Member Info for millsm

It’s not going to be long now until this share shifts up from 1st through 2nd and up to 4th & 5th gear. I’m going to have to avoid the temptation to sell any to early as the real value will come after a few years trading on the HKEX. Investment in European and US stocks have fallen through the floor and this could be a Chinese really positive growth stock in years to come.

Chairman of #AIM #CNEL reminds shareholders to complete Election Form stating how they would like to continue trading on the HKEx. Relisting on the HKEx will substantially increase shareholder value as the minimum market cap is HK$500m approx £50M (Tweeted 16th April)

Problem with AIM is they just don’t get Chinese investment and companies. Also it seems to be speculation based day trading rather than strategic growth reflecting in the SP. we’ve come this far with the HKEX move and the consultancy money has already been spent. Might as well cash in on the move now as China is where this will make its money.

Chinese E10 mandate and global warming, this Covid Pandemic will change the world beyond the disease as have you seen all the pictures showing clean skies and reduced pollution. do you think the world is going to go back to the way it was when this is all over. Oil is a dying industry and ethanol, renewal power and electric is the future of travel, food, lifestyles and production moving forward. The HKEX will see the share price triple if not quadruple for share holders that are invested and allow the BOD to get funding to increase their production and design of facilities in China, this is how this company will become a global player in years to come as airlines fight for renewable resources to fly in the future in a clean and safe way as well as producing land transport fuel and maybe shipping fuel. You need a sustainable way to meet global green targets and Ethanol is one of the key plays in the market. The amazing thing is that until now most countries couldn't see how they could meet their limits, this pandemic has put them in reach now with a major push towards future investment in alternatives to oil.

I don’t think shanxi meijin energy group has anything to do with CNEL as far as I can see, China new energy CNE must be a similar name but none related company to CNEL.

Continued .......

The material terms of the JV include the following:
a) Participating Interests – on commencement, the participating interests will be: CNE 65%, LCK 35%.
b) Voting Thresholds –
• A unanimous vote required on the following decisions:
? Work program for a permit;
? Surrender of whole or part of permit area;
? Any other matter which the JV specifies requires unanimous approval.
c) Remuneration to Leigh Creek Energy (LCK) from CNE
• LCK shall be reimbursed by the JV on a cost-plus basis for work up to and including any reserves upgrade;
• Following a financial valuation, a success-based payment, which will be set out in the Agreement between CNE and LCK, would be paid to LCK;
• This would be based on a percentage of the increase in financial valuation following the 2P upgrade in $/PJ for syngas or equivalent for hydrogen.
d) Remuneration to Joint Venture from third party permit holder
• In the event that CNE is not the holder of the permit, a royalty-based payment, based on the volume of syngas or hydrogen would be set out in the JV between CNE and LCK, which would be paid to both parties in accordance with the Participating Interests.
Managing Director’s Comments
LCK Managing Director Phil Staveley said: “Today’s announcement is an exciting development for ISG between LCK and our Chinese partners. It provides LCK with access to the Chinese market, with a trusted partner and access to significant revenue stream. It is expected that substantive work on ISG will start in 2020 as some project evaluation has already taken place in locations in China. However, given the COVID 19 situation it is very difficult for LCK to be able to predict when LCK staff will be allowed to travel and return to Australia from China and as such timing remains fluid.”
The Board of Leigh Creek Energy authorises this announcement to be given to the ASX
For Further Information, Contact:
Tony Lawry | Investor Relations
T: +61 412 467 160 | E: tony.lawry@lcke.com.au
About Leigh Creek Energy Located in South Australia, Leigh Creek Energy Limited (ASX: LCK) is an emerging energy company focused on developing its Leigh Creek Energy Project (LCEP). The LCEP will produce pipeline quality gas and/or nitrogen fertiliser products from the remnant coal resources at Leigh Creek by utilising In Situ Gasification technologies. LCK is committed to developing the LCEP using a best practice approach to mitigate the technical, environmental and financial project risks.
For information on the ISG process CLICK

Some extra detail, from another article (might not be CNEL as it doesn’t look like bio-fuel resources), need to wait and see if it’s CNEL in the picture).

