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"15:05 Basel III now goes fully into effect!"
Mrtibbles,
If that is what Andrew Maquire is saying then he is wrong.
Full implementation of Basel 3 has been put back a year to 1 Jan 2023, due to Covid delays.
https://www.fsb.org/work-of-the-fsb/implementation-monitoring/monitoring-of-priority-areas/basel-iii/
Also the LBMA are still trying to water down the percentage of real gold they must hold to be classed as a Tier One asset. The game goes on!
My concern is the length of time before this project returns any cash, with 2 year and 4 year earn in periods being mentioned. Will the price of tin still be high when we are producing?
1. Phase 1 - earn 51% interest by spending US$1 million over a 24-month period.
2. Phase 2 - earn an additional 24% interest by spending US$2 million over a subsequent 24-month period.
"if they cant generate money because folk are constantly talking down the share there is problems...now on 11th feb onwards they are able to generate new funds via placing at 10% thats 4 weeks to go"
What the hell are you talking about Oldblue?
That RNS link was form 11 months ago! The share price before the placing was 11.5p. Today's sp is 3.4p. The 70% drop in the share price in 11 months is one of the main reasons why AST will find it very hard to raise more money, not what is written on this bulletin board. Potential investors might also be concerned by the lack of progress in the new ESG plans announced then, and what has happened to the £1m they raised?
From the link that link you posted RNS 11 Feb 2021:
"The Placing funds have been raised in support of the Company continuing to pursue its special situations growth strategy and in particular advancing towards its maiden transaction in the ESG metals sector.
ESG Metals Strategy
The Company has today included ESG Metals as a new target sector within its resource focused business. ESG Metals includes secondary mining and recovery opportunities which the Company sees as being consistent with Environmental , Social and Governance ('ESG') principles. "
"The Company has today raised £1 million at an Issue Price of 10.1 pence per share which represents a discount of approximately 12.5 per cent to the closing bid price of 11.5 pence on 10 February 2021 by way of an oversubscribed subscription and placing of new shares to institutional investors and existing shareholders . "
Wood Group are still recovering from taking over AMEC. They announced today that "The Board has concluded that a sale of our Built Environment business is the best option to deliver value for our shareholders."
They also said that they were trying to reduce their net debt to EBITDA ratio of 3.2, which is getting near to their covenant limit of 3.5. So I can't see WG making an offer for anyone.
My guess would be about 6 months.
They have virtually no chance of launching a placing or rights issue as thing stand, imo. So they will probably have to resort to an online funding company, like PrimaryBid again. Punters piled in 3 years back, but will they invest in AST again?
Alwaysup,
I would go a lot further back and reappoint Jeremy Eng. A CEO who put a large amount of his own money into buying shares in AST. He was forced to fall on his sword over the issue of buying an asset that did not have all the permits needed to produce gas. Ten years later, and it still does not.
" though the company grew net income from a loss of 3.66m to a smaller loss of 2.83m. "
Utter gobbledygook from the FT.
If you have zero income you cannot grow anything!
Plain English Translation:
AST lost less money this year than in the previous year.
Previously I had stated:
"NB: Anyone completing a UK Tax form can reclaim this overpaid tax, but I doubt you could do this with an ISA, as they are tax exempt."
This is not strictly correct. You may be able to reclaim the tax if your dividends for the year fall below the current UK maximum of £2000.
If your dividend income for the year is above this figure then the double taxation rules protect you from paying any British tax on the dividend, but none of the foreign tax will be refunded.
A few years ago when the divi threshold was £5000, I successfully reclaimed all the tax paid on two foreign divi's, but I was below the £5k threshold then.
Sorry if I have misled anyone.
"Webbs you made me realise the problem, these boards are made of a lot of Mail and Telegraph readers who aren’t told the wider picture"
Sotolo,
Perhaps you should tell the ignorati on here what we should be reading!
"IF EU re-classify gas as green energy, expect Slovenia to be more favorable for our gas assets."
Unfortunately they aren't really AST's assets. The license is held by the JV partner Geoenergo and if it is not renewed, AST's 75% holding will be next to worthless. That would leave legal action as the last remaining hope of recovering any of the €50m AST claim to have spent. AST cannot afford this without a litigation funding partner. It is now more than 3 years since AST first threatened this course of action, but finding a partner willing to fund this case looks no nearer.
"Ascent holds a 75% interest in the Petišovci Project and its Joint Venture ("JV") partner Geoenergo holds the remaining 25%. The current concession was awarded to Geoenergo in 2002 and is due for renewal in 2022"
Biomas is nothing more than a made up name for wood pellets. You don't burn the equivalent of 25 million trees a year by using saw mill off cuts, paper pulp and broken branches. We are talking wholesale destruction of forests here!
This article was written 9 years ago, before this biomas twaddle started.
It states two basic scientific facts.
1. Trees absorb Carbon Dioxide.
2. Burning trees releases the Carbon Dioxide back into the atmosphere.
"Trees remove and sequester carbon from the atmosphere, in the form of carbon dioxide, acting as important stores, or “sinks,” of carbon that help to offset its accumulation in the atmosphere. When trees and other woody material in the forest are burned by fire, they release carbon back to the atmosphere, mostly as carbon dioxide, where it may once again act as a greenhouse gas that promotes warming."
https://wattsupwiththat.com/2012/07/24/shocker-burning-trees-release-stored-carbon/
The IPCC may well ignore or gloss over this, but they cannot change the rules of science.
