The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces its Q3 production update for the three months ended 31 March 2023 ("Q3" or "March Quarter") delivering a 93% increase in net production compared to the prior December Quarter.
US Production (Various interests)
Mosman made significant progress in growing the production portfolio as a result of the Cinnabar-1 well (Mosman 75% working interest) coming on production. Improved production at Stanley and Winters contributed to the growth in the quarter in which Mosman achieved net production of 11,960 boe (circa 133 boepd) versus 6,212 boe (c. 67 boepd) in the prior December Quarter.
I returned my no vote form to Halifax last week.
how many iPhones Apple sold yesterday?
how many tablets Samsung sold yesterday?
how many barrels of oil COPL sold yesterday?
how many pills Moderna sold yesterday?
how many copies of The Beano sold yesterday?
Yes? oh thanks that's marvellous.
No? I guess I'll wait until their next updates to find out.
But while I wait, I have faith and hope in MOS to be looking after not just my or our investment but theirs too.
... and this bit too, all looks very positive.
Kodal believes that the best return for our exploration expenditure will be in the Bougouni Project, however, our agreement with Leo Lithium means we retain exposure to any exploration upside at Bougouni West and that the necessary work will be completed with a greater focus than could be justified by Kodal."
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, refers to the announcement made on 28 March 2023 and now provides an update on the Review.
Background
Mosman has two distinct asset groups: the USA production and development assets, and exploration assets in Central Australia.
It remains clear to the Board of Mosman that the value of both groups of assets in its portfolio is not reflected in the market capitalisation of Mosman.
Review Update
Mosman is discussing a head of agreement for potential future cooperation in offtake, financing, and equipment supply with a Chinese based company. Representatives of this firm had been planning to join Mosman's Directors and geophysicist at the annual resources conference in Alice Springs, however they were not able to do so due to scheduling conflicts.
Mosman's team in Alice Springs has met Government and other parties to progress its Central Australia assets focusing on natural gas, helium and hydrogen.
In London, Mr. David Minchin, a highly experienced helium exploration geologist with public company expertise, has been engaged and is actively reviewing and developing proposals to be considered by the Board.
Discussions continue with various parties interested in the Australian assets or the USA portfolio. All these discussions may or may not lead to commercial proposals that will then be considered by the Board. Given the commercial sensitivity of the discussions, once a firm conclusion has been reached, further announcements will be made in line with the Company's regulatory obligations.
In other news relevant to the Central Australian assets, Mosman notes the recent announcement by ASX listed Central Petroleum Limited ("CTP") regarding the Central/Santos/Peak Helium joint venture and their estimate of prospective resources in their permits in the Amadeus Basin which are adjacent to Mosman's areas. CTP confirmed plans to drill three wells in the next 12 months targeting helium, hydrogen, and natural gas.
It's only for the ASX:
The securities of MGC Pharmaceuticals Ltd (‘MXC’) will be placed in trading halt at the request of MXC, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 13 April 2023 or when the announcement is released to the market.
For those who haven't seen it..
Following the Company’s announcements dated 15 December 2021, 1 July 2022, 29 September 2022 and 16 December 2022, regarding the Sale & Repurchase Agreement (the “REPO”) entered into between the Company’s CEO and Executive Chairman, Professor Francesco Gardin, and MC Strategies AG (“MCS”), the Company has been informed that Professor Gardin and MCS have agreed to amend the repurchase price and the repurchase date of the REPO as follows:
The term of the REPO under which Professor Gardin is to repurchase 5,000,000 ordinary shares of 0.25p each in the Company (“Ordinary Shares”) has been extended to 30 June 2023.
The repurchase price for the 5,000,000 Ordinary Shares has been amended to 3.2366p per share (representing a 5% yearly interest rate on the initial purchase price of 3p).
All other terms of the REPO remained unchanged.
In addition to the 5,000,000 Ordinary Shares which are the subject of the REPO, Professor Gardin is currently the beneficial owner of further 29,284,149 Ordinary Shares. The 29,284,149 remaining shares represent the 2.94% of the Company’s total issued share capital.
Quantum Blockchain Technologies, the AIM-listed (AIM: QBT) company actively developing breakthrough hardware and software to improve the efficiency of crypto-currency mining, today publishes its detailed research report on the financial performance of the world’s leading publicly-traded Bitcoin mining businesses.
The report, titled “BTC 2022 Mining Industry: Main Listed Miners” is available by clicking on the following link: quantumblockchaintechnologies.co.uk/investor-relations/reports
Among the report’s key findings is the surprising inverse relationship during 2022 between the Bitcoin price and the technical difficulty of mining successfully. As the price of Bitcoin fell, it became more difficult and expensive for miners to participate in the industry.
The report dissects various performance metrics of the nine largest publicly-traded Bitcoin mining companies and also ranks them on their 2022 mining output. Key factors such as individual company’s electricity usage, EBIT and EBITDA, mining efficiency, the ratio between Bitcoins mined and sold for liquidity purposes are all tabulated and graphed. Bitcoin is the largest cryptocurrency in the world. It lost nearly 65% of its market value during 2022.
For Quantum Blockchain Technologies (“QBT”), the research underpinning this report is part of the Company’s fundamental analysis to discern important economic drivers of today’s Bitcoin mining industry. QBT sees significant opportunities for new technologies, including those being developed at the company, to improve the operational performance and financial return of Bitcoin mining hardware.
There's an old saying "Let him who is without sin cast the first stone" from a long time ago, remembered very little these days.
Everyone makes mistakes. He's fessed up and offered an apology which I accept.
Yes, laugh at City's "error" I did, as well as a slap to the forehead, but let's not forget our own parts in this play.
The BB was getting funny with a some good one liners and retorts, let's get back to that eh.
For the past 3 years we've had an RNS in March so hopefully we'll get some (contracts) news this month:
31/03/22 - Bleepa TB Screening Pilot Now Live in Odisha
24/03/21 - Royal Berkshire NHS Foundation Trust Contract
26/03/20 - Feedback Medical to offer Bleepa for COVID-19
Surely the reduction of debt is positive?
Our cash flow generation enabled us to rapidly deleverage our balance sheet during 2022 with net debt (excluding unamortised fees) reducing to $0.8 billion (2021: $2.3 billion) and leverage (net debt/EBITDAX) reducing to 0.2x (2021: 0.9x).