Finally after 8mths share price consolation it looks set once 3.8/4p goes
Namibia, Chariot recently demonstrated its strong operational capability with the efficiently drilled Prospect S well, which came in on time and significantly below budget. Whilst the results of the well degraded some of the prospects, there remains significant prospectivity within the substantial Central Blocks licence which spans a total of 16,800km. Namibia remains a region of significant industry interest.
Partnering processes are ongoing across the portfolio and the Company will update the market on developments as appropriate.
Chariot continues to exercise capital discipline in all areas of the business, ending 2018 debt free and with US$19.8 million in cash. The Company maintains tight control over its cost base and remains fully funded for its current work commitments, which are less than US$1.0 million. Chariot continues to seek additional value accretive opportunities, to broaden the risk profile of the Company.
owner of world-leading technologies for water and wastewater treatment and for water quality monitoring, is pleased to announce that it received a purchase order to supply a proprietary all-membrane brine concentration plant ("AMBC") to one of the world's leading producers of crop protection products, speciality chemicals and other industrial chemicals.
The end client is a substantial international chemicals company that operates in every continent with offices in over 20 countries and customers in 130+ countries. The sale follows successful trials of Modern Water's AMBC by the company at a site in India. The client has over 30 manufacturing sites in countries including the UK, India, France, Spain, Netherlands, Italy, Argentina, China and Vietnam and operates each site to strict international quality standards.
, Modern Water will devote its management time and effort to its restructured innovative Membrane Processes Division.
The Company confirms that negotiations for the sale of the assets of Modern Water Inc., the US-based Monitoring Division, are ongoing and further updates will be issued as soon as there are any material developments.
A successful sale of the Monitoring Division would result in a significant strengthening of the Group's balance sheet and provide a solid base on which to support a more focused and efficient Membrane Processes Division, in which there is an encouraging pipeline of international development projects.
The company have announced ( on 18th April and 24th May) two new important additions. Firstly Martin Blair who has extensive corporate knowledge and is, amongst other roles, a director at AIM-listed KAPE which specialises in cybersecurity. More importantly, he rejoins 2 of the current Starcom board (Avi Engel NED and Micheal Rosenberg Non - Executive chairman) who were previously all at AIM-listed Pilat Media Group which was eventually sold for $100mln in 2014. Secondly, Starcom has a fresh pair of eyes which I believe is important in growing a company as they announced a new consultant called David Avner who has:
"career ranging across a number of industries. He has a BA in mathematics, computer science and philosophy from Haifa University and MBA in the specialisation on competitive strategy and financial management from the Technion. From 1983 to 2000, he was employed by the Strauss Dairy group and became general manager of the dairies division responsible for revenues of $250m.
From 2000 to 2005, David was a chief operating officer and member of the executive management of AMDOCS, responsible for worldwide operations. From 2006 to 2010, he was CEO of Partner Communications Ltd, the cellular domestic leader in Israel under the Orange brand. From 2011 to 2017, David was a member of the board of Bank Leumi and member of its strategy committee and credit risk committee"
Both of these appointments show that the company is already prepared for the next stage of growth.