Member Info for Bridgedogg1

I think this will be one of those rare occasions when the SP rises on a cash raise. It does happen and in this case will facilitate very near term cash flows that dwarf MCAP.

I doubt very much there will be much, if any discount given at the next raise. The level of discount on a placing is determined by a number of factors, here I think with the strong chance of near term cash flow/share price increase from the immediate project, that has already been largely financed and derisked, with a NAV way above the current MCAP there will be someone who is just happy at getting a chunk at market price. If a raise does come it wont be for much, hence the market didnt react when the extra authority meeting was declared.

Quite a few here who are not invested are deliriously happy that a placing has been signalled pre first gas as they hope they can get in at a lower price, or atleast wont miss the boat. They are worried this will shake off fears and begin to realise true value before they buy. Waiting is a risk now IMO

The hedge was required to get the project financing. 70% of projected production with 5 months leeway built in. Not quite the sword of Damocles then?

TK doesn’t need the cash because nothing is happening, cash raise is for the £1m paid to directors every year, even that’s not covered for 2022.

Agree with both. Angus has the potential to be 4p but won’t get there until gas is flowing, bills are paid and salaries covered. KOD is the new UKOG of AIM, way overvalued with investors that don’t understand the underlying asset/project. Good to make a quick chancy 20% every now and then though. Here the Twitter pics and progress on other projects are giving be HOPE that value will realised. We know a cash raise is likely in Jan, the market knows this and PIs are always moaning they don’t know in advance so there you go. The market hasn’t dropped us as a result so should be ok terms with near term cash flows anticipated. Still a gamble but big reward potential for early movers.

If the mining make minister decided to not extend the deadline (for the nthteeth time) then it seems there are a number of much better capitalised companies willing to work with them to get this off the ground. Extension is no longer a rubber stamp imo. Need to start looking to Saudi for value now, hopefully with the latest raise we can start paying our way and not reducing our share by 10% at every missed cash call.

Injecting Lidsey water into Brockam doesn’t seem to have been rejected, it’s just not part of the authority. Assume this can be applied for separately and don’t envisage there bring an issue considering that they don’t have an issue with the Brockam water into Portland .

“ In conclusion, the scheme granted permission under prior approval ref. PL/0052/20 in 2020 was considered to result in no important landscape or visual effects that would result in unacceptable changes in landscape character or visual amenity. The reconfigured layout will also generate a similar magnitude of impact, within the negligible range, such that, overall, the effect of the proposed changes as a result of the reconfigured layout will be comparable to or less than those under prior approval ref. PL/0052/20.”

The similar IGAS application that went to planning officers took less than a week for approval. Meanwhile I assume operations continue under prior approval as seen on Twitter pics?

Without the increased authority meeting I think this would have been motoring ahead today. Well the market know now and has priced it in. If we can get gas as planned and 30% non hedged from June then this will be a cash making machine.

IN

I'll wait til 0.5p to average down

Very cynical multiple RNS in lead up to placing

Italy has a number of ICSID awards against them that they are refusing to pay and continuing to dispute via the courts. Im not saying RKH cant monatise an award in some way nut its not as simple as winning anf getting a cheque.

“ We will immediately put £60m of equity back on the balance sheet for a start.”

If we were in anyway close to this we wouldn’t have just given away a third of the company at a major discount

Only £500k raised for working capital so not enough?

The salary for the senior team is over £1m. I mean what the actual..

Fk a while fking duck, the one day I’m not at work so miss a mid market rns. A little bit more than ‘tidying up’ when you need to raise that much. Signal too that no chance of financing in January, feels like this is preparation for dropping TK.

So it’s estimated 30% unhedged production. If a cash raise is to get the sidetrack going ASAP then that’s immediate cash return to Angus prob couple months return on capital at current gas prices. Absolutely no problem with that.

You are missing the point. I said KEFI is only a matter of time. For TK there are still risks, we could lose the licence, though unlikely. Once the extension is agreed, or even financing before the end of jan then massively derisked on TK. I was a bit skeptical about Saudi but now see that we are really lucky to be a part of this project and group. Moving very quickly, hopefully we can get TK cash in so we don’t have to dilute our share of the project any further.

Kefi is no longer a bet, just a matter of time

There is no way to fairly value KEFI because the risks are so high. Clearly Saudi is pretty stable and developing but needs the Pre feasibility study to excite market.

• Market capitalisation is c. US$15/oz-equivalent on current JORC resources, with significant additional resource potential
• Market capitalisation is 7% of NPV8% at current metal prices, pre-updating Hawiah MRE
• NPV8% represents 14p per current shares in issue at current metal prices