Member Info for sasa43

For news on the BKR outcome, the Erskine 'by -pass' pipeline completion and the Rowallan 'spud' due in Q3 to mention the next major items coming up. If the BP deal is to proceed, one can expect a sharp rally from here; if not, the disappointment / SP reaction will depend on the alternatives TCW has planned.

The others are obviously positives to underpin sentiment and, especially so, if Rowallan delivers something commercial and then there's further updates on Columbus to bear in mind; looks encouraging overall to me - sasa.

Yep, agreed, chinch - hopeful signs... The main three events should be quite close now - sasa.

right now (higher US interest rates outlook mainly) but this looks to be largely discounted, imv and good value resides amongst the quality miners like this one, FRES, etc., so patience is req'd, that's all... Just my take, fwiw - sasa.

Yep, me too, egg - steadily building my position here (picked up more this morning) but showing amongst the 'sells' - wonder why they bother to collate such 'guesswork' as data - if the mm's were instructed to add a 'b' or 's' suffix as an identifier like 'UT' and other annotations, that would then be helpful in the transparency aspect the regs aim for...

Anyway, the potential here looks good to me with impressive management at the helm; just my take, anyway - sasa.

Echo that, Manuel - know what you mean.

If only the other one had SQZ's ready cash to get going! - sasa.

Interesting observation there, Mommur - the uptick in the sp today might also presage confirmation of the Erskine 'by - pass' pipeline being in operation at last to renew our income stream and / or the authorisation to proceed with the BKR assets deal being received and then there's the Rowallan 'spud' coming up soon...

Any such positive news surrounding these events should propel this higher once again, given the shs are already well below their earlier 'high' this year, so much to hope for / look forward to - sasa.

Good spot and good point, Rovers - sasa.

Wouldn't disagree with that, Mommur, given BP already held the licence to go ahead with developing Rhum but that wasn't readily transferrable to Serica and that was pre the latest tightening of sanctions, of course. However, a BP director did step down from Rhum's management contingently to facilitate SQZ's application for it with BP wishing to distance itself from the controversial well (given its huge US operations) which is 50% owned by the IOC, as we know, albeit with their income share still 'frozen' to date, as I understand it. Hopefully, the UK Govt. will be lobbying hard to support Serica's application for it (representing 5% odd of our gas supplies) and thus enable the OGA to acknowledge SQZ as an acceptable operator of it, if successful, as originally planned. The decision can't be that far away now...sasa.

Obviously the licence to operate the Rhum element of the BKR assets purchased from BP is uppermost - that's contingent upon SQZ being granted access to the best maintenance equipment (usually US) when necessary, enabling the UK to endorse Serica as being 'fit and proper' to operate the former BP jointly owned asset. That's currently in the balance right now but the 33% retreat in the sp over the past few months seems to adequately discount a negative outcome, seemingly, with the shs being statistically cheap, anyway. On the plus side, we have the Erskine clearance (pipeline by-pass) to be confirmed very soon and the Rowallan spud coming up shortly and if this proves successful, a decent price recovery should be seen. Moreover, if that coincided with a 'clearance' to proceed with operating Rhum, then a pronounced advance to 100p or more should rapidly ensue. A good binary bet right now is my guess, fwiw but DYOR, as usual - sasa.

Hi Noloss - I get the RNS's almost immediately through Money.am, along with L2 / watchlist / research / lots of other stuff etc., and find them good and reliable. The service costs me £20 pm + VAT if that helps....sasa.

Hi Manuel - no probs - good luck - sasa.

