George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Looks like they will be voting yes, they hold over 3%
https://twitter.com/burggrabenh/status/1615384178459025408?s=61&t=8rWJuVB6BWAkmyCRaRE99g
https://twitter.com/burggrabenh/status/1613665120043028485?s=61&t=XTZXT5jgFmD6VcG6SDqpHQ
As i read it - see below, the drill hasn’t even reached target depth yet and they have hit gas at the “intermediate” stage, so does this mean the main reservoir is further down and more drilling to come
"We are very pleased to have encountered hydrocarbons in the Pensacola exploration well at this intermediate stage of well operations. We now look forward to working with the Operator on the well testing programme, and will update the market once that programme is completed."
What a bunch of tools
https://twitter.com/agentp22/status/1613118682032488452?s=46&t=5W7pLbRHerMs6-U58kEuVg
Courtesy of JackSP on the KIST board, interesting comment from Moram on their portfolio changes and pretty scathing of the SQZ management team
https://moram.eu/moram-4q22-portfolio-update/
They seem confident that this transaction will go ahead, what have they offered the major holders - it will be so disappointing if the likes of the Hardys have agreed to this shocking deal, it would appear that SQZ BOD have already discussed the finer points with the major holders
How convenient that North Eigg is a supposed duster - brought the share price down nicely
“ The General Meeting is expected to take place in January 2023.
It is expected that all the conditions to completion of the Transaction will be satisfied such that completion of the Transaction can occur in March 2023.”
“AA not going to grovel” -
of course he wont, but I can tell you that he will be scrutinising the details when the circular is publicised. I bet he can’t wait to comment on the proposed deal and confirm why it’s so bad for SQZ shareholders.
There will be no love lost between AA and Mitch. I bet Mitch & the so called SQZ board are having sleepless nights awaiting the inevitable response from KIST.
Heads will roll and it can’t come soon enough
I have a feeling that a KIST offer is incoming but nowhere near the last offer and it may involve KIST issuing more shares themselves. TTF prices have reduced significantly but the KIST share price has remained surprisingly resilient and trading in a tight range. Surely an incoming bid in the works.
The last RNS boosted the share price by 15-20%, don’t expect another “imminent” one that will do the same. I think a steady rise until year end results in April and expecting the oil price to be stronger in 2023. So a slow and steady rise to around 35-40p by Mid April
The only conspiracy theory i see is North Eigg. Why suspend it and not carry on drilling and finish it. Share price goes down some 15% following the drill, then they come out with this nonsense convenient deal involving Mercuria at 274p.
Do you think if North Eigg was a success that Mercuria would buy in at a share price nearby 40-50% higher? Mercuria take a stake at 274p, they the redrill North Eigg via a “sidetrack” and it becomes a gusher. Mercuria make a killing on their 25% stake and take it private before Labour come in
https://twitter.com/burggrabenh/status/1608165416177745922?s=46&t=bsBIE7qKCf6UY8Vc6Ptt0A
https://twitter.com/burggrabenh/status/1608165416177745922?s=46&t=bsBIE7qKCf6UY8Vc6Ptt0A
There must be a lot of Private investors in SQZ. Is this a ploy by the SQZ board to get the PIs to sell their shares so that they move into Institutuions hands and Mercuria. Surely they would of pre-empted this type of "outrage" from shareholders.
Maybe this is me being a bit paranoid, but clearly everyone can see this strategy is nuts.
I was half expecting KISTOS to put out a cheaky comms to say - you should of taken the deal that was on offer!!
I thought the standard of the answers by Mitch Fleg was poor and the guy answering the questions about the tax losses was even worse - he hadn’t a scooby-doo. Doesn’t really inspire any confidence. When Mitch was prompted to explain the issue of new shares at 278p well under NAV, he couldn’t answer the question, just stated that Mercuria wanted in. If Mercuria were so desperate to partner SQZ i am sure Mitch and his cronies could of negotiated a better price for dilution.
I also thought the analysts were poor, there are better questions on this board and we would not have given them an easy ride
The only positives i see are:
1. Diversification into oil, we are too gas linked
2. Talk of further acquisitions, but will we over pay again?
3. Mercuria have taken a position at 278p, surely they want to see share price appreciation from this level, so hopefully that could be a floor to the share price?
I don’t trust Mercuria, come on AA, please sir can we have some more - (that is another bid)
Lol, you base your investment strategy on posts on a bulletin board, try doing some proper research, you say “ I liked this as a gas play with no debt, now it has oil and debt I am not sure why you would invest in this rather than Harbour tbh. I actually took some Tullow instead“
You do know that HBR & TLW are full of debt and oil - some people don’t half talk some sh@t
Just re-reading the North Eigg RNS and my interpretation is:
Thank you very much Sunak et al, we will take your 90% cost and when the WTF is reviewed in future we will re-enter this well and declare it as commercial - we ain’t paying 75% tax to you thank you very much
“ A full suite of wireline logging data has been acquired and our analysis is ongoing. We aim to determine if a future sidetrack location can be designed to better evaluate the volumes of hydrocarbon in this new discovery. It is our intention that the well will be suspended pending the results of this further work prior to future potential re-entry and sidetrack.”