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Pretty good as far as it goes imo. I wonder which “top tier IIs” took part, and is the raise a bit temporary again given the context perhaps? Might they have raised more of a long term war chest? It complies enough with the July assurances, although from the market reaction it looks like shares could be available on market at 6p anyway. The pipeline “expected to close in the next 6 months” looks strong, fast and ambitious. But if the 4 Q4 investments proceed say at ca £2m each (they must all be well advanced already), we could be through these funds and needing more, before the Christmas tree’s up. If so, on what terms would those new funds be raised, bearing in mind that in an AIM company fund raise, 9 times out of 10 a PI gets royally buggered? Would we have the same assurances as for this current raise, for example? I’m happy for now though, we’re listed and cashed up with a plan, and the investment case is so strong, I’m confident for the medium/long term anyway, even if this RNS might not have nailed down the funding question for very long. IMO.

Well if this rise means Jim's raised funds and stuck to the 6p+ NAV and participation-on-equal-terms assurances, the only question will be whether to buy him a pint for achieving that, or pour one over his head for putting us through that de-listing nonsense in the summer. We'll be smiling whatever though :-)

Believe it when I see it, but certainly looking good atm. Looking forward to an RNS soon perhaps...

If not gold, maybe a rare earths/battery metals project? They're all the rage. MKA/PRE/SAV and others all flying atm.

Horrible day, but I agree presumably the news is being digested of the Podemos-driven proposed amendment to the climate bill effectively seeking to ban U mining (in there with some other more sensible stuff). A long-expected amendment, but the market seems to dislike how it’s framed, prospects of support and the uncertainty created perhaps. The ideological tail’s wagging the coalition dog here. How many parties/MPs will actually end up voting for this attempt at national self-harm, is to be seen. They’ll carve it out and reject it hopefully, after consideration, parliamentary debate and all the brown envelopes have been passed around. The joys of Spanish politics and redundant ideology.

Rare Earths plan B, compensation, the history of significant progress and support for the project and the increasing need for U, should provide some SP support even in the current worst case scenario. And the next government can’t be far away. Perhaps the bride’s nightie routine for the SP for a bit as the debate tos and fros publicly, but it’s a hold imo.

We're perhaps past the time for a "ORM are not aware of any reason for the SP rise etc" RNS, so I guess they are aware of a reason, and judging from the SP it looks like good news coming, very soon

https://www.lamoncloa.gob.es/lang/en/gobierno/news/paginas/2020/20201007recovery-plan.aspx

https://www.lamoncloa.gob.es/presidente/actividades/paginas/2020/071020-sanchez_plan.aspx

Spain's recovery plan (at last) re the EU loans and grants funds package.
Pt 1:
The first is the Urban and Rural Agenda, the fight against depopulation and the development of agriculture. This policy concentrates 16% of resources and its objectives include improving the habitability of urban environments and responding to the needs of the rural environment, maintaining the population and promoting employment.

16%, not a huge amount, and we know the vast majority of the funding required has to come from the private sector anyway. Permitting Retortillo would unlock the substantial private capital funds from BKY, provide an income for government, and help achieve the stated goals, and help de-carbonise the economy.

Spain are also committing to ever more ambitious emissions reduction goals. That ain't going to happen with renewables alone.

PS The government has announced support for Hydrogen too, although renewables won't be able to provide the power needed to produce the hydrogen. Renewables won't be anywhere near sufficient on their own to provide even the country's basic power needs, let alone the power to produce the hydrogen too.

BYND's absolutely flying on the back of that news about tripling its distribution in Walmart. If ANIC's picked tomorrow's winners in its portfolio, this really will fly. Subject to funding of course.

V interesting P1D.

https://www.youtube.com/watch?v=teLkcoYxYvQ
John Borshoff makes the point about needing nuclear (in moving away from fossil fuels and because of the limitations of renewables) to make the hydrogen at 33:30. Complementary tech, applicable worldwide not just in Oz. Thanks to Troajan for this link.

PS I like PHE for Hydrogen too.

Can’t say I’ve got any confidence about this exclusivity agreement given the track record. There was no substance announced at all. It may literally just be a drunken scrawl on a beer mat somewhere, to give the impression the bod are doing something. Henry is voicing excitement, but he would wouldn't he?
Hopefully I’ll be eating my words soon as news breaks of the mother of all deals. But maybe we're being led up the garden path.
I agree they've had long enough now to put something together or return some cash.
And what's Tom Anderson up to?

