Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Dont let YF Finance (Kazak billionaires who know our Chairman) or anyone else for that matter buy your shares for under 16 p cash value at least
Daylight robbery!
Nothing to see here, move along peeps! :-)
The Russians control this. Surely they have a distressed asset in Mind
Hope Sterling take a look at Deltic Energy. (DELT)
"Soon " wasnt one of their words :-)
Gave me a good laugh that one Rift. Still waiting patiently but they are clearly working on opportunities and that, plus the cash in hand, is enough to keep me here. Time enough.
Some quotes from the results release - "Soon " wasnt one of their words :-)
“Sterling anticipates distressed M&A opportunities to arise as a result of this situation”
“remain committed to executing an accretive acquisition once the right opportunity is identified.”
“We now have in place all the tools we require to be able to conduct a successful transaction over the course of the year.”
CEO Statement (David Marshall)
“During 2019 Sterling reviewed over fifty opportunities, of which 5 bids were placed and a number are still under consideration”
“Sterling intends to take advantage of the current volatile marketplace”
offers and that we would be hearing about them soon. Have I got the wrong end of the stick or are things just taking longer than expected?
Atb,
Northern
I believe a cohort spearheaded by "YF Finance" have been pushing the price up slowly.
Kazak billionaires control YF Finance -
https://www.businesswire.com/news/home/20171027005270/en/YF-Finance-UK-Regulatory-Announcement-Form-8.3
ASKAR ALSHINBAYEV, NURZHAN SUBKHANBERDIN AND YF TRUSTEE (BERMUDA) LIMITED (CONTROLS MERIDIAN CAPITAL LIMITED)
24 April -1st Notification of 3.56% (over 3%)
21 May - 2nd Notification of 4.01% (each 1% therafter over 3 % gets announced)
They have $44.9 million in cash, Maket Cap of $31.8 million and only one tiny exploration asset (Somaliland ) currently that GENEL are carrying them through the phase on so that doesnt consume any cash.
Interest received during the year was $1.1 million
Net cash used by the company in 2019 was only $1.461 million.
They're looking for a distressed production acquisiton and hopefully their large cash pile will open doors.
anyone here got a clue on what assets SEY were looking for? was it covered by cash or were they also looking for a further raise to make a bigger purchase?
https://www.tradingview.com/x/nSvRMJa5/Hoping that channel continues upwards and the break through support is just a blip. F-K typical. Sold ENW to improve position here (I was already in). They are up, this is down. Was 4% up this morning, now 6% off. Couldn't make it up.
and still waiting ......
I see what you mean!
Atb,
Northern
We are a patient crew here Northern!
We are used to waiting. Cash at 16 p makes waiting easy!
some of the bids/offers Sterling Energy has made to other firms?
Atb,
Northern
They have zero percent reliance on Somaliland.
They're carried on it!
They have $45 million in cash. With no cash delpeting assets
Are you YF Finance trying to buy more? :-)
Difficult company to assess
100% reliance on Somaliland exploration is not good IMO
Lack of diversification a concern along with the lack of production
Don’t expect any Somaliland production until 2022 if not later and that’s dependant one results
Interesting. There was funny volume going on for weeks. Wonder if it is to continue?
60% return to cash from here
Deal could be going down, who knows?
Have just upped their stake in SEY to 4%.
Perhaps worth revisiting my posts on SEY/VOG merger?
Someone is buying and setting the bid higher and higher all the while. Buys are once off £5k to £8k buys
Watch this space for a distressed asset deal. 60% return to even cash value.
75,000
25,000
50,000
Someone accumulating over last week or so.
I just noticed the Company Corporate presentation from April 2019 has been taken down and it says "Company Presentation Coming Soon"
They normally dont update it much at all and strange they didnt leave April 2019 up there!
Something could be happening here. Big trade last week
1. Company made numerous statements about doing a distressed deal in last months annual report (30 projects assessed in 2019, 5 indicative offers made of which some remain live
2. YF Finance controlled by Billionaire Kazaks disclose 3.56% interest acquired
3.Massive once off trade last week at 9.40 - £65k;s worth (700,000 shares)
4. Two decent sized trades yesterday at 9.70
5.The Bid remains at 9.70 (Ask 10.20)
This could run back to cash value of 16 pence very fast if a sniff of a Serica style transaction emerges?
Thank you rifteastafrica - very much appreciated.
Some Statements from Chairman and CEO from Annual Report:
15 April 2020: Chairman’s Statement (Michael Kroupeev)
“Sterling anticipates distressed M&A opportunities to arise as a result of this situation”
“remain committed to executing an accretive acquisition once the right opportunity is identified.”
“We now have in place all the tools we require to be able to conduct a successful transaction over the course of the year.”
CEO Statement (David Marshall)
“During 2019 Sterling reviewed over fifty opportunities, of which 5 bids were placed and a number are still under consideration”
“Sterling intends to take advantage of the current volatile marketplace”
considering a number of possible prospects? Have I got that wrong or are the timescales more medium term than short term for finding such prospects?
Atb,
Northern
Someone's set the bid at 9.75 - any volume behind it?
Ha ha ! No stock available folks!
Pay the Ask or get lost!
TICK TOCK
$45 million in cash (17pence value!!!)