Member Info for tony_currie

More director buys - all be it a small amount - board meetings must be very positive!

Very Positive. Highlights are:

>Post-Tax (probable resource) £90.6m

>Main Field Westphalian Reservoir (probable) BCF 27.2

>Southern Satellite Westphalian Reservoir (probable) BCF 15.6

>The Company is confident that gas usage will prove to be lower than this estimate once the plant has fully stabilised with the new flowline in operation.

>Two further wells on the Main Westphalian reservoir, SF9 and SF10, are scheduled to enter production in January 2025 and January 2026 respectively, to extend plateau production and accelerate the extraction of gas. The cost of these additional wells, expected to be funded out of field cashflows, has been included in the NPV10 valuations outlined above.

> All without the oil income and further production on these sites

Large director buys always a good sign and shows confidence in the company.

Want to add a few more positives to this:-

1. Global finance update VERY soon which means within week or two.

2. Rerate of the share price near term. That’s what we needed to hear.

3. Significant interest in storage facilities and update by year end.

4. Permanent flow line still on track for completion in October.

5. Balcombe decision, expect some news during the 4th quarter

6. All historical hedge payments, including the rolled hedge payments from July-August 2022 when the plant start-up was delayed, have been made and at current production levels, the company is comfortably meeting its hedge commitments.

Lots of nano snippets but th

If the reduction is maintenance why is this taking far longer than the usual 2-3 days.

Definitely something else going on - permanent pipe line connection?

Well funded - just waiting for Mali to lift the licensing application pause.

This share will then rocket.

The rumours persist.

"the expected returns are huge. Savannah Resources expects to recoup the investment in just one year, expecting total revenues of €3.9 billion and a cash flow of €1.6 billion over the project's 14-year life, the same source reveals.

In this race may also enter the Portuguese-American Aethel Mining, having already become public its interest in buying the project of the Barroso mine, from Savannah."

Have we started the permanent Flow pipe connection?

Yes looks like take over news in lots of places.

After the news that Aethel flew to Australia to talk with Savannah, they are now talking tp the Major of Boticas. They are either investing or taking over!

Great appointments for Savannah, a Portuguese CEO will help smooth the way forward for the company, Dale back to what he knows best - Technical Director.

Stocktow - worth reading the latest from Bert - he is now more confident the licensing will happen.

Bert Monro, Chief Executive Officer of Cora, commented, "Following the recent promulgation of a new Mining Code in Mali, we look forward to the government's lifting of its moratorium on issuing new mining permits such that we may, in due course, progress application for a mining permit over Cora's flagship Sanankoro Gold Project. In addition, we look forward to providing progress updates on the funding of the Sanankoro Gold Project following the appointment of Atlantique Finance to act as sole adviser in the structuring and mobilisation of a medium-term loan of US$70 million in CFA franc ('XOF') to support funding the development of the project (see RNS dated 28 June 2023)."

Couple of important bits :-

1)Savannah has a strong negotiating position as it owns 100% of the Project and has yet to commit to any offtake arrangements

2) Phase 1 of the DFS drilling programme which includes 60 reverse circulation ('RC') and Diamond drill holes is focused on upgrading existing resources, providing further samples for metallurgical test work and geotechnical drilling for the final open pit designs and is due to get underway around mid-September. Subject to the final negotiations of contracts the drilling has been split between EDASU (RC Drilling) and SPI (Diamond Drilling) and is expected to take around 2-3 months to complete.

Where have you heard this Barney182?

Very interesting comparison with Liontown. There DFS states they have 14.3mt at 1.1% Li2O and will produce between 2 and 4 million tons of ore per year.

Savannah compares very favourably with this having 28Mt containing 293,400t of Li2O at an average grade of 1.05% Li2O.

The only difference is Liontown are nearer production *their DFs was 2021.

On these figure the minimum offer we should accept is £1 billion!

Has the permanent pipeline been complete?

Saltfleetby

2,615,556 Kwh

0.228 MScm

41.28

Saltfleetby

1,901,111 KwH

0.167 Mscm

41.25 cal

"Since we are engaged in an accelerated repayment schedule on the senior debt anyway, any refinance is likely to accelerate the first royalty payment date by no more than a few months"

My personal view is that the quarter figures will answer a lot of the nonsense that is being spread by WG,HITS and Bubblepoint.

1)This IS the first full quarter with two wells.

2)Our debt is large BUT the revenue generated can cover this in one single year (most companies would be ecstatic at this!)

3) The Hedge is gradually winding down and then we have at least 7 further years selling all the gas at market price.

4) The 8% royalty may sound a lot but is not payable until all the loans are paid AND by then 50% of the gas will not be sold at the reduced Hedge rate.

Also worth noting no AIM company gets to production without loans!

Get your questions in quick, if you want an answer on 1st of September

https://www.angusenergy.co.uk/media/investor-questions/#h-answered

Saltfleetby

2,821,111 EOD (kWh)

0.246 EOD (mscm)

41.30 Calorific