Member Info for Bbiguana

I’m not sure how many have previously seen this but Shell are also taking legal action against the Tunisian government for about a billion £.

Shells arbitration case against the government relates to 2 gas field licenses where the government appear to have obstructed.

Sound familiar ??

That newsletter make for a welcome read.

This Week’s RNS

Update on Offtake Financing for the Azteca Plant

The offtaker has completed commercial sampling of tailings, returning 54% and 56.7% Fe (median ~55% Fe).

These results are in line with expectations and support the ongoing offtake-financing process. No further sampling has been requested, and documentation is now progressing.

➡ Read the full RNS

What It Means

Confirms key grade assumptions for the Azteca Plant

Supports commercial due-diligence and financing discussions

Allows progression into documentation with the offtaker

I'm with II and can't place a trade for this stock.

Having just called them up to determine if there is a problem with their system, as to why I can't purchase stock, they informed me that II have taken the decision to remove Defence Holdings from their tradable list as the company no longer meets their standards. They will honour any sales but will not allow for any purchases. They cannot disclose further as to why they have made their decision.

Interesting but equally of slight frustration.

Make of this what you want and DYOR

I think we could see the solar side of the business actually become quite valuable.

As well as being cash generating, with the Italian ban last year on new solar developments on farm land then those large scale solar farms could potentially command a premium as a business. Just my thoughts.

@interestking and @in4cedros many thanks for the responses.

I’ll be dipping another toe in

Many thanks for the reply.

I was keen to work out a non speculative, as we are currently valuation, prior to selling off Columbus.

At present its fair to say all the speculative value of licences is not priced in but Columbus assets are.

Therefore my Thinking is along the lines that if Columbus is sold with a direct payment of only $2.5ish mil once completed, forget all future payments, the loss of turnover will immediately be factored in to company valuation.

The sale will be completed prior to any drill and exploration works.

So will we see a further erosion of share price, and a potential better entry point and opportunity to average down, or do we think the sale is already priced into the share and current price is as low as it goes ??

For clarity I have been invested here for around 10-12 years so my holding is now worth significantly less than the original 20k investment!!

So here is a question for you all as I’m struggling to work out the numbers.

Anyone have a best guess as to cash in bank?

Anyone have a best guess on turnover without the T&T (Columbus) operation being included ?

Trying to work out a fair valuation of CEG once Columbus elements are sold. Upon sale we would only $get 2.5m so that would be added to cash in bank but turnover would decrease substantially, as would asset valuation.

So therefore what is a fair share price valuation on what would be a near non-producing shell company.?

Any thoughts would be welcomed.

My average here is over £2 so the outcome won’t make much difference for me but could do for other.

All the best

Hopefully KDNC won’t suddenly announce they have invested into Lenigas’ new venture. Although it wouldn’t surprise me if they did, all being mates etc.

It’s not like Donald Strang can be believed either, given all his previous howlers when involved with all the other lenigas companies.

As mentioned, it would also appear the markets and correspondents were in the dark on these events just last week when everything looked more buoyant.

This just feels like REM and early KDNC all over again, buying into random private companies where the buy in then values the private company well beyond what it should be.

If the investments were in proven reserves and resources, where commercial production was already happening then that’s fair enough but this is going to be another long term play.

I’ve been invested in this company through its varying evolutions for about 16 years and now have nearly nothing of my original holding value left.

It seems that all the Aussies in this friendship group are poor at managing companies to actually make a profit for anyone other than themselves.

Probably any other board would have been able to make a better job of Amapa and not given away, through unwarranted low value placements, most of our company.

KM needs to provide some clear explanations and come good quickly to recover this s**t show.

And now we know the reason for the price drop

3.78p last trade price so looks like this morning’s traders are cashing out. Hope not but…

I’m at 63p average from way back when.

Always think about topping up but can’t bring myself to add more.

Last price paid is now showing as 4.2 so hopefully that is just a momentary tick down

My ii account is showing 4.4 as last price paid. Wait for the next spike up

I think all of us long term holders have suffered massively but unfortunately that is done.

So long as the board have learnt and can bring the changes to get the price back up then that’s what should be focused on.

I need this share to get to 2.4pence to break even so I’m here for a while yet!!

Total production and administrative are only 182k Canadian dollars lower than for 2022.

Interesting that the PPE production that Zen were boasting of is still listed as an asset with the line that management use their judgement in assessing the carry value.

Basically zen never sold any and now seem to be stuck with it.

Annual statement also reiterated that fund raising to occur following year end as part of USA acquisition funding.

Before continuing the arguments you probably should read the annual report rather than going by Andrea’s press release statement.

So as to be transparent, here are facts.

Revenues up by a significant amount.

Production costs up, more than doubled.

Expenses up.

Fund raising by way of placements 19.1mil which is also up from the 15mil in 2022!

Cash balance marginally up by only 1.4mil.

Administration costs significantly down.

My thoughts exactly. Did the 100k top up this morning as a way to lower my average, hopefully to benefit from any price rise.

Literally nothing priced into this share.

A good interview, spelling out all the possibilities for significant company growth and re rate of the share price.
Thanks for sharing the link