Member Info for cyberbub

I thought you meant AFC specifically...

Er, I can't see any stateside 'hammering' at all???

I would be interested to hear Dallo's views on the meeting? Are you able to post Dallo? TIA

Not sure there will be a TU before the annual results, which must be due in 3-4 weeks or so? A perfect time to give us a Q1 update, which will hopefully show encouraging trends...

PS the equity investment for Stage 1 has already been promised by VBR, so barring some disaster (I don't think the current unrest is that), raising the debt should be straightforward.

I hope that as we progress towards the BFS and get the full funding package confirmed, we will head towards VBR's agreed investment price of 75p... if it's good enough for them...

Indeed - if you're getting your investment back within 3 years (2 to build the plant plus a year of income), and then after that you're coining it in, there will be plenty of people willing to take the risk :-)

As you say hopefully there won't be too much disruption. I'd be happy enough to have the corrupt and authoritarian govt overthrown, a democratic govt operating under rule of law is usually more stable and better for investors. But there is plenty of US/foreign investment in Kaz under the existing govt so I don't think there will be any issues either way, touch wood.

GLA

Yes political risks can't be ignored in places like Kaz - or indeed almost anywhere these days. Even in the USA I have read that billionaires are starting to move some of their money out, buying estates in New Zealand etc, eyeing a possible authoritarian government in the US in a few years' time.

However I believe that FAR's game plan for the debt portion of the money they need is to get it from local state-owned banks, which will certainly not refuse to lend to a prestige project for the country. And the amount of debt they need (for Stage 1 at least) is relatively modest at about $100m.

Yes - sadly I expect a brutal crackdown and imprisonment of thousands, in the style of Belarus or Turkey... Dictators can never allow even a shadow of freedom, or else their whole edifice comes crashing down... I don't suppose this unrest will have a massive impact on FAR in the medium or long term though...

O&W, why do you think Nick and Dmitry are likely to sell their shareholdings in March?? They've worked hard for 10 years to build up the company, it's been very slow going but they took a huge leap forward last year by signing up Mick Davies, and (hopefully) within 3 years we will be in production, and the share price on all rational calculations should be 10x the current 30p (possibly more). Sure Nick sold some last year, under pressure to fund a personal divorce settlement. Perhaps they will sell another few million in March for personal reasons (buy houses for their kids or whatever). But I'm struggling to understand why they would dump significant amounts of their holdings, within sight of the finish line?? If nothing else, their large holdings gives them good (albeit not controlling) leverage over the direction of the company. Do you know of any reason why they would dump their holdings?

PS. Even if they did, ultimately if the company fulfils its promise, any weakness in the SP would be only temporary - money talks...

Skid35, I understand where you're coming from. My faith in the BoD has also been shaken to an extent. I'm willing to see how things develop in the next few months though - if the orders do genuinely start ramping up then I think we will look back on this in 12 months as just a temporary blip.

I'm off to look at the company presentation that Sergi posted now.

Skid35, I understand where you're coming from. My faith in the BoD has also been shaken to an extent. I'm willing to see how things develop in the next few months though - if the orders do genuinely start ramping up then I think we will look back on this in 12 months as just a temporary blip.

I'm off to look at the company presentation that Sergi posted now.

The discount is very poor, and clearly insiders had knowledge as always on AIM. But the technical and revenue prospects of the company are unchanged, and even assuming all warrants are taken up, the market cap is only £30M today. That doesn't seem excessive to me, given ENET's tech and customer list. GLA

The discount is very poor, and clearly insiders had knowledge as always on AIM. But the technical and revenue prospects of the company are unchanged, and even assuming all warrants are taken up, the market cap is only £30M today. That doesn't seem excessive to me, given ENET's tech and customer list. GLA

The placing is not a massive dilution but the discount is outrageous ??

Sounds to me like a few of the larger/more vocal shareholders on this board should possibly try to get to the AGM and give the board a rocket about their IR? Is the AGM in Israel or in London?

I presume you mean $2bn not $2mn?

Otherwise yes that's the reality - VBR's investment is to raise new capital for construction. VBR buying shares on the open market provides no new money. And with much of their investment done at 9p, their average across the whole investment is a lot lower than 78p...

Any of the LTHs here have a fair value 12-month target for ENET? It's severely illiquid of course, there is a seller/fund playing games in the background, and as Tracylied says, the company don't go out of their way to promote themselves. £25m seems cheap to me for the company's IP, but at this point they are still a loss-making minnow from the point of view of new investors. Are the management open to a buyout from a major player, do people think? I suppose everyone has their price. IMO £100M would barely cause a ripple to any of the majors, who would save money from developing their own IP and more importantly time, to gain competitive advantage in the marketplace.

Kewben,

You've got a big holding there. What's your rationale for expecting 1p in the coming months? ie your 'sum of the parts' valuation of GWMO? I'm fairly new here, just looking to gather views.

Thanks,

Cyber

Clearly they can't give out info before RNSing it! But they could have been given the nod from the relevant Ministry that the EIA will be approved on Monday?

I assume that the delays are caused by Kazakhstan bureaucracy, they are an ex-Soviet state where government admin (eg to permit a foreign investor = VRB) probably takes a lot longer than it would in the West... Ultimately though the Vanadium mountain is still there!!