Member Info for BouncyDeadCat

They just don't.

The proof is the last 12 months.

The money they've been consantly raising is just enough to keep paying their inflated salaries and corporate lifestyles, they certainly haven't been using investors money to drill or flowtest.

I actually think they would be happy for the SP to drop further, below 1p and then maybe they come in with a buyout and asset strip what's left giving investors a hobson's choice of 'Either sell to us on the cheap or we put the company into administration'. Either way, management will end up with the assets at knockdown prices. AP has been a terrible CEO and has overseen complete destruction of Chariot. He failed at Petra and he's failing here too.

Nelsonthedog,

In the RNS, they mention the return of licences, along with percentages thereof. Nothing more than licences are mentioned as part of the subsidiary so there is disclosure. Do you really believe, under the current circumstances of Chariot running down to a zero cash balance, to then receive a significant amount of cash as well as the return of the licences, they would leave this vital information out and instead choose not to inform the market?

I find that very hard to believe.

If Char had received a wad of cash as well as a return of the licences, the SP would have moved significantly higher. I can't think of any reason not to inform shareholders that you've avoided bankruptcy. Saving the blushes of Enog is a fanciful excuse imo.

Nelsonthedog,

It's fine to speculate, but within the realm of reality. If Char had received any material amount of cash from Enog then they would have to notify shareholders. Withholding information that is material to a publicly traded stock is illegal. Any kind of cash payment made to Chariot would indeed be material as they're currently surviving on vapour. Therefore, we can only conclude that, at this present point in time, Chariot has not received any significant cash payment from Enog.

I think the best one could hope for is that some type of cash settlement is currently being negociated on between the two entities and something may be announced in due course. A negociation doesn't require public disclosure.

You're guess may turn out to be correct in the future, but as it currently stands, if Char had received any significant amount of cash from Enog, the SP would have moved considerably beyond 1.6p.

Gooner,

Unfortunately not. I sold as much of my bag as I could above 2.145p, but then the SP dropped again and since then I've been trapped with the remainder. Hoping for a rabbit out of the hat in order to offload the rest but not expecting much as this BoD is woeful and I've completely lost trust in them. Will dump what I have left if/when the opportunity presents itself. I'm hoping Chariot has one last pump left in it.

Anything material. Chariot have very little cash left and everyone knows it. Even $1m would probably be considered material at this stage as I think Chariot would even struggle to raise $3m in a share placing if/when it comes...

If there was any cash in the subsidiary that was being passed back to Chariot, then this would have been highlighted in today's RNS as cash or lack thereof is the most important and pressing matter concerning CHAR shareholders.

Withholding such key information to spare ENOGs blushes is nonsense imo. For 2 reasons i) this would be material information being withheld from shareholders. ii) ENOG will have to publish the loss of any cash contained within this subsidiary in their income statement anyway.

The Guardian. Lol. Kinda proves my point Starbanker. The Guardian is a radically left publication that believes in a high tax socialist society and all kinds of other nonsense. You will get their narrative, not the 'truth' per se. As for that still-frame photo of Elon Musk that they've placed next to a far right extremist, it's all narrative. I saw what Musk did in real life and in real time during the inauguration, he put his hand on his heart and then thrust out his hand from his heart to the crowd as if to say thank you, he did it twice, to the audience in the front and to the audience at the back. At the time I didn't think anything of it, but the next day there was this narrative driven by the leftwing press that he'd done a nazi salute and they had a precise still-frame shot to prove it. I thought to myself, wow, that's not what I saw with my own eyes whilst watching it in real time.

You give me any gen X man or woman, black or white whose family originated from South Africa and I'll be able to link them with some people who were connected to the apartheid government in some way. If you actually care to look at the people who work in his companies and who get paid big salaries, they're all different colours and all different nationalities.

I also reject your 2 pole conclusion. It's over simplified. An informed person can agree with reducing the size and reach of an over-bloated, over-spending government (DOGE) whilst still opposing the willful killing of a population.

Starbanker,

The new law is not just about redistribution of land. It includes all property and assets. If you don’t believe in the concept of property rights, then I’m not sure why you would be an investor, in anything.

Why would the taking of property from a black person be wrong, but not the taking of property from a white person?

If you believe that people of today need to be punished for the views and behaviours of their ancestors, then you're more sinister than I thought, this new law isn't just about land, it's anything a white person in SA owns.

