Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
It is 65p/therm
"The Company takes regular external advice on gas price forecasts. The base case uses the forward curve for near-term gas prices. The average gas price used in the review period is 130p/therm. Since the end of 2022 gas prices have fallen over 20%. This sustained fall in gas price during the review period would result in a covenant breach in the interest cover ratio. At the year end forward curve prices, no covenant breach was forecast. The Company's €100 million bond is subject to covenants that are measured biannually in June and December, being minimum liquidity of €5 million, net debt to EBITDA of a maximum of 2.5x and interest cover of a minimum of 5.0x, based on measures as defined in the facility agreement. The ratio of net debt to EBITDA at 31 December 2022 was 1.0 times and interest cover was 7.0 times. In the downside case, where gas prices are assumed to be 50% below the current forward curve, both the leverage ratio and interest cover ratio are forecast to be breached. In the event that a covenant is breached, an extension or waiver of this covenant would need to be negotiated with the Bond Trustee"
Deltalo
The bond covenants did not need to be serviced in 2019....... the covenants only came into play in march 2022 when the company started producing gas......also when the bond was sanctioned did the company expect the failure of A1 and A2 and the shutting down of elgwood well?....... a big drop in anticipated revenues..
ICE NBP Nat Gas
NGLNMc1
Latest Trade
trading lower
80.85
GBp
Change
-2.75
% Change
-3.29%Negative
As of May 4 2023. Values delayed up to 15 minutes
Today's Range
79.95 - 84.53
52 Week Range
79.95 - 648.47
Seems like good news.....no need to side track H2 and will be online at the end of H2......
Gas price briefly went below 90P/THERM today......break even price for IOG is 65p/THERM....getting tight with those covenants....a delay in the drilling is not going to help.....
They look like roll overs to me....
Before the diamond news and the placings the market cap of this company was £2-3m based on what BP was doing......the market cap now is £18m......so you could argue a lot of positive news has been priced in.....
"as this setback can be rectified easily and I expect the next rns will state that drilling has commenced again."
What makes you such a drilling expert.......keep ramping lol
Deltalo......your nearly break even.......dont be greedy get out of this dog...its only for trading....GL
As I posted earlier......5-10% of Zimbabwe diamonds are gem quality......not as you say 1.5%.... which is only your opinion...not fact......as you like to remind us all......face it for all your waffle you do not know what percentage of the package are gem diamonds......just guessing like the rest of us......could be the whole package for all we know......why would Mugabe take the rubbish....?
What would the market pay for a Zimbabwe gem diamond in the rough ?
All your calculations do not allow for a certain percentage of the package being gem diamonds.........say 10%.....at $400 ct...that adds approx $5m dollars to the $12m valuation for your assumption of no gem diamonds......getting us up to around $17m for the package.....but I cannot imagine for one minute Mugabe would have taken all the rough diamonds without taking any gem diamonds would you?
"Previous auctions of Zimbabwean diamonds have fetched an average of about $400 per carat, but this rises to $12,000 per carat for exceptional items. As a low ballpark, consider that VAST's diamonds are below average, and sell for $300 per carat. At 129,400 carats, that's $38.82 million.15 Feb 2023"
"Are Zimbabwe diamonds good quality?
For a country with so little, Zimbabwe stands to lose a lot. The diamonds themselves are generally low quality, suitable for industrial sale only. Five to 10 percent are gem quality; these fetch a far higher price.1 Oct 2010"
Depends how many are gem quality......as I said not even an expert like you knows that?
Spot price today for Zimbabwe diamonds is $93ct.......about $12m total........but could be more with gem diamonds....