Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
" A Notice of Foreclosure" sent to G2. Looks like Cloudbreak wants its money back or else. What a balls up
https://www.marketscreener.com/quote/stock/G2-ENERGY-CORP-39143200/news/G2-Receives-Notice-of-Foreclosure-43254910/
https://www.marketwatch.com/story/sovereign-metals-shares-fall-after-1h-pretax-loss-widened-plan-demerge-graphite-projects-outlined-ce0c5c5b
Shares down 10% at 8:30 with very low trading volume. I don't get it.
However, in January G2 announced a private placing to acquire $1.5m. The offer closed on 30 Jan, but no subsequent news. I hope that the recent settlement will be followed by positve news about the placing. Plus remember that Cloudbreak are concerned about the dilution of its own investment with G2. Cloudbreak should now issue a statement
Good News
https://www.marketscreener.com/quote/stock/G2-ENERGY-CORP-39143200/news/G2-Achieved-a-Capital-Settlement-Against-Trivista-43214033/
The Company hopes to allocate certain capital received under the Settlement Agreement to Cloudbreak’s Discovery PLC Debenture quarterly interest payments and to commence immediate work on two Masten Unit priority wells that are down due to pump wear and tear. G2 expects this work will quickly add 30 BOEPD from the workovers and at today’s oil prices would generate approximately an additional $70k per month of revenue production.
https://www.thecse.com/en/listings/oil-and-gas/g2-energy-corp
Share price up 100%. Remember that G2 stopped paying Cloudbreak royalty payments.
So the plan has been to refocus the business on energy royalty acquisitions. The first royalty was from G2 but then the second defaulted. Was there a problem with G2 which Cloudbreak missed or were they conned. Either way I think it has tarnished the plan. However, a Michael Sullivan has been appointed to Vice President after 8 months of consultancy work for the company. Not sure but I don't think Michael was involved with the May 2022 G2 deal.
Kylar Quote: As part of the Executive team his experience and knowledge will be CRUCIAL as we continue to acquire additional royalties and generate new oil and gas opportunities to grow Cloudbreak's cashflow". That gives me a glimmer of hope.
January payment default from G2. Cloudbreak complained.
https://webfiles.thecse.com/20230120_GTOO_NR_Notice_of_Default.pdf?qTYcv5y.AFnDEh26Ql4EJhaY4gyYJaNg
So short term looks promising
https://www.investegate.co.uk/article.aspx?id=202302160700020638Q
Was announced a few days ago.
https://www.yahoo.com/now/allied-copper-announces-termination-klondike-142200308.html
Only 47K for what ????? Maybe to cover the default payment from G2. Not funny
https://kalkinemedia.com/uk/business-news/business-assets/brief-cloudbreak-discovery-says-elected-to-draw-down-ps46870-of-ps10-mln-equity-drawdown-agreement-with-crescita
https://www.marketscreener.com/quote/stock/G2-ENERGY-CORP-39143200/
The Company (G2) is in discussions with Cloudbreak regarding an extension of time for the interest payment and other solutions, as well as better communication going forward. To reduce its working capital deficit, Company is seeking to raise capital through an equity or debt private placement.
G2 energy share price. No move or trades today
https://uk.advfn.com/stock-market/CSE/GTOO/share-chart?xref=navmenu_sharechart
https://www.thenewswire.com/press-releases/1AlpFMGN9-g2-receives-notice-from-cloudbreak.html
One a month. 15M shares
https://www.marketscreener.com/quote/stock/CLOUDBREAK-DISCOVERY-PLC-123450161/news/IN-BRIEF-Cloudbreak-Discovery-draws-from-Crescita-equity-facility-42460789/
An explanation would be nice. Could be related to this:
https://finance.yahoo.com/news/allied-copper-intersects-4-26-120000344.html
Copper find