Member Info for BouncyDeadCat

"I've had a word with admin and it wont take many more trolling posts for a permanent ban so lets just hope he continues"

Haha. No you haven't.

You need to be careful with all this perpetual lying kingbilly. It's getting out of control.

Nickshaw,

I think we may be talking slightly past each other and agree in-part.

It's not about blindly believing the company per se. RNSs do have legal standing as well as legal consequences if proven to be deliberately false.

I have said before that it’s not beyond the realms of possibility that the BoD are lying to us or even stringing us along on half-truths, but if I personally subscribed to or believed that (as some who post on this BB seem to), I would have sold up and moved on by now.

If you look at the event timeline Chariot put out in their investors presentation a couple of years ago, yes, it has shifted slightly, but still they have executed on all but their final few value triggers. History shows that, up to now, management has been true to their word if not their optimistic timeline (small oil & gas E&P companies can rarely, if ever, execute within strictly defined timelines and one should only invest in small E&P companies on the understanding of this).

In terms of the 2022-2025 timeline value triggers they set for themselves and disclosed to the market: They told us they would get Anchois’ resources independently verified, they would complete FEED on Anchois, acquire a new gas resource venture, partner on their Green Hydrogen project – all of which they’ve done.

GSA, Debt Finance and FID left to accomplish in order to get to First Gas. Yes, these are arguably the biggest hurdles of all and one would imagine if/when they come, they would need to come in quick succession of each other as all 3 are dependent on each other. Even on the value trigger timeline they put out in May 2022, they have FID complete end of 2023 and first gas sometime in 2024/25.

So based on the above reasons, I don't have any historical reasons to disbelieve Management when they say they are in the final throws of partnering which could mean 3-4 weeks or 3-4months. But does it really matter if it's a few weeks or a few months?

It's kinda funny when you see the same idiots on here complaining about missed timelines also complain about the company not giving them exact dates on when certain decisions will be made by even though the company is just one party amongst several negociating parties. And they do this without the slightest hint of irony.

The company has told the market that FID and financial partnering are underway and the conclusion of such is imminent.

The company have informed the market that they raised $19 million 2 months ago.

To start discussing how many years & months this $19 million raised two months ago will last to keep the lights on is to completely disregard the entire investment thesis of Chariot and to completely disbelieve what the company are reporting.

If you don't believe the company are really in the final throws of financial partnering you should get out now. For doing due diligence on the current cash position to justify staying invested because you don't believe what Management are telling you is completely irrational.

It doesn’t matter if there are 6,9 or 12 months of cash runway left on the current balance sheet and working it out would be a pointless exercise because you’ve already been told by the BoD (and legally binding RNSs released by the company) what their plan is and that they’re in the final stages of concluding FID with their chosen partners.

And to claim you’re just doing some financial due diligence is completely irrational at this stage, for to start working out how many years of cash the company has left to keep going is to not accept what the company have told you – in which case – what on earth are you doing staying invested in a company when you don’t believe a word the management are telling you? No amount of due diligence on current cash position is going to be worth anything if you fundamentally don’t believe the company when they’re telling you that they’re in the final stages of financial partnering to develop the huge gas asset they’re sitting on.

Happy that Chariot are partnered with a super-major on it - yes.

Happy that they have assessed that the pilot project is progressing well – yes.

Some on this board come across as if they could do with a little more happiness in their life :)

What will really make me happy is an Anchois announcement on partnering – which is hopefully coming soon :))

Again, from the half yearly report:

“The partnering process has taken time due to the high level of interest, but it is now close to a conclusion and we look forward to updating the market on this as soon as we can. Securing a partner will be key to further de-risking this project. Getting Anchois built and into production is our top priority."

:)

Again, from the half-year report...

· In partnership with TotalEnergies progressing developments at three key projects in Africa:

o Tharisa - 40MW solar project in South Africa

o Karo - 30MW solar project in Zimbabwe

o First Quantum Minerals - 430MW solar and wind projects in Zambia

· Operational Essakane 15MW solar project at IAMGOLD's gold mine in Burkina Faso continues to perform well

It's Chariot who are happy with how the pilot project in Burkina Faso is performing, try reading the half-yearly report Fernan.

"Our Transitional Power business continues to develop each of its mining related power projects and the operational Essakane solar project at IAMGOLD's mine in Burkina Faso is performing well. Tharisa is moving closer to construction with the environmental authorisation now granted and an EPC contractor identified. As one of the first independent projects of its kind in South Africa, the Buffelspoort solar project has received notable support from the Presidential Commission and has met the criteria to be recognised as a 'Strategic Integrated Project' in country. The solar project at the Karo mine in Zimbabwe and the solar and wind plans at First Quantum's copper mines in Zambia are at earlier stages of development but continue to move forward with the potential to be of equal importance in these countries."

BDC

He/Him.

Fernan,

I called it utter carp that you called investors 'hostages' trapped in a stock they can't get out of when the truth is; you're free to leave whenever you want :)

My suspicion is that you've already left and are just here to try and cause a bit of FUD. I'm not sure why anyone would stay invested if they felt like you did about the company and/or its CEO. Any normal person would be long gone!

Surfit,

I don't see the renewable arm as a gamble. They've proven the concept. The report on the 15MW Essakane solar project at the gold mine in Burkina Faso is that it's performing very well and they have 3 more projects being built out to replicate its success. Two at 30-40MW and the latest one which is significantly bigger at 420MW in Zambia, which proves they are scaling that business up as they've told us they would.

