Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Getafgrip, you are right. In the RNS early April it was stated the these negotiations are underway: "Our attention is now firmly focussed on drawing the Pensacola farm-out process to a successful conclusion and we look forward to updating the market in due course."
Until then, there is little more to say.
We just need news on the deal and I agree with GGG, it should come quite soon.
Pl: thanks!
I think most here have had doubts about Delt from time to time, but it IS happening!! Exciting to be a shareholder and see real tangible action again!!
Eviking, ok ta. So legal market manipulation...ok for us Glen holders, I guess!?
GGG, yes you are of course right: the deal terms are really important. Hopefully, the CEO is negotiating with multiple parties and with confidence!(having just completed the Selene deal; with all planning work proceeding well including a rig contract; a solid Competent Person's Report in the bag for Pensacola).
GGG, I agree. Playing the waiting game could prove expensive, as once it moves, it may well move rapidly.
I am sticking to my 71p guess from 8 Feb after both funding deals have been completed😀
Psychologically, the second deal is worth relatively more than the first one, as it removes the huge uncertainty (and fear of a fundraise) around funding the 2 drills.
Eviking, are you able to explain how this works, in plain English for a dummy like me, please?
If "old" Russian aluminum is acceptable to LME, why move it out? Apart from the share of rent the traders take, who gets a benefit?
Clued, as far as I can work out, it's mainly individual investors' money.
Lots of Tories are big landlords, so I'm wondering how this will go down?
I'm not even sure how commercial contracts can be negated retrospectively like this; it's daylight robbery for those who paid for freeholds, expecting a return over time.
I hate the whole system, a nasty spillover from feudalism and unique to us in England, but really needs an orderly transition.
Viable, could you elaborate please??
What exactly are you not happy with?
Everything looks in good order to me: 2 x drills lined up this year; next farm up deal being negotiated; apart from Selene and Pensacola, more to come in terms of future prospects. Enough cash in the bank to operate the company for at 18 months.
Cash burn in line with expectations and more than enough cash in the bank to take us to well after the drills, subject to farm out deal being made. Fund raise now is not part of the plan. If they need cash going forward to fund the day to day ops, surely they will only do next year; at that time the sp will be very different and other monetisation events may likely take place.
If the 2 drills are not good, then it's pretty much game over anyway, guys and gals!! Very very unlikely in my view.
Boyscout trades/low volumes, doesn't mean much. Surely nothing to do with teh RNS; everything is on track as far as I can gather. As GGG has said a few times, there are investors happy to take 10% profit. That's fine, just not for me.
Normally a setting on your online platform. Just browse the settings and you should find. I normally only have it on for shares where I get small amounts, as most platforms don't charge you for the re-investment. For bigger amounts, I will always assess what to do with the cash. Anyway, that's just my own approach.
Djm, I want this to happen and it will happen...but if you want it to happen today, you need to start buying!!! :-)
Farm out news will fix this in an instant...TBC
Hi SW, many thanks sharing, always interesting to hear what people say,
I am not familiar with the source.
I suspect we will soon see lots of coverage and as GGG said, the "AIM lemmings" will pile (and for a good reason)
SW, I think you are looking at this the wrong way.
This is not musical chairs. This is oil&gas exploration. It's in the category of "you can lose your investment in full". Delt is probably beyond that, but nevertheless still considered a high risk/high reward investment. As oil&gas exploration move forward you normally de-risk, prove assets etc., hence it objectively becomes more valuable (or fail), so it's not a matter of gaining from each other. Some people get the timing wrong, but that's part of being an investor. Over time it will attract different types of investors, probably not quite institutional investors but probably increasingly specialist funds, but also smaller investors who are willing to get in at a higher, but lower risk level. At some point Delt will start returning capital or do a sale of the company/the assets.
Volumes are low for sure. I know lots of people just holding, waiting for the upside or if it fails (increasingly unlikely), so be it.
News on the next farm out deal and drilling results will build this up again.
FD, I do agree with this point!! In short, no it didn't look well thought out, but perhaps they hoped for a farm down deal (I can't remember). In any case, you are absolutely right!
If a company reduces dividend so it can buy another company with a plan to do something sensible with the acquisition...it would be very one sided to just look at the cut in dividend.
Smells of better value overall, to me at least!
Nothing wrong with selling now and hoping for a retrace. It's rarely a straight line up.
FD, let's just agree to disagree...as we have done the past, right?
Just to re-state my view for balance of views:
Although I always get hugely irritated - as a matter of principle- if not invited to subscribe on a fair basis (ie pro rata as per shares held), it is also quite normal for a CEO to want/need to move with speed and certainty. Many small investors - and not the likes of you, others on this site and I - will not take up the offer promptly or not at all.
It only becomes unfair if the shares are offered with a preferred much lower price than the going rate.
To a great extent it comes down to trust in the CEO.
GGG, the last fund raise, the accelerated bookbuild in Sept 2022, was carried out at the market price 3.5p, ie 70p in current share count. The money was invested in drilling, so although more shares/dilution took place, also the inherent company value went up with at least that amount (in my books...). Therefore actually still reasonable to compare with sp before that.
Those who bought in recently times got a great deal vs the large investors back in Sept 2022!!
The consolidation 20->1 was done without dilution. The CEO will get options ongoing, so some dilution there, potentially. Anyway, that's normal, as you know.
Caesar, yes...and in fact we are in a much stronger position now!
The nervousness around the perceived risk of a fund raise has prevailed and in fairness volumes are still pretty modest.
I know a network of investors also holding/adding (not on this platform) and they are just sitting tight because the current sp is a joke. One might say it reflects the risks, but the upside is so significant that it has to be the opportunity of the year for many of us. 🎄🎅🏻
FD20, apologies!
Although I would also much prefer a fair participation in any fund raises, I still don't think the last couple raises have been unfair (and by unfair I mean not done at the going price). Perhaps that's a point of disagreement. I cannot comment on the time before my time here under the previous CEO, which may well have been questionable (as per other posters here)
I don't think the approved Resolutions/Special Resolutions will allow for this big a fund raise anyway. I doubt it will happen. GGG's point about a loan is a very good one.
Anyway, apologies if I missed your position; for sure we are a minority! Most are dead scared of a fund raise.