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developing countries need fossil fuels now. Europe need more gas and don't be surprised if German coal usage goes massively northwards. the bloke at lunch today was talking about his utility costs, went into his account and last week his monthly was £412pm and after the hike is £738pm! How is that sustainable even in the short term (2-5 years)? if it is bad for our pockets here, then at least we have continuous power. imagine having cuts every day?! no surprise there are protests.
GCM's SP is the price. that's the market view for the risks involved but I am confident (and in heavy - sadly not at this price) that the next RNS will see a significant rise and interest in the project. I think we'll hear a lot more on the gov talks and/or formalising partnerships for the project. A clue to unlocking significant value for the big lender and consultants is share only deals. Why work for nothing or very little if you choose to sell a few shares when you allowed? Something has to give soon!
Roger that Bangla. In my head was Q3 but as you say they better get on with it. Need NFC, some way of funding, tie the Power China deal up (they want a bigger slice of the action) and receive acceptance. Who knows, GCM could be future down the track we’ve given them credit for. However, the share price doesn’t lie!
Always short term vols after an RNS. Looks like settling back to around 4p mark. I’m genuinely pleased and excited about the RNS particularly mentioning opening up comms with gov links which we've not heard before. Would be good to see NFC come back on board and renew their MOU. Power China clearly still want this with further 2 years and there is enough cash in the kitty to last till Q3 2023. Yes there will be dilutions but no cash up front and we wouldn’t have got the foot in the door. Chop chop
totally agree that the energy park piece could be a game changer. they also signed a JV with a Japanese firm Aug 2021. This was to capture fly ash for 'environmental' solution of the waste management. they have made the right noises but I don't expect anything soon. They now have the cash until Q3 2023 so in my experience with GCM, they'll ride that with a few updates until then but no proposal.
yes but they can't get it out of the ground.
i've been waiting 12 years or so.... be ecstatic to be proved wrong
Still need to to get NFC back on board. Also, if we are going to be an energy park shouldn't we be signing JV s with solar power companies that can provide, install and run the thing? Maybe then we can present a case
Either way good to see him have a stake in the company.
Jason Hobson also had shares….but he sold them when he left 1st time
We are now going to be an Energy Park!
'They all must know something we don't!'
I too have thought this for years but yet to see anything come to from it. There obviously is something going on and now is about the best time to get it moving forward.
Polo are VERY deep value investors and I hope they get the large GCM stake right
Cheers. Major polo holders wanted money back out and the only way was to try and sell down some hibiscus or get rid of tang. You would be right if GCM comes good polo May come back online.
Re Polo - looking through their portfolio as at 31.12.19 they had 8.75% share capital of hibiscus petroleum and that’s got to worth a few quid now. Be interested to read / hear of how polo are doing as this would at least give us a bit more to go on. However they just don’t release any info now delisted. Wonder if they’ll ever make it back? Doubt it but never say never
Yes just remembered and found AAOG:
Anglo African Oil & Gas PLC - AIM-listed cash shell - Says cancellation of shares expected to occur on Wednesday, after company failed to mount reverse takeover nor raise GBP6 million to be classed as investing company. Says will enter into option agreement on Wednesday with Saltfleetby Energy Ltd to take 25% stake in Saltfleetby gas field, East Lincolnshire. To be satisfied by GBP8 million in shares. "The company continues to assess other opportunities in the natural resources sector. As above, it remains the intention of the board to re-admit the company's shares to trading upon exercise of the option or once it has found another suitable business with which to partner," Anglo African Oil says.
As of 1st March majors were:
Polo 24.2%
Dyani 19.2%
Oriental Eagle 3.3%
As of 9th March
Polo 24.2%
Dyani 14.8%
Oriental Eagle 3.3%
Kilkenny 3.3% (remember them?!)
To me this says polo took a chunk of the offer to retain their weighting of c 24% and Kilkenny jumped back in with oriental buying more. Dyani not buying anymore as these shares are free money for introducing the Chinese so no real incentive (or no cash) to buy more. Nothing on polo website updates for ages.
Why would tang buy more from polo? Is he lining up a purchase at a suppressed sp valuation. Polo once offer 175p in 2008 as GCM was supposed to be jewel in the crown of their portfolio. Obviously not! However why would polo cancel the last loan of £300k and buy more at 0.514 without inside track?
Kilkenny dumped a load of GCM several year ago and reinvested into another dog. They lost a shed loads on that new investment (can’t remember who they bought but I’ll have a think). Now back in the fold.
Interesting but pure speculation and no real updates from GCM. Standard stuff I suppose.
Any other ideas??
Maybe TR1s this week.
Will be monitoring the major holders % to see who has bought in.
Onwards and upwards from here.
Loads and loads
FFS :(
Excitement of potential drains away again.
Kicking the can down the road until Q3 2023.
2nd leg up in the start of the journey.
The major shareholders must be confident of at least a proposal. Dyani have over 21m shares and are free to sell but haven’t. Whilst the share is very low my confidence is actually reasonable at present. Here is hoping to some action in the next couple of months.
Not sure about anytime but I must admit to checking it daily at 7am. This is GCM and have historically left it late before sorting the money. They alluded to this deal was in the pipeline and may have been in place before end of Jan to avoid the last £300k Polo loan. Now GCM have enough cash until April (at the earliest) I not expecting this any time in the week or so. However, good to see the share price hold between 7-8p. This is a good signal because why would a share move from 4-5p to these levels based on having just enough cash to last a few months. Something is up but what? The longer the funding drags on this will slip and the board will be desperate to do a deal with someone.
Agree totally. We've had continuous positive movement over the last couple of weeks resulting in 50%+. The news we had was funding now sorted for next 3 months. The previous drawing of Polo loans haven't had this effect in the past so must be a change in sentiment; whether that is the coal in ****stan or rumblings that we may have a big new investor getting us ready to get the submission in?? With this share who the heck knows?! At the end of the day we are seven pence a share. still massively down but enormous upside on this one.
NB no global uproar about ****stan digging up their coal