Member Info for MrH_m

My view is this: Conrad can’t let this drift without engaging. They’re already coming out of a halt/suspension and ASX will expect visible progress, not a long-running JV fight. Also, Nations have started funding long-lead items and won’t want ownership uncertainty hanging over capex spend.

The farm-down has milestone payments kicking in Q1 2026. That doesn’t happen unless minority issues are addressed first. EME’s 8.5% cannot legally be disputed as is locked into the JOA and governed by English law - it can’t just be waved away – it has to be dealt with properly.

December is a write-off. January is when lawyers, regulators and counterparties actually re-engage. That makes late Jan / early Feb the first realistic window where this either gets resolved or formally escalated.

Not saying it’s guaranteed good news – just that the clock is very clearly ticking now so lots more will be keeping a keen eye on this. GLA

I've reported his lies

Fingers crossed we get the news we have all been waiting for! GLA

Have a great Xmas everyone. Wishing you all the best for 2026!!

On par with Benidorm 😂

@Golf - you could be right re EME. Taking longer to sort out than is comfortable for a fair few no doubt. I’m interested to see which lands first - there or here!

Yes he’s not stupid that chap I’ll give him that

Conrad’s share price is right back to its July ‘pre- Gas Sale Agreement’ spike price. ASX are clearly treating Conrad the same as AIM are treating EME right now - as if the deal is off! Pressure increasing on all parties involved

I’ve not had a lot of new thoughts or £££ to add these past few weeks @Golf. Busy festive period!! My thoughts ? He’s realised CPAI is dead and will now be looking for his next board to latch onto :-)

Https://www.lse.co.uk/rns/board-and-committee-changes-9e87gf044imynmb.html?utm_source=alerts&utm_medium=email&utm_campaign=2025-12-17&utm_term=rns&nl_key=8a6607cb894a1a0dc1b38b5d6c1074fa284415f0e8cc7bae3b6fe22c79c74712

Mildly frustrating update yes, but not catastrophic

Yes Stella - so transparent

Agreed

You said you sold yesterday ATrades??? Back in for some more today?

Just to clear up why that 0.12p–0.35p range still stands, becuase ppl keep obsessing over Conrad’s £16m headline like its the full value.

That £16m is only the staged upfront, not the total value of the 75%. It also includes full dev carry + contingent payments + production-linked upside, so you can’t just pro-rata EME’s 8.5% off that and pretend you’ve priced the asset. Any proper settlement for EME has to reflect:

- future cashflows,

- the need for clean title for Nations,

- and the reality that Conrad can’t complete cleanly with EME hanging in dispute.

On the basic maths alone: 5.7bn shares means every £5–6m of clean cash = about 0.10–0.11p on the sp. That’s before you even talk about any retained WI, royalities, carry or upside. If the debt and legal mess gets cleared properly, AIM always overshoots on the re-rate – that’s where the 0.20p–0.35p zone comes from, not from fairy dust.

So outcomes based on sub-£6m settlements just don’t stack up if this gets sorted commercially rather than rammed thru arbitration. DYOR. GLA etc

Yep. Still valid 👍🏻

I think this gets resolved before the new year @Golf so Xmas would make sense 👍🏻

Dear lord 😂😂😂😂

👏🏻

We’ll get a big clue in advance of news by watching Conrad’s share price - when they jump 15%+ we will know EME have reached a deal on their 8.5%. Just a matter of time IMO