Member Info for lordsidcup

From Twitter report of a webinar today: Chairman @CPECAuthority @AsimSBajwa rejects the rumors of slowing down #CPEC projects while @CathayPak says Chinese President #XiJinping will be visiting #Pakistan soon. #webinar organised by @SDPIPakistan @ForeignOfficePk
https://twitter.com/stm215/status/1291724062037807104

Perfect time for a top up before the inevitable LOI and finance newsflow not just a one trick pony any more either, new Africa and probably Middle East projects coming and nothing priced in at all

Interesting read: https://zakmir.wordpress.com/2020/07/29/oracle-power-orcp-the-mou-turning-point-orcp/

Work on CPEC projects has not stopped anywhere, Bajwa tells special committee
As per details, a meeting of the special committee on CPEC was held under the chairmanship of Senator Sherry Rehman on Monday, in which Bajwa while giving a briefing said that we had received orders that CPEC is very important to us and no project should be stopped.
Asim Bajwa said that instead of imported coal we will go for fuel production from local coal resources, we are consulting on extracting chemicals from coal. He told the committee that a 105 km railway line is required for coal mining.
He said that they are in talks with the Planning Commission for the railway line, adding that all the projects are being done in collaboration with the ministries.
https://www.brecorder.com/news/40006246/work-on-cpec-projects-has-not-stopped-anywhere-bajwa-tells-special-committee

Jimiam I appreciate your informative posts but will you please stop abusing people because you don't like what they're saying, everyone has the right to an opinion, if you want to argue a different case please just do that

Of course the other thing worth mentioning is they have a large cash rebate coming - likely they will use this to pay off the 1.5 million loan as many other companies eg UKOG have done - all they need the guarantee and cash to meet the regulatory process but once that's done other options will be available - it's a bit chicken and egg

Yes YA and Riverfort must have been assured there is big news coming within a month IMO so the SP and liquidity can rise for them to convert their shares and warrants for a profit - which means institutional investors at 2.7p+ - the overhang will disappear as they all pile in for the $6-8 billion value and multi billions over 40 years - a bit of dilution but a much higher SP too!

And yet the majority of their shares are via a warrant at 2p - they don't really care what the price is when they convert placing shares as it's always at a discount - but liquidity to sell is another matter - which is why they will want the SP at 2.7p+ so institutional investors will pile in -hence the month delay for the big news to drop. The placing shares and warrants will go to the institutions and new investors who pile in and then the SP takes off again on finance news - all IMO

Great post. There still seems to be a lot of misunderstanding over the financing deal though. YA can't keep forward selling then converting shares at a discount like they have with many other shares because the placings are at Oracle's discretion. The £45 million IMO is just a guarantee to satisfy PPIB, Oracle may probably never need to use it if they find a better financing deal after receiving the key approvals to satisfy a lender. The £1.5 million shares can be converted by the lenders but not for a month and they have the warrants at 2p - which makes me think the big news is coming soon and they don't want to hamper the rise - they will then convert shares but at a much higher price with Institutional investors providing greater liquidity - that's my take anyway and it's win-win if that's the way it turns out

Also this today: "Parliamentary Committee on CPEC discusses power generation projects" which reiterates current projects http://newztodays.com/parliamentary-committee-on-cpec-discusses-power-generation-projects/

"Sindh Minister for Energy Imtiaz Ahmed Shaikh suggested that the services of Pakistan railways would be taken for the transportation of Thar Coal. In this regard he suggested further that laying of railway track from Islamkot to new Chorr would be included in CPEC." https://mettisglobal.news/600-mw-unit-ii-of-jpcl-plant-should-be-designed-to-generate-100-percent-power-through-thar-coal-energy-minister

The PPIB report is hugely in favour of Thar coal as a strategic asset and talks specifically about Oracle needing to be included in the power plan and that these projects should be raised to 'committed' status to give confidence to investors market seems to have missed it but sounds like big buy order to me if people struggling to buy

After hours buy looking good for tomorrow

BUt they can't keep Converting shares it is at Oracle's discretion! and no new shares even for the £1.5m until a month from now. It's a good deal

SO someone sees YA involved and assumes all their deals are the same without reading the RNS! yeah I'll listen to their advice.... this is nothing like the UKOG death spiral finance deal it is totally under ORacle's control to be used IF needed - with warrants at 2p to sweeten it

2p warrants to sweeten the deal too! They now have the enviable choice of being able to access funds at their discretion for new projects while being able to seek a better bank debt route for the big Thar project if they can

I think this is a great deal - "The number and timing of subscriptions under the Commitment Amount ("Subscription") are at the sole discretion of Oracle... the Company is not obliged to request one or more Subscriptions and there are no penalties for not requesting a Subscription." it is at Oracle;s request no drop drop of cheap shares just funds for new projects when they need it

NTDC blames ‘policy limitations’ for gaps in generation plan
It said the KP’s criticism over heavy reliance – 32,967MW – on coal was also not sustainable given that the Thar coal as indigenous resource provided base load capability with high capacity factor and low economic cost.
The planning tool had taken care of all such aspects and provided the most optimum solution – thus complementing the energy security through diversity as well as indigenisation.
https://www.dawn.com/news/1567623

"The premier vowed that the federal government will complete the CPEC project as per plan at any cost." something to be positive about going into the weekend! https://arynews.tv/en/pm-imran-khan-cpec-projects-review-session/

https://twitter.com/knocker1231/status/1278351976271659012 from this article https://www.dawn.com/news/1566271/axe-falls-on-secretary-power-amid-dispute-over-net-hydel-profit-payments