focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar 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.
"mentioned a few weeks ago here" ... yet only one post for this account?
De-ramps often have a basis of real information but with distorted conclusions to suit the agenda. I feel this is one.
I did mention a few weeks ago here that there would be a raise and I got turfed off the board as if I was de ramping the stock.
I also said at the time that this would strengthen the company’s position in any negotiations.
And I was told was this was lies.
I know that the company have been discussing this with investors since February and it is disappointing that investors like MrFlipFlop May have been mislead.
I do feel that the raise is positive but I present such an opinion with a caveat.
All this coming to fruition is conditional to a psc being granted.
I am aware that the meetings and presentations in London last week were extremely brief and opportunistic while the Premier was in the UK for other reasons.
It will be interesting to see if Petros have enough confidence in the executive team at Upland or not to grant the psc. I am reliably informed that a lack of a very strong executive team at Upland is a reason for Petros delaying the granting of a psc.
It is a most pointed omission by the company of anything relating to the psc in today’s communications.
4th April the company said it was “ in the final stages of deliberations on the psc award or framework”
It will be interesting if this £3.3m is in the company’s account or not today or is the investor getting a free bet in the hope that the psc lands in advance of the shares admission to the market next Tuesday ?
It seems most unusual that the institutional investor was not clearly named.
I’m staying, I bought way back, I’m in substantial profit, I can afford to loose but I am suspicious. I feel that there is a lack of transparency here and the company’s communications are over promising rather than over delivering
This was a very shrewd move by the board. This holds great promise, glad I'm invested and good to see backing from institutions as well.
The percentage of the PSC that UPL can retain in farm out discussions at this stage will affect all future valuations of the company - which is why it’s worth injecting the money on to the balance sheet now to maximise position in negotiations. Big difference between saying “we need your help to drill” and “we are drilling, so if you want part of it how much will you offer”.
Placing discounted at 3.3p to make it attractive/worthwhile for those putting up the money. Management were buying around 4p in January.
I don’t feel like that is exactly right but i understand why you would say that…….if someone is willing to give you 4m as an investment surely that is with a discount? A month ago the share price was at 3.15 so the price agreed is above that but actually we now have 4m capital in the bank….if you borrowed this money it would have interest on it circa 8 - 10 % so surely 4m investment is worth a discount to put the company in a stronger position. Institutional investors are in here to make money so 3.3 will be long gone in May. This is a positive place to be at 3 .5 - 4 p a share😁
By making a placing at 3.3p the company has valued itself company at that price, so that's where it ends up.
It's a case of toughing this out if you're holding - painful day on paper though!
Can now cjm - they’ve since they slightly increased the ask 👍
Bought £5k worth at 3.5p no issues at 08:07hrs
Can’t by any at the moment. Maybe a fault with II but will take a dummy sell.
Can sell a few mill at 3.454! most theyve ever wanted to take. Someone else is mopping them up for incoming news in days / weeks
Top a roonie time today if we dip
3.3 is a 15% discount to 1 month vwap of 3.9 That’s exceptional for a company who have yet to sign a PSC.
Only 7% dilution and hopefully the investors are in for the big prize. Not raising in desperation to keep the lights on. Far from it the raise moves us along the path nearer to glory
They can spin it how they want but a placing at 3.3 is what it is. They had previously said they were well funded and they provide no explanation for this fundraise unless they now believe that they need to convince others of their ability to carry this through. That leads me to believe that their position is not as strong as I had hoped.
Cannot affect the 'dilution' by definition but might help to reduce the negative investor response.
No mention of PSC development.
Out with rns to try and keep the dilution of share price to a minimum.
All explained this RNS -
https://www.londonstockexchange.com/news-article/UPL/historical-block-sk334-data-confirms-prospectivity/15935731
@jack — Hahahaha.. I see your level of comprehension nicely displayed. No offence
Preaches context and does not know what it means..lol
Calls an item lies and does not do enough research first….lol
GLA..
Absolutely follow the money....
My take on the RNS is that it is a huge net positive.
To push forward with SK334, we raised small amounts at 0.25 and 0.6....and then 4 million at 3.3p... and with key institutions, not retail investors.
🔥 A huge week with meetings with Sarawak Premier in UK.
🔥JV and LOI... & now funded to "go it alone" if needed, to retain & return serious value.
🔥 Rig secured.
🔥 Every raise at a higher level than before.
🔥Key Institutions on-board.
https://twitter.com/bigguyad/status/1784155505717346744?t=dKWEjPk5Lbc9Ur9FXZp2pw&s=19
So you just read ‘fully funded’ and ‘well financed’ and ignored the rest of the context in the sentences. You’ll never make5mil if you lack basic comprehension. No offense
I might look daft and sound even dafter but with a PSC pending and coincidentally everyone one who is seemingly involved in the project just happens to be in London for a trade delegation. Yeh right. Where are the pics of meetings with other potential investors. Keep the faith guys. Roll on Monday 👍