We would love to hear your thoughts about our site and services, please take our survey here.
If the largest of the selling is now pretty much done (based on yesterday's reported trades), then I wonder if we might now be gearing up for one of those Char Friday specials. Certainly a huge amount of newsflow coming up here for sure and sub 10p looking like a steal again. GLA
Thanks Whimax - understood. (I just got wondering about all this given given Char's recently announced "strategic review" to potentially separate Transitional Power and Transitional Gas. Any separation or disposal would also better facilitate a TO of the TG side of the business.)
On a related but separate matter, if Energean do go ahead with a second drill in Q3, which prospect will be drilled?
The question was not asked because these interviews are scripted. If they were fully funded for this next programme of works, then you can bet your bottom dollar that the interview would have elicited this response from them. However, they didn't want to cover the finances, because they got slaughtered last time for pre-announcing the fund raise. They are not going to make the same mistake again. The placing will land when the broker has sourced all the money for it. It will have to be a sizeable discount again because of the size of the likely raise. This whiff of a placing is the reason this RNS and interview got a muted response. Best to wait and let them sort out the funding. All imo and dyor
Page 22 of the Admission documents sets out the history and background to how many 'cheaper' shares have been issued:
1) On incorporation, the Company issued 5,500,000 new Ordinary Shares at a price of 1 pence per Ordinary
Share.
2) Subsequent to this, on 14 December 2023, Helix completed a pre-IPO fundraising, raising £861,000 through
the issue of 17,220,000 new Ordinary Shares, at a price of 5 pence per Ordinary Share.
3) On 11 March 2024, Helix entered into a Sale and Purchase Agreement with the Sellers (being Bo Sears
and Greenway Royalty Partners, Ltd.), for the acquisition of the entire membership interests in Hereford
Resources. On completion of the Sale and Purchase Agreement (which shall be on Admission) the Sellers
will each be issued 10,000,000 New Shares in the Company. (Doesn't say at what price!)
In terms of how many shares are subject to a lock in:
The Locked-in Shareholders (in accordance with Rule 7 of the AIM Rules for Companies) who, on Admission,
will hold in aggregate 14,600,000 Ordinary Shares (representing approximately 11.9 per cent. of the Enlarged
Share Capital) have undertaken not to (and to use their best endeavours to procure that their connected
persons shall not), save in limited circumstances permitted by the AIM Rules for Companies, dispose of any
of their interests in Ordinary Shares (including any Ordinary Shares that they may acquire through the exercise
of Options or otherwise) at any time prior to the first anniversary of Admission.
In addition, in order to ensure an orderly market in the Ordinary Shares, the Locked-In Shareholders have
further undertaken that they shall not (and that they will use their best endeavours to procure that their
connected persons shall not) for a further period of 12 months (subject to certain limited exceptions) deal
or otherwise dispose of any such interests: (a) without the prior written consent of Cairn and the Joint
Brokers; and (b) only through the Joint Brokers, in such manner as the Joint Brokers and Cairn may
reasonably require so as to ensure an orderly market in the Ordinary Shares; or if the Joint Brokers are
unable to make the disposal within five Business Days of having received a written request to do so by the
Locked-In Shareholder such other reputable broking service as the Locked-In Shareholders shall, from time
to time, determine.
A bit of a filler RNS this. It's pretty clear they are going to need funds, and more so if they decide to drill an appraisal well/re-enter Tai. I suspect the placing is being worked in the background. With the number of shares in issue, will they go for any kind of consolidation?
Fantastic news. Let’s hope this is the start of a new dawn for Chariot. Great to have the Q3 drilling confirmed as well. If yesterday’s high volume is anything to go by we should be off to the races from today. GLA
Well at least we got rid of a lot more of the supply that there is around at the moment. Therefore, hopefully when it does breakout (on news?), there will be less of this selling 'debris' in the way of the next move up.
RNS must surely be days away now?
I think it's clear that the GH ramp has run its course, and she's now moving onto a new project, which can be spun for the next period for the next set of gullible investors. Either way, MASSIVE dilution coming up here now off the back of this news.
Crazy. No strategy at all. Where are the funds going to from for exploring this new project. The last one was given away for next to nothing. It’s obvious GH is going no where and so now it’s copper and silver 😂
I didn't get buy orders filled on Friday either, albeit they were cheeky ones for 4.2p. Unless there's a sudden deluge of selling, I think the remaining shares below 4.5p will get taken up over the next few trading sessions, and we can then make the next move up.
What price will this be at when the RNS lands at the end of April/early May? There will definitely be high volume buying following those RNS, because a lot of folk will wait for confirmation of the deal before committing some or all of their funds. So I would expect a decent move up on confirmation.
"Now he is so repetitive and boring for me that I find it hard to concentrate. He is is the type of guy that will be using the word ‘potential’ for decades to come."
That funny Pauly80 - because the very same can be said about your posting on KAV. Give it a rest with the agenda led posting and if you really don't see any reasons for optimism here, then no one is compelling you to hold any shares!
Looks like the shares under 4.5p are currently being accumulated, with selling at these levels being soaked up by buyers. Junior goldies are starting to perk up. If this continues, we should see another push towards 5p very soon. All imo and GLA