Member Info for TrekMadone

Lol that said PUTIN but all the spaces disappeared!

Trek

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Emoji’s still work!

Trek

Thought I’d change the heading!

Anyways that’s this quarters divi bagged for those that held at yesterday’s close.

I grabbed a few more today under 90p! Just wanted to be sure to clear 1k pm income allowing for a bit of an fx cushion, I like the round numbers for the budget.

This is now my largest position and a big part of my self made pension. Have traded my pants off here selling from 110 have now bought from 89.6p all the way to 96p and back down!

Still job done now, time to switch off and enjoy the income!

Good luck all!

Usual caveats

Trek

It’s clearly stated in the going concern section that they believe they can continue for a year.

“ At the date of approval of these financial statements with the intention to raise project funding through the issue of corporate copper bonds and with funds continuing to be received from the exercise of warrants, as well as their latest assessment of the budgets and forecasts for the business of the Group for at least 12 months from the date of approval of these financial statements, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.”

Get the bonds done which they are super confident about and we are looking at 110m mcap if the cash gets factored in. Now that would be silly cheap as it we should get an allowance for resource because we then have the wherewithal to extract it!

Even allowing for dilution 100p a share can easily be accounted for.

Then we just sit tight wait for the debt to roll back and await dividends.

The extraction will be comparatively straightforward compared to the journey getting there! We certainly have much less time now to production than that which we have taken getting here and it’s hardly in the SP!

One to tuck away this especially under 40p!

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Trek

25p paid already. Looking lively! Was at +44p last time funding was imminent! So plenty still to go before news!

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Trek

For transparency took 50k off. Neil was one of the key drivers here. I think things will slow down for a bit. Long term no change but will look back in to top up later.

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Trek

Plenty of buyers so far ITD. I guess if you say imminently enough eventually it will be imminent!

There’s no way they can be other than super confident to keep RNS’ing it!

It’s just the longer it takes the more different the world is!

Next week is imminent!

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Trek

Poor FRR investors. Hope they get something back!

If you email LSE….

info@lse.co.uk

Then Craig will probably let you know if they intend to restore it. A few BB’s were wiped on the last ‘upgrade’

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Trek

Not the best news with Neil leaving. Probably been head hunted after his outstanding achievements here!

I hope Debra can find someone soon. NED’s are often part time. To do a CEO job is full time obviously she has the experience and may be the case that there is someone lined up.

Anyways these changes frequently come about in this space and sometimes a change can bring a new focus and new opportunities.

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Trek

A positive update, the good stuff is easy to read here are my concerns…

Cash is at end December, 4.6m with the next drilling planned and 1.6m admin cost pa. We are just about ok for this year. If the bonds don’t land they will need to raise to keep a years cash ahead.

ATS I would have hoped for more concrete results by now and an ops plan!

The copper narrative is changing as mines in Peru and Chile are catching up. Price is stubbornly low as demand is not coming through yet. Interest rates, inflation, China etc.

Copper bonds sound imminent, terms are getting tougher all the time though!

It really comes down to the finance. If we close the bonds and the go for gold the transformation here will be huge. Finance first then the ops will be straightforward!

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Trek

Wow that’s a significant director buy! I say the large trades go through and wasn’t sure if they were a buy or sell. Now we know!

Directors sell for many reasons but tend to only buy for one!

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Trek

Hi Broom,

I noticed those two trades. Strange rounding by the LSE site.

24-May-23...17:22:36…95.05…2,715,723…Unknown*…93.65…94.15…3m…O

24-May-23…17:22:36…95.05…2,315,772…Unknown*…93.65…94.15…2m…O

They were obviously worked over through the day so impossible to tell if buy or sell but again given there are two sides to a trade that’s pretty amazing liquidity for this mcap!.

One of our problems is insti’s decarbonising their pf’s. Mostly out of ignorance and to just avoid ‘confrontation’ rather than having any strategic investment for the greater good. I hold PHNX and they just released some ‘green’ guidance. It pretty much sums up their myopic views. I posted my response on the BB there.

