Member Info for Phoebus

That I agree with. It certainly appears they were under pressure at WTE having bought in around 16.5p last November and sold out around 8p this August just as the party is getting started. I see their exit here as the removal of an overhang and bullish.

Jokes on you.

I'm always cautious when I hear George or Warren have done something. Dennis Gartman looms large in my mind.

Chart needs to build back batter.

They sold down at WTE too. Turnips.

Did you look at the UK gas price chart?

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5188706&span=2

Fully aware. Taking a rational look at valuations and financing is sensible not deramping. This has upside, but remains risky until they have funding sorted.

Major red flag. No reason to pay 12p for shares when you could buy them in the market at a huge discount. A token amount too. When's the placing?

'Assuming a P10 oil in-place volume for the Jade prospect increases our unrisked valuation from an estimated c83.7p to c135.7p.'

Taking the 2U (P50) OIP figure of 187 MMB and multiply that by a 30% recovery factor and assume CNOOC exercises its back in rights gives 27.5 MMB 2U recoverable net to EME. Assume 6p for Duyung then the baseline target for Jade quoted here is 76.7p per share. EME has 573.12 shares in issue at present so an addition of 76.7p per share for Jade base case equal a £368M increase in market cap. That is $18 per barrel and looks way over the top IMO even before taking further dilution into account.

'Assuming a P10 oil in-place volume'

I like EME, but its not helpful they use P10 and OIP figures for such valuations. Takes over egging it to a new level and sends the wrong message IMO. Even these guys would be embarrassed. :D

https://ichef.bbci.co.uk/news/976/cpsprodpb/1704/production/_97329850_omelettefrafp.jpg

'Assuming a P10 oil in-place volume'

I like EME, but its not helpful they use P10 and OIP figures for such valuations. Takes over egging it to a new level and sends the wrong message IMO. Even these guys would be embarrassed. :D

https://ichef.bbci.co.uk/news/976/cpsprodpb/1704/production/_97329850_omelettefrafp.jpg

Also, make sure to use the right figures when evaluating the opportunities. 225 MMB sounds great for Jade, but that is the the P mean figure and is measuring oil in place and not recoverable oil. If we take the 2U (P50) OIP figure of 187 MMB and multiply that by a 30% recovery factor and assume CNOOC exercises it's back in rights then the actual size of the drill net to EME is around 187 x 0.30 x 0.49 = 27.5 MMB 2U recoverable at 32% COS (CPR), 41% COS (internal estimate). This compares to 17 MMB 2C recoverable at 95% COS for ADV and up to 175 MMBOE 2C/2U recoverable at an average of 64% for CHAR. EME definitely has potential, but it doesn't explain whey the unfunded stock is outperforming the fully funded ones IMO.

Can't get my head round why this is going up when it's not funded for drilling whilst CHAR and ADV which are fully funded are gaining little traction. All are supposed to be drilling by Christmas, but EME drill has a much lower COS that the other two and CHAR in particular is way cheaper on a net BOE basis. Not knocking EME, just expected this would be the laggard. Pump before another placing perhaps?

Nothing against EME, but it is NOT funded for its upcoming drill. CHAR and ADV are both funded yet are not much over cash per share and gaining little traction. Seems laughable to me.

ANR moves significantly on almost zero volume and looks completely mispriced at the current tiny £3.4M market cap which seems all the more ridiculous considering almost half is cash.

The LSE listed rare earth stocks are MKA, RBW and PRE and they have market caps of £44M, £71M and £164M, so even the cheapest has a market cap 13 times greater than ANR. They are of course all more advanced than ANR, however ANR's Monte Muambe project looks excellent with high grade, long length intercepts from surface which stack up very well against all of these company's deposits. I see no reason why ANR will not develop in a similar way as the resource is proved up over the next 18 months and other pending projects are added. The surge in rare earth prices only underscore the huge undervaluation here.

In my opinion, the erratic price moves and undervaluation are simply due to the listing on Aquis. Once ANR moves to the LSE investors will actually be able to buy the stock eliminating the eratic movements and closing the valuation gap. I think the board should ignore the threadbare pricing signal being sent by the Aquis listing and do the LSE IPO at a higher price that better reflects the assets and investor appeal of ANR. I you sell steak priced as hamburger, people will think it's rubbish. Start as you mean to go on.

In the meantime, I see this as a strong buy for anyone lucky enough to have access pre LSE IPO.

GLA

Other Newlands holdings should be listed here.

https://investegate.co.uk/Index.aspx?searchtype=1&words=newlands

BTC up again and ARB still not rising? Come on you lumpant turd.

Premium placing at 14p, lots of cash in the coffers, microscopic market cap, high demand rare earths, excellent grades, super shallow, drilling starting very soon, move to LSE getting close and very very hard to buy on the dips ... yet numpties are selling nearly 15% under the placing price. Time to go do some research chumps.

Premium placing at 14p, lots of cash in the coffers, microscopic market cap, high demand rare earths, excellent grades, super shallow, drilling starting very soon, move to LSE getting close and very very hard to buy on the dips ... yet numpties are selling nearly 15% under the placing price. Time to go do some research chumps.

Considering the initial failure at Verbier and ultimate walk away by their senior partner, I'd say shareholders have been very lucky the board has managed to rework the situation through licence awards.