Member Info for Lastofthesummer

Interview is worth the 2 minute especially for people unfamiliar with Kodal . money in the Bank , fully permitted , expectation of increase in reource, Off take agreement with Chinese , Mining contract to be awarded and production to start at the end of the year ..... This of all the AIM plays surely has the best chance of into production , positive cash flow and passing the inflection point in the share price as it goes from exploration to production..

I can never fully understand why we see trafes of 2 or 3 quid . It wouldnt be economic on my platform . What causes them?.

Averaged down for the last time today. My logic being I don't think JA is as bigger Cowboy as some AIM CEO's and he has stayed consistant to funding drilling via on an Asset basis. Surely in the conversations re the licence extention the conversation has to have been had about can you genuinely get funding if we grant the extension ? plus the Rig is still being lined up and seems available . So last roll of the dice for me thinking that the inflrction point of funding and a committed drill is still on the cards .

DYOR GLA LTH

RNS has dropped . Disappointing its not signed sealed and delivered . Can kick down the road to early FEB

Synergia Energy Limited ("Synergia" or the "Company"), is pleased to announce the following update regarding the Cambay PSC Farm Out.

Synergia continues to hold meetings in India this week with the potential joint venture partner (the "Farminee"), particularly in respect in finalising the farm out agreement and joint operating agreement. The Company and the Farminee are aiming to execute these agreements in early February 2024.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Tweet text

"Roland will be in India next week to finalise the Cambay JOA, farm out agreement and work program"

which begs the question of the myriad of interpretations of " finalise ". I just wish companies would stick to accurate and timely proper RNS's as a means of communication rather than clouding matters with casual messaging on X that will lead to speculation

Anyway thats me being Old School . Hopefully "finalsie" means finish and create shaeholder value

GLA LTH

agree with the sentiment that rns is a big big positive. my understanding of the chemical engineering is that rainbow are seriously competitively advanatged in production processing costs. the raw material "**** heap" feedstock is also cheap as chips cf mined material so anything that validates that the chemistry and processing works takes a step further to being a genuine low ( maybe the lowest ) cost producer of a strategic resource . happy days to come :)

I agree . The accounts of this company are very simple to pull together. It's small, no divisionalisation , simple cost inputs and a simple revenue stream . Beggars belief that it has taken this long for the auditors to opine and get the accounts lodged and the share up and trading.

I think that when we do get trading again there is going to be a sell off because a lot of people will have been cheesed off by the inability to access their cash. No doubt when they do annouce that the share is back trading they will update on Ops and financing . That will be key for me in deciding whether to scoop up "cheap shares" or not as I beleive that the gold reserves are genuine. The Management are of course a big concern as thusfar they have at best been inept

Surely cant be too long now before the shares become tradable again

One would like to think something was about to happen and its a bit leaky .....the Share volume/value is still peanuts so alas I suspect not but can but hope ... so far under water here I can't see the sky above GLA

Below is the last formal communication I can find on the Farm Out process. It dates from April . My understanding is that if there is a material change from officially notified company news that of itself is material then this change needs to be RNS'd

I can only conclude that talks must be ongoing and have not ceased other wise we would have been notified as indeed the April RNS says they specfically will .

26 April 2023

AIM: SYN

Update on Farm Out Process

Synergia Energy Ltd (the "Company" or "Synergia") notes that it has received a non-binding expression of interest for the acquisition of up to 51 per cent. participating interest, and operatorship, in its Cambay Block PSC (the "Expression of Interest"), in return for a carried interest in the drilling of a to be defined number of development wells.

It should be noted there is no certainty that the Expression of Interest, which is subject to various due diligence workstreams, or any other approach received by the Company, will result in the completion of a transfer of any participating interest, or operatorship in the Company's Cambay Block PSC.

A further announcement will be made if and when appropriate.

What amazes me is that it is taking so long and that makes me worry all is not quite " Hunky Dory ".

GLA LTH

Agreed Oversold. Took the opportuniy to trade out of my Alba position and buy in here at 2.5. Looks over sold and that usually means the price will work its way up. When it does i will rebuy into Alba as a way to get the exposure to GROC without the hit for more raises. Although with Albas ownership now down to 38% it's a strategy that is less beneficial tahn it once was.

