Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Afternoon Nige,
Fingers crossed we may get an update before the GM. From the brief look at the pricing it seems that Brazilian gas is around $3/mcf or around twice the US gas price. I would imagine any assets they acquire will be of commercial scale, hard to say exactly on what scale that would be until we see the RNS. With a circa £8m market cap here it won't take much scale to make a material difference to value, especially when you add in Angola. I've seen many an AIM oil and gas company trade well over £20m on much lesser exploration assets.
Regards,
Ed.
Knw,
Well I guess its down to the scale of the loss, folks with larger holdings can afford to pay more. £550 isn't that much considering the potential for the amount of possible return. He suggested that more costs are unlikely, but if something crops up he would let the group know. Buy my impression its a one off for phase 1 before progressing to the no win no fee case. His comments on settling early and not going to court were very interesting, so folks should attend a call if possible.
Regards,
Ed.
Space,
I would imagine so. He did answer a long list of questions from CAG at the end of the presentation and some additional q's from the chat text. So you can give it a go, there's some things that he doesn't discuss at this time, but most things he does cover.
Regards,
Ed.
Monty,
That wasn't given. Some will pay a small fee, most will pay around £300 and some will pay no more than £550. Given my impression so far is its going to be no stone left unturned. I was a little skeptical before today's zoom, but not now, folks should get onto these calls, he does answer some q's at the end. If anyone is unsure try to get onto a call and see for yourself or watch the video when it comes out, there will only be a couple of weeks for folks to register and become clients so its now time for the fence sitters to make their minds up either way. He's been very successful in the past on multiple cases.
Regards,
Ed.
GPG,
He sure did give a very confident presentation, like others have said one of these calls will be recorded for all to see. He seems like a very well organised and focused professional guy. Agreed the best guy for the case and I'm looking forward to becoming his client in the near term. Well done to RBM/CAG, Stas etc so far for getting this all put together and providing the info for him to work on. Be very interesting to see how this all transpires.
Regards,
Ed.
Maidit,
Well CAG and Mr Cotter represent the largest combined group of shareholders so it should come from them. But well done to others that have contacted BP's Canadian solicitors. But CAG should now make themselves clear to BP's representative, best to come through Mr Cotter too imo.
Regards,
Ed.
Sharebel,
That certainly would be sensible. There is a common enemy here that has led to this situation and the possible obfuscation of the asset sales process. You would think the basic outcome of this should be the cancellation of the current asset sale and either a fair transparent process to sell the assets for fair value and allow all interested parties time to bid. Certainly the likes of BP taking exception to the AVO leads a ton of weight to the case against what's going on this last 12-18 months. Just when they thought they were home and dry BP steps in! Lets hope CAG and Mr Cotter can capitalize on this fully.
Regards,
Ed.
Hi Nige,
You never know, when you read about our new CEO Mr Gilbert, he has the right experience.
"Mr. Gilbert is also an entrepreneur who has co-founded and invested in several businesses within the oil & gas sector, thus bringing to the Company invaluable experience in deal origination, M&A, and post-merger integration."
Sounds interesting for sure and could be hinting at a merger. Then when you read Mr Gilbert's comments he does make it sound like he's joining the company at the right time. He's excited about something.
Regards,
Ed.
Afternoon Nige,
I'm good, hope you are too! Yeah he's a very experienced guy and has an eye for some good assets (KON-11, KON-12 and KON-16). If Brazil is anywhere close to as good it will be very positive. Company has hinted at producing gas assets in Brazil. Now that we have the new appointment and Brazil getting a mention again, in combination of today's comments about advancing Angola and Brazil near term, things could get perky very quickly. A half decent producing asset in Brazil could see us quickly back over 1p again. If TO-13 flows probably a lot higher than that as the market is acting prematurely on Tobias testing so far.
Regards,
Ed.
RL,
Very true, seems like we are very close to some more exciting news:
"Lastly, we look forward to announcing further advancements at our operations in Angola and M&A activities in Brazil in the near term."
Sounds very interesting to see how the company transforms next. Mr Gilbert was responsible for getting the Angolan blocks for Apex so it'll be interesting to see what he secures in Brazil too. Apex are one of our main shareholders so should do well from any further acquisitions. I'm sure you are also looking forward to the further advancement of Angola too.
Regards,
Ed.
Good afternoon Nige,
Yeah its certainly positive that EXT are buying out Mr Jennings at a large premium, some on here said that would never happen. Also like you say its very positive that the management are looking to buy at a premium too as they know what's going on with the Angolan assets. Plenty of news still to come from Tobias, let alone the rest of the Angolan and mineral assets.
Regards,
Ed.
Hi Sienna,
There's sometimes a wide spread on companies which would deter some traders. I would largely ignore that as you should be able to trade within in that providing you're not looking to buy or sell large volumes.
Takeover, I hope not I'd like to see them develop these two fields and drill KON-16.
Regards,
Ed.
GALP think they could have hit 10bn bbls according to this article, apologies if someone already posted over the weekend, not caught up on those posts:
https://www.reuters.com/business/energy/portugals-galp-says-field-off-namibia-could-contain-10-bln-barrels-oil-2024-04-21/
Anyone else looking forward to the volumetrics of the stratigraphic targets in Namibia that TRP are currently firming up. I wounder how many bn bbls they'll add to the prospective resource targets. :)
Regards,
Ed
This sort of arrangement isn't unusual here. Since Mr Karam has been involved with CRCL nearly every placing/funding has been at a large premium to the current share price. It makes a real change to have management and cornerstone investors aligned with shareholders. Even to get a management buy recently of £200k is large for a tiny cap, perhaps things aren't nearly as bad on TO-13 and TO-14 as some on here would lead us to believe.
Regards,
Ed.
RL,
Yes true its very positive for the the company and shareholders too. Not only are EXT getting cheap shares, but the company benefits from the removal of the potential 99m share overhang ahead of the test results of TO-13. Shareholders clearly also benefit from the removal of the overhang as they progress the Angolan assets and we have a very keen cornerstone investor fully behind the company at higher prices.
Regards,
Ed.