Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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?
Definitely more CD! The reason being is that ALL global car manufacturers have committed to EV. That is no small undertaking as the infrastructure to do that takes years to develop (hence 2030 deadline).
This includes everything from Sourcing, Design, Factory floor infrastructure, Training, Marketing, Dealer support etc.
Highlander1970 - you do realise Angus have extracted over £20 million pounds worth of gas(so far) and have stated in previous RNS that the field could last 10 years!
HITS - doom and gloom AGAIN!
All you ever do is try to play positive news down and quote data from December 2022??? Since then we have met the hedge consistently and made a good revenue. Do you actually own Angus shares?
Bubblepoint - quick question.
Why would Richard resort to dilution when it was clearly stated that the revenue for the last quarter was £7.2m?
Additionally, it has already been stated that part of the terms of the new loan agreement are a 12month payment holiday.
Although the overall quarterly production fell from 7.9 mm to 7.35 mm please take account of the following.
"The quarter included a planned shutdown for 6 days during October for maintenance and remedial work on one of the two compressor engines on the Saltfleetby site. B07T production losses were minimized to one day for completion of the tie-in work"
Angus are still producing well over the Hedge - 2.45 mm therms per month, as against hedged volumes of 1.5 mm therms per month.
The most important Q&A.
The latest line from the doom merchants on the chat forums is that pretty much every penny earned from Saltfleetby will go to paying off debt.
So my question is, will this package still offer considerable upside to Angus in terms of income generation in addition to debt repayment? Thanks Asked on 3 January 2024
Thanks. In October we published a Competent Persons Report which gave the Saltfleetby field a valuation, including senior debt and hedging terms ,of £57m after all punitive UK taxes and at recent relatively weak gas prices. This valuation did not include the £6m of junior debt, but it equally excluded any value to be had from Brockham, Balcombe or Lidsey or any other projects such as the gas storage project. It is hard to understand how the doomsayers get down from £57m to zero of value in the share – even allowing for the junior debt.
Our goal, once the financial position of Angus has been stabilised with this refinancing, is to generate handsome returns from the Saltfleetby Field and other assets, current and prospective, for all our shareholders and we are on track to achieve this.
Here's what I have researched on the Rough. This gives an idea of the value of Gas Storage to Angus.
"Rough is a natural gas storage facility under the North Sea off the east coast of England. It is capable of storing 100 billion cubic feet of gas. Centrica indicated that they are working to restore storage operations at Rough which would depend on securing subsidies from the British government. Centrica was aiming to have some capacity available for the winter of 2022/23 against an overall plan to increase storage capacity gradually over time. As an indication
of valuation, in 2002, Centrica bought the plant from Dynegy for £304 million."
"The Saltfleetby field, in Lincolnshire, is the UK’s biggest onshore gas producer. In the most recent monthly data, it extracted 75% of UK onshore gas. All onshore fields contribute just over 1% to UK gas production."
Balancedriver - have you got a link?
"new funds will accelerate work on gas storage feasibility."
The country needs gas storage. Angus can provide it, anyone have an figures on the money to be earnt from gas storage?
"new funds will accelerate work on gas storage feasibility."
The country needs gas storage. Angus can provide it, anyone have an figures on the money to be earnt from gas storage?
Goodness WG818 - why are you so negative on this share.
The last question and answer clearly stated plenty of positives,
1) The are going ahead with refinancing (just be patient!)
2) Since the permanent flow line they have been managing the flows down in order to adjust the individual well flowrates and pressures to optimise production through the new facilities. It can take time for this to take effect. Angus are still meeting the Hedge comfortably.
4) Hedge ends in June 2025
4) The New CPR P90 NPV10 valuation is £57.1 million (lots of gas still to extract)
5) Two further wells Planned.
6) Gas prices are still twice pre War
7) Balcombe given go ahead.
If you are so negative just sell up and go OR just be quiet and patient!
Thanks Singhie, The drops in flow where just the regular monthly maintenance as detailed by Angus. So much for the Doom mongers talking about having to buy gas - fools!
Yes, finishes June '25. Then instead of 50% going on Hedge it's down to just 8%.
Main Points.
"We are adjusting the individual well flowrates and pressures to optimise production through the new facilities. It can take time for this to take effect. We have not seen any change in water production, however we have had some temporary performance issues with the gas compressors on site which have necessitated shut downs for maintenance. Both compressors are currently functioning."
"the feasibility of bringing the field (Brockham) back on production in the first part of 2024 and will advise the market when we have decided. At that time we will provide a forecast of expected production in 2024."
Regard Debt "Clearly equitising the £3 million bridge facility has improved the terms of the debt we are seeking and allows us more latitude in determining the final amount we are seeking."
Investor questions due on Friday. We often get an RNS with good news before the answers appear.