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It's beginning to dawn on the market that Angus recorded a profit of £117.810m (I know there were costs/offsets etc!) yet the Market cap of Angus is still only £24million!
Neg heads out again!
>Operational efficiency was 92% (up from 87% for the fourth quarter 2023)
>Gas condensate (liquid) production averaged 128 bbl/day
> Full compressor service completed "A" and "B"
>2.30 mm therms per month against hedged volumes of 1.5 mm therms
>Rig Q2 to reinstate production from the Brockham 2Y well
All on the back of the Hedge dropping again in June and then just 12 months before current Hedge expires.
For those interested fairly regular flows over Easter.
Date EOD (kWh) EOD (mscm)
30th 2,165,556 0.188
31st 2,260,000 0.197
1st 2,211,111 0.193
2nd 2,215,556 0.193
The link with Lightsource BP is to be welcomed. BP have a major stake and they intend to fully take over.
In the Lightsource BP strategy it states a major move into energy storage of the electricity generated by the solar panels. Surely they took note of fellow winners Savannah Resources huge lithium mine ;-)
It from Eco.pt: This is a digital economic newspaper with focus on business, economics, and finance news from Portugal and around the world.
Https://eco.sapo.pt/2024/03/21/operacao-influencer-pgr-admite-que-processo-de-costa-desca-do-supremo-para-dciap/
In many Portuguese newspapers from yesterday and is always written only about sines. A good sign.
Yes, legal stuff no longer mentions Barraso!
"The process is related to the production of energy from hydrogen in Sines, Setúbal, and to the project to build a data center (Data Center) in the industrial and logistics area of Sines by Start Campus."
Seems the presentations, election over and fuss over Portuguese government ministers is over, heading back up to year high of 4.9p?
True value of Savannah is yet to come.
Good article about the West's reliance on Chinese Batteries.
https://www.theguardian.com/world/2024/mar/18/catl-chinese-battery-maker-evs-electric-vehicles
Mário Nuno dos Santos Ferreira CvGDSMOM • ComM • ComMAIC ( Matosinhos , 15 January 1968 ) is a Portuguese businessman and entrepreneur [ 2 ] , president of the Mystic Invest group, CEO of DouroAzul and owner of Pluris Investments, which is the largest shareholder of Media Capital .
Mario Ferreira
Full name
Mário Nuno dos Santos Ferreira
Birth
January 15 , 1968 (age 56)
Matosinhos , Portugal
Nationality
Portuguese
Fortune € 601 million [ 1 ]
Virgin Galactic
TVI
He is the president of a river cruise company in Portugal. [ 3 ] He was the first Portuguese space tourist [ 4 ] , a trip he took on August 4, 2022 aboard Blue Origin 's New Shepard One . [ 5 ]
He became especially known to the general public as one of the investors in the Portuguese version of the Shark Tank program , in 2015 and 2016.
Due to the partnership with Virgin Galactic and the friendship with Richard Branson, he founded the first Space Tourism company in Portugal: Caminho das Estrelas. This company is dedicated to marketing everything from orbital flights to zero gravity experiments.
WG818 - Stop being so negative - the important word here is "should"
"should the Company fail to make any of the above cash
payments, Forum can instead elect to receive such payment in new Ordinary Shares issued at a 15% discount to the 30 day volume weighted average price."
Do you remember we just had a£20million loan agreed?
Lots of 500,000 plus share buys this morning. Something happening?
Really good news. We can certainly see over 50mt being reported in the DFS.
That amount will attract the big miners/processors to the table.
After the Kistos gas storage purchase for £25 million is the market is waking up to the fact that Saltfleetby has 40x the amount of storage?
Avannah Resources Plc, the developer of the Barroso Lithium Project in Portugal, Europe’s largest spodumene lithium deposit, is pleased to announce the completion of the resource-related drilling in the first phase of its current two-phase drilling programme. The first set of assays from holes drilled at the NOA and Reservatorio orebodies have also been received showing excellent grades and continuity of mineralisation. These results, along with those still to be received, will be used to finalise plans for the second phase of drilling and will be fed into new resource estimates for the orebodies as part of the Project’s ongoing Definitive Feasibility Study.
This is the important bit regarding the Hedge. It finishes as expected July 25 (pretty close). Then a sensible Hedge price protection put in for the next 18 months at a very reasonable price protection at a discount of 3ppt (pence per therm). When the July 25 comes the money will be rolling in!
Hedging Programme
Inter alia, the Facility requires a rolling gas price protection policy to be put in place which stipulates a minimum price protected amount equal to 45% of gas produced for the 12 months immediately ahead, and 33% for the following 6 months and 0% thereafter. The existing Mercuria hedges are being novated and restruck with Trafigura. The Company will strike 7.3 million therms of new hedges to price protect the Mercuria hedges crystallized in July 2023. The terms of future hedges will be in line with market rates for senior secured price protection at a discount of 3ppt (pence per therm) to the then prevailing ICIS Heren price.
APA Statement seems to me the EIA is safe.
“Considering the content of today's news, which notes the opinion of the Public Ministry on the Environmental Impact Statement (DIA) issued for the preliminary study of the Mina do Barroso, and despite the fact that this Agency is still analyzing it, it is pertinent to point out, from the outset, that the environmental impact assessment (EIA) procedure was carried out in accordance with the legal terms of the respective legal regime.
In this context, it should be remembered that a multidisciplinary Evaluation Committee was appointed which, although coordinated by the APA as the competent EIA authority, included 8 other entities and various specialists with competence and vast experience in the technical matters now referred to by the Public Ministry.
The issues now referred to by the Public Ministry, such as the impacts on water resources, ecological systems, cultural heritage and the landscape, were thoroughly analyzed and weighed up by the Evaluation Commission, as is clear from the opinions it issued and which were the basis for the favorable conditional EIS issued by this Agency."
All back to normal. Looks like these after hours buys/sells cuased the spike.
01-Feb-24 17:08:49 1.85 500,000 Unknown* 9,250 O
01-Feb-24 16:11:02 1.85 500,000 Unknown* 9,250 O
Still not corrected price on Google/yahoo???
Showing as 57% on Google and Yahoo but not on FT :-(
Does this suggest they will announce finance deal before Monday?