Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It's been covered by bloomberg. It's too big and valuable to fail especially given the regions they operate in and the recent contracts they have secured. A order backlog of $6 billion is no joke.
They're a massive player in oil and gas but ALSO renewables and this is where the money will be made in the next 30 years.
The London-based company, which has been struggling with loss-making legacy
contracts, is in talks with parties to take a non-controlling stake in a portion of
its business portfolio, Petrofac said in a statement Monday.
Petrofac and its advisers have held talks with a US special situations fund
about a possible deal, according to a person familiar with the matter, who
asked not to be identified because the details are private. The completion of a
deal might need bondholders' consent for a waiver on certain contract clauses,
said the person.
Yanks love a good bargain, and at today's share price it certainly is. A cash injection for a small stake in the company will not only see it bounce back, but will also likely help gain new contracts in the US and other regions too.
Looking decent today. Moved off the lows and now should retrace back. Can't be much selling left especially with volume that's going through. Should skip up once sellers out.... see 50p as a minimum and potentially back to 80p as a fair point.
Some big trades going through. The ones in the know and in the O&G industry know what Fridays RNS meant. Bigger pay zone, better porosity and higher in geology than anticipated is everything O&G companies want to hear/discover.
It's a proven oil province with fields in existence all around. The segment drilled is untested and virgin meaning we should expect some strong flow rates. A bit like Angus Energy at Saltfleetby when they drilled into the pocket and recorded higher than anticipated flow rates.
Next, clean up and well testing. Followed by hook up to EXSISTING production facilities on site.
Good flow rates should see this sit at £30m considering it unlocks the rest of the development plan and drill over the next 6 to 18 months.
$6m cash burn per month.
$93m in June.
committed remaining expenditures $20m - $25m
$93m - $25m = $68m
$68m = 11 months worth of cash burn.
remember, they currently have 0 debt. I'm certain they'll secure a RBL facility on that vast amount of oil in the ground relatively easily. Balance sheet is pretty solid, that's just not the concern at the moment.
It's getting the oil flowing again.
The HK Energy report was released yesterday. GKP released an RNS today. Nothing has changed. Still same info that we have known for weeks.
In fact, HK Energy sound like they're in trouble looking at the balance sheet. GKP are pretty rock solid from that viewpoint with no debt, plenty of cash and massive receivables. Enough cash in the bank to see us through another year for sure as Capex has bene slashed. This is a sitting duck at the moment....
As per RNS today. They are going ahead and holding the investor presentation on 31st August 2023 and will discuss the FY results. Clearly there has been nothing new or material otherwise it would have been reported today within the RNS. I think a large seller caused the initial drop, paired with panic selling.
We know the pipeline is closed and they're working to sell oil via alternative routes. We also know the Turkish FM is visiting Iraq this month. The pipeline will open eventually in a few weeks as it's in the interest of both sides.
The lower this price goes, I can see an offer coming in for the company. ZERO DEBT, 817m/bbl of reserves and enough cash to run till end of 2024. The company is financially sound and in very healthy shape considering the situation. No raises required.... just a little bit of time.
They have some decent partnerships in the automotive industry and are doing a lot of work with several companies. The tech and abiity to produce ar scale is what stands out, and given that's where the future is heading I'd be surprised if they were allowed to fail months before commercialisation. They are not a 'in theory' business. They have actually produced goods and have sent some to potential buyers for testing etc. Yes it's a money hungry game but in reality they just need one or two of them buyers to commit to firm orders and they're in business. As one of the UKs only battery cell producer, it would be a own goal if they we're allowed to fail and go elsewhere.
The convertible loan provider can only convert upto 29% worth of the company market cap which is currently £4.5m. So they would not even get thier full £4m back. I think there will be a supportive stance and solution to get them through.
SpArmada
Would they not need to RNS TD?. Or will it just be a operational update including TD info and that it's been cased, perfed and tested?.
Also, how many vessels are you seeing in the last 24 hours?
And what's the importance of the Standby Safety Vessel that was there over the weekend?
Thank you
Not sure what to make of todays RNS. I was expecting the delist circular but we got a new broker instead. Could mean many things. Will have to wait and see how this plays out.
Strong finish. Likely a gap up on the open if demand stays constant. Might tackle 100p tomorrow with a bit of luck. Still way off from the drop at 400p!
"The Company, therefore, intends to make arrangements for a matched bargain facility to be established post Cancellation in order to assist Shareholders wishing trade in the Ordinary Shares post Cancellation, assuming the Cancellation Resolution is passed" from Fridays RNS
To be honest. This is going for a strong finish. The low float makes me think it will gap up on the open tomorrow.
Yes it's a 100% rise, BUT, it's still 80% down from last week. It's not down because the business is a dud, it's quite the opposite actually. The business is booming and recording significant growth and profits. So many wont mind holding it private.
Agreed. Got to have 100p all over it. That's still at a significant discount.
Venture capitalist will be all over this soon, if not already. You don't get these discount prices on a well run business often.
Hi All,
Good to see some messages being shared across the BB. ATF grant announcements have been slightly delayed on the back of some strategic thinking and recommendations to the Govt. Given the recent failure and then subsequent takeover of British Volt, and many other international factors (competition), the grant funding will be announced slightly later than originally anticipated. It's looking more promising than ever for TVL (ALK) as several research reports support the business case not only for the company but for the UK too. To ensure the UK is best positioned to lead the way in Europe, I think TVL will secure a decent sized grant from the fund and once confirmed, days later the overall financing package will be announced with the balance funded.
Funding for the project will not be a problem as there are several venture capitalist and investors ready to back the company. To ensure we get the best deal, the grant will come first and the funding thereafter so we attract the best terms possible and also ensure we only have what we need.
Announcements are expected to start coming out towards the end of March and in to early April. Everything is lined up and the last bit of the jigsaw for the funding is the ATF grant as this will dictate how much is required from lenders.
Looking forward to a transformational 4 weeks.
It should go on a good run to high teens or even early 20's given the fundamentals. yes the drilling campaign wasn't brilliant hence the drastic decline to mid 20's BUT at the current price it's an absolute steal. We all know BR pushed it down to exit. Company has £9m cash, £65 debt facility, asset sale this month, gas condensate discovery, big drill in H2, new multi-tcf asset in Malaysia and it's only worth £6m???!!! ITS CHEAP and there's no two ways about it.
remember, the Norwegian government and repaying the company tax rebates for the drills last year, this pays off all the debt and leaves us clean with a £65m facility!
I've seen stocks double and triple with a fraction of this. BUY, HOLD & ENJOY in a couple of weeks time.