Member Info for ICB888

We need to have chapter and verse on this:

“ line with best practice corporate governance for AIM companies, Chariot aims to remunerate its Directors through an appropriate mix of cash and share awards, thus aligning their interests with those of its shareholders. With this purpose the Annual Bonus Scheme looks to reward the achievement of pre-defined corporate performance targets through the grant of deferred bonus share awards based on the extent to which these targets were achieved during the preceding period.”

What are the predefined performance targets? If they don’t include the share price being at least 25p it’s a total disgrace.

Now up 14.8% at 22.25p on volume of 640000 from just 52 trades. There is very little selling and a lot of stock is in safe hands with the Directors and large shareholders which is moving the share price up on low volume. It could just go ballistic at any moment.

Condor starting to soar. Up10.2% at 24.25p on volume of 473000.

A 525000 trade from yesterday evening has just been shown which follows 2 other similar size trades from yesterday evening which were shown first thing this morning. Not sure what the significance is and they don’t appear in the daily volume figures.

Now Up 5.7% at 23.25p on volume of 308000 from just 13 trades. The last 3 trades were at full ask 23.5p so a further move up looks imminent.

Moved Up straight from the opening. Now Up 3.4% at 22.75p on volume of 151000.

Your open offer shares listed on Friday should now be in your account and available for trading. In my II account I received 46% of the extra shares I applied for.

Extract from RNS:

“Electricity trading will bring an additional revenue stream into Chariot and further enable Chariot's participation in large renewable projects in Southern Africa.

Benoit Garrivier, CEO of Chariot Transitional Power commented, "We are very pleased to be increasing our exposure to the South African energy market by acquiring this additional stake in Etana. We will not only get an increased split of future revenues, but the electricity trading business unlocks significant renewable generation capacity which we are looking to develop in South Africa. We are tapping into the future growth of an essential market, one that is rapidly transforming and expanding, and we look forward to playing a material role within this together with H1 and other major commercial partners."

Good to see Renewable side making further progress and improving its revenue stream.

The following is the concluding paragraphs to a Kitco article on junior gold miners this weekend:

“Accumulating a basket of these juniors capable of riding out the storm until the sector turns have the most upside potential with the lowest downside risk, as most of them are now trading at perpetual warrant prices.

The last time we saw a similar set-up in the gold stock complex, creating a low-risk opportunity in best in breed juniors at fire-sale prices, was in late 2015 which proved to be a significant bottom. Once the algorithm switch flipped from ultra-bearish to newly bullish during the second week of 2016, both GDX and GDXJ surged over 140% in just 6-months, while several quality juniors experienced 5-10x gains.

Recent events have created a generational opportunity to accumulate historically undervalued quality precious metals related juniors ahead of the most important gold breakout in over 50-years. But with so many lifestyle juniors littering the playing field, proper stock selection is key when accumulating a basket of juniors to hold before the next major up-leg takes place.

Once gold breaks out to new all-time highs, the mainstream media will start paying attention to gold stocks, while momentum traders and fund managers will begin moving into the under-owned junior space. With most generalists still on the sidelines, it is best to position oneself before the herd comes into this tiny sector.”

The rise continues Up 2.6% from 6 trades and volume of 91000. Looks fairly certain CNR will end the week above 20p having started it at 15p.

Up 5.5% at 19.25p on volume of 1.7 million. The last reported trade was late reported from 3.28pm a 100000 Buy at 20p. It is looking promising for the rise to continue tomorrow.

With the FT up 2% the current focus is on the large caps and the small caps are mostly quiet so far. Hopefully as the day goes on interest will return to the small caps and they will start to rise.

Just for background Gold currently up at 2036 and Newmont the largest gold miner is Up 5.9%. We should see a positive start for SHG this morning.

Gold shot up on US Fed statements currently 2027. That won’t do any harm to a continuing rise tomorrow.

