Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Interestingly so many have wound in their expectations leaving the bb as grounded as I can recall before what was regarded as a possible pivotal Q filing not so long ago.
Not a bad thing IMO. I just hope Art after so many false dawns hasn't brow beaten everyone into submission.
Ironic as I regard our current situation with great optimism having more foundation with nailed on fundamentals moving forward than any time I can recall.
Good luck all...exciting times.
Thanks Tandmeister. I'm not an oil man but my gut tells me this could well be a poisoned chalice to be avoided at all costs unless Art can swing the deal of the century re debt and is confident he can increase the minimal bod to be a bonus as opposed to a burden to our existing position.
While they may well be there for the taking I hope he does not let an acquisition for the sake of it go to his head but takes some serious advice and acts accordingly with eyes wide open. Let's hope better opportunities await.
HI
I too went to see the doc after experiencing an unsettling bout of inner calm with a growing sense of anticipation of good things ahead rather than the usual inner turmoil.
He was a new guy so asked me to explain my circumstances in as much detail as possible while he scribbled away.
After a while he seemed to have a eureka moment and started muttering bipolar, bipolar so I intervened saying that had been covered by the other doc. No I said buy COPL-A, buy COPL-A not bipolar you lucky bugger he spat out before taking his leave seemingly phoning his broker on the way!
On another note I do hope Art near term expansionism plans are CNOOK/Cuda or at least local as opposed to another foray into Africa so Art can stay focused on the many opportunities to grow sp near at hand. There are exceptions of course!!!
And surely to god our invisible partner Kola /Shoreline can now reveal the situation re marginals which I regard as a good pointer to success or not at 226
Lets enjoy the ride one and all!!!
Good Morning
Precisely Bob. The ACG [Arthur credibility gap] has held sp back for many years and while many of us LTH looked at the bigger picture and took full advantage of that we along with newbies may not see our hoped for gains if he doesn't realise and remedy the significant effect his behaviour has on sp especially now as we hope to reinvent ourselves as a serious mid tier co.
HFB well crafted estimates of future sp I pretty well agree with apart from this one factor. Art needs to accept that as it stands we may represent one of the better opportunities certainly in O&G we are not the only play out there for the more risk averse.
Imagine a new potential investor whether retail or institutional after seeing the so far unexplained/unnecessary place which at best may be simply mistimed should Art not use the funds before the hoped for relist increase followed by the current lack of company comms to calm market jitters ! Add to that this will only increase the likelihood of profit taking should the opportunity arise while the sp may not be a damp squid as has happened before it may certainly disappoint some if Art doesn't get his finger out.
While I'm here. Marginals; not that big on my agenda per se but I would be extremely disappointed in our Mr Fixit, Bu on his speed dial etc Kola if he couldn't land at least one licence which is what I thought Art raise may be intended to cover presuming we are still inc in Shoreline's plans.
More pertinently as a follow on to that disappointment is the fear that OPL is now less likely to happen either. BTW has everyone noticed the 'We are only one signature away being held up by required face to face covid excuse' has now been swept under the carpet like so many previous excuses with the handy PIB restructure or not smokescreen.
As an aside I have previously mentioned Vis Astor being in the radar of the red tops due to his Cameron connection but that has multiplied somewhat with the more recent Cameron lobbying scandal with CFG and collapse of Greensil with him being friends of the founder Lex Greenhil.
But guys and gals --welcome Mom btw and Island girl who I recall from the 88 bb-- I'm still pretty optimistic so all of the above could prove superfluous should something land, whether calming or exciting shortly. In fact I'm just going out for a couple of hours and still hope to return to news from Art.
Have a great weekend all
Presume they took a break to play snowballs, build some snowpeople and get some sledging in.
I'm still hoping that taking it to the wire means there is some extra meat on the bone as opposed to his original plan.
Totally de-risked so take what comes for now anyway...Happy Days
GLA
Well said Stebol.
You missed the particularly irritating-- It's a Tree shake.
May as well throw in-- MM's know what's coming and They'll have to let this go sometime.
IMO it is the ACG -Art credibility gap behind much of the current malaise but I think Monday we may see some FOMO creep in [if the MM's allow it] then Tuesday onward it is hold your breath for the RNS time.
With the usual reservations I'm happily holding and looking forward to the next few weeks.
Have a great weekend all.
Good Morning
First and most pertinently. Not mentioned yesterday, I believe Art said to expect transformational news flow January which we mostly took as plural and I don't think he was referring to the TR-1's. So I reckon the little monkey has something else up his sleeve and now has adequate time to bring it to the table before finalizing Atomic. Looking at his options I'm pretty optimistic that may help with dilution if played well.
