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Zero chance of FID this week. That was all but confirmed last week in the end of year RNS
I hope a deal will be done but it isn't going to help with negotiations. If you are negotiating with someone who is going to run out of money in October it gives you a huge position of strength.
Hi KB. This alarmed me a bit. Are they not effectively saying they will run out of cash in October if no deal is done?!
Ceilcourt (who deal with Chariot's investor relations) have come back to me following my query a couple of weeks ago about wither FID in H1 meant financial or calendar year.
Whilst they haven't aswered that they have said:-
"...everything is progressing well at the Anchois Gas Project and the Company will look to update the market shortly".
Should hear something pretty soon then!
thanks
Nick
I have used it as a chance to top up a little bit. I hope I don't regret it but suspect I will! We are now almost 6 months on from the Gas Sales Principles being agreed. There MUST be news soon?!
The communication really is poor. As you know I emailed the investor relations team at Char last week to clarify if H1 was calendar or financial year and I've not even had the courtesy of an acknowledgement.
Jimmy that's really helpful thank you for that. Surfit thanks for your comments as well. Would both of you agree that the likelihood of all of that being completed in the next 28 days is extremely remote? In light of that would you think Chariot will be advising SH's and the market generally that the H1 target will be missed? Surely they can't just let that time frame come and go with no update?
thanks
What further steps are there before FID? Presumably Gas Sales Agreement. Anything else? How tight can these be to eachother? For example if their GSA is signed could the final investment decision follow shortly after? Jimmy maybe you could answer this from your experience.
Thanks
Jimmy was he clear if that was calendar year or financial year?
thanks
Nick
I’ve emailed the Chariot Investor Relations team about H1 FID so will be interested to see if I get a response.
Thanks Gooner. Just looking again at it. Could it actually mean H1 of 2023 financial year i.e. by the end of September 2023? It reads as in half year of the calendar year and would presume if it meant fiscal year it would say H1 2023/2024 rather than just H1 2023 but with Char I find it best not to assume anything!
Morning all. Getting very quiet on here. I think we are all getting very depressed with how this is drifting again with no news. Can anyone remember where the reference to FID in H1 comes from? I can't find it in any of the presentation documents. Was it in one of the interviews? Thanks
Gammer I tend to agree. These things take time and clearly Char aren't going to give a running commentary on the contract negotiations. It seems to me unlikely though that they will meet their target of end of June for FID. Now is the time to be telling us SH that the date might have slipped a bit rather than waiting until that date comes and goes with no news.
Does anyone know the last day volume was as low as it was today? Or yesterday for that matter. Great that no one is selling but no one seems interested in buying either. Is the market waiting for FID?
Could very well be. Lets hope so Gooner. I am probably just being a glass half empty kind of person when it comes to Char!
Ianfer you are right that FID was hoped to be in H1 i.e. by the end of June. I think this came from the presentation and interview given on 12th December 2022. My gut is this might have slipped a little bit and it more likely to come in Q3 (of the calendar year). This is only me speculating though and if that is the case Char should be updating SH on the slippage sooner rather than later.
I'm looking forward to the 20p by the end of the week people were predicting on Monday!
Given its at the same price and has had no obvious impact on the SP I suspect its a sell and a buy. Probably just someone moving their money between accounts (similar to a Bed & ISA). Perhaps added some when they moved it.
If only it was going sideways today! :-(
Jimmy we are waiting...