Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
In Saltfleetby, ANGS possesses a source of recurring revenue and cash.
The £20m debt facility is underway, so the company should soon be sitting on cash in excess of its immediate requirements.
Imho, these are strengths that should not be under-estimated in current market conditions.
Once the global refinancing has been completed ..., the company will be working on 4 main priorities:
1. Optimise the recovery from Saltfleetby Field and the value of the field ...
2. Generate value for shareholders from the currently shut-in oilfields operated by Angus in the south of England ...
3. Initiate a project to evaluate the longer-term potential for gas storage or gas disposal at Saltfleetby.
4. With the company’s financial situation secured, look at growth options for Angus.
(abbreviated answer to Investor Question asked on 01/02/24)
Not Oofy P but can provide an answer:
GL sought to raise funds via debt in order to relieve the strain on shareholders but he never said there would be no further placings.
In the last, 21/22 annual accounts:
"The Directors determined that the net present value of the HH-1 well was £0.8 million ..." (Note 12, p56, Oil & gas properties).
"The Directors have determined that the net present value of the Horse Hill development to be £11.4 million, which takes into account drilling of additional wells in the field, and supports the value of intangible assets of Horse Hill". (Note 11, p55, Intangible assets - Exploration & evaluation assets).
That is, management attributed to HH as a whole a net present value 14.25 times that of HH-1.
We continue to await the judgement of the Supreme court in the case brought by Sarah Finch.
"Underway" may mean measures to secure the debt.
Glad to hear you are sure it is underway.
Are you suggesting the refinancing is not underway, Bubblepoint?
"The refinancing is underway ..." - that sounds very positive.
The PEA produced a net present value for Amitsoq of $235m at a discount rate of 8%.
If the project can be accelerated by, say, a year, that is a year's discount of 8% that is saved and the npv is raised by about $20m to $255m.
Magoo247,
The ETA was pushed back a bit in this answer to an Investor Question asked on 01/02/24:
"Once the global refinancing has been completed, anticipated to be by the end of February, ...".
... Natural graphite has been on its own wild ride – down some $300 from this time last year to the early $500s a tonne now.
To power 1 million Cybertrucks, Tesla needs the natural graphite of the world’s number two producing country, Madagascar, according to the USGS.
If most drivers want to go the extra mile add half the output of world number three Mozambique or most of fourth-ranked Brazil ...
“I think that it will accelerate our project by several months, if not a year or so. We expect to be able to apply for our Exploitation Licence by the end of this first half of 2024. And I'm hopeful also that we'll be able to receive our permit before the end of this year. We'll conclude the environmental and social impact assessments, go on to the impact benefit agreement. We can also start our pre-feasibility study leading on to the definitive feasibility study, which we expect to conduct in 2025, then start raising the capital and start construction in 2026” explained Stefan Bernstein, CEO, GreenRoc Mining.
Very positive interview, SB opens it with a broad smile on his face.
GreenRoc Mining (AIM:GROC),the exploration and development company focused on critical mineral projects in Greenland, has announced a major positive change in the Greenlandic mining laws, which will accelerate and de-risk its ‘world-class’ Amitsoq graphite project in Southern Greenland ‘by several months if not a year or so’.
SB opens the interview with a broad smile on his face, yesterday's RNS is very positive news.
Https://www.lse.co.uk/media/GROC/stefan-bernstein-ceo-of-greenroc-explains-how-law-changes-in-greenland-will-accelerate-amitsoq-pvb162fybu1x28o.html
“I think that it will accelerate our project by several months, if not a year or so. We expect to be able to apply for our Exploitation Licence by the end of this first half of 2024. And I'm hopeful also that we'll be able to receive our permit before the end of this year. We'll conclude the environmental and social impact assessments, go on to the impact benefit agreement. We can also start our pre-feasibility study leading on to the definitive feasibility study, which we expect to conduct in 2025, then start raising the capital and start construction in 2026” explained Stefan Bernstein, CEO, GreenRoc Mining.