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Only heading one way on Monday morning, and it ain't up.
After hours RNS on a Friday for a placing at 3.3p, says a lot
Selan share price up 38% in the last month. Let's hope some of that rubs off on SYN next week.
Tell us something positive that ROQ have delivered, not promised to deliver, but actually delivered, say in the last 6 months.
No jam tomorrow stuff, what has been delivered.
Over to you.
JPP
I understand how supply and demand works, but thank you for your patronising explanation.
Back at you, I generally like the "agree to disagree" idea.. but you need to do more research into how shares work.
We can agree to disagree, but the following trades show my point
23-Apr-24 16:23:01 0.1149 1,500,000 Buy* 0.11 0.115 1,724 O
23-Apr-24 16:21:02 0.114 2,801,798 Buy* 0.105 0.115 3,194 O
23-Apr-24 16:20:02 0.1139 4,700,000 Buy* 0.105 0.115 5,353 O
Within 3 minutes of each other, the largest buy got the best price, the smallest buy the worst price.
Happy to disagree, each to their own.
Larger volume trades get a discount, so I wouldn't take a £1.17 buy at full ask as an indicator that full ask is being smashed.
When you get 5,000,000 share buys going through at full ask then start to get excited
On the 11th March 2024, just over a month ago Roland told us
"In order to minimise equity dilution for shareholders, the Company has obtained loan funding from existing investors of GBP400,000 on commercial terms and on an unsecured basis"
For easy maths, even spending a £100,000 a month that would last through until July. With all the work done to get us to the signing of the JV, I'm sure Roland has told Selan that SYN just need to be careful with the ££ until the GoI approval. Roland doesn't strike me as the man to throw cash around. He'll be doing what needs to be done to preserve the cash to make the £400k last as long as possible
Well another months salary paid out to ROQ employees.
It's been three weeks now since ROQ apparently, according to the Twitterarti, just went to gauge interest on fund raising and the shares dropped 40%.
We haven't been told they've raised any money or signed any deals so can only presume the money situation it the same - one moths salary and ongoing running costs.
The market hasn't forgotten ROQ needs money, there was no bounce back. Can't see a lot of buying in here until the placing happens.
Annual report year ending 2023
The Directors plan to raise further funds during 2024 (either through licencing deals and/or other financing arrangements) and have reasonable expectations that sufficient cash will be raised (either through licencing deals and/or other financing arrangements) to fund the planned operations of the Group for a period of at least 12 months from the date of approval of these financial statements. The funding requirement indicates that a material uncertainty exists which may cast significant doubt over the Group's and Company's ability to continue as a going concern, and therefore its ability to realise its assets and discharge its liabilities in the normal course of business.
Annual report year ending 2022
"The Directors plan to raise further funds during 2023 (either through licencing deals and/or equity placements) and have reasonable expectations that sufficient cash will be raised to fund the planned operations of the Group for a period of at least 12 months from the date of approval of these financial statements. The funding requirement indicates that a material uncertainty exists which may cast significant doubt over the Group’s and Company’s ability to continue as a going concern, and therefore its ability to realise its assets and discharge its liabilities in the normal course of business. "
Looks like a fairly standard thing that ROQ includes in it's annual accounts, so far with limited success on the licensing and fund raising side.
So Optiva Securities issues a brokers note, the same Optiva Securities that acts as a broker for Energy Pathway, so hardly independent.
£2m raised at the IPO, but gas production expected to start in LATE 2025. £2m ain't gonna last until late 2025 for both stages.
Stage 1 pre-field development will consume the £2m, stated in the Brokers note.
Stage 2 paid for via strategic industry or financial partner PLUS DEBT, so Optiva Securities, EPP's own brokers state in brokers note
Second equity funding of £21.5m during FY24 alone. Debt funding of £53m in the same year. Note, the debt taking 18 month to pay back FROM FIRST FLOW.
Between now and the end of 2025 this is surely going to be diluted to an inch of it's life with £53m debt funding and £21.5m second equity funding in FY24 alone. What about dilution in 2025 before the first gas flows at the earliest end of 2025??
24p near term price, lol, really folks?
Update
IPO'd at 4p, closed yesterday at 1.95p.
You got to chuckle, this is going to need £millions more before gas starts flowing in late 2025. Just wait for the next (1p??) placing, which IMHO, will be along before you know it. Noted the broker themselves are saying "Stage 1 pre-field development will consume the £2m." and "Second equity funding of £21.5m during FY24 alone."
Nice to see the buys arriving earlier each of the last few days. Plenty of time left to get us to a nice 5% rise today
Don't you mean 8.6m? I don't see a 12m at 08:37
Https://twitter.com/Synergiaenergy/status/1783389148264509521
...to 0.14p. Don't just take my word for it. Will be testing the 0.1405p resistance level soon I hope.
https://twitter.com/Share_Talk/status/1783156322281636198
Stuey,
You might get your 5% rise today
Has the afternoon crowd arrived again for the last hour?
That would be a first !!! Gordon is very quiet today.
After a few red trades the blue has started again, lets hope we see some interest this afternoon
Very quiet on here today in light of near 9% rise. Are people not wanting to jinx it at last moment!!!!
Looking for a push towards 0.1405p today. We need to break and hold.
Something kicked off at 3.35pm today, will be interesting tomorrow as there was still interest at the bell