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Taken from page 16 of the VSA Capital broker note:
TVL will therefore be focusing on the speciality part of the lithium hydroxide production process; removing impurities
to create a battery quality product suitable for top tier OEMs. We believe that by specialising there is a higher c hanc e
of success in producing a battery quality product than for a mining company and we believe that there are a number of
factors that make producing a lithium sulphate a compelling alternative for producing a hydroxide or carbonate; firstly
the ability to produce a four or even five 9s product is difficult to achieve and the discounts to benchmark pric es may
significantly reduce the returns of a project compared to its forecast parameters.
This may make the lower upfront capital of a lithium sulphate plant more attractive
Taken from the 27 Jan 2022 Allenby BN report
Our valuation methodology for Baron is based on a sum-of-the-parts calculation where
the parts are the different projects. Chuditch is by far the most influential which leaves
the stock very much a play on the project. For each project the key components of the
valuation are the net resource base, a risking factor which takes into account our
assessment of commercialisation at this stage of development and a valuation quotient
expressed in $/boe. We have used $0.5/boe for this purpose. Note, we adjust working
interests where appropriate for anticipated farm-ins for the first stage of
appraisal/exploration. In the case of Chuditch we have assumed that Baron will be seeking
a free-carry farm-in and that this will necessitate conceding 50% of the equity in the
project. Its working interest will therefore drop from 75.0% to 37.5%.
We are leaving our absolute and per/share valuations unchanged from our September
2021 interim report at £30.9m and 0.27p/share respectively. In a success case for the
initial drilling programme at Chuditch we would probably need to boost the valuation
quotient to at least $2/boe and the probability of commercialisation to 60%. This would
boost the absolute valuation to £110m, equivalent to 0.949p/share.
You need to re read the rns
Gross Attributable to Licence 5.5TCF x 65.9% RF = 3.625 TCF
Net Attributable to Baron
Gross In place 4,125 x RF 65.9% - Net Attributable to Baron 2,718
Chuditch SW prospect Gas-In-Place estimate has increased, but greater structural complexity may imply a lower recovery factor
https://www.investegate.co.uk/baron-oil-plc--boil-/rns/chuditch-psc-update/202210240700097915D/
Don’t forget the company has debts so they will not simply pay up £20m for Made
He did say in the interview, he would buy more shares but currently has inside information so legally her cannot buy any. So I guess there is news to release once everything in order from the company
Assuming they were going ahead with the $10m Pilot stage plant
Raising £9m at say 3p = 300m Placing shares.
This would of been a 166% dilution
Total shares in issue would of been 300m plus 180m = 480m shs
The NPV per share would of dropped to £105m div 480m shs = 22p
Assuming they definitely are not going ahead with the pilot
Stage plant, then that is a very good business decision- plus keeps the NPV per share at nearly 60p.
So trading at about 2,000% discount to today's price.
For further info on the NPV value - see page 2 of the below report
This was based on July 2022 BN Report from First Equity - would of thought the finance risk % would reduce after yesterday's news on a strategic partner and possibly no $10m needed to be raised on a pilot plant
• Development / Resource Risk 30%
• Finance Risk 50%
• Country Risk 25%
https://blencoweresourcesplc.com/wp-content/uploads/2022/07/FEQ-Blencowe-Resources-BRES.L-Buy-note-TP-59p-prev-27p.pdf
Orom-Cross graphite would likely remove the need for a pilot plant, as the principal rationale for its implementation was to provide product to would-be off takers to enable them to assess its viability for their own uses.
A direct impact of this decision is that there is no longer a requirement to raise substantial cash (circa US$10M) in the near term via the equity markets to fund the on-site pilot plant.
That's nearly £300,000 of Director buys
MusicMagpie, a leading re-commerce business in the UK and US specialising in refurbished consumer technology, announces that on 22 March 2022 Catherine Oliver, spouse of Steve Oliver, Chief Executive Officer, purchased 476,190 ordinary shares of 1p each in the Company ("Ordinary Shares"), at a price of 52.5p. On the same date, Ian Storey, Chief Operating Officer, purchased 95,238 Ordinary Shares, also at a price of 52.5p.
Valereum’s proposed takeover will need the approval of the Gibraltar Financial Services Commission. Young says that Valereum has not yet exercised its right of option—which would trigger the purchase—but that the company is in “constant contact” with the FSC.
If the deal goes through, Valereum plans to raise £50 million ($67.6 million) to invest in the stock exchange’s infrastructure. “But we may raise more. I mean—we may raise £100 million,” Young says.
Https://www.wired.co.uk/article/gibraltar-crypto-exchange
"We have identified a new, but well advanced, enabling technology which minimises power losses associated with transmitting medium voltage alternating current over miles of cable. We understand the cable designer, Enertechnos, is planning to install a 28km cable in Wales in 2022, to prove the concept in a real-world setting.
"As part of the evaluation of this alternative concept, we intend to select the very best renewable energy system to provide the bulk of the power to the platforms; we have already entered into discussions with both Floating Power Plant A/S and Wind Catching Systems AS, and we intend to listen to what every potential wind technology provider has to offer.
"Backing up the system with highly efficient gas reciprocating engines is a practical and proven method to provide a reliable power supply and enables implementation of the project on an accelerated time scale.
"Since we conceived this approach in early October 2021, we have been delighted with the enthusiastic response of all of the companies with whom we have shared our conceptual solution. We are excited to work with North Sea Midstream Partners, Petrofac and Wärtsilä to develop a commercial offering to CNS Operators which we believe will be truly compelling."
Https://www.investegate.co.uk/orcadian-energy-plc--orca-/rns/oga-electrification-competition/202112061603497251U/
Summary of Warrants
As at 31 December 2020 the warrants outstanding were:
Number
Holder
Strike Price (p)
Issued
Life
Vesting Criteria
170,455
S P Angel
22.0
31 January 2018
5
At grant
9,625,000
Various Holders
12.5
25 July 2019
2
At grant: - detachable
3,499,222
RiverFort
5.2
21 January 2020
4
6 months after grant: - detachable
25,000,000
Various Holders
7.0
22 December 2020
2
At grant: - detachable
https://www.investegate.co.uk/westminster-group--wsg-/rns/final-results---investor-presentation/202104300700051440X/
Furthermore, should trading not be in line with management's expectations going forward, the Group's ability to meet its liabilities may be impacted, in which case the Group will need to raise further funding.
to take two months to complete and a further update is expected to be made by the end of April 2021. As previously stated, Paraytec are seeking manufacturers and licensees to take the product to the global market, with first product manufacture expected in six months, subject to regulatory approval.