Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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*they
Have that got a few spare rigs to drill some fooking holes in the ground? Only way this tur-d will float upwards is finding more pay dirt....sort it out GL you were doing so well until you dropped this news....
PNE - You are not the only one.
There are a lot of people scratching their heads with this at the moment.
It makes no sense at all to me.
Lets hope things become much clearer (very soon) regarding Grahams intention's and long term aspirations with all this.
I'm slightly perplexed by this offer at this time, with the position we are in. Maybe the Q&A will shed some light on it but for me I'd rather we concentrate on what we've got on our plate.....Its seems academic anyway as Angus are not going to find those terms anywhere near acceptable.
'Turning Hostile'....could be just 'hot air'.
Angus Energy PLC (ANGS)
1.15p
-0.05 (-4.17%)
19 Jan 2022, 09:54
"It's turned 'hostile'...with five others in contention....What does Graham see in this that we don't?"
I don't know.... but if it's turned that hostile, then someone will just hoover up shares and force their way in, fortunately,we can't afford to do that, so time to stop wasting precious time and resources on this and let it go.
I’m sorry, I read only the sale part of Paul Forrest’s declaration. He still has 13.5mm shares in Angus, slightly more than he sold.
ARGOS may be a better option. Plus they have free pens.
Well, Paul Forrest, the sole Director at Forum Energy Services and SEL, the latter the re-named Wingas, which sold the Saltfleetby field to him in 2019, and of which he then sold 51% to Angus for £1, has sold the great majority of his shareholding in Angus. On the Angus chat site, someone is saying he’s not an insider! That’s funny, he’s a big shareholder in a private company whose address is the same as Lucan Fashion, and in which Tidswell and Carlos Fernandes, the Angus FD, are also big shareholders. At the time they did the original Saltfleetby deal, Angus’s office, and his his were in the same building in Chiswick. He owns 49% of the Saltfleetby project. Not an insider?
Don't think that's quite the case. With 5 other potential investors (possibly with much deeper pockets) expressing an interest in Argus, but time will tell.
Eileen13: no, I agree about Angus. It’s likely that, with Sound Energy being the senior partner on the new platform, the Angus Directors - and Jonathan Tidswell - would be be surplus to requirements quite soon after the deal and Saltfleetby were completed. Not at all what Angus wants.
Yes, good luck to all investors in both.
Whatever happens, best of luck to both shares and all LTH'S
Don't worry about it - I have been in both both Sound and Angus for a few years
Angus wants no part of this pathetic offer from Sound.
What does the genial Malcy mean by “provide a platform”? It seems a lot of shares to issue for a platform. These companies need cash flow, not a platform and a Sound Energy share issue for Angus shares doesn’t improve either company’s cash or earnings position (at a time when Angus, at least, really needs more cash).
These companies are in business, however, not for shareholder returns but to keep their Directors in very gainful employment. Being seen to be doing something gives the appearance of competence. So even assuming, following a successful takeover, that the combined new company with its “platform” manages to retain ownership of Saltfleetby, shareholders shouldn't expect dividends. Profits from Saltfleetby, if there are any, will all go in some further speculation intended to keep the ball rolling and the salaries and emoluments paid for a few more years. I suspect that we all know this but that residual hope and/or greed prevents our admitting it to ourselves.
Malcy mostly parrots the RNS as usual, but adds: "There is nothing to disagree with in putting these two businesses together, both sides have good quality assets and combining them would provide a platform despite being on different continents. A rough 60:40 split would give both existing shareholders a realistic stake and dependent on management a platform for growth."
I still don't get it. SOU's assets would seem to be worth a lot more than 60:40 compared to ANGS. I also don't see how an all-share deal for another cash strapped company advances the prospects for Phase 2 funding. ANGS has the prospect of shorter term cash flow from Saltfleetby, but like SOU it has a large loan note to pay off, and raised a piddly 750k to keep the lights on just before Christmas with a 10% equity dilution. Just not seeing the benefits either short term or long term, and folks on the ANGS forum don't seem too impressed with SOU either.
This sounds like another sidi moktar all over again. The ratio is fixed so even if sound shoots up ANGS will get the same number of sound shares.
Let say we fly up to 10p. That is going to make the offer very tempting for ANGS and pretty rubbish for us, because the ANGS shareholders will Dump them as soon as they get hold of them just like pertromaroc did. That screwed us for months and months.
History repeating..
'I hope the proposals fall through.'.
https://www.lse.co.uk/news/SOU/angus-energy-refuses-to-budge-despite-sound-energy-circling-915vwwwk23vbsba.html
It's turned 'hostile'...with five others in contention....What does Graham see in this that we don't?
irrespective of the tax bill, why are we offering a 115% premium for a company THEY want to sell because they obviuosly can't make it work.
f'ing millstone, I hope the proposals fall through.
On the Why topic
I find it interesting that Echo throw a similar curve ball yesterday (I've post the same thing on Echo's bb) We all know the connections.
Both are in a sticky situation at the moment, Here the TAX issue and Echo keep saying they are carrying out workovers in the ways of bring Closed in wells back online. But there the production figures are falling back. Their work over program doesn't seem to be barring the fruits.
So lets just throw something out there as a bit of a distraction. IMO
Most of the Q n A will be asking this question.
We have an unsettled tax bill ,we have 1.6 billion shares in issue,we have zero production ,we dont have a lot going for us at the moment that is solid income, discoverys or not .The size of Belgium area that we own the rights too is not a attractoin imho , Ps breaks it down perfectly with his/her zero value on Phase One so why is Lyon goin g for a relative tiddler and issue god knows knows how may more shares if thats the way its going to fall as if he doesn then my slice of the pie will be wafer thin .Lyon hopefully knows something we dont as other wise hes just as full of it as the previous wasters and we all know how brown their eyes where