Member Info for Tobin

Probably the most important think to note here is that the placing gave the CEO and chair opportunity to get their noses in the trough at a discount.
The fact that they have done so with such gusto with their own cash is great to see!

With respect my post doesn’t compare EML with sirius minerals, they are quite different.
But my learning experience was the difficulty in raising funding. Even though CEO Chris Frazer was primarily a banker , an expert in bonds and had done it very successfully before. Even in the ground before running out of money. I got out early with very small loss few months before.
It’s where I now see the primary risk, but granted it may well be coloured by my particular experience.

Indeed, but we need to have better idea about the funding; that was my learning experience from sirius minerals.

Actually looks like I can buy through AJ Bell but would be a phone trade, £30.

North Energy are the largest shareholder in TXP and they have been selling, but still have a large share holding.
I was looking at the quarterly report and it makes interesting reading.
https://northenergy.no/investor-relations/share-performance/
It doesnt look like they have any particular designs on selling out of TXP but it does make up a large part of their portfolio.
23% at the end of 1st quarter.
They picked up £1.5million of the £9 million placement on the 19th February, hardly an investor that is selling out!
It is maybe not surprising that they maybe selling down some of their position in TXP especially since TXP SP has doubled since the end of March. It would otherwise be representing in the order of 40% of North Energy porfolio.
I also note that the SP of North energy was sitting at about 50% discount to NAV which was made up of 53% cash and 23% TXP.
The share price is up 50% from then but with the rise in TXP it is still probably sitting at a 40% discount to NAV which unless they have been buying heavily in something else will still be heavy mix of cash and TXP.
Anyone know how to buy shares on the Oslo Stock Exchange????

Great summary of the time line, tx

I think what isn’t being fully appreciated is that TXP are targeting a geological formation called turbidites. These are geological formations that where not looked at in the past especially when they were primarily looking for oil.
These two hits at coho and Cascadura are not just luck but appreciation of the geology. And there are many, many more targets like these across their area.
They are very likely to keep making find after find. Likely to get better and better results as they understand the geology better.
This company has barely started IMO.

I have, and i still hold a fair holding, somewhere north of 2 million shares. I would like to think they are going to surge higher but I am having my doubts for the near term.

While we wait for payday on EML, TXP .. RNS today, say no more!

Indee, even though they know that they will need to drill another well to even start to drain Cascadura at a reasonable rate they still want to go for the deep target; they must be very confident there’s even more.

Rare opportunity to fill your boots.
Market cap of this company is only £80+ million and 2wells at cascadura will make more than that in a year and will likely flow for decades.
And that’s just the start with plenty of other targets many even bigger.

Just a reply to earlier.
Raising lots of cash, especially cheap cash without lots of dilution isnt easy. I found out that from Sirius Minerals. Last year HL did say that they had some very significant interest from a bank, but we are in very different times. The story is good but IMO this remains the biggest risk for shareholders in this company, and I am one.
I did mention TXP and salt lake potash as alternatives for a new investor. I hold shares in those also. TXP was down on Friday, but that is just an opportunity to buy, which I did.
I found my way to Salt Lake and TXP from other forums. If anyone has a better alternative to any I am always receptive!

Still waiting. I know difficult times but it would be very useful to have an update. Usually in around last week of the month for previous month so well over due; though I note that last year the May results were not reported until 11th July. So maybe this week?

It was a proactiveinvestor interview from a month ago. You have to really watch it to appreciate it. He wasnt selling
but being pushed on what the debt situation situation was and after talking about this he says, almost of hand, that when Cascadura comes on stream they will be looking at a "wall of cash" and the "problem" will be what to do with it https://youtu.be/r2Kpi1gVHVg?t=519

Ezhik out of interest why did you try to sell yesterday?
Trying to trade is always difficult and to try trading a stock like this with quite high spreads is a good way to make MMs richer!

This isn’t a first time investor stock. There is upside but there is a big risk around financing and share dilution. They have had interest expressed in financing but that was pre-Covid.
There has been a marked shift to risk aversion (look at the bond market) unless you are US tech.
It maybe a good share for a new investor to get the feel of how the ups and downs of share price and news flow affect your emotions to the share but no quick wins and it’s going to be a rollercoaster.
TXP is much more interesting in the short term and the Australian SOP plays. Easiest is salt lake potash.

I don't see any actual sell off. This is just the MMs marking down as an "oiler" with the US market getting jitters about growth.
You have to take opportunities like this to buy on the dips.

North selling are helping keep the price down. For a long term investor that isn’t a problem. Bought some more today.

Just under 4p in isa. 1.8m shares. Probably too much but morocco are very keen on developing fertilizer industry on the basis of their phosphate reserves and that means they will want to see this potash project succeed. How much share holders gain I am not sure.

I think my biggest concern is on funding and how much dilution there will be. It can be a bit of chicken and egg. If the share price and capitation goes up then it is easier to raise more money with less dilution which makes lenders happier to lend. But if the SP goes down then more needs to be raised from lenders but they are less happy.
The BFS should be what catalysis the hopefully upwards spiral.