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I read that Angus have the rights to gas storage in the partially depleted gas field Saltfleetby itself. This is definitely significant in the current climate, I think many are missing this detail and focusing on the early flow rates.
Very tempted to dip the toe into this one but I suspect the seller is still lurking. Lots of buying over the last few days but then a few large dumps seem to cancel them out. That said, the sp is holding at this level and is probably a good time to load up ahead of the expected newsflow
Being relatively new to this company I didn’t and these have caught me by surprise. Yes it’s not a huge amount but when people talk about 100m still to be exercised where is that information coming from? Is it wrong?
Here they come, those late reported buys that dwarf anything reported during the day.
All the short term profit takers handing their shares to the big guys. Fair enough, a few quid is a few quid but the real big gains are yet to happen.
I hear Saltfleetby has an expected lifetime of around 15 years. This is great news but we could really do with higher rates over a shorter lifetime given we use gas to generate half of our electricity.
We face the real risk that Norway might have to stop or restrict gas exports to us (due to issues with their own hydroelectric generation) and given the fact that the U.K. already faces a real risk of power outages this winter (especially if it’s a cold and calm one) there must be high level discussions about securing our gas supply for the immediate future.
Someone like Shell would be able to invest heavily and quickly to accelerate production from this field. Combined with the potential storage option at Rough this could solve a lot of U.K.’s domestic gas problems quite quickly.
Didn’t the recent windfall tax offer an incentive of 91% tax rebate for North Sea producers on any investment in new extraction? Hmm, there’s a win win for Shell or whoever fancies it.
London, July 14
15 July 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (596/2014/EU) ("MAR").
Conroy Gold and Natural Resources plc(“Conroy Gold” or “the Company”)
Issue of Convertible Loan Note to raise €250,000
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development Company focused on Ireland and Finland, is pleased to announce that it has raised €250,000 through the issue of an unsecured convertible loan note (“Convertible Loan Note”) to Hard Metal Machine Tools Limited (the “Lender”). The Lender is a company 99% owned by Mr Philip Hannigan, an existing shareholder of the Company with a beneficial interest in 1,961,577 ordinary shares of €0.001 representing 8.28 per cent. of the current issued share capital of the Company.
The net proceeds of the Convertible Loan Note will be used for general working capital purposes and exploration programme costs.
Terms of the Convertible Loan Note
The Company has entered into an unsecured convertible loan note agreement for a total amount of €250,000 with the Lender which have been created pursuant to a loan note instrument. The Convertible Loan Note has a term of three years and attracts interest at a rate of 5% per annum which is payable on the redemption or conversion of the Convertible Loan Note. The Convertible Loan Note is unsecured.
The Convertible Loan Note, including the total amount of accrued but unpaid interest, is convertible at the conversion price of £0.07. The Lender has the right to seek conversion at any time during the term of the Convertible Loan Note.
Unless the Lender has given prior notice to convert, the Convertible Loan Note will be repaid immediately prior to the completion of an offer or agreement pursuant to which any person or those acting in concert acquires over 50% of the issued share capital of Conroy.
The Lender shall be entitled, on serving written notice on the Company, to require the Company to redeem all or any part of the Convertible Loan Note at par on or after the three-year term of the Convertible Loan Note.
A total of € 250,000 has been immediately drawn down by the Company under the Convertible Loan Note facility.
The Lender’s conversion rights are limited to the extent that the Company has adequate shareholder authority to convert.
No application has been or will be made to any stock exchange for the listing of, or for permission to deal in, all or any of the Convertible Loan Note.
Wow, you derampers jumped all over this within minutes. Have to ask myself why would two very anti KDR people be watching this so closely!?
As for the apparent lack of drilling activity, have you not heard of Geopool? Recommend you look them up and what they’re doing and where in Finland.
“A maiden 3,000-metre drilling programme under the new JV is set to commence later this month, which we believe could lead to results being announced in May/June. This is just the initial stage of what is projected to be an extensive exploration and development JV programme funded by Demir.“
A little very basic research can be revealing if you’re at all interested in this company rather than focusing on any possible negative thought.
Like I said before, if Russia decide to attack Finland or any other NATO country it’s game over for planet Earth so nothing will matter. Joining NATO is a very prudent thing to do when you’ve a ******** next door waving his weapon about
The project follows on from two successful drill holes completed in the area last year, which resulted in over 1m ounces of resources being excavated.
Wait, what?
https://www.irishexaminer.com/business/companies/arid-40865225.html