Alwaysup,
Let's also not forget what a close and friendly relationship they have with their JV partner, as demonstrated in this RNS statement. Says a lot for AST's chances of renewing the license!
"As announced on 28 May 2020, the Company's subsidiary Ascent Slovenia Limited has been managing a planned contractual default with its joint venture partner Geoenergo* and the local service provider Petrol Geo*, in relation to historic amounts claimed of circa €235k (which are provided for in the Company accounts) in connection with the joint venture arrangements. Despite multiple offers by the Company to settle matters, including to restructure the JV arrangements, no amicable settlement with either Geoenergo* or Petrol Geo* has been reached to-date.
In the meantime, Petrol Geo* has issued a local enforcement order attempting to claim payment for an unsubstantiated amount of €662,288.63 plus interest of €12,103.19.
Andrew Dennan, the Company's Chief Executive, commented:
It is of course disappointing to observe a JV service provider pursuing a confrontational approach, possibly trying to take advantage of the situation through what we regard as ill-timed and unfounded legal manoeuvring."
https://www.theguardian.com/business/2021/oct/19/drax-dropped-from-index-of-green-energy-firms-amid-biomass-doubts
"Drax Drax dropped from index of green energy firms amid biomass doubts Doubts over sustainability of company's wood-burning power plant mount within financial sector"
https://www.telegraph.co.uk/news/2021/11/06/uk-has-real-problems-burning-wood-electricity-admits-zac-goldsmith/
"There are “real problems” with the burning of wood pellets for energy, an environment minister has admitted, after the Telegraph revealed Britain will continue to burn the equivalent of 25 million trees a year, despite a pledge to end the destruction of forests..."
"Speaking of annoying stuff on LSE - even more pop-ups nowadays so less than a third of my screen is now stuff I'm interested in. At least I've got a good and free pop-up blocker - a used piece of cardboard with a frame cut in it."
Boyobach,
If you want an effective and free pop up blocker, install Adblock Plus.
Well done OldBlue, you have actually said something sensible for once.
"well new ones not too good...looks to me like the 100k a month maybe a FDP test more than anything as if they were doing it permanently they wouldnt need to extent the loans....:-("
If, as you say AST were making 100k per month, they would not need to extend these loans. Until now you had swallowed that 100k per month BS wholesale. Glad to see that the fog is now clearing for you.
I am amazed that anyone would accept warrants exercisable within 2 years at 7.5p per share.
More chance of winning the lottery than cashing these in!
"As part of the loan maturity extension agreements, the Company has agreed to issue the Lender 3,600,000 new equity warrants, exercisable at 7.5 pence per new warrant share at any time over the next two years."
Is is not me who needs to do some research Mattw007.
But, I won't waste time arguing with a fool.
Have a great Christmas.
Snooz, this is from page 23 of the demerger document on HOC's website.
"For Shareholders who are resident in the UK for UK tax purposes (a “UK Shareholder”), the distribution of Demerged Aclara Shares as a part of the Demerger will be treated as a dividend. The value of the dividend will be equal to the market value on the date of the transfer of Demerged Aclara Shares to Shareholders of the Demerged Aclara Shares to which they are entitled.
Impact on individual Shareholders within the charge to UK income tax (an “Individual UK Shareholder”)
All dividends received by an Individual UK Shareholder will, except to the extent that they are earned through an ISA, self-invested pension plan or other regime which exempts the dividends from tax, form part of the Individual UK Shareholder’s total income for income tax purposes and will represent the highest part of that income."
Any Capital Gain will only come in when you sell your Aclara shares. However, as they are trading at around C$1.30 and were issued at C$1.70 you would be looking at a capital loss if you sold any at this time.
"Thanks, I knew in Canada and moved them from Barclay in time so now with ii, "
Hi Sotolo, have you got your Aclara shares yet?
I have just checked my other half's Inactive Investor account and the Aclara shares are still not showing.
Hi ShipwreckSheep.
Apologies, that quote did indeed come from an AJBell Corporate Action notice.
I had mixed it up with the quote below from HOC's Demerger Circular.
"The Aclara Shares are Canadian securities and are, therefore, not capable of being settled directly in the United Kingdom through CREST like ordinary shares registered in the United Kingdom. Accordingly, Aclara has agreed to make arrangements to provide Shareholders whose shares in the Company are held in uncertificated form through CREST with Aclara Depositary Interests (“Aclara DIs”), which are instruments that represent the underlying Aclara Shares and allow settlement of trading in Aclara Shares through CREST. Shareholders whose shares in the Company are held in uncertificated form through CREST will, therefore, receive Aclara DIs."
Reading this again it looks like our Aclara shares are in CDI's - Crest Depository Interests.
Bluemango,
I know little of how the Link system works, but the reply from AJ Bell is contradictory. They state that they are the registered shareholder, not me, and then say they would have to make a claim to the SA tax office for each of their PAF invested customers.
If all of our shares are held by them under their name, then they only have to make one claim.