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Was a good call, ignore price reaction, no one is day trading this. They are waiting for the tier 1 finds. And Anglo will do this quicker, more efficiently and cheaper than we could.
Will be interesting what They do with the cash and there focus will be on Botswana and all of another opp comes by.
I liked the bit about the share listings we got from Casa deal, looks like our value has appreciated already.
Surprised Peggy/ China blue was not on the call
‘Odd not off
Hey Wiley I think so too, but my opinion drill plans would be high level or none whatsoever.
I think they may bury some bad news , if there is any. Botswana has been a quiet front, would be nice if they announce boosting drilling on that also.
Investors day would be good
No they don’t but they have that as a deadline and it’s an off one so they have till COP on Friday.
Let’s see what happens, I’m not expecting another extension tbh, if there is one someone will need to explain. This really feels like they are close but something had taken a little longer till they like.
Major-Tom agreed, I asked about thoughts also. How quickly and how much Anglo will do, I’m sure targets are set and seen they had a team a few months back with vasilis in the same pic looking at samples.
Both parties do not want to hang around, Barclays came out with an interesting note on Anglo valuation without copper.
There are many ways to fund a mining project and sure Rene talked about this in one of the investor calls, or it was with another company.
Arc believe they have a number of Tier 1’s here, assuming we call these multiple assets we can secure funding in debt markets and the time we do, it will be more stable than the world we are in now.
Also with copper in demand due to EV the price of copper will help support valuing any sites IF and WHEN they are found.
Botswana is years behind, but Zambia is key. Personally if we elect to sell a stake at a higher valuation as posters have mentioned, we could be left with 1 -10% and that is still a lot of income.
With out new cash, I’m expecting a big push on Botswana by our directors and good acquisitions.
Personally I hope we drill like crazy next few months. Lost time due to covid and silly legal cases against Arc.
Would like to see progress in Botswana and potential other sites brought into the fold, with cash maybe good opp to buy more sites.
Would it be a bad idea if we bought into asiamet? At this time? Or is that too expensive.
Reasonable extension, personally RNS should have come out yesterday but just before open is fair.
Good progress so far just closing out paperwork now.
Does anyone know realistically, if this is done, drilling in Zambia would happen straight away? They should have targets and geo thermals to target areas.
ID78 how many deals do you see get done on Friday?
Also it is tomorrow, if it’s held up by Zambia they would already know that. Last minute approvals internally in Anglo could hold up also.
Anyway we are likely have to wait a bit longer, at the moment it feels like no signature by tomorrows deadline.
But happy to be wrong, GLA
If we don’t hear by cob today I am entirely sure it would be looking at another extension.
Feel the company know the date could not be met they should announce that already, leaving it last minute or after the event is not great PR.
Things can be outside of their control abd will be interesting if we get an extension how long for, going by last months RNS it felt like we were close so no more than another month. If they extend further they may have to explain why their planning was off in February.
With an RNS earlier this week of someone leaving, I do not think we are that far now. It has been 3 years in the making.
SS17
JW make a lot more in revenues, their backlog is much better, they need better margins and acquisition can help with efficiency. Debt is good that this includes ythe SFO fine already been paid out and no further liabilities, they can put this in the past now.
PFC have failed miserably with pipeline, historically. Bidding opps yes plentiful, that can be said with other companies who they are competing against, they need to really convince they can turn around these tenders and not sacrifice on margin.
PFC will be a takeover target at what price and when, is anyone's guess.
It was handed to the SFO after an australian journalist provided evidence, Ayman was a large Tory donor and close to Cameron, there has to be some guilt that was conclusive , it embarrassed the Tory govt then( But not much to embarrass them)
Do not really know much about him to really form a judgement, but usually it is his experience and contacts they are buying and anything transformative/efficiency savings he can bring.
Not sure he is being brought in to then sell the company up, Ayman is under water and definitely wants to see value here again, losing his billionaire status.
Sami had a great background, but he has not really made any impact here (but not his fault as Covid was in the middle of his tenure) wish he stayed to make a bigger contribution. But I am presuming after the SFO they really need to build up their middle east relationships to win friends.
Poker
That is true, forgot about a horizontal acquisition from a company who has no gas and oil exposure.
I was going to buy Kentz years ago, but instead went with Petrofac, Kentz got acquired in the end. Consolidation in this sector probably serves all parties interest, than someone like Mott though.
https://www.energyvoice.com/oilandgas/middle-east/307264/petrofac-suspended-from-competing-for-adnoc-contracts-amid-sfo-investigation/
Actually thought Haliburton or Slb (Whatever they are called now) would buy them out. I think the business is cheap someone from america will look to buy them out. They can not be trading as a standalone business, and with commodities prices increasing and new oil being invested in, this has helped those companies with strong balance sheets.
Petrofac used to have a very good balance sheet, before the mess that blew up as i outlined on a separate thread.
Let me make it clear here
SFO news broke out share price was badly impacted, new deals were suspended in certain jurisdictions upon the investigation. Took a couple of years and was found guilty (Links below)
Before that, they expanded and built an IES business, timing did not help with the shale v opec price war that caused the under investment we now face, but there were deals in that contract that did not help.
JSD6000 was a failure another new business service they looked to get into and failed miserably.
Laggan Tormore was a great success also wasnt it!
So where am i factually incorrect here as you wanted to put it. Yep I knew this business very well and lose interest after the SFO, as i said it looks cheap now, but there is a reason which i have outlined and expanded for you.
https://www.sfo.gov.uk/2021/10/04/serious-fraud-office-secures-third-set-of-petrofac-bribery-convictions/
https://www.energyvoice.com/oilandgas/middle-east/307264/petrofac-suspended-from-competing-for-adnoc-contracts-amid-sfo-investigation/
Poker I had been a holder in this company In the past and it has been a huge strategy mistake.
They were going places but SFO did a lot of damage. The value of the company is cheap, entire management and directors need rehauling. Getting rid of Ayman, Was a good start