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I just watched a video of Jim Mellon at Master Investor Show a couple of weeks ago. As you would expect he included Condor in his recommended investments as part of his theme of the importance of gold in the current global economic and political situation. He agrees with some crypto guru who sees gold at 3000 to 4000 in the next couple of years. In his opinion Condor is massively undervalued. So Condor would start producing gold at a very profitable time if he is right. It should also increase the interest of potential bidders for CNR.

The Directors should be held accountable for organising a total shambles where nobody knows how to value the shares.

It doesn’t really matter what you or I think of Larry Fink or green energy. The point is Blackrock are one of the largest Investment companies on the planet, so if they like green energy they will invest massive amounts of money in it. It will be interesting to see if they take an interest in CHAR’s project which will be a major green hydrogen project on a global basis.

I was just watching Jim Mellon’s talk at Master Investor a couple of weeks ago. One of his 3 investment themes to be pursuing now is Transitional Energy which is of course very pertinent for CHAR. However the point I wanted to share on the day we had an RNS about our Green Hydrogen project was a quote he had on screen from Larry Fink the Chairman of Blackrock:
“It is my belief that the next 1000 Unicorns… won’t be a search engine, won’t be a media company, they’ll be businesses developing Green Hydrogen, green agriculture, green steel and green cement”
Chariot in the right place at the right time with 3 shots at being a Unicorn.

From the last results:
“ The net asset value of the Company at 30 September 2021 was £23,353,000 (31 March 2021: £24,939,000), equal to net assets of 10.98p per Ordinary Share (31 March 2021: 11.72p per Ordinary Share).”
The current discount to NAV is frankly ridiculous and then of course there is Leap which will give a massive boost to that NAV.

A good set of results from Wentworth shows what we can look forward to when we are producing and comments on Tanzania:

“ Katherine Roe, CEO, commented:

"2021 was an excellent year across the board for Wentworth during which we demonstrated our commitment to responsible growth whilst increasing considerable shareholder returns. We are delighted that through our progressive dividend policy and active share buyback programme we saw a record $6 million returned to shareholders in 2021. Our ability to deliver on this is underpinned by our robust financial position, no debt and ongoing cash generation.

"We are also very pleased to have seen record production for the year with a 25% increase in average daily production compared to 2020. This underscores the quality of our asset as well as highlighting the improvements in industrial demand in Tanzania enabling us to further increase our production guidance for 2022. We are also very proud of our exceptional health and safety record. 2021 marked five years without an LTI and it remains an absolute priority to sustain this performance year in, year out.

"We believe in the value opportunity from aligning business and society interests. As such, we are committed to playing a significant role in supporting Tanzania's commitment to deliver universal energy access by 2030, aligning with the UN's ambitions. We continue to be well-positioned alongside our JV Partners, Maurel et Prom and TPDC, to deliver on this and be a key part of the solution to supply growing demand.

"We would like to thank our shareholders and stakeholders for their continued support as we look to continue to deliver on our strategy of responsible, sustainable growth through delivering reliable, domestic energy supply to communities across Tanzania."
I do keep wondering if Wentworth might buy SCIR’s stake in AEX.

SEED currently holds 8.85% of EUROX.

Assuming the entire share capital of EUROX is valued based upon the share price of the Fundraise, SEED's increased holding in EUROX would be valued at €5,039,000 (£4,207,000) at today's exchange rate), inferring an increase in valuation on a like for like basis of £1,484,000 compared to the carrying value in the Company's Interim Financial Statements as at 30 September 2021.

He said the other party did not want to do toll mining at the moment . So not ruled out but not likely now. The other comment I picked up was the BFS should be out in”a few weeks “. He sad that on 19th March so by the end of this month would fit that timeline. Mark didn’t do a Results interview so I am expecting the BFS soon so he doesn’t get negativity about missing the March 31st deadline in an interview.

