Member Info for nomadicinvestor

I've also heard 75p by next Tuesday. You heard it here second.

Probably seeing near term value. Funding should be sorted soon. Share took a hit on funding delay and people bailed. Realistically this is a good entry point back in. The mcap of £20m is crazy. Unique thing with I3E is the 100% ownership (before jv anyway). Lots of companies, such as JOG, only have small percents of licences. Not knocking having a small percent but shows how much there is to gain here. In my opinion we are looking at circa 3-400m mcap by end of next year. A few oil juniors with production in the 3-5000 bracket easily supports that value and likely more.

That’s the intention. I first invested back in 2015 I think and pretty sure BCN were meant to be producing this year. It’s all a bit slow so let’s see.

It’s all about funding isn’t it. I’m sure by the end of Feb it will suddenly shoot up and a couple days later we will have funding in place. Bid date set in February apparently so not long to wait until a more clear timeline for funding. We know i3e are (contracting) drilling in June. I think on announcement we will definitely see new highs and probably over 200 quite soon after. We were at 120s before and that wasn’t in the full knowledge of Serenity and the new plan. Far far larger.

Was hoping for some nugget of information but not sure why it’s been updated. All facts, figures, charts etc exactly the same. In two minds here whether to hold or increase my stake. Already topped up a decent amount here around the 21/22p. Doubled the amount of shares I hold and for half the price. Seems a bargain but then is it just doomed to fail? No doubt on funding news this will blow but then when will funding be announced? Q1 the target, that still realistic? Lots of questions and that’s why BCN are where they are. Peter Secker is holding cards very close to his chest. Also little is known about the proposed spin off for Zinnwald. Will current investors benefit much or simply new ones?

Will never understand how only nine small trades today, evenly spread, ends up with a 3.6% loss. That's almost 800k removed from the market cap. Anyway, long time since I've bothered myself about this.

Debt and JV partner paying for 2019 drilling. Anyone wanting in will have to buy on the open markets. Will greatly benefit current shareholders. 20k bopd within 18months and 70k barrels within 5 years. Liberator and Serenity looking very good.

This has been largely under the radar with most publicly in Guyana quite rightly going to Exxon. That will change this year and expecting another great year here. Been in since IPO at 17p and it’s been a great share. Gil knows what he wants to do and he executes it.

This will re-rate in February when the jv deal is announced. Will show a clear level to the market of what our current worth is. £2 is only roughly £85m mcap, would say that is cheap for three North Sea drills over a summer. It’s not unrealistic to see twice that by year end. More if confirmed success and reserves.

Very positive news from I3E. Three wells in 2019 (had stated only two), debt almost agreed for 100-130m (had said circa 50m), advanced discussion for use of Bleo Holm and for our own stand alone fpso for backup, as well as jv bid date to be set for feb. I make that five pieces of excellent news.

Board have done the classic under sell and over deliver. Should see a positive response to this today.

Can anyone copy it here ? Can’t view it.

I've posted to this before, but in my view the markets (quite rightly) are factoring in either BCN getting no funding or funding at an incredibly poor level for shareholders. While this is having a bad effect on SP, ultimately it has presented an opportunity. I've been adding consistantly for a while now all under 25p.

I think the market will be pleasantly surprised when funding is confirmed and it is going to be in a different form than expected. Previously keeping 100% of the asset was the goal but now giving away a percentage of that makes far more financial sense. Very relaxed about my position here.

Definitely. I3e is just back to the price it was meant to list at. This is now a year further on and in that time huge progress has been made. Not forgetting the 30th round and our new Serenity block turning an already good size field into a potentially huge field. FDP approval and funding within the next few weeks or months. Sub 100p is very good value

InJames - this is exactly why I didn’t mind ECO giving so much of our stake away to Total for a low offer. I don’t think a company of this size could feasibly deliver, in time or money, the resources that Guyana will require. It’s also not realistic to think that because the asset is potentially massive that funding would be easy to find. I think the ECO board were savvy keeping our share at 15%. This is a manageable figure and one we can reasltically keep. Any more and we would end up in financial difficulty and probably end up being taken over for little to no money, or have to relinquish our stake. Guyana and Orinduik should be very interesting in 2019. News in next few weeks about drilling and can see a steady rise here.

Germany are also a highly patriotic country when it comes to using their own resources. If given a choice to buy lithium from a german mine vs a Czech mine, the German one will be selected every time. This makes Zinnwald a very interesting prospect once all Germany’s car manufacturers shift over to electric. Look forward to hearing about the spin off company. Also a switch from AIM to the main market in 2019 will transform BCN as an investment case. We have maybe a few more bumpy months until funding but bottom seems to have been hit. All up from here (... got to try be confident this early in a year, given what happened in 2018!).

It’s way oversold here and it’s probably sunken in that any placing is unlikely at these levels. Solid buy if you believe funding will come in Q1. I added over 30% to my holdings down at 21s. Held off topping up at 50,40,30 but couldn’t not add when we hit below 22. RE Blackrock, they’ve just reduced their position for whatever reason. They probably hit a 60 or 70% loss and ‘have to’ sell some due to policies.

AGM and special gm - all passed. Anyone know anything of note? Funny time to hold a special AGM. Had a look on sedar, all seems normal stuff.

The original plan was to get debt agreed first, followed by key investors and subsequently equity. Now BCN are having to try to get more key investors or 'project level' funding. Ideally this should happen first and then go back to the markets.

Total funding required is 460m. BCN have 150m debt, Hanwa and Oman are putting in 90m, so we need 220m dollars more. That means we have 500m shares to issue and we need to raise 310m dollars (90m + 220m). 310m dollars is £244m which divided by 500m shares is a minimum issue price of 48p per share. Of course this doesn't take into account 'project level' financing. If we get say £75m by selling portion of the asset, the minimum issue price for remaining equity becomes 33p. Still well above todays price, but ultimately much lower than I would have thought 12 months ago. So best to take advantage of the market.

It was interesting that BCN tweeted that lots of activity in the lithium sector was happening at high premiums. I suspect that was a sign of reassurance. PI's may get the offer to be involved in an equity raise but I don't think it will be at lower, or even close, to the current price.

I think it’s slugish as it is a long slow and fairly complex process. Also quite expensive for a low IRR. However, this doesn’t really take into account the changing world and our reliance on lithium within a years when a major chunk of cars will be battery powered. Also the eventual value of the built mine and processing plant. Once up and running BCN will be a multi-billion dollar valuation if ever bought out. Until then, it’s all about risk and the markets don’t take any. Fortunately, us private investors can and at £28m mcap, regardless if there is even 75% dilution, it’s still a bargain. Or I lose 10k and the world won’t end.