Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I like your logic!! I think Jack may have a point though asking why they are finding it hard to raise money. Also, can't they just tap into Sprint capital venture capitalist firm if the prospect is so good? However, I'm not so sure of a relist being so "South" as Jack says. GLA
...."shortly" this time in the RNS. It must be a sign.
San Leon Energy are drilling the same structure. LSE removed the hyperlink...
I understand that Glencore are the JV partner on the Boujdour permit with a 38.25% working interest and are also the operator. They would not be involved unless this was highly prospective/strategic from their point of view. The Moroccan Government owns a 25% working interest. Also http://www.sanleonenergy.com/home.aspx are currently drilling the same structure onshore.
Not a clue on when they may return to the market, but I reckon when/if they do the sp will be well south of 12.50. Jack
meant to say not a producer, instead of producer- anyway exploration!
......it does seem to be a very good target, however I am a bit worried about funding, can they get it? Any way I am now in ATISHA's camp with the positive thinking. If it goes ahead and as we know the target is a producer, where do you think the SP will be on re-listing and when do you think they will re-list?
Don't want to appear to be negative (it's hardly been my way on here for the past few years) or #iss on anyone's chips, but we were advised in the previous RNS that they were looking for funding. Some weeks have passed since then and they appear, still, to be devoid of a financial backer. If the target is so good, and that does appear to be the case, then the problem might be that the composition of the Board and Execuive doed not instill confidence in any suitors. I'll hope for the best and plan for the worst. Do you think they read this board. Strange timing. Jack
You don't seem enamored?
We were suspended with no news of an acquisition. We are now suspended pending a possible RTO and a great acquisition. This is simply great news if you're already invested and thought you might lose the lot :)
"The Proposed Acquisition is conditional, inter alia, on Xplorer raising additional equity finance for which there is no certainty that the Company will be able to conclude successfully."
We are not folding so i see this as top news.
............it's still a GOER, RNS!
Update on Acquisition The board of directors of Xplorer (the "Board") is pleased to announce it has today signed a memorandum of understanding (the "MoU") for the acquisition of a significant working interest in five shallow offshore exploration permits off the coast of Morocco (the "Proposed Acquisition"). Xplorer has negotiated the acquisition from Teredo International Limited ("Teredo") of Teredo Morocco Limited, which holds a 36.75% working interest in the Boujdour permit ("Boujdour") in return for Teredo being issued 56% of the post-Proposed Acquisition but pre-fundraising enlarged share capital of the Company. Boujdour consists of five shallow offshore exploration permits off the coast of Morocco. Boujdour is prospective for both oil and gas, and is estimated to have mean net un-risked prospective resources of 463.4 MMBOE (millions of barrels of oil equivalent), of which 31.07 MMBOE are categorised P90 and 182.65 MMBOE are categorised P50 (Source: independent resource report produced by Sproule, a Canadian based oil and gas consultancy, dated 31 March 2014). The Proposed Acquisition is conditional, inter alia, on Xplorer raising additional equity finance for which there is no certainty that the Company will be able to conclude successfully. The Proposed Acquisition, if exchanged and completed, would constitute a reverse takeover ("RTO") under the Listing Rules. The Company continues to be unable to provide a full disclosure under Rule 5.6.15 of the Listing Rules at this time, and thus the Company's shares will remain suspended. Appointment of Joint Broker The Company also announces the appointment of Smaller Company Capital Limited ("SCC") as joint broker to the Company. Through SCC and its own efforts, the Company is intending to raise pre-RTO funding of up to £300,000 through the issue of convertible loan notes to assist in progressing the Proposed Acquisition. Full details of this capital raise will be provided shortly once it is finalised. It is anticipated under the MoU that a further fundraising will be undertaken concurrent with the Proposed Acquisition, further details of which will be provided at the appropriate time.
RNS OUT
is this good or bad ?
Or what might come out of the red?? And yes - GLA
You never know what might come out of the blue.GLA
Sorry Fret, wish there was something positive I could say. Keep hoping that someone will post a reply telling me I'm talking garbage and just to wait a week for some great news. Failing that, I'm stuffed big style. Jack
Is it really as bad as that? I keep feeling like I need to keep hoping, as there is nothing much else I can do. I'm like you - over invested and if I start to really consider what might be the reality, it will indeed be a bitter pill. Life changing, in the opposite way to how this was supposed to be life changing. I'm not linked in to the news like you appear to be - so have always eagerly anticipated your posts. What happened to the latest 'relisting soon' development?
I hope that you have changed your broker.
Feel for you mate never put all your eggs in one basket but I normally do good luck
Getting a bit late in the day for this dog. Best to start thinking about writing any investment off. A particularly bitter pill to swallow in my case. Jack
is there any time limits for news
Not really. Each time I hear something, it's a completely new twist on the last bit of news/gossip, so anything I/we say at the moment is total guesswork. In my opinion, I don't believe the Board of XPL know what they are doing; apart from clutching at straws. Think we just have to hold our breath and hope they pull a rabbit out of the hat. GLA Jack