £more invested in RBW than in Char. - around £13m. On 13/5/23 he and other directors bought a pile plus Techmet Ltd (private Co) bought enough to take their holding to £10m - all bought for 10p each. Now worth 16p! Whole Co. Cap = £97m. These guys will do what they can to make £££££s
Watch the sp tomorrow.
I can see 2 reasons for a drop and one for neutral. 1) If the Earthquake affects Anchois progress 2) an excuse for those in the know to allow mates to buy more cheapo.
After the tsunami in New Zealand tradesmen were at a premium esp bricklayers. There will be an urgency for more power in Morocco asap but for Char to go up we need a deal!
I saw 9/11 on the telly just after it happened and thought I should sell everything but didn't. The market hardly moved for the first hour or so but realised after that investors must have been in shock as it dropped quite a lot later that day.
I'm doing nothing on this except probably send a donation for relief. Then wait hoping Char BOD know what they are doing.
I fancied a trip to Fairhaven Lake - St. Annes today for interesting activities for Grandson etc but weather looked poor so was gardening till rained off. Puts things into perspective when you see stuff like earthquakes going on and we have some rain!
Well, one thing is for certain, its not going to impact on our production.
Is that an opinion or is there a report you've seen Wiz?
Opening 20% down in the morning due to the horrible events in Morocco??
Hi Louis.
Not sure if management are holding this back. They seem the opposite, with premature announcements of deals IMO. Bit of naivety on the BOD's part to say imminent and shortly, before all the details are presented for a deal. I feel the goal posts have been moved by the "preferred partner", in a way that CHAR could not afford to ignore. It likely involves future prospects as Jimmy mentioned, as well as access to the North African pipeline to Nigeria. All in my opinion.
Risk ending up with nothing unless management get commercially realistic and stop faffing about.