Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Ownership Breakdown despite a new broker and the recent webcast we have not seen a significant increase in share buy/sell number's
Institutions 1.7% 16,133,696 shares
Private Companies 8.9% 85,143,102 shares
Individual Insiders 9.6% 92,145,383 shares
General Public 79.8% 766,339,919
If Simpley Wall St is to be believed we (General Public) remain major and significant holders. If that is the case I would have thought that just investors would be a bit more prolific on the LSE bb??? As this seems to be the only viable discussion platform.
Does any one have access to *Morning Star, the FT or another to confirm the current share distribution/ ownership?
Rgds Sft
The nvestment platform ii provides morning star as a research tool but at a level that is practically worthless nor able to detail investors other than the directors.
"MOSCOW, Dec 20 (Reuters) - A local unit of the Russian energy giant Gazprom (GAZP.MM) said on Tuesday that gas was being supplied to customers in full via parallel pipelines following a fatal explosion in a section of the Urengoi-Pomary-Uzhhorod pipeline...........The damaged section of the gas pipeline was promptly localised. Gas is being transported to consumers in full through parallel gas pipelines," Gazprom Transgaz Nizhny Novgorod said in a statement"
Hi BDC,
Nicely constructed, detailed and thought provoking post.
Thank you for pointing out some of the reasoning with regards Petra and AP.
I firmly belive AP does have some VERY transferable skills, experience and invaluable lessons learnt from the mining industry.....couple that with tough negotiation skills (mining).
I was (possible remain) concerned about share dilution, but as AP stated he is also invested and keen not further dilute, but the questions you pose regarding CHAR and its gas arm can to some extent be answered mostly in the positive, but as of course some remain as "to been seen"
It's remains intresting that NewMed are looking to speculate with Licences, surveys and exploration in Morocco now CHAR have achieved what they have.
Will it be of help for CHARS profile with regards negotiations??
"would this lead the market to re-evaluate his ability to do the same thing with Project Nour and the renewable electricity business? which are both currently valued at zero"
I think your above comment regarding industry and AP is a good one and at 49yrs old he may be asking the same. He has a lot to play for including out doing Mr P snr legacy.
Best rgds Sft
I think you can always tell a lot from posters who just jump in as a new poster with no intro, swinging the bat and very quickly resort to insults.....think we have seen a few of them in the past.
If you consider the position CHAR was in before the highly successful drilling campaign, the SP rise from 2.5/2.7p to now....wish I had that average....
An opinion/guess/speculation on why the sp has retrenched from the high of 23p has been put forward by myself....I "think" it has/had some valid grounds to it....but would as before would love to hear others opinions....and some have pointed out it MAYBE due to "trust".
I have also had some concerns about AP's past mining history on the financial side (Petra)....but he comes from a important and experienced family, he himself during his journey has gained (imo) very significant experience (including on overstretching the ambition vs financing) and HOPEFULLY to the benefit of CHAR?
Remember he has invested significantly into the company.
Again my opinion, there are a lot of plates spinning and to get it right may take a bit longer than the timelines that some, who maybe do not know or want to consider, can appreciate?
" Home News Diamonds
Petra’s founding chairman, Adonis Pouroulis, steps down from board after 23 years
By David McKay -Mar 31, 2020
ADONIS Pouroulis today stepped down from the board of Petra Diamonds, a company he founded and led for 23 years. He is succeeded by industry veteran, Peter Hill, who was appointed a non-executive director of Petra and chairman-designate in December.
Pouroulis tenure at Petra appeared limited after 22% of voting shareholders opposed his re-election at the firm’s annual general meeting in 2019. Petra stood behind its chairman at the time, but said it had embarked on a broad-ranging succession strategy at board level.
Hill, a seasoned mining executive, started his career at Anglo American and worked at Rio Tinto. He is currently non-executive chairman of the UK’s Keller Group, and of the leading European and Australasian building products company, Volution Group.
