Member Info for Candid

Hi Cheddars, all seems to point to the same site and is all part of the same company Netoil Inc Ltd.
https://netoilinc.com/
https://www.netoilgroup.com/

It looks like this is the whole shebang and the only assets they have got are Petrel shares.

Where/when has it been reported that there is a $100m asset?

Looking at Netoil Inc website they do not have any assets, just some vague references to some decades old oil/ gas, hotel and bank projects they were linked to in the 60’s 70’s and 90’s
In fact the whole Netoil Inc company seems to be hanging onto the coat tails of the Petrel shares they own. Something just isn’t right about this whole outfit.

buyers are driving this up this afternoon, can’t find any obvious news, only that BHP are looking to boost nickel and copper production:

https://www.reuters.com/article/us-bhp-group-au-results-minerals/bhp-ceo-says-company-needs-more-copper-nickel-idUSKBN20C014

A Letter of Engagement is normally required before the bank will even start searching for potential suitors as they need to agree the scope, fees and the terms of service in advance.
EUA has not advised the market that a letter of engagement has been signed with either of the 2 banks, the last 2 RNS’s have in fact mentioned that there is no letter of engagement yet.

”The M&A process requires the creation of a number of important documents, including the Letter of Intent, purchase agreement, and non-disclosure agreement. However, the primary agreement document is the letter of engagement, which is an agreement between the M&A intermediary and their client (most often the seller). This document determines the fee structure for the advisor as well as their duties to their client. It‘s an opportunity for the intermediary and the seller to discuss objectives for selling the business and lay the groundwork for the process”

For longterm holders a cash offer of £5m would not be a good deal (for the whole company), although JLP would probably not do it by cash anyway, they would issue JLP shares as consideration.

If the suspension is a result of Hammond’s tweet ‘Citic Merchant has signed a Letter of Engagement with EUA’ this could well be true but probably had not been formalised yet by both parties, so EUA had to suspend the shares until they are ready to formally announce it via an RNS (as it’s considered material news). I’m expecting an RNS stating just that.
What puzzles me is why does it take several months to get to the letter of engagement stage, after all it’s just a legal document that sets out the scope and terms for the M&A activity. If this letter has just been finalised now it means EUA has formally started to work with this bank and this bank will lead and introduce potential suitors. It may still be a long way to go before a potential deal is agreed.

It’s getting interesting for sure and have you seen the alt coins today? Ethereum +13%, Ripple +9%

Finally a breakout above 7.2p, chart looking healthy now, a new run to 10p on the cards

how does Argo compare to Hive in terms of mining capacity, cost etc? I know that Hive mines primarily for Ethereum and Bitcoin as a secondary, so not really a like for like comparison but Hives mcap is now £72m compared to ARB’s £20m

ARB is definitely due a rally, some of the Canadian miners are up 30-50% in recent days and ARB looks like it’s being held back (maybe by the reported selling) . I think only a matter of time before it starts running up

You couldn’t make this up, lol! The letter raises even more questions and doesn’t really tell us anything new about this sorry saga

Good local Oz article from a couple months back, I do like the sound of where this team are heading.
GLA
https://www.newcastleherald.com.au/story/6499951/newcastle-startup-corridorai-moves-global/

Am surprised to see a markdown on such small volume, just shows how tightly held these shares are and it tends to drift down on lack of news.
On the flip side any positive news will propel this higher.

What’s due for the scheduled Newcrest update this week on 13th Feb? Will prob learn more about Telfer but anything new expected for Havieron?

In fact Bitcoin Cash is up around 115% in the last 6 weeks

Crypto’s have caught some wind in their sails today, another BTC surge is possible if it breaks 9500. Alt coins are doing well too Bitcoin Cash is up 13%

Tipped on Interactive investor as one to watch for recovery this year:

https://www.ii.co.uk/analysis-commentary/four-aim-strugglers-recovery-potential-ii510408

all the coverage about electrification of fossil burning transport such cars, lorries, coaches are getting the headlines but it still comes to nothing if electricity generation is from fossil fuels such as coal, oil and gas!
Some of the ‘advanced’ developed economies such as US, Japan, Germany are all in the top 5 countries that generate electricity from coal. Germany is phasing out clean nuclear power and increasing coal power generation, Japan is actually racing to build MORE coal fired power stations, go figure!
Australia with all the recent devastating bush fires generates most of their electricity...from coal.

All metals across the board recovering strongly today, hopefully the dent from the virus scare will be short lived

Derby prospect comes good