If the notice people received had been genuine there would have had to be an RNS announcing its issue. My first port of call would have been to look for the RNS, which wasn’t there. Your suspicions should have been aroused and posters should not have started suggesting placings were coming before checking with the company. There was nothing to suggest a placing in the notice you were sent. The posters who got involved in this to spread fear of a placing should be ashamed of themselves. The deramping ended what had been a good rise that would almost certainly have taken JLP above 7p. Let’s hope the rerate will continue tomorrow when everyone realises the notice was issued by a third party and was nothing to do with JLP.

All gold stocks particularly junior ones are trading at very low valuations as is often pointed out by the commentators. SHG is a case in point on all normal metrics it should be much higher than its current price of just under 12p. The median analyst target for SHG is 25p. It is therefore arguable that SHG has a value of £240 million. CNR have been marketing the assets with a NPV of £400 million so £200 million is a very significant discount. Hopefully we won’t have to wait too long to find out who is right.

“Response to Shareholder Correspondence Regarding a General Meeting

Jubilee, a diversified and leading metals recovery business with a world-class portfolio of projects in South Africa and Zambia, notes the speculation regarding a possible general meeting and shareholder resolution, which seems to stem from an administrative error unrelated to Jubilee.

The Company wishes to confirm that no notice of general meeting has been issued.

13 December 2023“

In light of this afternoons RNS would the deramping traders desist from posting garbage noting tha FSA warning that posting false or misleading information may constitute market abuse.

We are pretty much in the position we were last December with the shares issued at 15p as the sale process was announced. I just looked at a post I did on 1st December last year which includes Condor’s valuation. It is as relevant today as it was then but more so because then higher gold prices were being talked about, whereas now it is a proven reality.

“ The valuations that are being suggested are not the figures I would be using if I were Hannon. They should be presenting the big picture not just what is being presented in the BFS which is on a relatively small part of the total assets in order to keep the initial costs down and then expand on cash flow. A big miner will not have those constraints and could fund a bigger operation from day 1. Let’s also remember that other drilling has been done which supports the view regularly stated by Mark that this is a 5 million oz+ gold district. This potential has to have a significant value attached to it. Let’s look at something Condor published last year:

“ On 25 October 2021 Condor announced the filing of a Preliminary Economic Assessment Technical Report (“PEA”) for its La India Project, Nicaragua on SEDAR https://www.sedar.com. The highlight of the technical study is a post-tax, post upfront capital expenditure NPV of US$418 million, with an IRR of 54% and 12 month pay-back period, assuming a US$1,700 per oz gold price, with average annual production of 150,000 oz gold per annum for the initial 9 years of gold production. The open pit mine schedules have been optimised from designed pits, bringing higher grade gold forward resulting in average annual production of 157,000 oz gold in the first 2 years from open pit material and underground mining funded out of cashflow”

That just relates to La India Project so 150000 ozs per annum for 9 years is 1.35 Million ozs at $1700 . The total value of the gold mined would be US$2.295 BILLION and of course many people believe gold will be much higher than $1700. If we say the costs to mine it are 50% of that the profit would be US$1.147 BILLION. If there are 5 million ozs multiply the profit by 3.7 to get to a profit of US$4.25 BILLION.

Hannon should be able to convince buyers £1 per share is a reasonable starting price for bids when the ultimate profit will be so high. £1 per share would require a bid of £159 million based on the present shares in issue.”

More shares in issue now but arguably the valuation should be higher because of the gold price and as we all know as the gold price rises it has an exponential effect on profits.

The company is on record that there is no need for equity dilution. Indeed the important point in yesterday’s news is that the finance to rapidly ramp up copper production is provided by the SPV partner. The market realises this is a complete game changer and the unwarranted fall in the share price over the last year and longer will now be rapidly reversed. The derampers caught out by yesterday’s rise are now peddling their usual garbage which people are calling out as such.

The sp has been above 7p already this morning. It now looks to be taking a breather before pushing permanently above 7p.

Now Up 23% at 6.5p on volume of 10.1 million.