Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Very easy to get funding ? Even Deltic are saying in the RNS they dont know if they are going to accept the liceneses
Now itβs very easier to get funding for company.Great achievement.
CEOAdam, yes, unless theysort out Pensacola, there is no point. Simple.
It's not over yet though. The market has assumed Pensacola has been lost. An assumption rather than a guaranteed outcome.
Strong reversal time.ππππΌ
Maybe a placing coming
Why get these new licenses? They can't fund Β£15m for the biggest North Sea find in years.
Boom
The majority of licences awarded in Tranche 3 of the 33rd NSTA Licensing Round are mainly focused on gas extraction and are located in the Southern North Sea.
Deltic Energy: 43/2b, 43/3b, 43/4b, 43/9, 43/14a & 47/5e, 47/10c, 48/6c
I got the impression that Cluff is out of Deltic shares or if he has a shares, it's not a lot (less than 5% for sure).
Cluff and Spencer clearly doing business together. If Delt fails, I can only assume Spencer will be a very unhappy bunny and it may impact their relationship. After all he has in good faith put a fair few millions in, although it is small change for him, of course!
https://newzwire.live/meet-the-two-british-aristocrats-targeting-one-of-zimbabwes-biggest-lithium-assets/
Unless he ( Algy) has done a private deal with his friend, Michael Spencer, he still holds stock here. Algy did a private deal with MS just before he retired. He exercised options which he immediately sold to MS
What happened to Noel? sectioned?
I know we were all shocked by the rns of a few days ago but I still cannot stop asking mysel the question "why the issue was not tackled by a share issue when the sp stood on the threshold of 40p?"
After all Swindell and the board have known for months that we would have to stump up the funds. To let the company's very existence ride on the possibility of a farm in and not have a plan B, just in case, strikes me as unbelievably incompent, criminally incompetent in fact.
I am still baffled and wonder what Algie Cluff makes of all this.
Getafgrip, that's an extraordinarily thoughtful and insightful post! Thanks! Lots to reflect on.
Dr, totally agree and to be honest all North Sea producers are in a death spiral if they don't replenish their reserves, no matter what the draconian tax leveys are, they will put then selves out of business, that's why i think a deal will be done, but probably rubbish terms, it also must be that the time frame for Selene whent to the wire
1. Investors are obviously concerned due to Deltic's history etc.
2. Pensacola is still the biggest North Sea find in a decade.
3. Deltic owns 30%, Shell 65% & One-Dyas 5% - will Deltic give away this share? The answer is no!
4. Shell may well be concerned about the PR aspects of how they deal with partners.
5. Graham Swindells is under an obligation to communicate major dynamics of the business operations to shareholders, particularly when they could have a significant impact on the share price - and he has done this!
6. Has he released the information indicating that no deal is likely in terms of the FO of Pensacola? Has he done this with the full knowledge that it would be very harmful for his FO negotiating stance! NO! He has highlighted the risk associated with a NO DEAL scenario!
7. Do Shell want to develop their very successful partnership with Deltic further? It seems very likely they do!
8. Shell has announced that it will be actively considering a New York listing to give true value to its shares, if things do not work better with an LSE listing. They will obviously not be content with the EPL and Regulatory environment in the UK! Could Shell have persuaded Deltic to raise the critical issue of the EPL starving the North Sea players of capital to the extent of derailing their involvement in the North Sea? Raising this issue has massive importance for all North Sea operators and prospective operators!
9. Deltic may well have a Farm Out agreement in place, but not technically signed yet! If not they have failed catastrophically, but I think the current situation is simply extreme brinkmanship in the negotiations!
10. There may also be something missing, or that has come to light to prevent the commercial exploitation of Pensacola, but this seems unlikely given Shell going ahead with the lead on the project!
Think about it! In essence there are only two outcomes from Graham Swindell's announcement! One is uncertainty of the successful FO causing the SP to fall off a cliff & two is the platform provided for GS to launch a blistering attack on the EPL and Regulatory environment, undermining Tory & prospectively Labour policies in this area, as we head for an Election!
PL thanks for sharing.
I would normally have looked forward to such an announcement. Today, not really.
If DELT cannot get their sh&t together, then it is 100% pointless to win another licence, as otherwise Selene will be the only project they will ever monetise properly (the current business model will be dead if they cannot sort out Pensacola). Still worth more than the current sp though.
DP, I hope I am proved wrong as invested here more than 5 years ago and only kept the faith when Shell appeared .
I believe History repeats itself and Leopards do not change their spots.
Many AIM Oilers are rarely for long term Investors but good good for Traders. Have seen it time and time again.
I did sell 1/3 so I'm just a little underwater I unfortunately didn't account for a drop like this worst I thought 30p level it will settle before news. I had a oversight there but I live and learn
FD20, your views have always been respected and duly noted, although we have not always agreed.
Since I bought my initial stake a couple of years ago and up until 2 days ago, I could only say that everything was going to a reasonable and positive plan. Two drills lined up and subject to funding both, the only way would be up for the sp. Now it is TBC. I sincerely hope you are not right, I hope you don't mind! However, if you are and things starts smell foul, then I will capitulate and join your camp; even Cookoo's!!
I am firmly holding, as my logic is similar EmeraldCarrots'. Selene on its own will be worth more than 40p; if Pernsacola gets a deal, both together will be a lot more than that subject the good drills.
Said on April 3rd 2024 and i quote
. Our attention is now firmly focussed on drawing the Pensacola farm-out process to a successful conclusion and we look forward to updating the market in due course." Was he lying or what ? surely in 4 weeks after long negotiations thinngs can't get as bad as the picture painted on Tuesday.
Lots of big buys at bargain price but stingy AIM as usual with no share prce rise. Cheating huns.
Whenever news is good Mr Swindell goes on various sites and explains the details. His last one re f/o to Dana he told how he was actively engaged with various bidders for the next f/o. Bet he doesn't come on to tell us what went wrong.
One would have thought. We will see. Like the odds and potential 100% plus profit myself!
All IMHO.