Pouroulis founded Petra Diamonds in 1997. It began shakily but found its feet after being named the winning bidder for De Beers’ Koffiefontein mine in 2006. It subsequently bought the famed Cullinan mine from De Beers a year later. Petra then embarked on an ambitious expansion programme aiming at production of five million carats a year under the management of CEO, Johan Dippenaar. It appears to have over-stretched, however: the company guided to full-year production of 3.8 million carats for this year.
https://www.miningmx.com/news/diamonds/41033-petras-founding-chairman-adonis-pouroulis-steps-down-from-board-after-23-years/
GLA
Keep the faith
Rgds Sft
PS Look what Tony Durrant done to Premier compared to what Andrew Austin has done for KITOS.
We will see where AP fits in.
I belive he is a seasoned business man and has us charted for good returns on the gas and a l
4 years ago CHAR sp was around 2.70p - 2.50p a share, and this guy swings in to first bat on here unhappy??????
I wish my average was at those levels?
Again IF you have been reading the posts we are all trying to understand what is causing this lack of tale up and the share dilution is my opinion on why, any new investors (ii not us retail) want to see the numbers now and thay assurance can only been calculated by cost and potential return figure conformation (imo).
BUT
This bb would also appreciate some balanced reasoning from any poster on what they suspect to be the root cause???? So.......
Your questions have been discussed in detail in past posts. But as you only joined LSE well maye be you did not read anything before demanding answers???
Ask yourself what's was the last fund raise for and how long was that cash intended to last?
What are you thoughts on: All of the subsequent and timelines hang off FEED completion and the signing of the gas contracts, IS IT ALL A CON?
Hello Henry,
IMO I think it's going to be difficult until FEED is completed on both the Subsea infrastructure and CPF.
Once this is done then the time line (Post FID/ saction) on component deliverables can be more accurately identified.
Subsea 7 and Schlumberger will the be able to provide the vessel (Subsea 7 for ROVSV/ Pipelay vessels and Schlumberger for CPF plant requied work) availability. CHAR have to liase and consider the drill rig availability/ timing also.
For operating the whole operation well that's still not be satisfactorily confirmed, I remember reading g something (can't remember where/ which RNS or "update") that SS7 and Schlumberger could run it for a couple of year......that sounds a bit strange and not quite right?
So I am expecting a farm in of an experienced operator who will need both FEED completed and assessed AND the agreed gas contracts FULLY signed before they then sign up.
There is a LOT happening and I am surprised we have not seen CHAR recruiting more personnel (LinkedIn is always a good source to see who is working on projects).
CHAR have said that both the subsea and CPF structures, equipment and installation work is very industry standard*.
Still need to survey the manifold and pipeline routes before installation starts, and that's right up to the shoreside.
*Note: I agree; its Subsea7 and Schlumberger bread and butter type of work.
LOTS of spinning plates to be ALL kept spinning to meet a start up date. Not withstanding Morroco signing off on every thing. That's why an existing farm in partner would best be some one working in country already I.e. existing, approved and historical enviromental and safety record and documentation.
SO in summary: Until FEED, contracts, farm in partner and sanction are fully completed and realistic flow chart of the project timeline will not be given.
Just my opinions of course.
Jim, do you agree, thought most welcome.
Rgds Sft
Hi GB15,
Yes CHAR and Anchois/ Linux is a lot more advanced in all aspects.
With NewMed Energy wanting to invest in Morocco's OnG offshore development it helps in raising the Anchois project profile.
If I remember correctly Cairn Energy had a lot of spare cash. What we "could" speculate is that this commitment to a new field with an exploration program ( and the associated risk and costs involved) may support the CHARs boards comments that there are a few companies and finance institutions interested in getting involved in our project. In this case negation with multiple parties could actually take a bit of time in trying to find the best economic and long term development fit for CHAR and Anchois/Lixus and Rissana as a whole?
Couple that consideration with the fact that TotalEnergies has fully absorbed Tota Eren there could also be other considerations and offers being presented and included (pure Speculation on my part)???
