Member Info for garyn

Will Afentra want the INA asset without knowing for sure that it is also getting the Sonangol stake in 3/05? I’m not sure that one happens without the other. Personally though, I don’t really care how long it takes to complete within reason, as long as it ultimately goes ahead, as we are effectively ‘earning’ revenue as if it had already happened anyway (only if it completes though of course).

Denziiil - something I pointed out the other day on Twitter, we aren’t the only ones waiting! Also I think it is worth remembering that Angola has regularly come in under its OPEC quota recently so will want to rectify that I’m sure (new partners coming into these assets and investing in them will help achieve that).

Can’t see how that would have any impact on a new PSA with the existing partners in the asset? Which seems to be the stumbling block, certainly with the Sonangol deal anyway. Obviously there is risk that either deal might not complete - but I don’t see that being any greater or lesser than it was weeks or months ago. If London cleaned out all Russian investment in companies listed there, an awful lot of money would flow out and it would be far bigger than just Afentra!

China is already largely factored in, in my opinion. The re-opening seemed to be widely known before it was an bounced as well - certainly some of my contacts there were talking about it (I tweeted about it a few times as well a good few weeks before it was announced officially). My main point was though really, that Afentra doesn’t need oil at anywhere near those sort of levels to still do well from 3/05 (if it completes)

Obviously everyone has their own opinion on this (I’d seen the Russia news prior to my last post anyway). But if oil got anywhere near that level, and with inflation already running at the levels it is, I suspect we’d see things going very bad economically long before it got to $140. Just my view though

I would be amazed if Brent even gets back to $100 level this year. The current range is more than sufficient though for Afentra to do well from these 3/05 (assuming it completes on them).

All seems to be hinging on the extension currently (as you’d expect). M&P made a mention of it in one of their recent updates and suggested that an extension was close.

I think people forget how well they’ve done to get the asset that they have (assuming the deals complete of course). It’s a lot bigger than most were hoping for before these Angola assets emerged as an acquisition target for the company, and even then I think most expected them just to get the exploration block they also bid on!

Only if they want to breach copyright…

If they do have to sell - I’m not convinced that they will - then it is going to have an impact on a few shares where they hold positions (I haven’t looked at their holdings in detail, but know they also have PTAL). I’m happy to continue holding as I bought on for the chance of an acquisition, the target of which ended up being bigger than I expected, and this far looks on track to complete as planned.

This might help explain the structure: ‘Mode Global Holdings Plc is a United Kingdom-based holding company primarily engaged in the financial services business. The Company’s subsidiaries include Mode Global Limited, which operates cryptocurrency treasury function and digital wallet product; Greyfoxx Limited, which is an electronic payments administrator; JGOO Limited, which operates the global services platform; Finbermode Limited, which facilitates crypto trading, rewards and cashback for its customers, and Fibere Limited, which is primarily manages the mode store selling retail items.’

It’s definitely that MGL - the liabilities show in their accounts on Companies House (although are a year behind due to being limited not the PLC). In terms of the CVA - 75% of the creditors have to agree on that, based on the amount owed to each. Aside from the outstanding trade payables I mentioned, there is of course also the outstanding £1.4 million odd of loan notes that haven’t been converted and are due for repayment later this year (if not converted).

Mode Global Limited is the MGL referred to - wholly owned subsidiary of the PLC. It isn’t the creditor - the RNS actually refers to creditors of MGL (ie people it owes money to and which will include at least some of the £2.2 million in trade payables - creditors - that it had as at the end of June 2022 and as per the interim results).

Exiting FTSE250 in March seems likely given the market cap now, which will cause tracker funds to have to sell. It’s certainly rare that such a move has a positive impact on the SP anyway and has been one of the factors stopping me from taking some as a potential recovery buy.

It’s all rubbish - SEC rules mean that a SPAC in the US has to make an acquisition for at least 80% of the funds it has on trust (which were around $236 million for this company, doubt it has changed as still trades around the $10 mark - all SPACs sell shares in $10 units). So, unless they’re going to pay around $184 million for MODE it can’t happen!

Bought more at a price I didn’t think I’d get - although I wasn’t expecting the deadline to be met (it’s Angola!) given that completion is dependent on PSC extension and there had been no news on that front. Pleased to see production looking strong. As long as the deal goes ahead, I don’t really care when that happens! Some of the idiots trying to pump this yesterday - usual lot from a telegram group and different share every day - didn’t even know a deal is in progress!

I think people are aware that a deal is imminent - given that we are just waiting for it to be signed off by the government. Was due to happen this quarter. Probably see the share price take a dip if it doesn’t happen within the long stop date.

Looks more like a change of control of how/where the shares are held.

$600/t saving once you factor in other costs associated with the supply of power. Still a significant amount though on an annual basis.

That report was published on November 2018 and it looks like the period covering years 1-4 includes the mines construction (given the Capex costs and forecast revenue, plus the very low operating costs - I’m guessing that was based on when they originally expected to reach production). A lot of that is now out of date anyway - nickel price is very different for a start.