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Not paranoid, just wondering, as a long-suffering shareholder that you claim to be; Why don't you go to the AGM and moan and vent your frustrations directly at the BoDs?
It would seem strange if you don't go there, when you're here everyday, moaning and complaining about what they are doing and how they are doing it.
Outside of a few billionaire investors (who have done the work and have taken a decent chunk of the company), hardly anyone else has crunched the numbers, because hardly anyone has heard of Chariot.
Wider market recognition of the asset and its value, probably won't come until a much bigger company partners with Chariot and starts talking about the huge Moroccan gas asset it has farmed into.
$9 billion revenue over 10 years is based on the value of gas they have already found (0.65 Tcf) and that revenue needs to be split 3 ways (Chariot, ONHYM and farmin partner). However, Anchois is likely to be much bigger than 0.65 Tcf and with a farmin partner, there likely comes a new drill program. There are other sizeable low risk prospects within the wider Anchois/Rissana Licence that have high COS.
Kingbily/smyth (same person as always post within minutes of each other),
Why don't you go to the AGM and moan and vent directly at the BoDs?
Each broker will give a different allocation of 'additionally applied for shares' to their customers depending on how many of their customers opted to purchase additional shares above their set allocation.
This is because all individual customers shares will be treated as one block/pool of shares under each broker (allocation).
So if Halifax had less customers applying for additional shares, the customers who did apply would receive (proportionally) a bigger allocation than a customer who is with a broker who had more customers applying for additional shares.
N.B. The probability of success for the targeted Loukos prospects are higher than they were for the Anchois 2 drill.
Whingers are always gonna whinge ¯\_(ツ)_/¯
Whimax,
Yes, it's a risk. But the possible/probable upside probably outweights the downside by a significant margin. Anchois could be 7Tcf, which is big.
Loukos is in the same basin as Anchois, has the same geology and is at the same depth.
And let's not forget, Anchois was also an 'overlooked' asset when Chariot first took control of it.
If the onshore drilling of Loukos were to be a failure, then I guess Chariot will have to do a deal on Anchois as it is now. 0.7-1Tcf.
Surfit,
I've been thinking about that and for 70bcf, I think they could probably build their own smaller onshore processing plant.
If they were to get $40-$50 million in back costs from an Anchois farm-in, that would probably be enough for 4 producing wells and a small processing plant onshore.
I think they're going to move very quickly on Loukos. They appear to have been studying the data on it for quite a long time and there are onshore rigs currently available in Morocco.
Whimax,
We'll see.
If they were to announce mobilization of onshore rigs next month for subsequent drilling the month after - as an investor - would you be prepared to wait a bit longer Re: Anchois partner news?
The 3-4 wells that Chariot will be drilling in Loukos will also de-risk some of the high-probability, but as yet untested resources that Chariot have identified within the larger Lixus licence block.
Which ties in with my theory that this raise was necessary in order for Chariot to ultimately keep a larger stake of Lixus.
If chariot drill Loukos this year and don't announce a partnership on Lixus prior – then I'd say this theory would be pretty solid at that point.
https://stream.brrmedia.co.uk/broadcast/64bfd25bbd4f8d76ddc59eb9
PI's subcribe for double the amount of shares on offer under the placing.
Kingbilly/Smyth is the same person talking to him/herself.
Kingbilly 👇
Making a negative observation about a company action and then trying to understand the timing of that action isn't whinging Smyth.
'Whinging' would have been repeating my surprise & annoyance everyday ad nauseam.
There are some who come on here and whinge about the same things 5-6 times per day everyday. Yourself included.
If I had more than a couple of 'surprises or annoyances' over what the company were up to, I'd just sell up and invest in something else 🤷♂️
ICB888,
Whingers are gonna whinge.
They whinge when there aren't as many institutional investors holding as they would like, and they whinge when a seasoned institutional investor steps in and buys a massive chunk of the company 🤷♂️ 🤷♂️ 🤷♂️
Indeed Gooner. He's run the numbers and he's come to the same conclusion as us. Chariot is way undervalued based on the Anchois asset alone. I don't think people need to overthink it, Askar Alshinbayev just has a lot of conviction on Chariot.
He's bought in at around 15-18p.
Rest assured - He's here to make money on his stake in Chariot. Lot's of it.
It's why he bought the stock.
Askar Alshinbayev is a very serious commodity investor. He's spotted the same opportunity many of us have been discussing this last 12-18 months.
"partnering is important because it will help us to fund the project while minimizing dilution at the parent company level. And we hope to announce something on that soon".
I still, very much think this raise is because of Anchois negociations and how they are progressing.