Leigh Creek Energy (LCK) and China New Energy (CNE), part of the Shanxi Meijin Energy Group have today signed a binding term sheet for their proposed Joint Venture for In- Situ Gasification operations in China. The agreement covers
• Scope and Purpose of the Joint Venture
• Material Terms of the Joint Venture
• Roles of LCK and CNE in the Joint Venture
• Remuneration of the parties in the Joint Venture
Leigh Creek Energy Limited (LCK) and China New Energy Group Limited (CNE) have signed a binding term sheet outlining the terms and conditions of a Joint Venture Agreement (JV) for In-Situ Gasification (ISG) operations in China.
CNE brings funding, access to coal and knowledge and familiarity with the Chinese regulatory system to the JV. LCK brings the knowledge and expertise gained through the preceding four years culminating in operational expertise demonstrated by the successful operation of its pre-commercial demonstration (PCD) facility. CNE has large commercial interests in significant underground coal resources in northern China’s Shanxi Province and it is the JV’s intention to develop these interests as well as third party coal interests in China. CNE also has commercial interests in steel mills producing over 2 million tonnes of steel per annum, a fertiliser plant, 3 gas fired power stations, 4 coking and pulverised coal injection coal mines, and thermal coal leases.
The JV will provide LCK with early access to funding without the need for additional outlays. It is intended that the Agreement will be replicable across multiple ISG projects in mainland China, both those owned by CNE and also third parties’ projects.
The JV is structured to outline LCK’s major responsibilities in three stages for each ISG project, to evaluate the suitability of sites for their ISG potential, conduct a PCD at selected sites and deliver a 2P reserve for each targeted resource.
LCK will receive remuneration for each stage depending on its nature. Consulting fees in the initial evaluation phase, mix of capital returns and fees in the PCD phase, and capital returns and royalties once a targeted reserve has been developed.

Doesn’t give any details though, just a headline. Could be a substantial development though depending on the relationship.

https://www.google.co.uk/amp/s/mobile.reuters.com/article/amp/idUSFWN2C51DF

I personally think this will happen quickly as they have already been through the process, they just needed this years profit numbers as price of value. Good Luck All as this might happen quickly as the BOD have confirmed it’s going to happen in H1 already.

Is the smart money moving in now?

Once you’ve filed in the form I’m assuming Computershare will confirm the volume anyway so you’d probably be ok, it’s only the price of a stamp to update later on. The last RNS did say you’d get 10 days warning of the transition date so no panic.

I would say yes, as the certificates are listed by Computershare and the quicker they know what you want to happen with the shares the better.

You should fill out the form as they will be creating new certificates and register so they need to know you details, volume and who is holding your shares when reissued. They will then verify your details and quantity so when it lists on the HKEX you’ll be ready to trade straight away as either you or your broker will have the correct certificate.

Posted my certificate form of to computershare this morning as I think this is all a done deal and going to happen fast. The new submission with last years accounts was of the back of feedback from the HKEX to get this over the line. The AGM green lighted everything as officially rubber stamped by the BOD and main share holders. It’s just waiting for a listing date on the HKEX which should happen very quickly now in my opinion as this has been ready to go now for months. Good luck everyone as it’s finally time to see the value come in on the Share Price after years and years of fantastic profits.

Unbelievable that people are selling into this opportunity but that’s AIM, roll on the HKEX in the coming weeks

Try A J Bell as they allow UK and a HKEX deals, easy to transfer from a UK based trading account, I moved mine over from Lloyd’s

We are definitely in for a massive windfall in the next couple of months if not sooner.

Good luck everyone as it’s been worth the wait.

A few sellers today my have cashed in their golden tickets, good luck everyone else whose waited for this update.

From tomorrow it should be game on here as the share price should strengthen based on the transition news.