Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I'd say we're nearly there. The Ministry approved the INA deal and no reason why they won't approve the Sonagol and Azule deals. WE , were the ones who weren't ready! London Stock Exchange required a new Admission document AND shareholder approval.
At least 40p even the way markets are
Apologies, Sonagol dropped from 20% to 14%
The INA (done) 4% plus Azule (12%) plus Sonagol (14%) would give Afentra 30% of a block producing 21,700 bopd, they say they are confident of approvals in Q4, there, apparently being no further impediments to closing, with Afentra's shareholders having consented to the new updated Admission Document on the 5th October.
Afentra Shareholders have been extremely patient. Deal first announced in April 2022....needed our own Shareholder approval first, so suspension to what Q3 2022 . The main Condition Precedent (CP) was the Block 3/05 extension from 2025 to 2040 which was not achieved until roughly April 2023. Once this was achieved, Afentra closed the INA deal (4%) in May but the bigger prize (the Sonagol 20%) remained elusive. Apparently government approvals were close in late June 23 but the Azule stake of 12% came up for sale. To make this palatable for Sonagol, Afentra agreed the 12% sale from Azule and lowered the Sonagol stake from 20% to 12%.
The INA (done) 4% plus Azule (12%) plus Sonagol (12%) would give Afentra 30% of a block producing 21,700 bopd, they say they are confident of approvals in Q4, there, apparently being no further impediments to closing, with Afentra's shareholders having consented to the new updated Admission Document on the 5th October.
Watch this space folks.....do your own research always
No way Mcb77. You forgot to qualify "how seriously undervalued Afentra is.......IF THEY GET CLOSING" because thats why Afentra is still at this price - THEY HAVENT CLOSED YET AND THEY AS OF YET OWN NONE OF THE BARRELS.
When closing comes then it SHOULD re-rate seriously. But there were those on twitter a month or two back , twitter handles from Spain who do podcasts on investing suggesting Afentra are going to get screwed by Sonagol this Winter.
So far unfortunately, they are right but i cannot wait to see them proved wrong. My fingers and toes are crossed but unfortunately it hasnt happened yet
Steady accumulation for us all. CASH FLOWS COMING. He didnt rule out dividends last time
If anyone wants to dump shares , to me , at 27.0 please go ahead :-)
Have you got a link Brattus?
Off book trades. Someone big buying and someone big selling
Angolans buying hopefully!!!!!!
https://www.londonstockexchange.com/stock/AET/afentra-plc/company-page
MMs tried a nice tree shake there
Https://www.maureletprom.fr/en/documents/download/1499/activity-for-the-first-nine-months-of-2023
Maurel et Prom working interest production in Angola in Q3 was 4,341 which when grossed up by their 20% stake gives 21,705 barrels per day.
This would be 6,512 barrels per day in Q3 for Afentra!
How long will the 28s last?
Two weeks tomorrow waiting on Government consents. Some movement on the 3/05A China Sonagol piece from Regulator last week. Lets' see. It seems the "File" is on the Minister's desk
In trading today look at the Bid Ask
Quite impressed actually that this has been dealt with so swiftly. Looked like it was going to linger for much longer
Ian this China SOnagol piece has been in both Admission documents, 2022 and 2023 recently. Its well catered for. No new docs needed
What it does indicate is approvals are happening to pave the way for the Azule and Sonagol closings
Check out twitter or linked in
27p didn't last long . Some itchy pundits on the sidelines jumping on before 30p
No read the London Stock Exchange one more legible. (the format of the LSE one is odd)
Gone from previous posiiton BELOW 3% to now ABOVE 3%
No duster they've gone from below 3% whatever it was nobody knows to 3.1%!
https://www.londonstockexchange.com/news-article/AET/tr-1-notification-of-major-holdings/16163066