Re: The Mauritanian hydrogen project - Yes, I agree, it's speculative at this stage, but all they've agreed to is; to conduct an in-depth feasibility study and to participate in some collective R&D with other organisations and businesses over the best suitability of technology for such a project. If/when the time comes for real money to be invested in the Hydrogen project then I think Chariot's role will be to provide the required green electricity generation from its renewable business (see above).

Placings; I agree, it's not a sustainable model and I don't expect it to continue as a strategy for funding the company ad infinitum. If the deal on Anchois had been done by H1, I don't imagine Chariot would have had to do the latest placing as I think there would be significant back costs due as part of the farm out deal for Anchois. I think everyone has been disappointed over the deal for Anchois not being done by H1 of this year and that's why the SP is where it is. AP explained what caused the delays in partnering at the AGM.

Revenue from Anchois will be a couple of years away. However, revenue from Loukos will possibly come a year or so sooner. Onshore wells in Morocco cost approximately $3 million each and the well sites in Loukos are also much closer to the gas pipeline network infrastructure than the offshore deposits are. If Chariot were to get $20-30 Million in back costs for Anchois, plus what they already raised in the last placing, then they would have enough to develop Loukos into a revenue-generating asset. Once they get Loukos up and running then they have decent revenue generation on a go-forward basis.

Trading electricity has little to no cost associated with it as the infrastructure for delivery is already built. They need decent busniess relationships in Africa (which AP has in abundance), a governement licence (which they have) and some decent software, but the main ingredient is how well-connected you are to serve the sector.

If you need the investment case explaining to you, then it begs the question; what on earth are you still doing here? Yes, many idiots.

Major Oil & Gas giants are being transformed into energy giants. Whether they like it or not, they are being forced into new (greener) sources of energy production by the nation states in which they operate. Smallish wind, solar & hydrogen projects are being bought up by the super-majors. BP recently paid $1.1 Billion for a 50% stake in an Indiana wind farm. Total are the 6th largest energy company in the world and Chariot have been partners with them on their renewable business (solar & wind) for the last couple of years. Towards the end of last year, Total became 50/50 partners with Chariot on their hydrogen project. To have such a close working relationship with a super-major energy company can have many benefits in all aspects of the busniess. AP has already stated that when the time is right, different arms of the business may do better as separate entities. Clueless PI's who like to 'armchair quarterback' (the idiots as you say) aren't going to be the people who decide when the right time to separate off these smaller entity projects will be.

& if you don't like the strategy of partnering with super-majors on other projects outside of O&G, then you're free to leave whenever you want.

You buy electricity at price A and sell it at price B. If you buy it cheaper than you sell it for then there's your profit. It's not rocket science.

& if you're able to sell green electricity for the same price as others are selling brown electricity - then you'll probably garner more customers as that's what the market has more of a preference for nowadays.

Read the RNS Fernan. They aren't trading electricity for the sheer fun of it!

Hostages!?!? What utter carp! You're free to sell up and leave anytime you want.

If you're not interested in any other revenue streams, then you're free to sell Chariot and buy a gas-only stock.

You can sell anytime. You can sell your entire stock in the next 10 seconds if you choose.

There are plenty of gas only plays out there if that's what you want.

Why anyone would believe an anonymous poster on a public bulletin board over the CEO and BoD of the company itself (who are liable for prison time if they purposely lie to the market) is beyond me.

Of course, an anonymous bulletin board poster who spreads fear, uncertainty and doubt has no such liabilities.

Just saying…

Whimax,

Probably, as that would be how the MM would make the most amount of money out of the order flow it buys in (via the spread). Presumingly, the MM makes its money via the spread and the 'free' trading platform makes its money from the commission it receives for providing the order flow to the MM.

Padfoot,

Not at all.

Your quibble was that we didn't know if the company was anywhere nearer monetising it's asset, which was factually wrong. Hence why I laid out the progression towards monetisation for you and why I said your problem wasn't with the actual progression of the asset by the company, but because of the price of the stock. I can't lay it out any simpler than that and if you're still unable to grasp it, then that's on you.

Yes, the market isn't valuing the progression the company has made to realise the value of the asset and will likely continue to not value said progression until the final stages, maybe not until partnering or maybe not until they start laying pipe.

Chariot are sitting on an $8 billion+ asset and are valued at under £130 Million. People can either build a position and wait or sell or trade. I don't really care.

Is there a chance that Chariot have done all of this work progressing this asset for it to just remain in the ground forever more? I guess that's possible. Although with Morocco and Europe desperate for more gas, from a reliable, cost-effective, friendly source, I think it unlikely.

What's really not helpful is insinuations that the company has been lying about the progress they've made thus far or that they're lying about the numerous interested parties that they're negotiating with. I think that's all done in bad faith by people wanting to cause FUD (Fear, Uncertainty & Doubt).

These modern mobile trading platforms are usually zero fee for the end user which encourages trading.

Whimax,

A lot of the traders who are going to trade on hunches don't use a typical broker. They use mobile trading platforms like eToro, Robinhood, Trading212 etc. These platforms don't execute individual client trades, instead, the trading platform sells those orders to market makers which pays the trading platform a fee for directing the order flow their way. A MM trade will usually go through as A rather than O and will usually bunch the trading platform trades together.

The people who trade on hunches probably aren't typically great traders and probably aren't the ones making any money.

Very few people who try their hand at trading ever make any money at it.

Padfoot,

You're classifying lisiting RNS's that the company has publicly released as ramping now!?!?

Lol.

Grow a brain lad.