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Think I should say well done to them for sticking their hands in their pockets. Does provide some reassurance.

I think its actually the other way around - the macro issues, in particular interest rate expectations, caused the SP to tank 20% (same as most reits) which led to the Sainsburys being cancelled.

https://www.investorschronicle.co.uk/news/2022/09/08/restaurant-group-still-unappetising/ Bit late posting this, but the IC didn’t think much of the results - I’ve still got this on my watch list, though.

I'm and PI and I'm still sitting on my placing shares, which I bought for the drill exposure. I imagine a lot of people will have taken the 50% gain on those shares and basically capped the share price to 3p since and now that time is running out the price is slipping back as more and more people de-risk (probably with a mindset that they have suffered losses elsewhere in their portfolios, and don't want to risk suffering any more!).

Yeah, there’s room for a difference of reasonable views on this. I’d have expected more of an explanation as to why we have to pay 11% to a JV partner for a secured loan, and yet some on here don’t seem fussed. Outcome of serenity obv way more imp so moving on now.

It may or may not b a prudent move - we just don’t know as they haven’t explained it properly. 11% seems ridiculous to me when decent security is being provided.

I think the point is that the RNS is inadequate in explaining how this has come about - for the reasons articulated here, we are having to work it out for ourselves.

Err, since it’s secured against reliable cash flows, why is the interest rate 11%? Sounds way too high.

Yeah, if I’m understanding correctly they r so confident that it will flow nicely that they have already upgraded the production equipment.

Wow - just see the delayed trades. Explains quite a lot.

It would be less risky to take out the loan and invest it in a high income equity fund/trust, wouldn't it? Personally speaking I wouldn't borrow to invest, unless I could afford the risk of the downside.

There may b reasons other than wressle that the other 2 r progressing so well. I think I read somewhere that the core value minus serenity is 1.4p, and my guess is that with that potential downside the sp is struggling to get above 3p.

Sp move this afternoon isn’t at all unusual, is it? 10p either way might b relevant, but 3.7p - as Scott says it’s just positioning imo and everyone getting their risk/reward balance right.

Yeah, sounds about right - but what’s your view on the sp if serenity fails (which hopefully it won’t)?

V interesting - pause for thought. He crossed the threshold on Friday which may explain the one day mini bounce in the sp. I don’t claim to know if he i s right or not, time will tell…..

Double or half is my best guess as well, though mine is very much from an layman's perspective - I've read/ listened to most of the stuff I could get my hands on, but don't claim to know what it all means. One key question for me I haven't worked the answer out to is whether good flow results at Alkaid 2 can be read across to the rest of the acreage - especially Theta West. Anyone have a view on that?

Yeah, sounds about right. The difficult macro is a headwind but also an opportunity if u can see into fy24 and beyond.

Hi Florence, just finished looking at the update today. Looked like something like this was coming our way, and actually now it's come it's really not that bad. Just added a few more.

Paul Scott on stockopedia gets it about right as follows: "ANG is not the best business in the world, but it looks OK, and above all has bulletproof finances, and a super-cheap valuation. So I like ANG, as a value investment. I appreciate it must be very frustrating to own this share, and see it relentlessly dropping. I know the feeling very well, but I think it's important not to sell in despair, as that would probably be at or near the low. We just have to be patient, and wait for good companies to interest other investors again.

We're back down to the early pandemic low again, which seems very surprising, with the fall looking overdone to me"

Yeah, thanks. Seems sensible for first lateral to focus on getting it right first time. All good.

Sounds like great news. Would someone mind explaining to me what the significance is of a shorter lateral? What does that mean? Thanks a lot.