The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Not been on for a while-mud slinging is just too tedious. I’ve posted the following question. “As a long term holder I’m interested to know whether you believe Reabold will still own or have any interest in PEDL183 by January 2022?” Don’t know how they’ll select the questions-probably quite difficult without compromising anything, but worth a try to get a peak into their view on a year out.
Sorry those questions were on the RBD board but they apply here. PEDL 183 ownership UJO and RBD 16.67% each then Rathlin 66.67%. RBD has 60% of Rathlin then other 40% owned by 2 holding companies and 25 small individual shareholders. So who will be round that table?
Thanks Jack. I am simply looking to get to who owns the non-Reabold 40% of Rathlin to understand the dynamics of any commercial negotiations. Once we have the “ducks in a row” of EWT’s/volumetrics/CPR someone has to decide what happens next. On Connaught’s website they call Rathlin a subsidiary. Is this just because it used to be and the website is out of date? Guess so. Also I never assumed that CNCB holding Corp and Sunderland holdings Ltd were connected, just that they hold 10% and 20% of Rathlin respectively and I’m trying to establish who they are. No agenda just looking for the facts as these two holdings plus the other 25 small shareholders own 27% of PEDL183. All the Rathlin shareholding info is from January 20.
No probs GP-yes Rathlin numbers. I was trying to get to who owns PEDL183. So if my figures stack up it is Reabold 56.3%(39.66 through Rathlin and 16.67 direct), UJO 16.67% and the balance of 27% with CNCB/Sunderland/25 individuals in Rathlin.
Thanks GP. Just had a quick look for interests sake-as at 21st Jan 2020 16.5m shares, Reabold 9.8m which fits with my maths of 59.48%. Two other significant shareholders are CNCB Holdings 1.77m and Sunderland Holdings 3.36m. These 2 together represent 31%. Held on behalf of Connaught? Then a list of 25 individual shareholders all with relatively small numbers.
That’s be great-cheers Robbla
Hi all-new to this share as of last week. Where is best place to get the plan for the Bahamas drill programme?
Is this a new broker forecast or the one from the end of 2019? By my calculations that would be a value to UJO of about £140m and a value to RBD of about £480m. If that was simply reflected in the RBD share price it would be over 6 pence just for WN. Aware that it’s not as simple as that though.
The information and debate about value of RBD/UJO/specific assets has been useful to me-thanks to all. Does anyone have a sense of the timelines to get to monetisation of the various assets? I recognise this is exploration so plenty of uncertainty, and the pandemic introduces even more issues into the mix. At what point could we see a report, based on new test data, which would confirm or otherwise the estimated NAV of the assets? West Newton is clearly the biggest hope. Are we talking 2 months/6 months?
Analysing the SP Angel and Shard reports shows them valuing West Newton at between £487m and £557m, thereby valuing RBD’s slice at between £272m and £312m on a NAV basis. Game changer for the SP for sure, but how does NAV convert to monetisation-surely no company would simply pay the NAV-there’s no gain in it for them. Any thoughts?
Assuming all goes well what are the views on how the exit would unfold-return funds through buy-backs and dividends as assets are sold, or wait until either there is an offer for the job lot or all assets have finally been sold individually?
This really is going to be an exciting few months ahead. Did I read somewhere that Malcy had said 4-6p was possible? Guess that was with everything going swimmingly and now with an overlay of oil price and demand recovering sufficiently. But still....
Hey-just trying to get to grips with all the various fingers in pies. Seems that with a fair wind there is well over $1m of NPV here, say $0.5m to RBD with the % of control. That seems to give a share price of approaching 6 pence or 13 times the current price! Does that make sense?