Futures are up a tad today. Imagine DEC finishing blue on xd day. Just to add to your earlier ironies! Lol!

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Trek

Good luck with ZPHR. I decided against it as non standard drills have a habit of going sour costing more. I only hold TXP now in that space.

Looks like all our gains being wiped out here. Gas is up though as is oil on Saudi threats to cut prod to burn shorters and also US inventories low.

I am holding as last couple of times they agreed the debt ceiling at last minute and markets bounced. Hoping history repeats!

Getting tired trading so bar a couple of exceptions just holding solid income now so can enjoy the summer!

God luck

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Trek

Obvious some propaganda but the queues of cars leaving Belgorod look genuine, 5 mins in. They will have to go somewhere!

Also they claim to have taken the tactical nuclear facility but ‘Putin’ 🖕 says no weapons in there.

https://youtu.be/TnutZwu39hQ

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Trek

Broom, ftse, dax and cac are all down around 1.7%. Dow futures are also down over concerns about debt ceiling.

So irrespective of the divi we are caught in the same tide. Likewise when/if the debt ceiling is resolved there may be a market rally which could have a more beneficial impact on energy stocks. May even include DEC!

But hey it’s nice to just ride the peaks and troughs while we get a solid income to look forward to. The 4Q22 and 1Q23 divi’s have both been declared so that’s approx a 6p cushion after tax for those that hold in an ISA.

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Trek

PHNX decarb plan

https://www.insurancebusinessmag.com/uk/news/environmental/phoenix-group-unveils-netzero-transition-plan-446926.aspx

Think these insti’s miss the point but would rather avoid bad press than really make a difference in decarbonisation. Selling carbon investments and chasing low carbon investments is not the route to decarbonisation. E.g. what’s the point in shunning North Sea gas and then importing it from USA and Qatar and firing up coal when the wind don’t blow or the sun don’t shine and you can’t hook up new energy to the grid.

But hey it gives investors a good feeling and you get a ESG badge!

Meanwhile in 2021 China built more than 3x the number of coal power stations than the row combined! The numbers in China and India are staggering and make a mockery of the Wests ESG targets.

Could go on debating the benefits for and against.

But the point is energy and green technology needs to be distributed especially to Africa that have missed out on the quality of life that the west have benefit from from carbon.

The problem is much more complex than don’t buy this and buy that or don’t invest in this but that’s ok. I get you gotta start somewhere but pushing the problem elsewhere just to tick a box so we can it’s not our problem is not good enough. We should now be looking beyond that to support and encourage others on their energy journey from poverty.

But the consequences of climate change affect all!

Meanwhile I open a new shirt that was gifted to me from Next. Plastic packaging, cardboard inserts, plastic neck support, pins, unnecessary labelling! Took ages to open! I haven’t even bothered to look where it came from. No need to anyway as they have an ESG rating of B.

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Trek

I think it’s a simple case that the delays have resulted in additional unforeseen protracted costs to Exxon. Hence they possibly said. ‘Hey, let’s keep the deal structure as is but for this extended delay we want to take a cut to offset the unforeseen costs due to the delayed divestment.’

SEPL being a good partner and having zero to loose other than causing Exxon to have a rethink agreed. So they are sharing the next bit. Takes the pressure off of Exxon and also underlines the partnership commitment.

Puts up another barrier for state hegemony, makes it more likely that to secure the assets you have to buy SEPL.

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Trek

“ Proceeds from the exit further strengthens Duke's balance sheet, enabling deployment into its pipeline of new investment opportunities”

Further strengthens, not bolsters or strengthens but wtfdik! I didn’t think there was an issue with the balance sheet as hinted on BB’s.

More so the sp was likely down on interest rate/Corp tax rate and other macro impacts on businesses. At least energy is now cheaper and they should be able to fix at low prices..

As duke has come this far with a full book I think they are through the worst of it!

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Trek

Director sale of 250k. I note the market took them all in one hit! Also he still has +2.9m shares!

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Trek

X Divi pull back is pretty short lived to non existent here! That’s nice!

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Trek