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I’m positive about the outlook here. I think we will see a takeover . Rupert was buying shares at 4.5p back in March.
Seen bond holders taking equity before is situations similar . Results in a huge multi bag
Oil price also moving in our favour.
Cant buy a bean. Looks like the RNS confirming waiver sign off coming out. A few bags if waiver signed
Strategic asset
Coringa, located 200km (125 miles) away from Serabi’s Palito gold mining complex in the country’s north, is expected to double the company’s gold output once at full tilt.
Combined gold production from Palito sits currently at about 40,000 ounces per year. The Coringa project is forecast to yield an average of 38,000 ounces once in production.
The project is located in the Tapajos region, in the state of Para, which is reported to be the world’s third largest alluvial gold field.
Serabi Gold believes that the region is a major, under-explored mineral province as historical data shows that artisanal miners, called “garimpeiros,” have mined about 30 million ounces of gold mostly from alluvial and surface weathered bedrock deposits in the region since the 1970s.
Https://twitter.com/investingcom/status/1686058220945653760?s=46
On the basis of the detailed examination undertaken, the Board felt justified in maintaining the investment case for the Etinde valuation in excess of $150 million and hence concluded that no impairment was deemed necessary at the current time. The Board feels that with the evolving macro and geopolitical environment, the revenue and cost assumptions of our recent financial modelling, and the high calibre JO partner, the Etinde valuation now has a stronger underlying hypothesis. We acknowledge that the current capitalisation falls well short of these levels and that the Board's challenge into 2023 is to close this gap.
This will be the trigger for a huge re rate. The Company continues to await the completion of the sale by New Age of the 37.5% stake in Etinde to Perenco and understands that this continues to be progressed by both parties.
In June 2022, NewAge signed an agreement to sell its shares in the project (37.5%) to the Franco-British company Perenco and the National Hydrocarbons Company of Cameroon (SNH). The operation would give Perenco the status of operator in the joint venture with the Russian Lukoil (37.5%) and the British company Bowleven (25%).
Looks like there was meeting a few weeks ago which possibly explains this weeks share price rise. Game on
The Cameroonian government does not currently have visibility on the effective development of the Etinde gas project, following the explanations given to the National Assembly on June 16, 2023 by the Minister of Water and Energy (Minee), Gaston Eloundou Essomba.
Agree RLL. Last update the company made it clear they planned to close the gap between the current market cap of £5 and the Asset on the balance sheet valued at £150m. In share price terms thats 2p to 50p. So take your pick somewhere in the middle
Interim statement referred to in todays RNS
Eli Chahin, Chief Executive Officer of Bowleven plc, said:
"We remain on the verge of what we believe to be a major turning point in the business with the expected upcoming change of the Etinde operatorship once Perenco secures regulatory approval.
This is expected to be a key milestone in progressing what is hoped to be a transformational energy project for Cameroon , accelerating what has to date been a challenging timetable towards hydrocarbon production at Etinde for the benefit of all the JV Partners. As demonstrated by the recent signing of a bilateral co-operation agreement on hydrocarbon monetization with neighboring Equatorial Guinea, we are on the cusp of a new energy horizon for Cameroon that will impact the lives of many. We look forward to keeping our shareholders abreast of the anticipated positive developments over the coming months."