TheeDuke
It was Meinhard , I think at the launch of Dtransfer,who said Satoshipay had the potential to be a Unicorn on securing less than 1% of its target market. So the £1 Billion was in Meinhard’s head before Pendulum was announced.
The future is bright!

Morgan Stanley have been buying and have just notified a 5% interest not having notified an interest before.

I think the II’s will be happy to step in and buy at yesterdays prices as the day progresses.

Highlights



· Portfolio companies Yooma, SWB, and CiiTECH have featured on the FSA's list of CBD products that may stay on the market in England and Wales

· Products which appear on the list are linked to novel food applications which the FSA already validated or considered that are sufficiently progressing towards validation

· The UK becomes one of the first countries to regulate the sale of CBD products as foodstuff to consumers





Alfredo Pascual, VP of Investment Analysis of SEED, commented: "We are very encouraged to see the inclusion of a number of our investee companies' products within the FSA's public list of CBD products that may stay on the market in England and Wales. The hard work being carried out by our portfolio companies to meet the UK's legal and regulatory requirements indicates a high level of level of commitment to quality and safety, bringing much needed clarity to consumers.

"We welcome regulatory certainty in the sector and look forward to further progress as the sector continues to establish itself."

May be it means this month which is also in H1 as indeed is tomorrow. I believe he was close to hitting 31/3/22 and therefore an overshoot of 3 months seems highly unlikely.

I am on a different planet] to you.

Jungmana
I note your 12 month target of £1 and it seems highly likely that when the reserves are announced the brokers will be increasing their targets to that level. But we should remember that when those reserves are issued the likely hood of bids arriving will be high. As mentioned on the board earlier, in order to succeed a bid would need to be in the £2 region. We should be in for an interesting few months as the rerate continues. We then have all the other businesses which will be delivering news and increasing in value.

“The outlook for 2022 remains bright. The La India Project is substantially de-risked and nearing a construction-ready status. A FS Study is due in the first half of 2022, the Project is fully permitted for construction and extraction with a target of 100,000 oz gold p.a. in stage 1. A new SAG Mill has been purchased and is in a warehouse in Managua. The Project economics are robust with low AISC, a high IRR and a payback period of 12 months.”
That is the concluding paragraph of the Chairman’s statement in the Results RNS. The target for the BFS was 31st March and we are now told it will be in H1. My impression from the report is that there is very little outstanding to be able to complete the BFS and it will therefore be issued soon. It could land any day now and I think we will have a good news flow during Q2.

Viera
Could you perhaps give a little background to your jump to 0.6. I appreciate you say 0.6 plus but the starting point seems conservative. Is it based on Pendulum news coming before Dynasty?I recall you saying that you could see Big Tech pay upto £250 million to secure Dynasty. If we call that £200 million that would be worth £26 million to BLU. Your 0.6 implies a Market cap of £30 million which is 50% higher than our current £20 million at 0.4. In that scenario 0.6 would only value Satoshipay and all other investments at £4 million.
Clearly the figure for Dynasty could be too high. I just wonder if you could share how you got to the 0.6.

The relevant extract mentioning Scancell
“ Instead of using the spike protein of SARS-CoV-2, which is prone to mutations, as the key target for coronavirus vaccines, researchers are assessing other parts of the virus that are known to be more stable.

For example, scientists at the University of Nottingham in the UK are working alongside pharmaceutical company Scancell and Nottingham Trent University to test its COVID-19 vaccine candidate, SN14, which targets both the spike protein as well as the nucleocapsid, or N-protein. By targeting this additional viral structure, which is far less likely to mutate, the vaccine if found safe and effective could work to protect people against COVID-19 irrespective of any mutations to the spike protein and, in theory, could work across other coronaviruses.”

There should be a positive ISA effect all week as Monday and Tuesday will be the last opportunity to use up this year’s ISA allowance. Then on Wednesday 6th April you can put another £20000 in and start investing that. CHAR’s rerate is kicking in now and one would imagine investors will be keen to protect their gains in an ISA.

It is April fools day! ??