Member Info for nordell

You are more likely to be quizzed about wasting police time - honestly just ignore it, delete posters and refuse to be triggered

Yep, we don't want to lose 20.6

Https://www.tradingview.com/x/Khb3aQ8P/

Good grief - my trading view is fcuked - will post later

Sorry - this..

https://www.tradingview.com/x/LB9keH84/

Https://www.tradingview.com/x/PgQig01r/

Is that a good thing?

Hi daramuda

I posted this a few weeks ago

Https://www.tradingview.com/x/BnAjfRWD/

t1 - 18.50

t2 21

t3 25we did need some consolidation - And we are getting a health one - targets were prior highs- but longer term it looks like we have a nice wyckoff consolidation we have broken out of - maybe someone else can comment on that as i am not a wyckoff trader

this is latest chart - bouncing off the daily 20 MA in red

https://www.tradingview.com/x/nIYBgg7H/

Https://www.tradingview.com/x/BnAjfRWD/

t1 - 18.50

t2 21

t3 25

Tech looks good - nice accumulation and break out

Who has got 20 years ffs

Come back jimmy - a voice of common sense amongst the hype and BS

Just had this through "Argo Blockchain UK has announced an opportunity for holders of the ordinary shares to choose to convert all or part of their holding into American Depositary Receipts (ADRs)." what does it mean please?

SOU had a write up about hydrogen. in tory. graph

I presume this is a very outside chance – what's the cut-off date for any possible improvement in the offer due to another bid?

Bloody scam this company

Thanks for the advice Couerdelion, much appreciated. It will of course take me a bit longer to filter those links out, rather than cutting and pasting twice to fit into the boxes here, so perhaps, if its not too much trouble, you can ignore the links? If not then its about 200 GBP per year to subscribe FYI

PART 2

Unlocking value across the business

Chariot’s involvement in Etana also unlocks its direct equity participation in several significant wind and solar projects in South Africa and provides a second material revenue stream for the group. In particular, Chariot is working alongside a major European independent power producer on three wind projects totalling 315MW directly linked to the offtake customers as part of Etana’s wheeling capacity. Progress is ongoing on the development of a 40MW solar project at Tharisa’s PGM mine in South Africa, too.

Financial close on these generation projects is expected in the coming months. Chariot’s equity stake is expected to be financed at the subsidiary level, with investment partners committing up to $30mn. Chariot’s share of net cash profit from the initial projects is forecast to be in the region of $9mn, and participation in future generation projects offers wide-ranging growth potential.

The group’s renewable power business offers lower risk and more predictable returns than those of high-impact oil and gas, so it makes sense to spin off the business so that its value can be properly recognised by investors.

The upstream portfolio encompasses three distinct projects in Morocco: the Anchois offshore gas development, offshore oil and gas exploration across the wider Lixus and Rissana licences, which have drill ready prospects, and onshore gas appraisal in the group’s Loukos licence, a low-cost and high-value commercial opportunity. Chariot needs to attract partners to help fund and deliver further work programmes and has received interest from parties who are potentially interested. Chariot’s pre-tax loss widened from $15.6mn to $22.3mn in 2024 mainly due to non-cash impairment charges on its exploration assets and inventory.

Analysts at house broker Cavendish value the shares at 5.9p, or four times the current share price, on a sum-of-the-parts basis. A successful demerger of the renewables business and securing partners on upstream oil and gas activities will be key to narrowing the gap and reversing the share price decline since I rated the shares a speculative buy, at 1.93p (‘This Africa-focused energy stock has recovery potential’, 4 December 2024).

However, if the demerger is not concluded, the directors anticipate a cash deficit from the second quarter of 2026, albeit they are confident of securing alternative financing options at the subsidiary level to fund ongoing project work and overheads. Hold.

$7.1mn oversubscribed equity raise

• Plan to demerge renewable power unit

Aim-traded, Africa-focused energy group Chariot (CHAR:1.5p) plans to demerge its renewable power unit from its upstream oil and gas business to unlock shareholder value. A placing, subscription and open offer raised $7.1mn (£5.2mn) at 1.4p a share in May to strengthen Chariot’s balance sheet ahead of the demerger and to secure Chariot’s participation in wind generation, gas and new upstream assets.

Specifically, Chariot holds a 34 per cent economic interest in Etana, an electricity trading business in South Africa. The business is focused on providing competitive, sustainable end-to-end energy solutions through the connection of power generation projects to commercial and industrial users across South Africa’s national grid.

South Africa is the continent’s largest energy market, but has experienced significant electricity supply issues for a long time, with many instances of controlled power outages. Additional power of 30GW is required within five years to address the supply and demand gap, so the government has permitted private electricity generation with a focus on renewable power as a long-term energy source. This widescale deregulation created a material market opportunity and Etana was one of the first companies to receive a trading licence from the South African regulator.

Etana has recently secured $175mn (£128mn) in guarantee finance and equity investments from major financing institutions, which could unlock over $500mn-worth of renewables projects in South Africa. The first of these projects is the 75MW Du Plessis Dam PV2 solar project, which reached financial close in March. It is being constructed by Mulilo, one of South Africa’s largest independent power producers, and provides Etana with its first 20-year purchasing power agreement for the entire offtake.

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The $20mn equity investment portion of the Etana financing provides an estimated read-through valuation for Chariot’s economic interest in Etana of $34mn (£24.8mn), which more than backs up the group’s market capitalisation of £24mn. The financing also supports Etana’s growth and working capital requirement through to first revenues. The directors envisage that average margins of 15 per cent can be achieved on traded volumes across the initial wind and solar project portfolio, which would deliver both gross cash profit and annual pre-tax free cash flow of $10mn within two years.

Less than it was in March!