Hi Manuel - nice to see you on here with a few others (gwm, Isphahan, etc.,) I suspect that, like me, there will be quite a few ex iii posters coming over here now after they've clearly shot themselves in the foot! As to your question, I don't know anything about LSE's balance sheet strength, tbh, where safeguarding clients' cash and securities are concerned. Why not ask them about their 'modus operandi' and that $64k question? I would. When I set up my old firm, along with a like - minded colleague, in the late 80's, we used designated nominee hldgs and separate clients' cash assets held away from the firm's normal business activities, so that, in the event of our default, the clients' assets were already separately identified and protected to avoid the sort of Beaufort scandal we've all witnessed recently. Nowadays, just about every firm lumps everything in together to save time and expense - it's called 'co-mingling' which is fine if they're solvent but not if they come to grief. A key feature to look for is a firm with a high fee income base from, say, ISA / SIPP / Funds management services etc., quite apart from just operating a trading / dealing platform; this provides a reliable income underpinning of the business. The larger the better, I'd say. I recently introduced a good friend of mine to Hargreaves Lansdowne which comfortably meets such criteria, if that helps at all. If I wasn't still using my old firm, I'd likely move to them - just a personal view, of course - sasa.

Looks like we're rapidly migrating over here now since there's nothing left next door to speak of! - clearly those who, unwittingly, destroyed a very 'user friendly' BB hitherto, now have to pick up the pieces and press the 'default configuration' button if it's to survive. It'll cost a lot of money as loss of reputation take a long time to recover - good news for LSE, though...sasa.

You can say that again, Slick - the ii site is effectively out of action now unless the stupidity is reversed; I suspect most of the posters / users on there hitherto (like me) will be coming over here henceforth, so at least LSE will benefit from their self - inflicted 'horlicks' - sasa.

Not much, you moaners say - 'milking the Co., for his own benefit' - that's insulting to the man who first identified this massive discovery when a major disregarded it a long time ago and has spent much of his time since, proving it up in what must be one of the most inhospitable places on earth. Not for nothing a geologist 'cum laude'... He got us through the financial crash intact (whereas many perished by the way side back then) and had to arrange very dilutive funding deals to survive, when normal funding routes were largely closed off in the aftermath, to get to where we are now, i.e with a 100% ownership of and a mining licence to exploit the massive discovery that KM represents today. What's the 'in ground' value we have now? $24bln odd is it? I'm losing count as it's still growing, along with the blossoming Ni / Cobalt prices applicable ... He'd be the first to admit, I'm sure, that financing isn't his strong suit but there's no denying the determination to get this value unlocked for all our sakes, via a J/V or substantial funding or securing a decent offer for AMC and when that happens, the detractors on here will be nowhere to be found... Suggest you sell up, move on elsewhere and spare us the gripes! - sasa.

Are the existing shareholders being 'legged over' here? The 'concert party' which seeks a waiver from being obliged to make a full offer for the Co, under the rules which currently apply, (their combined ownership of the equity goes from 37% to 44%) contingent on this going through, gets perilously close to effective control. Seems a dangerous precedent to me - another 7% of the float acquired and they will have it. If that's their ultimate intention, then they should not be exempted from complying with the rules and make an offer for the entire equity in the interests of all shareholders - sasa.

TCW suggested (at the time of the BKR announcement) there was a risk that any US maintenance equipment that might be required for Rhum3 could be withheld as a result of the sanctions but it's not been tested yet. A US Director also resigned (at the instigation of BP?) immediately to lessen the risk here and to facilitate the BKR deal going ahead. Ergo, with the IOC's 50% share of the income from it 'frozen' under the current level of sanctions, Iran gets nothing from it for the duration - sasa.

And the Rowallen 'spud' is due around that time, too, Jack - sasa.

This has been well aired before now, as you say, Maverick. SQZ is a British Co. which now happens to be acquiring the Rhum3 field amongst the trio, where the revenue applicable to the 50% portion owned by Iran is already held in escrow to comply with US sanctions. The American on the BoD immediately resigned to facilitate the deal with Serica, the idea being to enable SQZ to have access to, without difficulty, any top class US maintenance / repair equipment later on, should the need arise. TCW made reference to this when the BKR deal was announced - he doesn't anticipate any problems on this score but it hasn't been tested yet but the 'ring fenced' Iranian cash apportionment remains in place to show compliance - that's the position currently, as I understand it - sasa.

The explanation is simple - going 'Ex' today means 'without' dividend for any trades, buy or sell, undertaken in this condition - sasa.