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Limited number of shares available on the offer with a decent bid (compered to recent times).
Large prints after market - would look like over hang has gone....
It has now been over 6 weeks since the placing was completed at 0.9p and the RNS alongside it mentioning the £12m debt facility. You have to think that we are getting very close to an update one way or the other (positive or negative)!!!
I think / hope it will be a positive one... if he GL can pull it off then i think sentiment will change drastically! However 6 weeks is a long time to keep people waiting!!!
2 large delayed Prints Wednesday and Thursday, along with the £20,000 that just went through at 0.65 (after a succession of buys at 0.69) room for this to move higher now the seller is cleared?
Crocqman - I dont think they will get more than the £12m they are aiming for, maybe part of the reason they are holding the GM to allow more new shares is that there will be something along side the £12m in regards to warrants (hopefully at a large premium)
Wouldn't it be considered misleading the market if GL comments were not true about the interest and value by funding partners.
Also if they were clearly not able to secure the finance would that not be considered price sensitive information? meaning that he would be obliged to RNS that fact.
As such, I do no think the final statement in the most recent RNS would not be allowed if it were not true!
Also on the investor call GL said something along the lines of it being a matter of how much it will cost not if they get it. Again, i am sure the NOMAD would not let him make these comments if they were untrue.
So i think that we will see a funding RNS very shortly
I think they are cheap down here and offer a good risk to reward investment. If / when we get the green light on the £12m, you would have to presume this goes back to at least the 1.5p highs it hit of the back of the Royal Dutch Shell off take agreement RNS. As they would be in a position where they are funded to put the infrastructure in place to satisfy the off take.
Look at it from a creditors point of view. Asset is plugged into national grid and being sold to Royal Dutch Shell, stable jurisdiction and on shore. I am not surprised GL has said he is very pleased by the interest and the value the funding partners are putting on the asset!
Yes, I do not see the company as desperate at all.
I am excited to see what value the funding partners are putting on the asset. If GL is very pleased with the value they are assigning to it, that means that we should be able to get favourable rates and will help the share price maintain a move higher as it underpins the value of the company
I see yesterdays RNS as a positive one. More money being spent on long lead items, I would rather see the last £58,000 hit the market in new shares (knowing it is now clear) and use that £58,000 as deposits on the long lead items.
GL is not silly, he would not be putting deposits down on these items if he was not sure the £12m was coming, he will be speaking with the lenders and will know if the money is coming or not! So this plus the fact that they have put the pipleine in to connect to the national grid, says to me it is just a case of when and how expensive in regards to the £12m.
Ocelot, I think you are right. I think its a case of getting the right terms on the financing now. They would not be spending the money and starting to purchase the longer lead items if they were not confident that debt financing was already there!
Nice £50,000 buy went through earlier this morning. Clearly someone out there likes the story
It is also nice to see them updating Twitter with updates on how the work is progressing.
Good to see that they are using the money they raised to progress the business and getting everything connected to the national grid.
This is moving quick on quite a small a mount of volume. Who ever was selling must have now stopped.... hence the move higher. 0.8 offered very soon!!
JD agreed.
Look at it from the funding perspective. They are plugged straight into the national grid. selling it to a teir 1 and the debt is collateralized against the asset.
They get 9-11% interest in the loan or they get a producing asset that is plugged into the NG and a tier 1 buyer, seems like a good risk to reward for them
Re rate on the cards then......
I really do not think that they would have started this work if they were not sure the £12m was coming. They wont be able to get another placing done any time soon, so why risk spending that cash if you wernt sure?
GL just trying to make up for a little bit of lost time
amendment to the below post - not were selling - will be selling
They got as high as 1.5p off the back of the RNS that they were selling the gas to shell. they are now putting the infrastructure in place to service that deal. Funding around the corner... I think its well worth a punt
If they have started the work they must be pretty confident the £12m funding isnt far away...?
The fact of the matter is that this was over 70p last week and all that has changed is a 2 week delay to the deal with MWG. They have only had positive news out, dont see any reason why this cant go back and test highs
Hmmmm..... does that mean we have something due soon?