Any progress under this exclusivity agreement then? Announced 16 Sept (tacked on to the interims RNS). Re an “exceptional resource opportunity”, but we were given no facts or detail at all. For how long, what, where, when, how much?? Etc etc
Put down your guitars and tell us something.

https://www.lamoncloa.gob.es/presidente/actividades/Paginas/2020/290920-sanchez_onu.aspx

Nothing inconsistent here with permitting. Plenty about the importance of the local level, (where in BKY's case the Urbanism licence has been granted), jobs, private project financing, leaving no-one behind and the "innovative rural environment" etc

Also, if you believe this, Spain seem to be cosying up to Iran, seeking to expand economic ties, and reiterating their support for the JCPOA (recognising and covering progress of Iran's "civil" nuclear programme). Is it perhaps a little inconsistent for Spain to be trying to forge friendships like these, with a difficult country which is trying to aggressively expand its nuke programme and ambitions, whilst simultaneously pursuing an anti-nuke stance at home...?

https://en.mehrnews.com/news/164126/Iran-Spain-discuss-expansion-of-economic-relations

BYND announcing major expansion in Walmart today too. SP up 10%+.

It’s about the shape of the long term funding imo.
To my mind, the conundrum is why the bod have seen fit to blow the whole of the Mellon bridging facility, and large amounts of cash to boot, in less than 3 months flat. (I’m sure Mosa and Solar are great investments btw, I’m not saying they’re not, just wondering where the money’s going to come from from now on).
It seems to me they’ve either been overly gung ho in buying into Solar and Mosa, and we’re now financially hamstrung and back to square one again, or they’re confident long term funding is achievable on good terms in short order. Let’s hope it’s the latter.
But just 3 months ago, the bod felt access to capital was limited, and the best bet for the substantial funding needed was de-listing so as to better access private capital. Has that situation turned around in just under 3 months?! Great (if not a little suspicious) if it has.
Ryesloan, I think you’re envisaging that private capital might have been lined up to go in on de-list, and that a version of that may also be achievable now.
A “hold” for me until longer term funding’s clearer, though.

https://www.bbc.co.uk/news/science-environment-54211450

Interesting beeb article. The BoJo government's committed (although it's not clear what that means). As the article considers the human deaths from eg Chernobyl (awful but limited in number), IMO it could have benefitted from emphasising the huge annual death toll from ambient air pollution, basically from hydrocarbon fumes (in the millions according to WHO). Reducing these emissions to help avoid general catastrophe is rightly a focus of climate change law of course.

https://www.who.int/airpollution/data/en/

Also, modern reactors have proper containment buildings and produce much less waste, and really aren't like Chernobyl any more. Safer, clean, essential baseload power.

https://www.lse.co.uk/news/CNE/

Vodafone have won theirs. No comment from India.

I believe that's the whole of the Mellon facility used already (in just 3 mnths), so hopefully we can infer there's another similar one waiting in the wings, or even better the longer term funding's imminent. Hopefully the bod haven't been overly bullish (sorry about the puns today) buying into Solar and Mosa. There's limited financial wriggle room left now to participate in other investments, new or existing.

Which herd are you talking about Stretchum lol!?

Funding news on the way hopefully.
It was perhaps quite a bullish move on the face of it to invest in Solar Foods, €3m of existing funds including a small sum from the Mellon facility, into this brand new investment.
The rationale behind the proposed de-listing was perceived problems raising funding without private equity, and so eg dilution in the existing investee companies in their equity raises ANIC couldn’t then participate in. Therefore you’d perhaps expect the bod to be acting cautiously and defensively for now, and preserve cash, and only use it to avoid dilution in existing investments, rather than making new investments. So does the Solar investment indicate the bod are confident long term funding is now imminent?
About to pop? Imo ANIC has to prove itself fundable and funded on reasonable terms first, even if NAV improves.

Sanchez taking a lead in Austria on climate change, alongside Arnie

https://www.lamoncloa.gob.es/presidente/actividades/Paginas/2020/170920-cumbre.aspx