Member Info for Gavster-NBC

One of the last big ftse moves from around 7500 to the 6800s saw Seplat go down well over 10%. Which for me is significant enough to show restraint on my buy.

"Errr .. is there a significant correlation between the FTSE100 and Seplat Gavster?"
Yes. There's always some. On those day the whole market goes down 5%, I would not expect Seplat to root to its spot.

Hi damofarl, Temple et al.
Yes damofarl, as I think we agreed a while ago, lower risks and higher risks seem to be visa versa these days which has led to my increasing on dividend investments.
My last buy of Seplat was at 97, which I saw as support, which was subsequently then broken. Temple points out a similar walk down in SP last year which led to a good price for my DRIP at the time, but that was well before the price of oil spiked up, and Seplat is behind in a comparison to the oil price long term.
I'm still a bit hesitant to buy more at todays prices simple due to the ftse being so high (I can't be the only one expecting another drop, even to below 7000 again) and any more effect on the POO, especially with the 60$ Russian effect, that said the divi lands in the coming days so there should be a DRIP uplift.

Seplat stock price on Nigerian Exchange is 1,050.00 NGN. Thats 193p when converted on xe.com
https://afx.kwayisi.org/ngx/seplat.html
That's a much bigger gap than I remember..

59% of Shareholders against the issue of shares, 38% against issuing for the directors.
Not just a good company, pretty good shareholders too.
Quite surprised the SP is still languishing in the 17s a week before ex-div.

Hi damofarl
"rebates 50% of fees when SP is under NAV"
Surely the quickest way to do this would be to raise the dividend back up, not a buyback.

BBC News - Energy company to review green projects after levy
https://www.bbc.co.uk/news/uk-63687512

But Alistair Phillips-Davies, the CEO of SSE, said while the company believes in "paying their fair share" in taxes, the decision "is going to take money away from us".

He told the BBC's Today programme: "We still want to spend, we still want to invest but this windfall tax is going to hit us.

"It's going to take money away from us, and therefore we won't have as much to invest."

Asked whether the company will have to review some of its key investments, the CEO said "there is no doubt".

"To say that imposing a 45% windfall tax on some areas of our business will not impact investment plans is nonsense," he added.

Only nipped outside to do some DIY for a few hours and come back to see my average being broken. Surely this isn't the acquisition but a reaction to the POO going down.

My immediate inclination is to do nothing.
Anyone know what's their full reasoning behind this offer ?
"TwentyFour Select Monthly Income Fund Ltd is offering to repurchase 20% (basic entitlement) of its own shares by way
of a Tender Offer, at a price in cash to be determined on 30th December 2022. Your options are:"

Is this buyback really that great or as you say damofari, the main reason is to mop up sales, or even provide a means for a larger holder to sell out (which is obviously wrong to suggest but we'd be naive not to underestimate the power of a wink and a nod). Only if sellers are prepared not to sell less than $0.48 will it provide a floor, and likewise I'm fine if that continues for the mid term through relative turmoil elsewhere.
The $20 million pledged is being spent at a rate of around $25000 per day will currently take 2 to 3 years. Once spent there will be around 11 percent less shares.

Hi Temple et al.
I remember you correcting me on the gas obligation many months ago. So your post implies it's a fixed amount of gas annually rather than a blanket obligation of all gas production ?
How negotiable is the obligation volume of gas and price of the gas ? Could any gas sales to the EU ever happen directly with Seplat ?
Before I burrow away and add this to my study list, Seatank/yourself might know the answers straight off.

I took some profits today at over 30p as that was my target reached.
No doubt this will be the sign for the SP to continue a relentless rise to the 50's.

Is going nuts today, over 2% up. Chartwise. Broken out of the Downtrend, making a reverse triple top.
An SP in the low 20s here would still be super cheap for what this company should achieve in the coming few years.

So looks like this is the annual rise into the November Trading update.
The question for me is can the pandemic recovery take Velocity back to 2019 figures ?
Then a Plus 30p Share price to match.

Yep.. Hi Jack. Holding. Patiently waiting for the mid to high 20s to return.

Hi TD2.. Had to double take.. But Yeah, I'm right, no more production, in fact it's even worse that the low production they did have wasn't even economical, and not hitting the 7.2 ended up kind of meaningless.
Shocking management to expend all that money on un-proved production without a measured resource and feasibility study as a back up. Not that it mattered to them, no doubt those in the know sold when the price was high, whilst the story of mega this and that was being pumped. I can't imagine anything other than a fire sale or massive dilution at 1p to complete the feasibility study.

Arguably because there is no production, no measured resource, no BFS or even a PFS, viewed as extremely high costs per ounce and now have no money. Priced like a junior minor. IMO the real question is why this was valued at 100s of millions in the place, at a time when they didn't even have a production guidance.

Hi Winstonwolf.

Welcome to GAL, It's very slow moving, quiet sub-committee of the Stock exchange and LSE discussions.
I saw the catastrophe of Pure. Have to say I was amazed people were sucked, even when the market cap was half a billion and more, they never actually said what their processing capacity was so what they might actually earn, nor did they have a finished BFS. Anyway, better out of it IMO, it's a gamble now, and subject to Sprott games, as are we here.

There are loads of GAL warrants which may magnetise the SP a bit lower, but we know that the historic capacity of the processing plant was around 12000 ounces a year, so this must be the first target. But so far no declaration of production which the longer doesn't happen, the more annoyance as investors I (and we) will have, as it should be now. Patience is not endless.

There are some anti-mining activists that appear on the board now and then and they have been successful in delaying the project for years in the past, which hurt the local economy but made them happy temporarily, even though IMO, the best way of funding the land to go back to it's natural beauty is to let the mining happen, so it can be paid for.

That all said... If the herd ever notice this is a bargain when production and measured resources loom the SP would rocket.

Presentation from a roadshow presentation for debt funds as they are looking to fund Mintails (I Imagine).
Linked from this page
https://www.panafricanresources.com/investors/domestic-medium-term-note-programme/
Direct Link
https://www.panafricanresources.com/wp-content/uploads/Pan-African-Resources_Debt-Investor-Roadshow-Oct-2022-draft-6-complete-final.pdf

Note they save ZAR3m/month ( ZAR36m/year) from their solar plant, and plan to build more.
AISC is just about at Average for the sector.

SD235. Good point that should have read. "will not want interest rates raised". The Tories certainly didn't, and they're all resigning. What was obviously moronic was Crazy Kwarteng's budget making reasons for the hikes unacceptable by the population and market.
I definitely think you should take the wide spread and buy TORG and I hope you'll enjoy posting your comments and start an engaging enjoyable discussion on that LSE page.
https://www.lse.co.uk/ShareChat.asp?ShareTicker=TORG&share=Chenvari-Toro