Rgds Sft
"Israel’s NewMed Energy, formerly known as Delek Drilling, has inked deals with Adarco Energy Limited and Morocco’s National Office of Hydrocarbons and Mines (ONHYM) for natural gas and oil exploration and production activities in a license located off the coast of Morocco in the Atlantic Ocean"
Separate note in artical: "Regarding NewMed Energy’s recent activities, it is worth noting that the firm entered into a merger agreement with the UK-based Capricorn Energy, previously known as Cairn Energy"
NewMedEnergy willing to pay and to commit to exploration, this news will hopefully raise the profile, pity CHAR did not get a mention in the artical.
https://www.offshore-energy.biz/israeli-player-sees-enormous-potential-for-gas-oil-off-morocco/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2022-12-15
Keep the faith
Rgds Sft
Should there also be "interest" on the lack of conformation on what currancy is being utilised for gas payments? Could that have an impact on financial partners and or farm in partners?
I would of thought they would have said $ straight away.....but they did include it in the QnA so may be not a big deal?
Rgds Sft
Well presented webcast.
Although nothing new, I think it was a good exercise in reassurance.
Main reassurances I needed was no further share dilution, lots interested parties both investment and or farm in. The confirmed (non) slip on FEED was expected they have added and scale-up a some what.
So FID and farming in or financing all remain dependent on getting that contract(s) signed and as another poster just said that is going to be tricky, the up supply to Morroco has been given up but may be a better rate? There could be a sliding scale but future supply with out Russia being in the mix is obviously going to remain strained....$15 would be a good and reasonable long term expectation (imo).
By the way REALLY good question / ask on dollars or local currency (weldone who asked that) THAT was intresting.....no clear conformation....very INTRESTING and IMPORTANT.
Rgds Sft
Spain opts to transport hydrogen instead of gas via Barcelona-M****ille subsea pipeline as it eyes
https://www.offshore-energy.biz/spain-opts-to-transport-hydrogen-instead-of-gas-via-barcelona-m****ille-subsea-pipeline-as-it-eyes-eu-funding/?utm_source=offshoreenergytoday&utm_medium=email&utm_campaign=newsletter_2022-12-12
Another indicator of where we are heading, now can Chariot get a slice of the pie, or will CHAR find a part of another of AP's pie?
We need to see real financing on EACH arm of the business and a signed contract for the gas part please
Rgds Sft
Latest increase on declared shorts was 1st December:
https://shorttracker.co.uk/company/GB00BMBVGQ36/
I agree this SP is a shocker, and does appear that some *companies belive that even at 318p (1st December) they are prepared to increase thier position although only by a further 0.11%: *Taconic Capital Advisors UK LL up to 1.85%
Intresting to know if HBR has used the massive tax credit they inherited from PMO?
HBR management have not managed to gain share investor confidence or support BUT how much of that can be due to the move from out of fossil fuel especially oil (yes the have good gas weight) centric companies.
May be they should be promoting the carbon capture project, but with no renewables energy transfer plan, who are the ii's buying in not the pension funds at a guess?
Rgds Sft
That document is quite illuminating: especially the
Reasoning:
"2. WHY IS THE COMPANY PROPOSING THE SCHEME?:(1) The identification and exploration of oil and natural gas fields, primarily in North-West Europe, through acquisition or exploration; (2) the drilling of appraisal wells to assess the viability of oil and natural gas discoveries, and the development of infrastructure and assets needed for viable commercial production; (3) the progression of development assets into oil and gas production from our operated licences in a safe, responsible and sustainable manner; and (4)........... "
Points 1, 2 and 3 set the future intentions for Kistos in that there looks to be, due to the lack of working assets for sale, a lot more drilling /exploration. Now this is a step change to the old rock rose and new Kistos team previous ethos.
As we know with previous poor drilling results from Q11-B, poor pre drilling appraisal and geotechnical survey data interpretation can be VERY expensive. So AA has hopefully recruited a better data analyst team than he used for the last project.
It's just got a bit more "intresting", and now we know where some of the cash headed, still need some for the TotalEnergies-operated Glendronach development, if that gets sactioned.
Exploration drilling
Wonder if he has a block in mind, will it be virgin, post 2d or 3d survey or partnering with another operator to develop a hub?
Rgds Sft
Hey Jimmy, I take it you have already submitted your questions for the webcast? I submitted 5 but do not expect them or all of our (investors) questions to get answered, but hopefully they do look at them and answer a reasonable spread.
Rgds Sft