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From Berny advfn The savvy will be able to read between the lines here to see how advanced GTW really is in terms of project delivery. NUOG informed the market on 12 Jan that it had entered into a collaboration agreement with Siemens. "This commitment by Siemens to project evaluation and design will be critical as MFDevCo finalises its assessment of the technical and economic feasibility of selected projects and provides the independent verification required to demonstrate deliverability to both partners and investors." Today's rns re Marnavi SPV states: "MFDevCo will offer investment ready projects, along with commercially viable development plans, to the SPV, which will have the right of first refusal." "MFDevCo is concentrating efforts on the two priority GTW opportunities where discussions with operators have advanced quickly so far. Efforts to establish the SPV and Einar's appointment are designed to ensure financing is available to conclude Heads of Terms. Negotiations between MFDevCo and operators are ongoing, the Company will update the market with further details if and when they reach a material conclusion." From experience you don't go setting up companies on a formal basis unless you are sure you have something concrete to do with them. That's the last piece of the jigsaw, an administrative and legal formality. It's clear that together with consortium partners Mfdevco has now settled on a couple of initial GTW projects which are investment ready and is putting into effect the legal structure under which they will be able to secure finance. Although the market hasn't exactly been wowed by the news it is a very important step forward, perhaps the biggest one so far, in the development of GTW. The bonus for Nuog shareholders is that it is being done without dilution to us. It's also important to bear in mind that the negotiation of the terms for the two GTW projects won't be slowed down or halted pending the setting up of the SPV. The workstreams will be running in parallel because clearly the SPV will need to know the exact proposed contract details beforehand in order to approve the finance. All in all it appears that things are more advanced than today's rather restrained rns suggests. With Brazil also simmering in the background we could be in for a great few weeks and months ahead.
Eh Eh ... while the lunatics continue to take over the asylum over on advfn, let’s spare a thought for all those who can’t buy 100 quids worth at the moment.. NTNTNT
Oh well.. can’t buy 100 quids worth at the moment. Anybody for baseball?
No, it’s Bernie’s twin brother... there’s more curve balls then the Yankees pitcher. Conversion? I know what I’d tell him about converting down here.
Wouldn’t rule out a curved ball
Interims this week? So maybe news beforehand
Oh yeah... off course
Don’t ask any of the regular doom and gloom derampers.. it’ll be CON
Irrelevant.. bids rising asks rising.. just games with the spread
Bencher lmfao
Good fortune to you LB, you deserve it
Lol Woodstock, can’t beat a bit of research ( courtesy of blue on the other channel )
Taken from takethat ( hope he/she doesn’t mind ) From Align Research " There are also a further 21.625m warrants issued with a strike price of 2.46p." "The next week will be key to see the conversion notices and volumes converted into stock by EHGOS (and their resultant stock holdings thereof). A drying up of liquidity and back to 0.25p is the last thing they or the new Executive Board want to see from what we can see. Once we get through the 15th March the 0.25p conversion option (ref last 15 days lowest VWAP closing price) disappears and dilution (pending the share price over the next 7 days) levels diminish. WE ARE BUYERS SUB 0.5P." The RNS means Align can now start buying again without crossing the 3% threshold now that more shares have been issued. Seems plausible
ALIGN?
For anyone interested.. Just had confirmation from Brad that seller almost gone.. Welcome news, along with board trading halt. Good news to be announced? Hi xxxx At this price I would hope retail investors see opportunity. There has been a large holder of stock who has not been communicating with us who has been selling. I don’t believe they have any material quantify of shares left. Regards Brad
Courtesy of Jo Sharbail.. Thank you for your email You will be aware that I am not able to directly answer many of the questions you pose below. Within the Sintoukola Basin, Kore now has multiple Potash deposits that as you point out do present exciting development opportunities. The Kola deposit is a large potash deposit and the project was designed as a large project. From the PFS work, shareholders were informed of the scale of capital required and the likely timeframe to finance and construct . The DFS has confirmed the capex and timeline and we are waiting for the EPC proposal from the French consortium. There is a possibility that a smaller project at one of Kore’s other deposits could be brought into production significantly faster than is possible at Kola. Work is progressing to understand these options. I agree with you that the current share price seems to present a great buying opportunity to retail shareholders. I cannot comment on the drivers for Director’s investment decision making. I am sure you are aware many of the Directors are shareholders , some with significant investments in Kore. Kore Directors have to make decisions within the law and the rules of the stock exchanges on which we are listed and these do place significant constraints on their behaviour with regards to share trading. The Mining Convention, which is a contract between Kore’s RoC subsidiary company (Sintoukola) and the Government of the Republic of the Congo provides for the Government to have 10% ownership of the project. Two Special purpose vehicles have been established in the RoC -one to hold the Kola Mining Lease and one to hold the Dougou Mining Lease. In due course the government will be granted 10% of the shares in these SPVs, and Sintoukola will hold 90%. Your point on marketing is well received. In many ways the DFS was an impediment to marketing while the company awaited its finalisation. You have seen us finalise the DFS, and in parallel, delineate a new deposit and JORC exploration targets as we ensure we understand the strategic options available to us. Work is underway to ascertain whether any of these options present an opportunity to fast track Kore into production while we progress the planning of Kola. It’s important that we receive the EPC proposal and improve our understanding of the best pathway forward to production before making new commitments to shareholders and increasing our marketing of the Company and our go forward story. The Sintoukola Basin has world class potash deposits You may not be aware , but this area of the RoC previously produced more than 400ktpa MoP for export markets for many years. I am confident that this basin will become an important producer of Potash again. Regards Brad Sampson
https://www.youtube.com/watch?v=0wzLUyFBCvc&index=26&t=102s&list=PL5zLWMpFfFgo0nSGWAlsV177Lbg4T931U Not Vast, but still valid.. hopefully we will get some PR our end
For those investors who couldn't attend the AGM, I look forward to sitting down with our new Chairman to discuss @Nuoilandgas for our latest podcast. #NUOG Simon Bycroft
Seadog, I hope you’re not in any way suggesting that NUOG has a more than fair chance of closing one of the deals it has been working on with the aid of the billion dollar Consortium. That would definitely not suit the pessimistic but predictable narrative of the naysayers here and the mentally challenged morons on advfn.