I hope that doesn't make me a conspiracy theorist. Thanks for your efforts there Charlie. I have received much ruder arrogant emails from Art but this one did have some underlying confidence borne by recent events to back him up.
My guess the underwhelming sp bounce yesterday was down to Art credibility gap coming into play once the dreaded words 'non binding' and 'delayed' were spotted by investors who don't understand the sequence of reportable news required to get from S to F. I did notice Ryan Gaffney mention 'binding' term sheets in the previous RNS but I took that as more lax by him and our proofreaders as opposed to a reason for concern. I think by definition a term sheet is normally non binding as just another step in the process while legalities are being finalized. Not every RNS leads to instant gratification but this one did it for me.
Not that I'm prone to come out with inflated sp quotes I predict after yesterday's late interview[s] and mystery after hours
buys today will be more pleasing.
Anyway I'm a happy bunny and looking forward to my weekend and wish you all likewise.
GLA
Somebody pinch me...after all these years it's finally happening guys!
Precisely what was required, everything falling into place.
Perfect timing where for once the small delay is most welcome
In Art we trust [insert lightening bolts here]
Good Morning
Putting Caw Caw great find aside until we know what it is and any likely effect on us/sp. BTW the phone number given was Calgary; we know he lives in London.....
In a recent post I mentioned Art had rolled the dice on us receiving the PSC/license extension this month to alleviate the pain of approaching place so it was actually more critical than before. As we've not heard otherwise from the horse's mouth I'm still holding out some small [minute] hope there. Whatever the cause as I don't believe the Covid face to face nonsense.
Marginals: As far as I am aware we have not applied for a license, Shoreline have, purportedly on our behalf with a view to a so far undetermined partnership. Not sure how the markets would react. I'm no longer jumping for joy at the thought of prolonging our relationship with Kola after feeling let down by him from day one and that's assuming we would still be offered something after going it alone with Atomic.
MBQ: when this was first announced several years ago, in gentler times, it was discussed on here it being merely a fallback if OPL failed similar to OPL after Liberia duster. Art has always been cool on it mentioning inclement weather, civil unrest etc. Not holding my breath. Also in partnership with Shoreline 50/50...hmm.
Mystery WA possible is more interesting to me with the caveat on how we fund it. If Art has got to the stage of noticing Atomic engineers would be ideally placed to attend to a similar technical problem then he must be fairly serious...but unlikely before Atomic conclusion so IMO not this month.
That leaves us with Atomic as the main contender for good news. Which IMO is quite simply: confirm we have finance sorted without any immediate dilution and/or we are on course to attain 100% then we should get an sp spike but the longer he leaves it the less it will be with the market knowing there is a place due on Jan 31st or completion which actually in this instance may be less painful if delayed until February.
All the above IMO and I have no idea how it will end up. I just pray Art has a plan!!! GLA all.
Thanks TicoR/Andy I'm actually pretty well in alignment with you...don't ever confuse my concerns with my wishes.
It was actually the legalities re place/mc level etc I was hoping someone could advise on. This did raise it's head some time ago on here but I can't remember the outcome and have so far failed in my attempt to research it.
Good Morning.
Glad to see the board has become a little more grounded with Art's intentions being questioned in more depth.
I reluctantly gave him a pass when only OPL on the table and am hoping re the last two horrors it was down to a rushed timeline to get the job done but should the next round of funding go the same way after he has mentioned we had had got the stage of time sheets with one or more lenders that would be the final straw for me. So current excitement is curtailed. A truly pivotal moment approaching for us pi's and the company IMO.
Now,I have a vague memory that there was actually a limit on annual placement level against mc [say 20/30%] whereupon any further place needed to be passed at an agm or egm. As we've not been informed of such can anyone advise on this please.
Previously pi's may have held sufficient stake to have a say in this but due to Art giving away shares to his inner circle that is now less likely which to me smells of fraud. Again can anyone better informed please advise.
GLA as ever
Good Morning.
Exciting times indeed.
Re the long overdue rubber stamp licence extension PSC which was filed in June that Art has already hinted may be further delayed--sad face:super virus or something. I would think the latest poppy**** -face to face meet required cannot go ahead due to Covid is now negated somewhat by the vaccine. I would think that the privileged parties required to attend would have received the jab by now or have access to it. Then taken we are told they are all working amicably with no issues and a clear goal all we need is Buhari to give Essar a pass on quarantine along with the use of private jets etc this should be slam dunk...until another excuse raises its head anyway.
GLA
I believe Ryan Gaffney is well connected and experienced at arranging finance as is required now so I am quietly confident we will receive news re this, hopefully tomorrow, which the market will like.
Still keeping fingers crossed