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Orosur has taken an important first step toward resuming 100% ownership of
the AnzĂĄ Project (âAnzĂĄâ or âthe Projectâ), targeting completion of a transaction
(âthe Transactionâ) by the end of April 2024. The proposed consideration, as
set out in the letter of intent (âLOIâ) entered with Minera Monte AĚguila SAS
(âMMAâ), includes a net smelter return (âNSRâ) royalty of 1.5% plus cash
payments of up to US$15 million payable upon meeting certain agreed (but as
yet undisclosed) production thresholds. Recognising the development steps
that need to be taken to reach such a stage (including production of a bankable
feasibility study (âBFSâ), permitting, construction, etc.) still remain, perhaps, 7
to 10 years away, such deferral considerably derisks the Project for
shareholders. Orosur, in exchange, will regain complete control of a now datarich, potentially world-class opportunity that is clearly much more valuable
than what was handed to the JV some years back. In anticipation, the Board
is already planning for re-assumption of ownership and operatorship, which
appears particularly timely against a background of record gold prices and a
greater willingness amongst the international mining community to invest in
Colombia once again. With a number of âwalk upâ drill-ready targets already
presented, on-site operations could even re-start before the end of Q2 2024,
possibly in tandem with initial discussions with potential development
partners. Retaining a forward cash runway sufficient to immediately
prioritise such work, the first results could arrive quite rapidly.
:We see fair value at 14.5p/sh on the basis of an undemanding 3.5x EV/EBITDA multiplier for FY25E. We look forward to including the tailings retreatment project in our forecasts once technical, economic and commercial inputs have been defined
Https://electrek.co/2024/03/20/vw-is-ready-to-bring-autonomous-driving-to-large-scale-production/
Https://refreshmiami.com/with-new-office-guident-zooms-into-the-future-of-autonomous-driving/
Https://www.nytimes.com/2024/03/19/well/eat/sodium-salt-diet.html
Angus Energy (ANGS LN) 0.36p, Market Cap ÂŁ15m: Looking ahead post-refi
⢠Angus reported FY23 volumes of 25.2m therms and 32kb condensate production from the Saltfleetby gas field (100% WI) generating £28.2m revenues and £17m EBITDA for the 12M period to 30 September 2023.
⢠An independent CPR on Saltfleetby attributed 4.76mboe of 2P reserves with £64.3m NPV10 at 1 August 2023, which is based on the existing 3 wells currently on production and the addition of two further development wells.
⢠The Company expects to commence a workover programme in 2Q24 on the onshore UK Brockham field (25% WI) to replace the tubing before re-starting oil production in 2H24.
⢠Angus commented that with the successful refinancing of the debt and steady production from Saltfleetby, the Company looks forward to achieving positive operational cashflow this year.
Positive commentary to accompany the 2023 results and the post-period refinancing of Angusâ myriad of debt facilities, which relieves the Company's unsustainable debt structure and provides the capital required for ongoing investment in the Saltfleetby Field and other assets.
The Board plans to focus on maximising the potential from the existing portfolio, including its storage potential and accelerate its evaluation of new projects to complement production from Saltfleetby.
In addition, with the refinancing in place and a strengthened balance sheet, we expect Angus to pursue a growth strategy aimed at acquiring additional production and developing storage opportunities.
Https://www.londonstockexchange.com/news-article/ANGS/investor-presentation/16384023
Https://www.who.int/china/activities/reducing-sodium-in-food-and-excessive-salt-intake/460
Please find the link to the interview :
https://youtu.be/SgHgUOnnmeE
Graham sums up the key takeaway messages for investors post the IMC Webinar :
https://vimeo.com/914699492?share=copy
No change to our BUY rating and 4.6p/share TP
While confirmation of a 6M delay to Phase 1 first gas was disappointing, the share price was up over 10% on Friday as investors were reassured by the Companyâs ongoing progress towards first production and revenues this year. In addition, all of the building blocks for Phase 2 are in place, save confirmation of the detailed agreements, and we look forward to Sound completing the project debt financing with Attijariwafa Bank and the partnership deal with Calvalley that should fully unlock the value of the Tendrara resource. Management is sticking to the plan.
Please find a link to yesterdays Investor presentation and Q&A:
https://youtu.be/GWR68wCx06E
Https://ukinvestormagazine.co.uk/tekcapital-shares-rise-after-portfolio-company-double-whammy/