Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"Uppgard Konsult AB provided limited responses to the Company's questions and confirmed that they are acting on behalf of an unidentified third party. Uppgard Konsult AB indicated that they had a mandate to complete the purchases disclosed in the offer. Uppgard Konsult AB did not disclose who the offeror is but indicated that the offeror intended to issue a press release in due course."
The Press Release (assuming they issue one) will probably be this week. Plot thickens.
yes backdoor offer - starting at x14 times the current share of Petroteq.
Offer 0.48 euro = 0.71 Canadian.
Petroteq closing price Friday Canadian $0.05; 0.71/0.05 = x14.2
A suitor could not accumulate 200M Petroteq shares in the open market, so the offer (if real) targeting holders of 1M or more. I can tell you that even if this is for real the offer would be rejected, outright. $0.71 per share is a nonsense for this technology. If real, the offeror is praying on the fact that the current share price Petroteq is priced to fail and has been for many months. The Petroteq Chairman has privately stated they won't sell out for less than $1B min. That $2.2 per share. You can see why a predator would want to accumulate as may shares as poss this way - outside the conventional way.
If nothing comes of this what it does is highlight the undervalue.
Should also rub off on Tomco - the inference being that the technology is a commercial runner.
Lets see - the offerer has said they will be issuing a Press Release about their intentions, but not said when.
There is no public offer - yet - that’s why.
This is a way to accumulate stock in a company without the market going crazy - the free float is small so trying to accumulate 200M shares in the market is a non runner for a potential purchaser.
If this is for real we should hear more this coming week. Very interesting development.
Simple - any purchaser steps into Petroteq shoes for deals entered into prior to any takeover. The purchaser then controls future licensing deals, terms etc going forward.
That offer - if it is credible - is 13 times Petroteq currently share price.
The Petroteq Chairman and CEO has always maintained there would be no sale until an offer at least US $1 billion pops up. Euro 0.48 is equivalent to $0.71 Canadian, around $360M Canadian- so well short.
Very interesting development.
Next week should be fun!
Very interesting if true:
UPPGARD KONSULT ABSwedenVoluntary public offer to Petroteq Energy shareholdersSecurities code A2DYWC, ISIN: CA71678B1076Uppgard Konsult AB, Sweden, offers to the shareholders of Petroteq Energy to purchase their shares (WKN A2DYWC, ISIN: CA71678B1076) at a price of EUR 0.48 per share. The minimum purchase is 1,000,000 shares.The offer is initially limited to 200,000,000 shares. For larger quantities, please ask. In addition, acceptance shall take place in the order in which the declarations of acceptance are received. The offer ends on 30.06.2021, 18:00.The public offer to buy as well as the purchase contracts concluded on this basis are subject to German law. This offer is not intended for shareholders in any jurisdiction in which this offer violates the laws in force there.Shareholders wishing to accept the offer are requested to declare this by 30.06.2021, 18:00 at the latest to Uppgard Konsult AB, Lastgatan 4, 775 54 Krylbo/Sweden, telephone: 0046 8 525 00 601, e-mail: info@uppgardab.com, and transfer the shares to the depot of Uppgard Konsult AB. The purchase price will be transferred to a bank account to be named by the shareholder immediately upon receipt of the shares. Krylbo, Sweden, 13 April 2021
New pics of the site - hit link below and scroll down
https://www.petroteq.com/operations/
https://www.petroteq.com/operations/
Status
FEASIBILITY CONFIRMED AND OPERATION BEING CERTIFIED.
Maybe a sign alls well : )
https://www.petroteq.com
from last November - this sets out the relationship with Greenfield / Valkor:
https://ir.petroteq.energy/press-releases/detail/366/petroteq-energy-signs-non-exclusive-multi-site-license-for
Greenfield via Tomco have effectively financed the engineering upgrades at the Petroteq plant over the past few months in return for a US Petroteq licence. Petroteq were cash strapped at the time - so a smart move to get the plant upgraded whilst retaining full ownership of the IP.
Rewhbe is correct. Petroteq are very much involved in the current trials, believe it or not. Petroteq RNS 28/4: "We determined....we expect.....
George Stapleton, Petroteq's COO, commented: "After optimizing the extraction process following initial plant start-up, we determined that certain equipment additions would improve not only the process of extracting bitumen from the oil sands ore but also the removal of clay fines from produced oil. The required equipment has now been installed and commissioned, and we expect that the projected improvement in operating efficiencies will help support the third-party review of the commerciality of the extraction process. We will look to fine-tune the ?various plant systems with the view to increasing production rates and, if warranted by operational and economic conditions, moving to a two-shift operation. Much has been learned from operation of this demonstration plant and all of these lessons learned are now being incorporated into the Front End Engineering Design ("FEED") of a 5,000 barrel per day ("BPD") production train, which is currently underway."
Remember who owns all the IP here, Petroteq. The rights over engineering updates etc being carried out by Valkor is all owned by Petroteq - part of the Licensing Agreement. That's why they are involved, strangely it might seem to some, lol
https://s3.amazonaws.com/content.stockpr.com/sec/0001796993-21-000008/0001796993-21-000008.pdf
Meanwhile Petroteq Chairman takes his holding in PQE to 5.56%.
All coming together : )
https://s3.amazonaws.com/content.stockpr.com/sec/0001062993-21-004070/0001062993-21-004070.pdf
For those interested in buying Petroteq
https://www.hl.co.uk/shares/shares-search-results/p/petroteq-energy-inc-npv
Not sure if the purchase/sale is routed by a Canadian partner, quite possibly, but the user experience is such that the transaction appears seamless. Latterly though I have noticed that the transaction is via fill or kill, so that way could involve a Canadian broker.
Either way though an easy user experience.