And this has nothing to do with Trump. As a world leader he became aware of the situation in SA as it worsened. I’m not a fan of Trump, I cringe every time the guy opens his mouth, but to call him a white supremacist is to be woefully misinformed. Trump won the Black and Hispanic vote in America, which was a major contributing factor to his landslide victory. I don’t know the type of media you tune into, but whatever narrative you’re being fed – it’s completely false. A white supremacist wins the majority Black and Hispanic vote!?? Yeah right, make it make sense.

Elon has more foreign nationals of all different colours working for his companies than most S&P 500 companies. The difference between him and forced DEI policy, is he employs people based on merit rather than race. If you actually listen to what Elon Musk says instead of relying on a certain media interpretation of what he means by what he says, then you would be aware that Elon is in favour of more immigration into the US via the H-1B visa. i.e. controlled immigration. The difference between immigration via the H-1B visa and how it was previously being done is that H-1B is purely merit based. As most of the best engineers are currently coming out of Indian, this would also mean more brown people entering through merit.

Most of the people I meet who are of a different race or ethnicity, don’t want to be handed opportunities like a form of charitable donation. They want to compete fairly based on what they have to offer. It is usually the lazy and inadequate that wants to be given positions they haven’t earned.

As for South Africa’s approach to the ICJ, there are strong accusations being made that Iran paid South African politicians to get involved. It does seem somewhat strange how passionately South Africa, who has had little to do with Israel or Palestine, suddenly takes the lead on this issue. Socialist politians love taking big bribes, so it does make me wonder if they were paid to act in the way they have.

https://www.dailymaverick.co.za/article/2024-01-25-iran-fund-south-africa-icj-israel-palestine-fact-check/

Not sure how South African businesses could remain competitive on the global stage when they have to give up what they have to a politians cousin.

Spent a lot of time in Malawi, Zimbabwe and SA in my 20's. I saw firsthand how Mugabe destroyed Zimbabwe and people with money left the country. When it became apparent what the regime was all about (the seizing of assets that ended up in the hands of people connected to Mugabe), foreign investment also packed up and left. Being forced to give away assets that you've either legally purchased or worked hard to acquire without receiving compensation really does mess with incentives. All the productive people end up leaving. So the government printed money to try and fill the economic void. It ended in hyperinflation, mass corruption and lawlessness and still hasn't really recovered. SA is starting to play out in the same way. I hope the regime gets overthrown, but it's actually looking more emboldened. There's still hope things can/will change course, but not much.

Surety,

Their support won't last. Supporting such a regime will quickly become untenable. South Africa has become Mugabe 2.0.

ObsCure,

The situation in South Africa is changing. It doesn't matter that Chariot was forced to give away 51% of Etana a few years ago and you deem that okay - the law has changed again. I think some Chariot investors need to wake the F up and smell the coffee.

These are the people who are in charge of South Africa now. They're not even prepared to rule out the slaughtering of white people.

https://www.youtube.com/watch?v=_D9CFwJJl8k&ab_channel=AfriForum

Bold, that doesn't stop them from taking the proportion that is white owned. Since Etana made that deal to give away half the company, the law has changed again (for the worse).

Like the other BoDs, AP gets free shares, but not enough free shares to equate to 8%+ of the company.

He divested his stake in Chariot into Westward Investments in about 2014 as I recall. Obviously it was a much larger percentage of the company back then as the shares have been diluted multiple times since 2014.

I think it's more likely that AP has 8.2% which includes his Westward stake (where he's the owner). plus his personal stake (he gets lots of free shares as part of his salary package). imo.

When a country gets overtaken by thugs, it becomes univestable.

All foreign investment, in whatever capacity, pulls out.

I don't think any value can be ascribed to Etana at the current time.

An important video (9 mins long) that explains the expropriation without compensation law that got passed in South Africa 8 days ago. It can remove any property from whites without any just reason and without compensation. Beautiful South Africa is very much on the road to becoming a complete third world basket case.

https://www.youtube.com/watch?v=e2w-I_IdTa8&ab_channel=TheRubinReport

Surety/Surfit,

Chariot IPO'd on 19th May 2008 at £183.5 Million and AP personally held over 20% of the company. His personal holding was transfered to Westward investments (which he owns) in about 2014 I believe.

When Chariot was 10x the price it is now, AP owned 15% of the company. Now he only owns 8% of the company, even though it's 10 times cheaper.

I think that tells its own story.

Starbanker,

Morocco still respects property rights.

If they cease to respect property rights, then they will go the same way as South Africa, Zimbabwe, Somalia and all the other failed states.