The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Private individuals can rant as much as they want on a bulleting board, however I suspect the votes of PIs will make little difference to the overall outcomes at the AGM.
FWIW and IMHO, I also believe the Strategic Review / JV / Sale Process has been impacted by geo-politics. On the one-hand Western governments do not want the Chinese to get their hands on such a valuable asset, while on the other hand the Ecuadorians appear to prefer the Chinese being involved. Add to this the 'diverse book' (dare I say), and we've ended up in stalemate with the share price suffering as a result. The million dollar question is, how do we get out of this royal mess?
LoveHandles Posting Statistics:
12 lifetime posts (since 2020). All 12 posts on Empire Metals. All 12 posts of a sceptical/negative nature. Why all of a sudden would someone start posting negative sentiment on a bulletin board for a company which they are not invested in? There's some strange people out there :-)
Marineclark filtered - too much of a personal agenda. Talks it
"marineclark
Posted in: JOG
Posts: 1,269
Price: 262.50
No Opinion
RE: Price rise23 Nov 2023 09:12
Sometimes Rogadar, the fundamentals can shift so that price holds at much higher levels. While the past has relevance, no one can predict the future. No doubt day traders will be selling, and taking the quick profit, but the risk is that they could be missing out on much further gains to come."
"marineclark
Posted in: JOG
Posts: 1,269
Price: 237.50
No Opinion
RE: Share price23 Nov 2023 16:28
Good luck folks. I took profit for 30 percent. Kinda disappointed the price hasnt rallied as much as I expected, and I would have stayed in for a little longer if not for CHAR who have a farmout immiment as well. I'll be back here swing trading, but for now, I'm out. Long term trend looks fantastic here, but as I'm not an investor, and lack the patience to hold for years I'll move my profits over to CHAR.
Good luck all."
Marineclark filtered - too much of a personal agenda.
"marineclark
Posted in: JOG
Posts: 1,269
Price: 262.50
No Opinion
RE: Price rise23 Nov 2023 09:12
Sometimes Rogadar, the fundamentals can shift so that price holds at much higher levels. While the past has relevance, no one can predict the future. No doubt day traders will be selling, and taking the quick profit, but the risk is that they could be missing out on much further gains to come."
"This is a truly awesome deal by JOG who continue to deliver on its promises to shareholders whilst maintaining the intense focus on proving that substantial developments in mature oil provinces can be closer to net zero than almost anywhere else worldwide. It will leave them with a 20% non-operated stake in the GBA, a development that others now share their faith in and a great deal of incoming cash.
In my conversation this morning with Andrew Benitz it was impossible not to detect considerable pride in the trust and perseverance of his team who have negotiated a deal which is a rare thing, a genuine win-win for not only JOG but also for NEO and of course Serica. With some $38m due to come in by the time of the FDP, JOG get a fantastic return on their investment but also for their partners this is a genuinely significant tax efficient investment opportunity.
For JOG shareholders the time has come to stop worrying and to enjoy the ride, they have great value to unlock thanks to this deal, with FDP next year and first oil in late 2026 they have protected any downside and opened up the upside and of course are in an enviable financial position with material value yet to come.
I have been a consistent believer both in JOG and of the GBA, today might be the crystallisation of all those notes and suggested values so it will come as no surprise that I genuinely believe that my Target Price, previously believed to be somewhat absurd at Ā£10 per share to be easily achievable, I remain a big fan of JOG, its management team and of course the GBA."
From:
https://www.malcysblog.com/2023/11/oil-price-jog-serica-longboat-uog/
"The remaining funds of US$100 million being invested by Hainan as part of the Funding Package have been transferred by Hainan to Kodal Mining UK Limited ("KMUK") (a new subsidiary company of Kodal to be owned by Hainan Group and Kodal)."
Very dodgy indeed...especially 'cos they wait until 17:30 on Friday evening to release the RNS. They've probably known for some time that Mr Bollinger's not offered anything but waited until this evening to let the market know. Meanwhile over the last five days someone has been selling shedloads of shares. Crooks.
IMHO, the RNS is saying Kodal will receive the funds from Hainan by 15 November 2023, and the remaining outstanding items with the Mali government will be resolved by 15 November or at a later date. In the meantime, Kodal has agreed to pay back the funds if the licences do not get transferred across satisfactorily. So Hainan have agreed to transfer the funds on a trust basis even though the licences haven't yet been transferred.
Extract from today's RNS below :
"....Kodal continues to liaise with the DNGM to seek completion of the transfers as soon as possible and in the meantime these assets are deemed to be held on trust for the benefit of KMUK, whilst Kodal progresses the Bougouni Lithium project with the funding from Hainan.
Kodal has agreed warranties and indemnities up to US$100 million in relation to the waiving of these conditions precedent for the transfer of the Bougouni mining licence and the Sogola-Nord concession. The warranties and indemnities cover the period from Completion (as defined below) to the point of transfer of the licence and the concession, with a two year period for claims to be made. Kodal will warrant the good standing of the licence and concession at the time of transfer.
The parties are looking to finalise all remaining compliance items as soon as possible with the expected transfer of money (US$117.75 million in total, of which US$3.5 million has been received as a pre-payment as announced on 3 August 2023) for the completion of the Transaction now expected in the first half of November 2023."
Tweet from February showing gas releases in Block SK334:
https://x.com/Uplandtweets/status/1630144957825662980?s=20
"....In addition, the Ecuadorian government signed a preliminary agreement with investors regarding the Cascabel copper-gold mine project, the largest undeveloped mine in Ecuador ( the owner is SolGold in which Jiangxi Copper has a stake ) . The project has submitted an application to enter the mining phase, and the Ecuadorian government hopes to sign a formal mining agreement before the end of the current government term so that the project company can obtain all project construction and mining-related permits to promote start-up capital expenditures of up to 5 billion in 2025. dollar project construction ."
Above extract from :
https://mguba.eastmoney.com/mguba/article/0/1356654862, article dated 7 October 2023.
Hainan MiningAnnounced on September 28 , as of now, Kodal Minerals PLC ("KOD") has completed the debt restructuring of its wholly-owned subsidiary Kodal Mining UK ("KMUK") and completed the acquisition of its local subsidiary in Mali, Le Minesde Lithium de Bougouni. Registration of SA ("LMLB"). At the same time, except for the exploration rights of Sogola Nord which have not been transferred to KMUK due to pending renewal, the mining rights and exploration rights of other Bougouni lithium mines within the scope of the transaction have been vested in KMUK. In view that the delivery procedures involved in this transaction have not yet been fully implemented and confirmed in writing by both parties, the latest delivery period will be extended to October 31, 2023 or a later date confirmed by both parties.
Above from :
https://finance.eastmoney.com/a/202309282861665051.htmlć