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And for those who can't be arsed to look up the RNS's with regards to funding:
The Equity Fundraise was significantly oversubscribed and the Company, having taken into account the strong support received from existing and new investors, decided to increase the size of the Equity Fundraise to $38 million. In addition $3 million has been raised through the Retail Offer.
Accordingly, aggregate gross proceeds of approximately $41 million have been raised through the Placing, Subscription and Retail Offer. A total of 47,637,583 New Ordinary Shares have been placed and subscribed for pursuant to the Placing, Subscription and Retail Offer at a price of 65 pence per Ordinary Share (the "Issue Price"). Canaccord Genuity acted as Nominated Adviser and Sole Bookrunner in respect of the Placing. Olivetree Financial Limited acted as UK placing agent.
The additional funds raised in the Equity Fundraise will be applied towards further development of the Company's asset portfolio, which could include additional drilling, testing and completion, and the strengthening of its balance sheet ahead of future farm-out and/or financing negotiations.
In addition, the Company intends to elect to increase the principal amount of the Convertible Bonds from $50 million to $55 million in accordance with the terms of the Bond Documents. The issue of the Convertible Bonds is expected to complete at latest on the business day following admission, subject to customary conditions precedent as described in the Company's announcement of yesterday. As part of the Placing the Convertible Bond Investor increased its subscription to $3 million.
4 posts Hug and your asking stupid questions like that-Suggest you do some research-You'll find all the answers in the RNS's
I have to say I'm really impressed how smoothly this whole operation has gone, from the fund raising, making the ice road and drilling/testing to date. Must surely be ahead of schedule?
Fully funded :)
Based on value of 88e, Pantheon should be at least £5
I echo that GS. Todays increase is just punters waking upto to the fact that the oil we said we had is actually there and easily accessible.
Personally, I'm not interested in what happens to the sp on a daily basis. I'm looking at a buy out within the next 6 months. The big boys will be all over this on positive drill results.
I think were going to look back at this price and wish we had sold the kitchen sink to buy more
AstraZeneca has no effect against symptomatic Omicron 20 weeks after second dose. Pfizer down to 10%
Are we testing for Omicron wrong? Saliva swabs detect the strain better, study finds
A recent study conducted by researchers in South Africa has found that saliva swabs are the preferred sample for Omicron detection.
It comes as experts are advising people to swab their throats when trying to detect the virus, as we reported a little earlier.
The latest findings suggest that the pattern of viral shedding during the course of infection is altered for the Omicron variant - with higher viral shedding in saliva relative to nasal samples.
This has ultimately resulted in improved diagnostic performance of saliva swabs.
The study has been published on the medRxi preprint server.
Do we know a company that has saliva tests?
Thanks to all the contributers on this BB. Have a great evening and lets hope for an happy, healthy and prosperous 2022
France seems to be doing very nicely with UK markets closed
For those interested in this pro's outlook on gold
https://www.youtube.com/watch?v=TbzOs7TOzF8
Do peeps realise just how this 5% purchase will change GGP's outlook? We should get enough cash from selling this 5% to Newcrest to see us to production (or at least greatly reduce the amount of borrowing required). Of course the big question is what is it's worth to Newcrest. Personally, I see Newcrest paying an inflated price as it helps things move along at a pace.
£6m in the bank and no debt. Either the sp is wrong or the oil has gone from the wells
Canaccord Genuity view Pantheon has raised $96m (upscaled from $70m) to provide the funding necessary for an extended, varied, and very high impact operational programme in 2022. We expect operations to begin very soon, and to include the drilling and testing of two/three new wells and the testing of a previously drilled well, at its 100% held licences onshore Alaska. We see a number of key attractions to the programme including: Large Scale: Targeting c.2 bnbbls net resources. Excellent location: Onshore Alaska, close to oil services, road access (Dalton Highway), and crude oil export via Trans Alaska Pipeline. Catalysts: Numerous, starting early Q1, lower risk exploration to appraisal. Drilling and testing two new wells (Theta West-1, Alkaid-2H), testing four zones in Talitha#A well, with a longer-term Alkaid test to include oil sales. A fourth well, at Alkaid, is likely to be added following the upscaled raise. In our view, this comprehensive and very exciting programme could result in a significant uplift in market valuation and a considerably raised industry profile, which in turn could lead to a potential farm-out or sale.
Valuation, rating, and target price A more comprehensive discussion of value is overleaf. For now though, we make adjustments to our target price, based on total estimated targeted 2022 resources of 2.1 bnbbls, a highly risked $1/bbl unit valuation, and anticipated post raise full dilution. As a result, we increase our target price to 200p (from 170p) and given the risk profile we maintain our SPECULATIVE BUY rating. We note the scope for the much higher market and industry valuations (discussed overleaf), and we would foresee our risked valuation shifting in that direction as successful drilling/testing milestones are met in the 2022 operational programme.
If these contract RNS's start landing, I think we could see fireworks here. This sp could look an absolute bargain if they land some decent contracts
I still have an interest in the technology, but I'm afraid until they get rid of Collin, I won't be re-investing here.
I took a loss here, but have more than recovered it another diagnostic company that has just received CE approval. Never be scared to cut your losses and move on.