Member Info for tony_currie

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?

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?