Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. 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.
Have a good one Callim. Hope the weather improves. Atb.
Conger and Gordon I'm in holiday down in Tenby right now.
So that Plan works for me :)
Most of the market chills in August
We will see
its a marathon not a sprint
GLA
That'll be the 11th September then. Lol.
love it Callum :)
Sell in May and go away, and come on back on St. Leger's Day."
Maybe that's Roland's and Joe's plan ;)
streamlining
Yes interesting. Makes you wonder, if they are streaming things as indicated, why approval is taking so long. Could the reason be at the Oilex end? Atb.
Promising article Callum- fingers crossed
It's pretty obvious from this article that the new minister and the ministry are going to assist oilex in there JV .
Let's hope he means it when he says thing have changed at the Ministry of Oil and gas
https://energy.economictimes.indiatimes.com/news/oil-and-gas/india-seeks-foreign-private-investments-in-oil-and-gas-production/84912691
Thanks for the reply Conger. As you say a lot has happened. Be great if that was right. Guess we'll know in the next couple of months. Atb.
The 30m Target price is based extrapolating information and I am confident it is in the ball park as i suggested a post ownership Asset per share price range on an Oilex call a while back and with out agreeing it, had it acknowledged as reasonable. For that price to be reached it meant Cambay was around £30m for 100% based on the tender offers at the time, i think the top tender was around 25m USD for the 55%.
Anyway a lot has happen since, but this is where i am.
BTW Conger I didn't understand your second paragraph. What's this 30 million target price? Atb.
I do find it very hard to believe that gspc would simply agree to deduct the cash calls from the purchase price given that they were so angry with Oilex they fought to avoid payment for 5 years, in spite of the fact it was small change to them. Doubt we'll ever know the details of exactly how the deal was structured. All academic really. We'll find out what we need to know when the jv is announced. Atb.
Ah yes Conger that 2.2 + 2.8 to give 5.0 total price makes a lot of sense. Atb.
Also a £10m offer with the support of the operator is much better than a £10m without it. The tenders were closed and i think the top offer they got was around 20m USD for the 55%, but because of corvid they pulled out.
I know this as 100% of Cambay had to valued at around £30m UKP for the the share target asset price that was expected.
The other bidders pulled out. and GSPC had agreed to sell, they had too and only Oilex left in the room.
If you take on 2.8m in costs for someone it is the same as paying them. so it is 2.8m + 2.2m + 5m for 55%. ie 18m for for 100%
Agree vf, but as you say they’re cash calls. If I was to pay, I would apply a reduction to factor in the risk of they not coming through. Say shave off 20-40% to factor this in?
None of it adds up tbh
As we’re not producing yet
This is my point as well Gordon, you articulated it better than me!
5mil in cash calls plus 2.2mil paid for 55% Gordon.. would equate to 100% = 13.1mil.
Conger. What I am struggling with, is if there is now someone willing to pay say 10 million for 40%, why didn't they make a pro rata offer for gspc's 55%? Something doesn't quite add up. Atb.
They were the only offer left and also wrote off about 5m in outstanding cash calls, took on 2.8m in costs liability and paid 2.2m and they were only paying for 55%....
Like i keep saying they paid considerably more than the 2.2m headline figure in fact it is 10m USD, at a point GSPC was forced to sell it
Even using that cost for it = $18m USD for 100% of Cambay.
Agree, surely they rather would have bought from gspc rather, as opposed to from oex - atb
No problem Conger. Just hope you are right about what a jv will pay. Not convinced they will pay that much when they know what Oilex paid, but we live in hope. Atb.
Gordon.
4.4M USD is 3.2 UKP but it is Aus $ not USD.. my mistake.