Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Where's Andrew?
Kind regards,
Hundreds of shareholders
Reading the concluding paragraphs here puts our investments in perspective.
Admittedly it is from the odious United Nations, but paras 18-22 made me pause and reflect.
https://reliefweb.int/report/south-sudan/statement-mr-nicholas-haysom-special-representative-secretary-general-and-head-unmiss-united-nations-security-council-briefing-14-december-2023?utm_medium=social&utm_campaign=shared&utm_source=twitter.com
That's what I was trying to say, Sandwiches.
Maybe everyone's filtered me... :-(
The cancellation date is 13 December 2022.
I imagine the AD publication is not possible as certain confidentiality clauses may be breached. Or mgmt has just decided to pull the shutters down until all conditions precedent are satisfied. Or something else.
This RNS talks about cancellation.
Of course, it was cunningly entitled "Readmission..."
I suspect 1 Feb 2024 is fill-or-kill.
13 Dec 2022 08:00
RNS Number : 4007J
AIM
13 December 2022
NOTICE
13/12/2022 - 08:00
NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM
Following a Reverse Takeover the following securities have been cancelled from trading on AIM with effect from the time and date of this notice.
I was thinking the same, PF. Seems like 1 February might actually be a deadline rather than an aspirational closing date. I suspect that the wording is less a message for the market and more a message for the negotiating parties.
At least the timescales between the RNS updates and putative deadlines are getting shorter. I continue to believe that licence extension is one of the main outstanding issues.
14 December 2023
Savannah Energy PLC
("Savannah" or "the Company")
South Sudan Acquisition Update
Further to the Company's announcement on 29 September 2023, the Company continues to advance the various workstreams required to complete the acquisition of PETRONAS International Corporation Limited's energy business in South Sudan. In this regard, a further extension to the Company's cancellation date has been granted to 1 February 2024. Further updates will be provided as and when appropriate.
Yes: it's been a one year papal conclave. Smoke from the chimney of Bank Street still grey...
...I doubt it has much (or possibly any) significance, but we'll soon find out.
Https://twitter.com/PatrickHeinisc1/status/1733254790757388717
More than one way to interpret this...
Hi snaffleman
My posts in late August set out my DCF approach. I got to 9.4 pence on Nigeria, but that includes 100% of the central group overhead. Exclude that and I had 20.3 pence-ish. My model is based on the sectoral analysis from the company and disclosures in various RNSs.
It was pretty conservative, I think.
Hi oaw. 15p without a deal but I think it'll stay suspended. Greetings from Bangkok (rich tea in hand)
Licence extensions beyond 2026 are surely key. We can hardly sign up if the licence expires in three years' time. This uncertainty exists for ONGC and CNPC too, of course.
I do hope Mr Kiir manages to stay on for a bit...
You may well be correct, Zengas (which is my way of saying I don't really know!) You have a great track record of being on top of such matters!
But that gets us back to a deal which is "subject to" goodness knows what. It may be that management is once bitten, twice shy on that approach after the Chadian pantomime; and of course it may also be that relationship and legal circumstances preclude such a move.
And if we did relist, subject to various conditions precedent being fulfilled, how does that give appropriate price discovery?
I don't like being suspended but it's the least worst option, in my opinion at least. Perhaps I'm missing the point: wouldn't be the first time...
Good grief: what idiot programmed the filter here? You can't even say s-p-a-r-s-e without some editorial fascism. Spbackside, perhaps?
hi moho
i share your frustration with the long suspension and sp**** communication. however, if we relist, i believe the ss deal would have to be abandoned under listing rules: that would lead to a significantly lower share price upon relisting. given that the ss deal makes such a fundamental difference to savannah, there's no way it can't be interpreted as a reverse take over.
andrew knott is extremely shrewd: he wouldn't be staying suspended unless this deal still had a decent chance of completion; i think we have to stay suspended until the deal is either done or clearly cannot be done.
i think we'd all like to be trading, but i'd happily remain suspended until 2025 if this deal could get done on attractive terms.
Many thanks, Rocky.
My read between the lines on this is that debt restructure looks close to completion, SS not so much, no extra hydrocarbon deal close to completion and Niger (our part of it) looks stalled.
Interesting on the Accugas capacity and demand. I must look up the potential addition once the expansion project is commissioned.
Meanwhile, in New York...
https://jusmundi.com/en/document/decision/en-savannah-midstream-investment-limited-v-republic-of-chad-sht-overseas-petroleum-limited-sht-doba-pipeline-investment-inc-societe-nationale-des-hydrocarbures-snh-and-cameroon-oil-transportation-company-cotco-s-a-order-of-the-united-states-district-court-for-the-southern-district-of-new-york-friday-15th-september-2023#decision_54621
I'm not sure if someone else posted this. Looks like the freeze on anyone moving the $151m was approved by the court of 15 Sep but Citi sent notice of appeal 18 Sep and that's the latest. Assuming SMIL wins, it just means that the funds sit there until the Paris proceedings are concluded (I think).
This company would make a blockbuster movie.