Hi TheT I wouldn't think there is an application of wireless charging into a Goliath battery. Wireless is typically upto 50% less efficient than direct charge so given the cost of the electric you are seeking to harvest I don,t think that will stack . The USP of Goliath is faster charging and more charge retention in a smaller lighter form cf a normal Lithium EV cell

Stearex applications for implanted devices to be recharged insitu is something I am less clear on but i am guessing that the real drive for stearex is the ability to operate in a very small form factor in hostile enviroments. Not sure rechargeability is key for most proposed uses. The company might profer a view if asked

That they have locked the tech off spec wise pre production means they must be confident it works. Without out speciifics on output capacity and charging time its difficult to gauge how excited to be. But I can't see any way they would have taken this step unless they had some genuine performance advantage from solid state ( other than the obvious safety benefit) . I have aways thought the " big money " here is in the Goliath side of the business . They also wouldn't have locked off the tech unless they were inside customer spec expectations. A long term play but a positive and important step today methinks

This is the Financing Houses applying pressure to secure more onerous terms. Cutting the construction work and signalling the cash runs out soon is the CEO doing what is required by the market regulators . I think it is highly unlikely they can draw down the previously committed funds as they must be in breach .

I believe the mine will get built . Finance will arrive at the 11th hour but the killer question is to whose real benefit.?

I think existing LTHs will suffer from the transfer of underlying value to the finance houses as the squeeze is put on :(

An effective interest rate of 15 % on the loan plus a commitment to sacrificing a minimum of 50% of the companies cash flow is very very expensive money.

I dont think the Board have handled the refinancing very well at all considering the business is cash generative. Feels like they got themselves into a mess and needed funds at any cost. :(

Thanks for the responses to my query. sounds like " Arts for Arts sake , MY money for Gods sake "...oh wait a minute that was 10 cc .. :)....

All

I am struggling to pick my way through the History on this share. Seemingly the previous CEO ( Art) was not well liked and seems to have cheesed off a plethora of people and the new crew don't seem to overly communicative.

But a Market Cap of 17M ish for a producing field that's been up graded and a v large identified oil field in a supportive Juristriction thats on LOI for a potential JV seems just crazy low. What's the catch or is this just waiting to rerate ?

GLA LTH

GCAT not GGP I meant ... Mybad :)

Jersey

My comment re the "only show in town " relates to the interview where he indicated they had been in" exclusive" talks for months. He also articulated that after the last financing collapse he the company had lost a lot of credibility in the financial markets and it had been difficult to get people to re-engage . His words were they were starting " below zero " It's some where in the first 10 minutes. So if the current financing falls through they will back into the market ...yes with some more info in terms of mining plan and geos but after another suspension. Resurrecting interest for the 3rd time ? Not sure that flies

Tis true they have new info folllowing the request of the lender. What they don't have is an agreed Royalty rate. The upper hand is with the other side here. Yes they will want to do a deal but GGP will be desperate

The lights going out comment is a clear possibilty if they can't land a finance package. They won't be able to fund the expansion. Yes they could continue with the open ground mining for a while but the cash at hand position and cash burn may well be unsustainable . When they publish the results we shall be able to see if thats the case

As you say its all my opinion Time will tell how it plays out. That was just my take of listening to the Stockbox interview.

GLA LTH

Robbie also said explicitly that the funding will close "1st quarter 2024" . See minute 21.24 on the Stock Box interview.

That.s a long way off and assumes the funder comes through and the monies are only available after any conditions precedent have been met. There is still a lot of risk on the financing but more importantly it will be clear to the Funder that they are the only show in town, The "delay" in funding was driven by the funders requests for more geos and a better mining plan. He has put himself over a proverbial barrel. I fear the Royalty rate on the Financing is going to highly highly punitive. Why would the finance house not drive the hardest of bargains. If they pull its lights out and the management reputations are so shredded they will fear not working again. They will thus fold and accept a poor deal. It's human nature .

I have been in an out of this on the back of the suspensions and poor comms . Won't be back in until I know the financials properly on the mine expansion with the Final Royalty in play. Hopefully the suspension ends quickly if it doesn't it will surely mean that there is a bigger going concern issue because the finance has fallen over during the suspended period

Interesting times

Well Worth a listen . FG far less waffly and academic than in the past. At last seems to be focussed on Monetisation. Gives the impression they are talking to multiple potential partners. My confidence level that this has real legs in the long term is increasing .