Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Re "taking too long to monetize assets", I think that's a fair enough opinion but I doubt would be intentional.
My view's simple enough - that ECHO came perilously close to the edge last year - investors old and new need to take that onboard - that there's still much to do but the corners slowly being turned.
Someone on the board spoke about building foundations allowing time for the concrete to set. Don't think we can add more to that until we hear from the Co.
Well the bond holders already have a lot of skin in the game and more so than any will want to see ECHO succeed, that means ECHO getting access to funds to unlock its assets but not at any price (does no one any favours).
It’s been a tough year again with tight cash but now see no reason the business can’t build back towards 2kboed pre calendar ye with better weather conditions and for a good slug of that prod to be liquid. Given poo strength a boost for ECHOs free CFs surely
Been away from the board for some time.
Summary seems to be:
Languishing valuation, lack of news - mgt managing cash
Business wants to test CL but not yet - concrete foundations need to set - good analogy
Still some uncertainty around production - possible impact of op equipment failures (short term or long term)
Arg Covid rates down
Low risk assets
Strong oil and gas price
Is now the time?
Any glimmer of light could see momentum build given strong market for OG?
Not much has changed here, only steady progress in a market for commodities that's only gonna get hotter.
Too much wailing and gnashing of teeth in recent weeks over lack of PR from Co, but most driving this false narrative seem to be peddling vacuous drivel and their own agenda. (I want cheap stock!)
Leave MH alone, let me get on with it.
Obvious enough there's news in the wings:
- Workover update
- Positive trading update
- Plans for CL testing
- Plans for MA/CL hub
- Intentions in Bolivia with YPFB
Take yer pick...... ECHO's never been in better shape financially and operationally. End of.
Well that’s LO’s little lot shifted. Can’t help thinking where we would be now had they not dumped all those warrants, still, it was their holding to sell.
Direction of travel is clear.
Whether suddenly, swiftly or gradually; we’ll be back to >1.8p soon enough.
That’s probably the best RNS released in the company’s short history- marks the turning point and completion of the commercial restructuring and turnaround.
Deeply impressed with Martin Hull. An impressive leader and manager. Most apparent. What an asset to the company he is...
At a stroke, LO find themselves in a precarious position of their own making.
Consider the context for the short position that appears to have been opened:
- the company (ECHO) has successfully refinanced
- the cost base reduced / restructured
- stock is closely held, with next to no FF
- the shareholder base is incredibly supportive of the relatively new executive team and
- the company has low risk producing assets in Santa Cruz Sur. with significant near term production upside.
It’s quite extraordinary and highly irregular IMHO.
Silly. Potentially incredibly so.
Time will tell, but I think Martin has been a very busy-bee ;)
Financial restructuring was never seriously in doubt and is illustrative of just how far MH has already taken this company from where is was. Much of the heavylifting of course completed during the pandemic which makes it all the more impressive an achievement. Now to operations and driving production towards 3k.
New focus, new strategy, new commercial outlook, all very much SH value-based.
Promises to be quite a year for ECHO.
Luv to see you run an E&P Co, Barnet.
Much depends on the cards you are dealt and fortunes have a habit of changing...
In that regard I believe ECHO are incredibly fortunate to have Martin Hull as CEO.
The challenge may be to retain him after the ship has been steadied and set on her new track. But the plan looks pragmatic and he strikes me as a man with considerable commitment and will/determination.
Sorry Bob, am gonna to have call you out on that one... ;)
The debt restructuring is incredibly significant to ECHO, of course it is and of course sends a clear and unambiguous message about the potential and prospects here.
In Palermo Aike alone it’s a big enough prize and crucially provides, low cost, low risk cashflow to the business which it can leverage (boosted by the more positive cycle) to drive new projects, which may be multi-dimensional and diverse (possibly including green energy projects as part of the future mix)
Keep watching, there’s time yet.
There’s always that risk of a low ball offer, if someone wanted exposure to that TA western cube with multi TCF potential + steady, conventional production from PA... and a Bolivian option in a prime postcode.
Ugh! it would be mega disappointing but these things can happen- but please, no. Not yet. Give it 2-3 yrs at least ;)
Given the progress MH has made since taking the ship, esp weathering the challenges of 2020, I don’t think it’s passing was ever seriously in doubt. Certainly not in my mind, as wouldn’t make the slightest business/commercial sense.
Not sure there is a ‘right or wrong’ Malkis, just an opinion as to whether this business is a going concern with growth potential and from the cheap seats an answer to both was s resoundingly provided in ydays RNS. So reckon you can safely put the cards to one side. Besides, you’ll be confusing the hell out of them ;)
Amen! to that Taffy- agree 100pc they have a really solid base to now grow the business - A golden opportunity, a second chance, call it what you will, but to deliver the business needs the right person at the helm AND the support of the crowd.
Mr Hull has impressed hugely since taking over what was frankly a bit of a bag of washing. To be where we are in 20months having negotiated the car crash that was COVID etc top marks, BUT we’ve only done the pre-match warm-up. We now need to retain possession and score a couple of early goals before we even THINK about oranges at half time! I want this team to move up a few divisions and with the right manager anything’s possible ;) just ask the gaffer.
Like you, I prefer leeks to celery any day ;)