Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
A 60 handle not helping sentiment but allows the opportunity to build a big position
Very bullish for Afentra model ...
https://www.proactiveinvestors.co.uk/companies/news/1031975/corcel-shares-whirl-after-striking-oil-in-angola-1031975.html
This wasn't as modest a discount at the time it was struck, this would have taken a while to complete and SP would have been closer to 5p or above. But funds are not as easily available as they were 5-10 years ago and many AIM placings I have seen recently have been 30-40 or even at 50% discount.
Predicting a placing on AIM is like saying the sun will rise and fall today. This is a natural course of action for junior explorers and comes with the territory, however I am personally dissapointed they have not waited at least a month now they are actually drilling. A few postive results and we could have been easily placed above 5p.
Good news that it is oversubscribed and Sean's enthusiasm is increasing judging by the tone of his message.
Anyway it's out the way now ... time for Sean to deliver the now "expected" results to back himself up.
ODR
Given the delays of the first license's, it's not surprising Paul is not prepared to commit to a specific date etc.
It will probably be delayed .. who knows .. best to accept that and be pleasantly surprised if not.
Regardless, we will still benefit from accrued crude inventory if so.
Rome wasn't built in a day. These guys know what they're doing so happy to park my money with them and let them get on with it.
Done very well so far ... however, no other reason that a gut feeling that we need some more positive news to maintain current levels.
This is AIM after all ! plenty of "punters" will take their chips off the table if they haven't made a million in 10 mins.
Will be better off without them of course
Agreed ;o)
Look at all the bitter sad derampers LOL !!!!
"Long way to go" ... funny that
Comes with the territory I suppose :0)
High risk but compelling
I have a position but planning to double ... tempted to buy now
On balance I think I'll hold out until first RNS with meaningful positive indications before committing any further funds. As mouthwatering as the CEO has described this, it's still a bullish Aussie holding a shovel next to a hole with a promise.
Fantastic risk / reward if they do find a commercial resource but as of today still very risky
Speculation that these are placing shares being sold for a few % profit
looks likely to have been a sell then
Don't think this is a leak .... probably the recent seller almost exhausted and buyers getting back in control
Hope ZENGAS doesn't mind ..
Panoro Energy's m/cap = £233m
Net debt $46.8m
It's African 2P = 35.8 mmboe. Production = 7,000 bopd.
Their quarterly dividend is $3m ($12m/yr $70/b oil)
Also " Panoro intends to pay out a USD 20 million core dividend in 2023 on a quarterly basis in cash weighted towards H2 and subject to average oil price realisation remaining above USD 80 per barrel"
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If the deals soon close here, it should leave Afentras net debt substantially much, much lower than when the deals were announced.
Roughly 4800,bopd and 28 mmbo 2P with production intended to ramp up.
Also looking at similar sized deals to consolidate.
If they too were to introduce a similar sized $12m dividend in the next year - 18 months it would be a yield of over 20% at these levels or 4.3% if the share price equalled 100p and a m/cap of £220m which would still be lower than Panoro and on that basis i've added at these levels myself with oil now through $80/b again.
well they can't sell twice thankfully .. I suspect another blue day tomorrow
Perhaps a large buy to be revealed on or after the close
Hopefully found a bottom
.. Directed at Quiggers52
what a load of old b*llox ... pretending you are holding and happy to sit and wait to lose all
Dear oh dear
All I have seen in your posts is a consistent detrimental tone dressed up as trying to sound like a genuine holder offering a balance view
Tut tut ... embarrassing
..."Some people have got hung up on the 2 million tonnes" No mention of the guarantees and comments from CB that it is in the bag, given it's importance to the AA buy in, it's been seen as a huge gaffe or ramp or both, Hence zero trust in the CEO now.