George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Better not hang around - I hear COO George Stapleton is doing another Stockbox interview this weekend- with airing on Monday.
FEED news maybe, due by 31/7 - so last working week ahead for this if they are on time. Think we are in for a big week, fingers crossed the FEED report and independent ticks all the boxes. If so, a world first for Petroteq technology.
Joe - for your information "investigation" came about via a third party keen to low ball Petroteq. Whoever is was reported matter to SEC who the requested clarification. Possible someone doing due diligence or the party originally involved in 2018. The company have made a statement - the party involved with the original debenture has made no claim against the company, as stated in PQE RNS. It's a an accounting issue - it will be booked as a contingent liability and not paid. If it was serious the shares would have been suspended. SEC are a force not to be reckoned with. End of.
The share price went up 47% on Friday because Uppgard have said - and are now issuing - proof of funds (euro 120M). The share price went up 6% yesterday. That tells you that the accounting issue is a non point, as the RNS was issued late Friday.
I expect to see the Petroteq board to be bolstered soon - they are going to need a strong board to fend off plenty of attention coming their way very soon.
Very interesting, speculation - could Shell be taking a look at Utah? (via Petroteq).
https://www.msc.com/che/news/2021-july/msc-and-shell-collaborate-on-decarbonisation
For those not following the shareholder offer for Petroteq, today 1M plus shareholders are receiving letters showing proof of €120M funds to purchase 200M shares. Digging has revealed a connection with Royal Dutch Shell as the possible offeror. Getting very interesting to say the least!
“Our Oil Sand Hot Stock Petroteq Energy Inc. also has a unique technology for environmentally friendly oil extraction from the oil sands, making it a hot takeover candidate for the world's largest oil sands companies such as Suncor Energy Inc. (NYSE: SU, #SU, $ SU), Canadian Natural Resources Limited (NYSE: CNQ, $ CNQ, $ CNQ), ConocoPhillips (NYSE: COP, #COP, $ COP), Exxon Mobil Corporation (NYSE: XOM, # XOM, $ COM) and Royal Dutch Shell plc (NYSE: RDS-A, # RDS-A, $ RDS-A). “ https://www.boerse-express.com/news/articles/oil-sands-hot-stock-entdeckt-64-mrd-oel-neuer-341-oelsand-aktientip-nach-1570-mit-exxon-mobil-xomnyse-2537-mit-conocophillips-copnyse-5644-mit-suncor-energy-sunyse-und-929561-mit-canadian-natural-resources-limited-cnqnyse-ac-research-346272
http://value-trades.blogspot.com/2021/07/the-two-best-stocks-in-canada-right-now.html?m=1
$5M raise, CEO subscribed for $225K . Commence consistent commercial production at the plant. Good!
"I believe that the subscriptions for more than US$5 million, including US$225,000 of my own money, is an indication that there is confidence in support in our company, our technology and our prospects," said Alex Blyumkin, Executive Chairman of Petroteq. "We are excited to continue to develop our technology and commence consistent commercial production at our plant".
https://ir.petroteq.com/news-presentations/press-releases/detail/383/petroteq-announces-equity-and-debt-financings-including
Zack $0.71 valuation.
Although they touch on sand as a by-product “The incremental revenue received from the sale of the clean sand tailings would increase the netbacks per barrel of oil produced” - this is NOT reflected in the $0.71 valuation.
It will make a very big difference to the valuation. Receiving an expected additional $15-$20 per ton for sand as per 17/6/2021 RNS is a biggy.
Zack will need to revise his target once offtake agreements announced.
https://s27.q4cdn.com/906368049/files/News/2021/Zacks_SCR_Research_06302021_PQEFF_Ralston.pdf
Well I read this that they will not be able to debt finance the whole project - so they will need shareholders to dip in. The real question is, how much?
Personally I happy to watch and see - my main interest is Petroteq and this will become very interesting when Uppgard open up their offer (expect at higher price) to USA and Canada shareholders. There they are under the scrutiny of SEC as full reporting required from the day they issue their revised offer. When that happens I expect Petroteq to rocket. Until now Europeans shareholders have no real protection or recourse on the current offer (tactics of a hostile bid). Very different when the SEC get involved.
"...........we envisage that Greenfield would require funding in excess of US$110 million for the construction of the first plant, the vast majority of which it would seek to finance by way of debt..."
So this confirms that there will a placing to raise some of the capital needed. The question is how much..........
This increasingly looks a real offer now.
Clearly at $0.71 Canadian they recognise that is too low.
Expecting an increased offer on their next update. It is clear whoever is behind this offer that they are not going away.
Easy money to make on Petroteq shares right now. Minimum 3-4 based on the 0.71 low ball offer. Money for nothing.
Watch the market this afternoon, many will be jumping on. Very good.
Good explanation helpful for those clearly confused.
“PQE has confirmed that the output contains about 5% solvent. Solvent is not added subsequent to the extraction process, it is part and parcel of the process.”
And that is why the Petroteq technology is going to be so valuable.
Great update just issued:
https://ir.petroteq.com/news-presentations/press-releases/detail/381/wti-price-paid-for-the-first-truck-load-of-oil-produced
The clear uncertainty is probably timescale and funding. Circa $180M+ site costs etc if dd all good, is no small sum.
Plus as someone says there are still a large number of placing shares looking to exit. Usual risk and ****e AIM.
Timing and exit is everything in this game. Hey ho.