The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I thought all of the small ,100 share trades were the result of Algos trading. Checking on LSE for todays trades and they all seem to be AT or off book trades. Strange all the same but I doubt anything sinister is going on.
Cyan, I too picked up on the investment caution with respect to the free cash flow. Whilst at face value it didn't sound good, it doesn't mean SL could be funded by other means. After all, if PMOs plans go well their debt will significantly reduce. This could leave room to pave the way for SL. Lets also not forget that FIG might not be too keen to renew licences to companies that are holding their prize asset in the long grass. Hopefully we will get news on OM award soon to ensure we stay in the game.
"Consideration Shares held by Rockhopper in United are subject to certain lock-up and orderly market disposal provisions for a period of up to 12 months from completion."
I missed the 'up to' bit so not surprised we've sold up. Could be a good move but only time will tell.
UOG couldn't afford to pay cash for our asset therefore an agreement was made to pay the difference in shares. There was a clause preventing the sale of these shares which if I remember correctly was 12 months (is it 12 months already?!!). If we've just left the period that we couldn't sell then it doesn't surprise me that we sold. After all, we would have taken the whole amount in cash if it had been offered at the time. I'm not reading too much into the sale, cash is king at the moment.
£15.89 worth of shares sold today and we are down nearly 4.5%. This is a joke.
1 share sold yesterday at the open. No shares traded yet today however we are 4% down @ 10:45am. How is that supposed to work then?
"...new rules barring the UK government’s chief foreign lender from offering financial support to foreign fossil fuel projects."
Not sure the Falkland Islands would be classed as foreign under the new rules.
Anyhow, even if funding isn't provided through UKEF, I'm sure the funds will be raised elsewhere so long as the project can be proven to be profitable.
Thanks for posting Mogger.
Anyone who reads the paper will plainly see that the FIG are still committed and want Sea Lion to proceed. Land space is limited in the FI especially around Stanley, so 'reserving' this for our project is positive in my view.
I certainly agree with that. Q3 / H2 starts next week along with easing of restrictions. Hopefully things will start to pick up from then on. Covid always going to be an issue to factor in for at least the next 6-9 months though.
Interesting 10% rise late on yesterday. Doubt it's OM related however we did have the unexpected rise earlier this month. There must be some rumours circulating that we are not yet privy to. All to look forward to!!
GLA.
Quite possibly pauldrayton. However, as it was written in Edison's 'updated' (25/06/20) report under the Industry Outlook, I take it as expected in the coming months as of the 25th Jun. It's about as official as we can expect and all we can go on. Anything else is speculation.
I wouldn't pin your hopes on an outcome in the next few weeks. Edison's latest update (25/06/20) indicates a possible outcome in the coming months. The delay to me suggests they are fighting for the best possible outcome. Not long to go now.
https://www.edisongroup.com/company/rockhopper-exploration/599/
Hopefully with things easing off on the cv front, the company will put out details of their planned 'investor event' that they said they would do due to the AGM issues. If they do hold the event, hopefully we get more answers. If they don't hold it, that would be interesting. I'm hopeful it will go ahead in the next few months.