Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
HtTps://fnarena.com/index.php/2024/02/20/uranium-week-follow-the-leader-2/
Since financial entities moved in and made spot uranium a speculative plaything as much as an end-use consumable, the uranium market has become as much beholden to macroeconomic impacts on financial markets in general as it is to physical supply/demand. So it was last week when a “hot” US inflation print sent Wall Street tumbling.
Industry consultant TradeTech reports the stocks in its uranium “StockWatch” basket fell an average -4.5% for the week.
Which has little to do with the current global supply/demand imbalance and uncertainty within the uranium market. It did serve to force sellers into quickly lowering their offer prices.
There was not much response from buyers. Activity in the uranium spot market was down significantly last week, TradeTech reports. TradeTech’s weekly spot price indicator fell -US$1.00 to US$102.00/lb, continuing to exhibit volatility around the magic 100 level (magic simply because it is a round number).
We can only go on the last trading update, released on 31st Jan for period ending 31st December...
The Akatara development project is c.93% complete, with first gas and final acceptance of the Akatara Gas Processing Facility remaining on schedule for the second quarter of 2024.
Dated 20th Feb 2024
htTps://www.investing.com/news/commodities-news/goldman-hedge-funds-step-up-activity-in-physical-uranium-as-prices-spike-3307759
Investment banks Goldman Sachs and Macquarie as well as some hedge funds are positioning themselves to reap the benefits of a newly buoyant uranium sector as prices of the nuclear fuel ingredient spike.
and
With the headlines and positive momentum in nuclear more generally, hedge funds and other commodity investors are back in the (uranium) sector.
and
Goldman Sachs has started writing options on physical uranium for hedge funds, the first time it has created a derivative for the metal.
and
Goldman is largely dealing with financial clients like hedge funds while Macquarie's main focus is boosting trading and marketing output from miners, another source who dealt with both banks said, also declining to elaborate because the data is confidential
Yep - just about sums up most of the politicians here - rather than do what is needed and right, they only do what is required to ensure that they remain in office and have the best chance of re-election.
HtTps://drillordrop.com/2024/02/15/misson-shale-gas-well-decommissioned/
A shale gas well in Nottinghamshire that has been mothballed for more than four years has been decommissioned, officials have confirmed.
The site operator, IGas (now known as Star Energy), drilled the exploration well in January 2019 and described the shale gas find as a “very material world-class resource”
Tyrus will have been fully aware of these plans
Gunter Waldner
Non-Executive Director
Gunter was nominated to Jadestone’s Board as a non-executive director by the Company’s largest shareholder, Tyrus Capital S.A.M. and funds managed by it (“Tyrus”), pursuant to the relationship agreement entered into by Jadestone and Tyrus in November 2018. An Austrian national, Gunter has over 25 years of corporate finance and investment management experience and is currently Head of Private Equity and Co-Chief Investment Officer of Tyrus Capital S.A.M. having joined the firm in 2012
and
Cedric Fontenit
Independent Non-Executive Director
Board Committee memberships:
Governance and Nomination Committee
Remuneration Committee
Cedric has extensive experience in advising on M&A, financing and structuring investments gained from his 20-year career in investment banking and hedge fund industries. Cedric is currently co-founder and managing partner of Amavia Capital, a private investment firm and the President of Tall Mount SAS. He was previously a senior member of the investment team at Tyrus Capital S.A.M. where he had significant investment experience in the oil and gas and mining industries, among others.
Sandgrove are still selling - at one point they had exposure to 16 million shares in August last year in a combination of shares and financial products - now they are down to 6.1m of exposure, with about 2.33% of shares still directly held as of 5th Jan.
they have stated that they do not wish to be part of the geothermal future of the company and have been selling ever since.
once they are gone, a lot of pressure comes off
Back in august last year..
https://www.afr.com/companies/energy/woodside-puts-macedon-pyrenees-fields-up-for-sale-20230824-p5dz9l
The flyer from Morgan Stanley puts cash flows from the portfolio, comprising the Macedon domestic gas venture and the Pyrenees oil project, at an average of $US150 million ($232.2 million) a year over the five years from 2023 to 2027.
Taken from another board...
If the deal is structured as a reverse takeover akin to HBR / Wintershell than JSE shares in all likelihood should be "fairly valued" based on "intrinsic/replacement/market value".
HBR shares were valued at 360p for reverse takeover purposes for their recent deal when trading close to 200p - a near 80% premium!!!
Https://drillordrop.com/2024/02/02/uk-onshore-oil-and-gas-production-in-charts-november-2023/
star energy produced 17% of the UK total onshore oil production in November 2023. secondly only to perenco.
star energy produced 14.85% of the uk total onshore gas production in November 2023. third behind perenco and just behind velox power.
Https://www.voxmarkets.co.uk/articles/canaccord-genuity-lowers-target-price-on-star-energy-fbdcc5a/
Over the past year, Canaccord said Star has turned around "a declining UK production profile" for the first time in many years, through a combination of greater focus on incremental low-cost enhancements to well performance and significantly improved surface facilities efficiencies and uptime.
"That has clearly borne fruit over the past 12+ months, and we think there is plenty of scope to maintain that elevated performance at least over the next few years. That is important because while the company sees longer-term growth through its geothermal businesses, it is the UK conventional hydrocarbons that provide the backbone of cashflow in the nearer-term," said Canaccord.
The Canadian bank thinks the progress made by Star in the UK and in Croatia was "substantial", and certainly not reflected in its recent market performance.