Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. 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.
IMO I can't see a "no deal" scenario arising. We have had (at least) three site visits with each site visit team signing off on the assets and recommending to proceed. MC has a weekly call with Hannam & Partners after which he briefs the other directors, so is pretty much running the sales process as much as H&P.
No deal IMO means Condor MUST get financing quick sharp for the mine build or more than likely will lose the permits as the gov want the mine built asap, so there will be a deal as there are serious parties involved in the process that have done their DD. I don't believe either JM or MC have the stomach to go for mine build, I think JM especially wants to cash out here so they will take the best deal they can get. I expect the amount of time being taken is due to ongoing negotiations between MC/H&P and the various interest parties, but that's just a guess on my part.
I won't make a prediction re price as I don't believe the SP has ever really reflected the value here, and the assets will sell for the current fair market price - and we will find out what that is once the sales process concludes in due course.
If MC is to be believed, he has been very confident that the sales process would be concluded this year (which makes me think that is the H&P timeline), so we should be seeing binding offers appearing in the next few months. I can only hope that this Christmas will finally be a happy one for Condorians, we shall see!
I wonder what the record is between announcing a sale and finally concluding it's time to knock it on the head. I'm guessing the investment bank conducting the sale process must be getting peed off since they vast majority of their earnings from this is conditional on a sale.
Seriously though tweeting stuff rather than announcing formally on an RNS is out of order...
Yes please Johngle ;-)
Broom, I think the term is fluffing.
Ddd, fair post. Again out of interest to get 60-65 p what do you expect the offer to be and how much expenses and shares ? What are your thoughts on 15% tax? To get 60 p I reckon that would mean an offer around £200 m and I just can’t see it. I hold 4 uk producers and they are all around £100 m. I would love to turn my 22 p shares into 65 p but cannot see how it can happen but will be extatic if it should come to pass. 80-£1 is just fantasy land imv.
Have had a little add this morning tho.
Dictum - I’d agree with your ranges but all this tweet nonsense is only a distraction and I’m not sure it should be done during a deal but I’ll wait on the old RNS
80p is my guess
A late financials RNS and an opaque Xweet does make it a more interesting Tuesday than usual. If you are an optimist you take the view that it means a deal is in the bag and that's why the financials are being delayed - so that mega news can be released at the same time.
On the other hand we have just had a long weekend and the financials are only slightly delayed vs. last year. Also, the bag and handshake might just mean that we should just wait a bit longer for a deal to arrive and an agreement to be made i.e. just wait for updates on progress. It could be just to allay the general frustration that we all now have.
It's a coin toss on what the situation actually is. It will keep me keeping an eye on Condor's feed for the next week or two, but I certainly haven't concluded that we are there yet.
In the meantime I've seen all sorts of estimates on what the share value equivalent of an asset sale might be. My take is that we are currently trading below balance sheet NAV and that 35p - 45p would be a miserable return on time, money and effort. 60 - 65p is still my best estimate with 80p - 100p pretty optimistic, but not completely out of the ball park.
It will be hard not to say something price affecting when the financials are released, even without confirmation of a bid (or deal), so this week could be pretty volatile on the share price. However, given the slow trading we might have to wait a bit longer yet. The market doesn't seem to have sniffed much out yet.
Stay tuned folks!
Frenchie, just out of interest,what would be the offer made that would return 60 p to holders in your view?
Surprised this hasn't risen strongly today on the back of Onion's emojis. Either he is taking the blinking diss or news has to be close!! Fingers crossed we get out of this mess with a profit. GLA
Pdp, I think rns should be released pdq if a binding offer received. Not sure about regulations regarding imojies tbh .
Seems quite leading, but not put a rovket under us yet.
£0.60p would feel like a lottery win Frenchie!
Are imojies legally binding ?? 😂
Yeah, cheers Seingred, break even would feel like a victory!
12 Concessions, 3 permitted pits, potential for more on the upside; I’m going for 60p minimum. I know Seingred won’t attribute any value to future potential, but the fact there are still a number of interested parties, one will make an offer that will include a premium.
Connect, only my guess and hope for more but that’s my guess but as I say anyone can vote against an offer recommended by bod but I think it would be pretty futile, and unwise. As I have said before, it is better to be pleasantly surprised than unpleasantly. Good luck and hope you do manage to break even .
I'm thinking 40p
Pdp1000 yep, unless it is code for a briefcase full of cash being handed over
Hi ISA, I know but "int the bag" and "shaking hands" - is pretty strong message I think.
No one said a deal had been done, until they have a binding offer in their hands they can’t state anything!
Can’t wait for Slim to go back to school…..
Very surprised no RNS this morning if a deal has been done. How long do they have before it has to be reported?
Oi oi 🧳🧳🧳🧳🧳🧳🧳🧳🧳🧳🧳👀🤝🤝🤝🤝🤝👀🕺🕺🕺after all that it’s onions suitcases for he holiday in the USA payed for by condor
Odd really, tbh I would be ok with 40p although I could understand long term holders being frustrated if the haven’t traded!
It does however put an SP of under 24p in perspective, we are saying 40p is madness but still gives any trader a 60% profit hmmmmm
£0.40p for would be a horrible five figure kick on the cahonas!