Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The EBRD better summed up this initial investment:
"The Bank’s investment will be used by EMH to progress its lithium mining project in the Czech Republic. The company owns 49 per cent of the Cinovec deposit, the biggest hard-rock lithium deposit in Europe and one of the largest undeveloped tin resources in the world. The investment will finance the completion of pre-development works and studies to move the site towards full-scale production."
https://www.ebrd.com/news/2023/ebrd-invests-in-european-metals-holdings-ltd-.html
Great News - EBRD investment of 6m euros is minimal - KC struggled to express what this money is to be used for considering the DFS is due in just a matter of a few months!
But a smart move - EBRD have negotiated a smart agreement as part of this initial investment not to be diluted in any future investment rounds - a win:win for both parties - very exciting and profitable times ahead for EMH shareholders!
One or two deals announced in Norway this year? Hopefully three but I’ll happily take one to keep the momentum going here!
Of course a Velocette discovery will be a major catalyst if successful and you never know what’s happening in Malaysia!
Some exciting months ahead!
Depends on how quick they deliver further accretive production acquisitions, even highly tax efficient development projects and also wether exploration discoveries come in!
But with 100m USD financing in place with Japex I expect it will happen - the company says 3-5 years 20.000 + boped - that will more than justify it!
I expect much more and sooner!
@Tig… why is it confusing mixing a raise with consolidation- basic math a 9 year old can do!
Not a fan of SD but don’t expect market sensitive information to be corresponded via email!
Anyway you need to read in between the lines like you have had to do from day one - SD didn’t show for his London Town hall meeting - that says a lot!
Don’t like it lump it is the indirect message now that he is going all along where he originally planned!
Typical liquidity issues with HL no market to sell (not more than £400.00) and yet I can buy £25,000 worth , probably more but didn’t have the available funds to test it - guess still a lot of sellers in the background given the rise - anyway irrelevant holding for £2+
To be fair the investor presentations are very dry and very short.....Our CEO HH needs to smile a lot more moving forward (understandable after his first two years) ......his performance lacks confidence but very much looking forward to seeing him smile a lot more when/ if Velocette delivers.....at the top end £1 plus as a base to move all the way up as we utilise the 100m USD finance facility provided by Japex!
For those that missed yesterdays presentation with Q&A.
https://www.youtube.com/watch?v=cMef5G6T-Sw
Just seen todays RNS - A very good strategic move for our Kveikje discovery.......I am confident that the BoD's have something similar in mind for our Egyptian Vulture discovery!
Everything here makes sense and is now aligning!
"The key to all of this is future wells will benefit from the ~70% tax refund on development"
Agreed, that is why this deal is so attractive...acquiring producing assets with further development potential to significantly increase production pretty much is a risk free strategy given the generous tax rebates available not only on exploration but on developments/appraisal projects!
"Helge Hammer, Chief Executive of Longboat, commented: “We are pleased to announce our first production acquisition in Norway, the next step in realising our growth ambitions on the Norwegian Continental Shelf. The Statfjord Satellites are two high-quality, long-life assets undergoing an exciting and transformative redevelopment led by Equinor."
Hmmmn, I wonder if this is both a "production deal" and a "development deal" all wrapped into one! If thats the case, the CAPEX here expected to significantly increase production in 2024 would be subject to the generous Norwegian tax rebate system! Definitely a question for HH on Wednesday!
"A redevelopment plan was approved in 2021 to drill five new production wells into potentially undrained areas of the field while also adding gas-lift to increase production levels. This infill drilling programme is currently underway and anticipated to last until the end of 2023, resulting in a material uplift to production in 2024. The field is currently anticipated to produce until the late 2030s."
https://www.ogv.energy/news-item/longboat-energy-picks-up-stakes-in-two-north-sea-fields