More churn needed from Majedie before we can see where our natural sp should be. Each 1% = 35m sells. With no buyers right now (why would there be?), would like to see us buoy well clear of 1p+ on natural trading. Outside of any other newsflow of course
I should bl**dy hope so! They announced a formal sale process of their TZ assets on March 2, and have then conveniently forgotten about it. They don't have the Dyas deal to work through, or any other operations to bother about, and yet they can't pull together an Annual Report within 8 months of year-end? It should be a grade school exercise, since nothing happened in those 12 months.
Too busy waiting for that white knight to come galloping around the corner I suppose.
I'm invested in another company in the US, looking for gas, which just operates in a different world. Permit to drill issued on May 15, rig sourced on May 27, well spudded on June 17, reached target of 2354 ft by June 22, rig now mobilized to next prospect.
It doesn't need to be this agonizing!
Oh FFS. What this says is they have no money to fund the drill. It also says dilution is coming. Probably lots of it. Take off the rose tinted glasses.
Leo and team have way too many shares to simply throw a tantrum and walk away from the company. He'll be forced to negotiate something new for his own sake if not PIs. No doubt he can do better than this!
By far the shakiest I've seen Koot. He was also nonsensical at times. CERP standing still? Don't we have a 'transformational' appraisal well coming up next month? Been negotiating with BPC for over a month? Does he mean when BPC's share price was 1.3p, or nearly a third of it's deal announcement price? No clue or opinion on whether BPC will farm down it's holding? *******s.
We all know AIM shares are for risk takers, but this feels like at best wilfull blindness, and at worst, stock market manipulation.
The well is ‘funded’ via convertible loans from a Bahamian investor. There is almost no cash.
The ONLY way this deal is digestible to me is if BPC can farm down a chunk of the asset. Way too expensive and risky for a minnow like them.
There are lots of deals to be made right now. I always took Koots to be more the hammer than the nail. Small but clever. But was wrong. A life buoy for BPC, which they'll need because their funding strategy, via messy convertible loans, is pure trash.
This will be a NO vote from me. Partner, pricing, and timing is just off. Way off.
This is a dog's breakfast of a deal. Why spend all that time re-positioning only to sell low to a sinkhole of a company like BPC. He then sacks his mgmt team and take a seat on the board. Reputation shot.
Merger with solo makes no sense. They have no CF and have a mgmt team in place with the chops to focus elsewhere.
WEN is a nice little company with CF and cash in bank. Problem with it is that it’s a value trap with a sp stuck in the mud, no mgmt team, and (seemingly) no ambition.
I don’t like the idea of doubling down on TZ right now, but it’d form a stronger company from which to expand in due course. Dilutive for sure, but also instantly accretive, esp when you look at WEN’s shockingly low enterprise value.
...from the markets. CERP should be screaming higher today on the back of the US job numbers and huge jump in WTI.
I’m expecting SOLO to announce a sale of its Ruvuma assets soon after the farmout is finalised. I give it a 95% probability it goes to ARA. I’m also expecting the sale price to be lower than many here have suggested. Only upside is SOLO will have cash in hand to pivot quickly on a deal aligned to their strategy.
Lucky then for STA it’s no longer an O&G company.