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The financial commitment made by the lenders provides the project with very considerable credibility.

Personally, I'm surprised investors wait to see signs of activity on the ground when the lenders have already committed their funds.

With these kind of prices for gas and a CPR, there shouldn't be any problem raising finance for Loxley.

If their appeal succeeds, then Loxley is looking like a potentially valuable asset.

22.138% rise on Nov 21!

Near gas futures into the 300ps!

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5188706

Near gas futures into the 300ps!

Jeff Currie, global head of commodities research at Goldman Sachs Group Inc., points to underinvestment in fossil fuels as a big part of the problem...

“In many parts of the world, you’ve overbuilt wind, you’ve overbuilt solar,” Currie said in an interview on Bloomberg TV.

“The new economy is over-invested and the old economy is starved.” ... (from Bloomberg)

the Jan 22 natural gas futures contract is now at 290.700p:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5188706

Agree with scotalba's post of 11:14.

Headline article on Bloomberg, again:

European natural gas and power prices soared to fresh records amid worsening fears over supply availability.

Global shortages of gas and coal are pushing energy prices higher, disrupting markets from the U.K. to China, as economies emerge from the pandemic. Surging costs are starting to weigh on industrial production, raising the risk of further volatility as businesses look to shutter output and consumers search for alternative fuels.

“The fiercely nervous sentiment on the market continues due to fears of reduced supply during the winter,” trader Energi Danmark wrote Tuesday in a note. “Everything looks set for another week of price climbs.” ...

https://www.bloomberg.com/news/articles/2021-10-05/europe-s-gas-and-power-surge-to-records-amid-tightening-supply?srnd=premium-europe&sref=Em01M8Hr

DoneK,

Fully agreed. Imho, this stock is well behind the news flow and achievements (including the debt facility) and has only one way to go, up and up very substantially.

From Bloomberg's Subscriber Insider:

The global energy crisis that’s triggering blackouts in China and shuttering gas providers in the U.K. has actually been in the making for years. Suppliers of natural gas and coal didn’t invest in new projects in the middle of the 2010s, either due to unattractive prices or pressure from climate conscious investors, resulting in today’s slowdown in output growth. Frigid temperatures last winter depleted gas inventories from China to Germany, while the post-pandemic economic rebound boosted the need for power generation.

Fuel supplies have been steadily tightening over the last year amid limited natural gas exports via Russian pipelines, production issues at Peru’s LNG production facility and safety problems at Chinese coal mines. Even American shale drillers are reluctant to boost production out of concern that it would crimp their profitability and put off investors. And to top it all off, South America is grappling with one of the worst droughts in a century, curbing hydro-electric generation and increasing the need for fossil fuels.

Now, the energy shortage and record-high prices are forcing factories in Europe to curb operations, and the Chinese government is ordering its state-owned companies to secure supply at all costs. As colder winter weather descends on the northern hemisphere, the situation is more likely to get worse than better. Buckle up. —Stephen Stapczynski, energy reporter

From Bloomberg's Subscriber Insider:

The global energy crisis that’s triggering blackouts in China and shuttering gas providers in the U.K. has actually been in the making for years. Suppliers of natural gas and coal didn’t invest in new projects in the middle of the 2010s, either due to unattractive prices or pressure from climate conscious investors, resulting in today’s slowdown in output growth. Frigid temperatures last winter depleted gas inventories from China to Germany, while the post-pandemic economic rebound boosted the need for power generation.

Fuel supplies have been steadily tightening over the last year amid limited natural gas exports via Russian pipelines, production issues at Peru’s LNG production facility and safety problems at Chinese coal mines. Even American shale drillers are reluctant to boost production out of concern that it would crimp their profitability and put off investors. And to top it all off, South America is grappling with one of the worst droughts in a century, curbing hydro-electric generation and increasing the need for fossil fuels.

Now, the energy shortage and record-high prices are forcing factories in Europe to curb operations, and the Chinese government is ordering its state-owned companies to secure supply at all costs. As colder winter weather descends on the northern hemisphere, the situation is more likely to get worse than better. Buckle up. —Stephen Stapczynski, energy reporter

Your probably the only one who thinks George is doing a great job.
-------------------
That's an easy one to refute because I think GF is doing a great job.

Note re Loxley: even Summer 25 is at 57.500p

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5188706

Sage words, Sageman!

... As Mark has highlighted above, we believe we are now in a strong position to move this project into the development phase, with no less than three significant new target zones identified within the existing envelope of the mine and, no less importantly, being target zones which should be accessible by putting in a relatively modest amount of new development.

It is because of the success of the unprecedented drilling campaigns we have designed and executed at Clogau over the past two years, which have unearthed several genuine development targets within the mine, together with the dedication and skill of our technical team in making sense of what is a highly complex structural setting, that we can now seriously begin to plan the work which is needed to access these new target development zones ... (RNS of 22/09)

Note: even Summer 25 is at 57.500p.

$81.48

OPEC+ virtual meeting today.