Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Interesting the company have set this up. Worth checking to see what is possible for those wanting an exit.
https://jpjenkins.com/global-depository-receipts-unlisted-gdrs-now-trading-at-j-p/
Company had no obligation to do this so I wonder what the rationale is?
Thanks for sharing Troy. It could be that they're just being nice, or perhaps it's to create an opportunity for the BOD to buy up cut price shares that people have become bored of holding. If anyone does obtain a sell quote for a reasonable number of shares I'd be interested to know what price has been offered.
Np Bismarck. Did you manage to attend the AGM? I couldn’t get my act together in time so if you did join great to hear thoughts (or anyone else still reading this board).
No I missed it Troy, although from reading the transcript I doubt we missed much.
Agreed. Only upside of attending would be to take advantage of any opportunity to put some questions to the board about the development timeline, funding requirements and how they meet them and how pipeline construction progress is opening up new markets for sales (and where are those sales).
Next year!
Been doing some sums based on Stocko numbers which should still be relevant up to delisting date, but will not have been updated.
Book value $85m
Book value PS $0.714 (or about 57p)
Wouldn't be unreasonable to expect a divi of 3 to 4% of current book value eventually so about 2p/share. Of course if they grow to become a major shale producer you'd expect to have to wait longer for it, but could be a lot more when it does arrive. Keep fingers crossed...
Agree that a divi is a little way off yet. The company have stated that are looking to invest around $2bn in expansion capex over the course of the next 3 to 4 years so would be a timeframe after that for any cash returns. However also book value will increase significantly also not just with the investment but also the return on this investment.
Seem to remember company saying that this year they would invest in maximising output from existing wells. Next year they plan to invest in pilot testing for shale and beginning to expand cbm well count again - suspect they would aim for around 40 to 50 new cbm wells in 2024. 2025 would then see another 50 odd cbm wells and hopefully some shale gas production towards the end of the year. All the cash generated from increased production will be needed to finance another potentially 200 new additional cbm wells and expansion of shale gas in 2026 and 2027 I suspect so maybe a small dividend in 2028 as capex requirements begin to decline and cashflow increases significantly.
I’m thinking though that GEEC has relisted by then in order to tap public markets for the scale of finance needed. Unlikely to be a UK market listing. The US is probably where they get access to a significant number of investors who are still prepared to invest in growth oil and gas plays and know how to value them. Shortly after that I’m predicting that GEEC are bought out by one of the neighbouring O&G companies producing from the Raniganj field. So we’re unlikely to ever see a dividend from GEEC as someone wil have paid £5+ for each of our shares Bismarck before the company get around to paying them.
Well I hope they can pull it off. I'd be delighted if they re-listed then got taken over at anything >£1 / share
I note that the company's data has now been removed from LSE and there are no results when you insert the name in the company search box. The only way I of returning to this chat appears to be by using the direct link https://www.lse.co.uk/ShareChat.html?ShareTicker=GEEC&share=Great-Eastern