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I still think this is an exercise in “deflection” - The company should stick to its knitting - Anza.

A leading Canadian mineral exploration company, Orosur Mining, has pledged to invest $5 million in exploration of Nigeria’s vast lithium deposits.

This is just as the Nigerian Geological Survey Agency (NGSA) has given assurance that it will support the venture with credible geosciences information on lithium deposits in the country.

Executive chairman, Orosur Mining, Mr. Louis Castro, who made the disclosure at a recent meeting with minister of Solid Mineral Development, Dr. Dele Alake, and the director-general of the NGSA, Dr. Abdulrazaq Garba, expressed confidence in the investor-friendly regulatory regime in the country’s mining sector.

Castro expressed optimism that the first tranche of investment will lead the way for many more investments in Nigeria’s highly lucrative solid minerals sector, especially as the country has come to be known for its enormous lithium deposit.

Lithium Exploration

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Speaking to the minister, Castro said: “I have the honour to announce to you that as a continuation of the company’s strategy of securing high quality mineral exploration opportunities in key jurisdictions worldwide, Orosur Mining has signed a Joint Venture agreement to explore a number exploration licences across Nigeria which the company considers to be highly prospective for lithium mineralisation.’

He, therefore solicited support for the company’s investment decision in favour of the Nigerian mining sector.

NGR - To be fair to TG2D - All he is saying is that whatever the share price is on the dividend declaration date - the price, ceteris paribus, will fall by the amount of the declared dividend

Is there anyone at Nanoco that is actually responsible for marketing?

“..so why do we expect them to be reckless with their own money when they already have vested shares?”

Seriously NGR? It’s called alignment of interest with your shareholders! But in a way you have it right - why should they be reckless with their own money when they can be reckless with ours!! A fund raise at 37 pence!!

Agree Nanonano - so much for them improving their communication!

…… any orders yet ?? Exciting inflection point!!

Did somebody say “exciting inflection point”?

Is there any real evidence of Nanoco supplying anything (or having been asked to supply anything) for Apple Vision Pro?

Thanks Oilman - how does one join the Kistos telegram group please?

Tariq Hamoodi, who owns 4.23 per cent of Nanoco, had accused it of overstating the amount it might receive from a legal claim against Samsung

Tariq Hamoodi, who owns 4.23 per cent of Nanoco, had accused it of overstating the amount it might receive from a legal claim against Samsung

ODD ANDERSEN/AFP/GETTY

Emily Gosden

Tuesday August 15 2023, 12.01am BST, The Times

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Rebel shareholders in Nanoco have failed in an attempt to remove the board of the technology group.

More than 80 per cent of investors backed Nanoco directors at an extraordinary general meeting yesterday, rejecting resolutions brought against the company by Tariq Hamoodi.

Hamoodi, 46, who owns 4.23 per cent of the firm, had accused it of overstating the amount it might receive from a legal claim against Samsung, the South Korean technology conglomerate, ahead of its announcement in February of a $150 million settlement, which led to a fall in share prices. The investor also criticised a financing deal Nanoco had carried out with some minority shareholders. The company dismissed the allegations as “unfounded”.

Hamoodi’s efforts to unseat the board and install his own nominees failed to win the backing of influential shareholder advisory groups and were rejected by other investors.

Nanoco was founded in 2021 and is based in Runcorn, Cheshire. It is focused on developing quantum dots, which are used to improve the backlighting of LED displays. It had sued Samsung, alleging the Korean group had copied its technology after it shared samples to discuss potential collaboration.

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Christopher Richards, 67, the chairman, thanked shareholders for their “overwhelming support”. He said the company would improve its communications and would add people with experience in the electronics sector to its board.

Hamoodi declined to comment.

Shares in Nanoco rose by 1½p, or 7.8 per cent, to 19½p.

From the FT:

European natural gas prices surged almost 40 per cent on Wednesday as the potential for disrupted global liquefied natural gas supply from Australia spooked traders betting on further price declines.

Prices on the Title Transfer Facility, the European benchmark, rose to more than €43 per megawatt hour, up from almost €30 on Tuesday, reaching its highest point since mid-June.

The increase was triggered by reports that workers at important LNG plants in Australia were planning strike action in a fight for higher pay and better job security, with market movements exacerbated by some traders closing out bets that gas prices would fall.

The move highlights that despite gas storage levels rising close to capacity in the EU, the energy crisis that has roiled the continent for almost two years is not yet over, and markets are still nervous about the vulnerability of supplies.

While Australian LNG supplies rarely flow directly to Europe, the EU has become increasingly reliant on global seaborne cargoes of LNG to replace Russian supplies cut since the war in Ukraine.

Analysts said the markets remained wary of any potential supply disruptions, even though prices are substantially lower than the peaks of last summer when the slashing of Russian pipeline supplies propelled gas to record highs above €340/MWh

Yup - very well educated. It helps that it was a polyglot and polymath in the first place.

Trouble - I’ve got a spare one I can lend you !!

Qdnano - That really is pathetic - Hollywood screenwriters are on strike - why don’t you do a bit of moonlighting there?

“Dear Shareholders, Jam tomorrow!”

This Board need to back themselves by buying (with their own money) a significant number of shares in the company

“Exciting inflection point” - and then I woke up!

Now if they could just manage a few more about validation of materials, new orders and significant purchases of Nanoco shares by directors that might help!

Pleased to see that communications have improved in the last few weeks. Pity they didn’t communicate their low case damages model so well (and properly guide investors). I guess they must be feeling a bit rattled!