Member Info for Trader76

Is anyone still waiting for the share conversion from Base Resource to Energy Fuel Inc ?

I am with Barclays Stockbroker, and there is absolutely no update from barclays while it labels BASE as De-listed on their platform.

Has anyone noticed if your broker has paid DIV based on the correct exchange rate ($/£ - the one declared by DEC) ?

I am with Barclays, and they always pay in quite late, and I notice exchange rate is not the same one (worse than) that was declared by DEC. On one occasion I have challenged barclays, and eventually they admitted the "mistake", and compensated me the right amount. I am also holding a number of other US$ based stocks, and same problem happen as well, right now I am still awaiting barclays replay on one of them

Looks the insiders/directors have been selling hard lately...

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Latest deals

Traded Action Notifier Price Amount Value

2024-02-20 Sell Lukas Paravicini 1,824.58p 57,407 £1,047,436.20

2024-02-20 Exercise of option Lukas Paravicini 0.000p 121,592 £0.00

2024-02-16 Sell Stefan Bomhard 1,843.00p 140,219 £2,584,235.68

2024-02-16 Exercise of option Stefan Bomhard 0.000p 296,996 £0.00

This offer is only available for LSE market NOT for New York stock exchange...

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The Tender Offer is being made by the Company’s broker, Stifel, as principal, on the basis that all Shares that it buys under the Tender Offer will be purchased from it by the Company under its existing buy-back authority granted at the annual general meeting of the Company held on 2 May 2023. All Share purchase transactions by Stifel will be carried out through an on-market trade placed on the London Stock Exchange only. No Share repurchase transactions will be undertaken pursuant to this Tender Offer on the New York Stock Exchange. Shares purchased under the Tender Offer will be cancelled by the Company.

More like well into 2027

The latest update indicates that at 31/dec/2023, BSE has about cash of US$ 78 Million (with no Debts), and the Toliara project would require capitol of US$ 71 Millions. Even-though other existing end-of-life mines would not be able to extract any more +ve positive cash flow, I assume BSE current cash position should be enough to cover the project.

Indeed.. another company set up by the twin bro in 2017, and followed the same pattern , was strike-off again in less than 2 year (during 2019.)

https://find-and-update.company-information.service.gov.uk/company/10762400/filing-history

..

And interesting that the "snowcapresearch" idoes NOT appear to be a registered company of any sort, as it is NOT listed in the Company House. And what is more interesting that the twin brother did try to setup a company with the name called " KINNERSLEY KINNERSLEY CHA & PARTNERS LTD" during 2015, but only lasted less than two years, the company has been strike-off ....

(https://find-and-update.company-information.service.gov.uk/company/09767898/filing-history)

how much trust would one be willing to bet on the twin bros ?

"..is Snowcap a front for green activists, or for short-selling, or something else.... turns out to be the latter: Snowcap is an ESG-focused investor, but....."

https://www.afr.com/companies/energy/snowcap-behind-the-mystery-uk-firm-that-went-after-agl-20220603-p5ar0i

How much did Barclays take off for the WHT ? I am also with barclays, but I opted cash DIV payment within my ISA, and 30% (instead of 15%) WHT was also taken off. I had questioned Barclays several times in the past, but each time the answer is that is the amount barclays had received from DEC's registrar. I also holds another US based and list company (Prospect Capital), who pays monthly DIV, and only 15% WHT was taken off. Not sure how Barclays could get one right, but messed up with another one.

Of DEC's three major operations, the so called Upper Stream is to extract NG from near end of life NG wells, this also means DEC's share price will be very much affected by the fluctuation of NG gas price. Ove just last two month, the NG gas price has been steadily declining to by almost 40% (compared to its pick price around mid- Oct/2023), and DEC's share price has declined by about ~20% . Therefore short term wise, unless NG price is picking up drastically, it would be hard to see DEC's to go up significantly . Of course, DEC could always to grow/expand/speedup its two other operations, but that would be matter of longer term (say 2~5 years cycle?)

Indeed, at this stage , if BSE opts to return portion of cash to shareholder is step closer to "dissolve the company"

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Base Resources’ capital management policy

Consistent with Base Resources’ growth strategy, the Company seeks to provide returns to shareholders through both long-term growth in the Company’s share price and appropriate cash distributions.

Cash not required to meet the Company’s near-term growth and development requirements, or to maintain requisite balance sheet strength in light of prevailing circumstances, could be expected to be returned to shareholders.

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So, at it stands now, BSE has cash of 77M with zero debt, that is about the same as its mkcap of 127M AUS (x0.61 = about 77M US). I assume if there were no further progress on other fronts by end Q4/2023, then BSE might opt to return sizeable portion of the capital back to shareholder based on their DIV payout policy..

Now Kwale is gone, all bets are on their Toliara.

Alessandro, after talking to Barclays brokers (via online chat/msg), I got the DIV paid in just now, but with deduction 30% (WHT) instead of 15% (USA/UK WHT treaty).

Anyone still waiting the DIV payment from Barclays Brokers ?

Just checked with Barclays, DIV has NOT been paid in yet.

Whom are you with ?

Hope might be tarnished as the Turks just carried out an air strike on the Kurds today

https://www.bbc.co.uk/news/world-europe-66979396

"..Turkey says it has carried out a number of air strikes on Kurdish rebels in northern Iraq, hours after a suicide blast hit the interior ministry..."

Into Oct now, still awaiting for DIV from Barclays Stockbroker

Very juicy DIV 20.5%