Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
If you were in doubt about LEK would you buy 59million shares at circa 2.5p , Metallon obviously confident.
Will keep researching....
GLA
GLA
Processguy, yep , another TR1 likely when the sell order is completed
2019 Annual report due this month 6month rule , not that it will be staggering but may shed some light
Maybe some news flow now on the outstanding
Funding
Survey vessel
March lift
JV otakikpo
Scandal
CFO
Etc etc
Clearly something behind the scenes, my thought rightly or wrongly
Over 10% voting rights can make offer highest SP 12months , Wait till Jan 2021 keep the SP suppressed then 2020 highest price , all needs approval of course
TR1 in excess 30% offer must be made (maybe Metallon buying on behalf of ? Or in conjunction with )
Asset values are immense, or could be Metallon having a gamble that an asset sale may occur which obviously increases SP, (I know) or they have another hunch of why the SP may rise.
If it does not rise someone losing more than me
Not that’s a reason to invest or feel secure, DYOR
GLA
Positive is it’s a start.... of something
Prior to founding Metallon Corporation, he founded and built a Financial Services company, Capital Alliance Holdings. When Capital Alliance was subsequently sold it had U$8 billion worth of assets under management.
Currently, Mr Khumalo is Chairman of Gold and General, a Jersey-based company which is a family holding business. Gold and General owns the majority shares in Metallon Corporation, as well as other family investments.
At least we have part of the answer , taken some time to acquire those shares as we know
Makes me think even more , something interesting will be happening
MZi Khumalo , interesting reading up on this gentleman
Starting to warm up
Little 500k through NEX at 2.70 at 8.31
Ticking up...
London stock exchange
https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/KYG5462G1073GBGBXAMSM.html?lang=en
No lates today . although a 1M @2.56 trade through the nex exchange yesterday as well as the late
Guess we keep on waiting LEK used like a Friday RNS
Been doing this a while and LEK has me a little baffled. Although in play IMO
For a while I thought no late trade ?
Checked again and it’s there 1,250,000 @2.60 £32,450 , how much more to go ?
GL
Disguising the trade imo
Move bid ask mid point etc
Yep , Elland , today made it more obvious, not a late reported one , like the other day and the 75k
Unless cancelled in the morning , of course
Someone got deep pockets , wonder if Brent prices may expedite the process
Fingers crossed
GLA
Hoping for one morning to wake up RNS , take over by Seplat or Addax at 15p
Few small trades on Nex
Late ones continues .....
Thought that 2.65 sell late yesterday Would be cancelled , not the first time, looked odd.
Oh well , time will tell , more I research and compare to potential and output from others LEK is priced very low
No rush for me , if it comes off great , if not could have sold out , question is what would someone pay for
276
310
Oktakipo
Etc
Good luck all keep safe , keep them peeled on any info.
BigM ha , I agree , be easier,
Guess all about timing
Never did get 310 survey vessel results , expected to be completed 24 March? unless delayed , postponed, this delaying the process ?
And/or
if JV/TO/Asset sale , acquirer potentially assessing market conditions before committing? Seplat/addax sinopec
Or just observing, delaying see how LEK manage , and therefore pick up at the best price
assets not changed, see why they state world class
OPL310 774mmboe 17.14% plus afren 22%
OPL276 29mmboe 333Bcf 45% interest
OPL325 62% interest 2billion bbl
Oktakipo 40% interest break even under $30 per bbl 56mmbbls (potential 162)
Guess the question is what is each one worth? Or all , capex/opex required to return the full potential.
assets v Mcap, comparing to others and their SP/valuations seems good value imo.
Guess reason I am staying, maybe wrong, anyone know our hedged prices ?
GLA
15.5k @ 2.58
Floppy not seen regular 50/100 trades not to say they did not happen, reason I stayed in after scam
Worst case imo sell an asset 276,310, Otakikpo or the lot as long as can get a buyer ie: Seplat/Addax
Oktakipo as you know was to be transformational next lift was due 4-6weeks From 27th Jan, Jan lift $7M.
No recent news on : that Lift or , new CFO, scam update , JV Oktakipo increased production , or funding , or much from the new NED’s, Survey vessel , but LEK paid 2M for 310 which was LEK priority in the latest RNS and have a strong relationship with Optimum, makes me think are they involved more.
Plan was to take the Afren payment by LEk into consideration on farm in after dropping the dispute with the Nigerian government on 310.
Lekan Akinyanmi, LEKOIL's CEO, commented, "We have kept our commitments on our world class asset, OPL 310, despite the detrimental effects of the COVID-19 pandemic on the global economy and the subsequent fall in oil price. With the implementation of our cost reduction measures, we believe we are in a good position to navigate this challenging period.
Lekan imo will be wanting a return on his shares and keeping his $1M pa salary , unless a hostile.
Shame he did not announce a pay cut and save jobs as the CEO,
And then we have these late trades which are not insignificant , thinking out aloud
spreadex TR1 hopefully out as we had some large trades about a month ago after their TR1 under 3% assume trades were Spreadex , unless it is still on going , but more has been sold in value.
The other consideration is a high percentage of shares are in BOD/ii hands so unless one is selling but who is accumulating and would be easier surely to do an off book transaction between parties ?
Other options hostile accumulation , no share price fluctuation ? Where are the shares coming from, why no fluctuation
No FCA short positions over 0.1% actually surprised me, not being lended to suppress any rise , like at another of my favs Metro bank
No Director buys . this year when they could have had if conditions allowed eg price sensitive
Unless the MM took a huge amount of shares on the scam drop, not sure they would be allowed due to risk management also who is buying them if that is the case
So what I am trying to say is who knows where these magical shares are coming from and why the SP
does not deviate haha
Know there are some very long term holders on here
who may have some ideas ..most welcomed by me
Anyway good luck all , keep safe , fingers crossed ,
Lates always hard to say
Low today 2.30
Anyway in the price although nothing seems to move it , bizarre
Elland/Process your opinions on those 11 trades yesterday buy or sell
Cheers
17K BigM ...
it continues ..... would not be the same if it did not happen ha
GLA
Process guy, this happened on that 40k trade as well but got reinstated , just checking I am not losing the plot Ha
Thought yesterday was bizarre end of day trades like I said, I felt it was not supposed to happen the trades to be executed In that way or exposed why not do the usual one delayed trade.
But one positive can check the timing and confirm, buys or sells which was always difficult previously with delayed trades.
More fascinating by the day ...
GLA
So around £160K today .... follow that money
Just checked haha they did that as well
‘An acquisition of shares is to be regarded as effective when the relevant transaction is executed’
think they may have passed the threshold just depends how far they have left to go to compete the order ‘transaction is executed’ is my understanding, maybe a real surprise
Had 75K trade recently but as usual , delayed trade , interesting today revealing the individual trades very late on before close, could have done the usual one late trade 80K , maybe was not supposed to happen?
Anyway interesting times.
GLA
None of the others have Floppy and there has been a few ....