Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Fascinating chatty. The stock launced in Dec 21, rose on debut then slid eternally after that.
I'm sure you can reference the RNS that you're chatting about though?
Porky9 if you know anything about the history of this company over the last 2 years you'd understand what a pathetic whinge that was from someone who clearly gambled on a high risk stock and was clearly backing the Directors at the time by putting their money in.
If you gamble, don't whinge. Own your own agency in the matter. It's as simple as that.
I've still yet to see anyone who clearly understands the full story here. I'm sure there are some long term holders out there that do, but are so badly burnt that they just can't be bothered anymore.
So the long and short of your post chatty is that you lost money here?
Last year 18th October, should be an RNS next week to specify the date.
We already know the main data for 2022, what'll be interesting is the contract updates after the closed period. Most contracts are below RNS level but very quickly start to add up. We should get a more accurate forcast for FY2024.
Last 500k @1.19 was my top up. This batch of profit takers seem to have cleared their stock.
Has now been explained by the RNS. But who was selling? and is there any more to churn?
Chain, I posted this on ADVFN on the 31st August, it all still applies..(Although the SAR is actually sooner in October)
"Lauders/Molatov I don't see the long term success/failure of Paradox being up for question really. It will eventually be a success but the question is more when and how ZPHR will get there financially.
ZPHR have hit a bit of a perfect storm lately, 16-2's salt and 36-2's blow out/pipe sticking.
Previously we didn't have to worry as Malcy would point out the co is very thoughtfully placed financially. However the storm is hitting there too with the main Williston drilling interuptions and the Slawson delays.
In Nov 22 ZPHR had $5m newly expanded space in its RCF made available and total debt of $23.8m. Then with the 25% aquisition they took on the $8m bridging loan which Tom Winnifrothed about.
They were hoping that the BL would be rolled into a further expanding RCF at their next semi-annual redermination (SAR) in May 23 but we saw the result, a placing just to cover working capital because of the storm, instead (so all RCF availability used up by then).
(Note that there was no mention of that semi-annual redetermination unlike previous ones)
They now face several upcoming financial hurdles in the next 5 months.
The next SAR in November. The upfont costs of finishing the pipe removal from 36-2 or redrilling. The gas pipeline refurb. The gas plant refurb (with associated share placement). Then they have to deal with the BL expiring in early Feb 24 (secured on the new Williston Wells) when the Slawson income stream will only just be settling in IF everything goes to plan.
Quite the storm. It will be interesting to see if current debt is even mentioned when the finals are out in 3 weeks."
That's the bit.
To me it just smells of cash conservation as they have SAR of the revolving facility in the next month then the bridging loan situation in the new year. All pretty much before the Slawson revenues will return them some comfort.
The real cheeky bit in my eyes is not having the courage to say it themselves but sneaking the change out via TP.
Thanks Adon, it is a strange way to announce a change of plan like that especially when they took shareholders money for it. They really are in cash conservation mode. Don't think it will change anything regarding the second tranche to RSOC though.
"o A second tranche of 26,966,189 new Ordinary Shares will be issued to the vendor upon Zephyr's final investment decision with respect to the contract award to a primary contractor to commence construction activities to make the Powerline Road gas processing plant operational; and
o All equity issued to the vendor will be subject to a lock-up period which expires at the earlier of the date that first gas from the State 36-2 Well is sold via the Dominion Energy Utah, LLC ("Dominion Energy") 16-inch gas export pipeline; or 15 December 2023. "
Ahh thanks will take a look. Interesting that they let a 3rd party announce it as they included the gas infrastructure in the reasoning for the June fundraise.
Adon, sorry where's the ref to the 3rd party processing please? Can't see it at the mo.
NoOneKnows note the word "expects" in "the company expects to recover substantially all costs ..."
It doesn't say the insurers have agreed.
" if they don't secure the support of shareholders to raise some capital" where's that quote from?
This is exactly why I sold out. The risk/reward balance changed and the mcap was looking toppy.
In reality now it's all about those $25m of short term loans balanced against Slawson coming online and the requirements for the infrastructure refurbishment.
At least they say the bridging loan is revolving even if it's @ 12%.
October RCF meeting next checkpoint.
So you want more oil flowing from elsewhere... reducing the market price for what ZPHR ae producing... then you'll buy in??
LOL
The risk/reward balance has changed. It used to be a 'safe' bet upwards.
I agree about the long term, but the selective comms and change in the risk/reward profile have altered things for me.
Fingers crossed for the loyalists.
Was that you selling out?
Aptamers/Optimers, great explainer of capabilities from the presentation last week:
https://www.youtube.com/watch?v=oUYykJ9s5Yw
Ezhik all ZPHR gas output has to be routed through the processing plant first then on to the Dominion pipeline.
16-2 still needs its connection pipe application done let alone the build. 36-2/the rest still need the refurb contract announced.