Member Info for nomlungu

Tropical Storm Fred developing - could get interesting:

https://www.accuweather.com/en/hurricane/tropical-storm-fred-breaks-atlantic-lull/996922

Delays are never good news, especially in a company that has no production / income / cash flow other than debt or selling shares.

The Rukwa basin is nearly 25 times as big as Cornwall; there are 80 000 square kilometres to look in?

The RNS states that Angus will:

"redouble our efforts in the work of Transition away from hydrocarbon assets... This is now not simply the correct strategic shift for the Company and its shareholders, but clearly an urgent mandate from a much wider group. We expect to update the market shortly on our own advances in these transition projects."

And how much money that they do not have will they want to spend. Will management need to be paid more for the extra work or will new employees be needed?

Interesting use of the phrase 'will not materially impact Angus's position'.

A cynic reads that there is an impact, but probably less than £1m provided there are no further slippages [the auditors material impact is probably 5% of assets].

The eternal and unanswered question becomes more important - when will the next financing event occur. Will that event be a fundraise at a discount to the prevailing share price?

The dead cat might just be inflated with gas, so is bouncing? But then some of you like trading volatile explorers...

under 10p on google

'Time to buy more?'

As long as you plan on trading... It is a popular share, so there will always be retail buyers. But what discount will wholesale funders want on the next fund raise? Even if they have enough for the next round of drilling, you can expect management to raise more money before those results are known.

They normally want a buffer to keep the show on the road if there is more disappointment - there are always important bills to pay, like directors salaries.

The IRR of 29.4% is a stonking return; nearly as high as a credit card for someone with no credit.

Respect to the team that did the due diligence on this deal.

HE1 - oops. Good thing mick-b took a chunk off the table.

https://www.investegate.co.uk/helium-one-global-ld--he1-/rns/completion-of-drilling-tai-1a-exploration-well/202108110700112260I/

The pillow man is proving china made Biden president - comedy gold

https://www.youtube.com/watch?v=6TL3h5ILUw8

Bluejay story

https://www.thedailybeast.com/jeff-bezos-and-bill-gates-backed-mining-venture-in-greeland-could-threaten-arctic-ecosystem-scientists-say?ref=home

Over 30 years ago, they did home deliveries to my 90-year-old gran in a tiny village on Anglesey. They even put the stuff in the fridge / freezer etc.

Daily Beast article

https://www.thedailybeast.com/jeff-bezos-and-bill-gates-backed-mining-venture-in-greeland-could-threaten-arctic-ecosystem-scientists-say?ref=home

In the UK, people are buying the pigeon and rabbit treatments from Amazon

'Farm Supply Stores Are Running Short on a Horse Dewormer/Pseudoscience COVID Cure. “The hardship comes when you run to your farm supply store and they don’t have [ivermectin] on the shelves anymore because of all of this.”'

https://slate.com/technology/2021/08/ivermectin-covid-cure-farm-supply-stores.html

https://www.amazon.co.uk/s?k=ivermectin

Watching the devastation in Greece reminds me of this article about leaving fires to burn naturally in Yosemite National Park. Rather leave a fire to burn than put it out, otherwise when the big one comes along all the fuel is still waiting.

https://news.berkeley.edu/2021/08/09/how-wildfire-restored-a-yosemite-watershed/

If the US Courts say he owes $X million in compensation and the Duke refuses to pay, can Crown property be seized as it is legally owned by his family?

What people like to ignore is that the warrants do not have to be exercised. Warrant holders tend to exercise the rights to crystallise profit by selling the shares they buy by exercising those rights.

So people think that when the strike price is reached someone is going to exercise their rights to sell the shares at no profit and, most likely, damage the share price below to below the strike price by offering more shares for sale than the market wants.

Not that likely... Back in the real world, when will the next financing event happen?

'Emergency powers to handle post-Brexit queues of lorries heading for France are being made permanent, signalling the government expects further cross-Channel disruption.

Operation Brock, a traffic management system designed to cope with queues of up to 13,000 lorries heading for mainland Europe across Kent, was meant to end by October 2021, after being extended once when the Brexit transition period ended in December 2020.

But ministers are planning to make the provisions indefinite by removing “sunset clauses” from the legislation that set out when the powers would expire, the Guardian has learned.'

Brexit must be going well?

https://www.theguardian.com/politics/2021/aug/10/emergency-brexit-powers-for-lorry-queues-to-be-made-permanent

'Drill or not gas will be produced and sold in January 2022 till March 2022 to bring in enough cash for Lidsey to be drilled and pay back loan.'

So in 3 months you are expecting close on £20m from gas sales? Over £100m per year? From Poundfield? A Billion £ over the next decade?

You might be a little over optimistic.