Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Hi Gooner,
I think your post needs qualified. Some of us have “had patience in abundance”. Others (and I’m not pointing fingers here, honest) like to think they have been patient, but in actual fact, all they have actually done is constantly moan about why it’s taking so long, while they impatiently wait lol.
Lol, more of the same from you I see kb.
It’s actually hilarious that you’re having a pop at me for turning a placing into a profit, when here you are, stuck in the only share you’ve ever owned (for a decade and a half), and you’re still sitting on a big fat loss 😂😂
I’ve had a few duffers in my time, and a good few winners, but at least I’m in the black here.
Keep up the good work mate 😂
Logorrhoea ;-
In psychology, logorrhea or logorrhoea (from Ancient Greek λόγος logos "word" and ῥέω rheo "to flow") is a communication disorder that causes excessive wordiness and repetitiveness, which can cause incoherency. Logorrhea is sometimes classified as a mental illness.
Guessing a bit here, but I think each broker will be allocated a set amount of shares at the outset, based on the number of shares they currently hold for existing clients. This means that “over subscribed” %ages will vary depending on basic uptake (1 for 58) and how many people request over subscribed shares.
Exactly Nick. There was a slight risk in selling your allocation prior to the resolution being passed. But now it has been, those selling this morning at 14.7p or above are making. 5% profit on shares that they will receive tomorrow for 14p.
I posted this last week when I sold my allocation at 15.7p (or their abouts). Slight risk then, but this resolution was never not going to be passed.
Gooner, that is what I was suggesting could be the case. All todays posts are speculative (at best) and really just options/opinions/possibilities.
I suspect Chariot will not go down that route, as that would be a significant deviation from recently communicated timelines for Anchois, but it is possible.
Also, good luck telling KB and Smyth that the SP might go down (perceived delay) before it goes up. Can you imagine the number of “jam tomorrow”, “happy clapper”, “JD and Gender Jokes” and “soon/imminent” posts we’ll have to troll through before we get Farm Out news 🥴
Yeah, I think we’re in agreement. It’s risk v reward as always.
Because of the Geographical Similarities, would a “miss” derail or be more detrimental to existing negotiations on Farm Out, then a “hit” would be viewed positively on future negotiations. Bird in the hand, all that lol.
Surfit, no, not really, more that the 3D already shot on the new license would/could simply add even more validation and confidence to potential Anchois/Lixus Parners. Again, in the paragraph I posted from the RNS in response to BDC, this adds validation because the new licence is “geographically similar” to Anchois. Might be worth a an extra 5% retained by Chariot on a Farm Out? Just guessing there tho.
Hi BDC.
I think my concern would be, what if they drill and miss? This section from this mornings RNS could be construed as both positive and negative during and on shore drilling campaign imho.
As a layman, if the new license is “geologically similar to Anchois” and the first 2 onshore drills “miss” what does that do to farm out negotiations?
“overlooked, shallow, conventional gas play, which has already produced gas in other areas onshore Morocco, and which is geologically similar to Chariot's offshore projects including the adjacent Anchois gas discovery”
BDC, I don’t think Chariot will, or can afford to either wait that long, OR take that chance. More likely the signing of the Farm Out has been delayed slightly, until this license was awarded, as the 3D has more than likely validated, even further, Anchois/Lixus.
Possible Surfit, but I think unlikely the bank would require Chariot to obtain a new licence which may or may not come into production before the one the funding is actually for. If the Bank are lending money for a project of this size, it is on the merit/basis of that asset, and on their assumption that it’s a stand alone safe investments.
Also, re market reaction, the market will react when the deal is signed (in whatever format that will be) and the uncertainty of it NOT being signed is removed. At the moment there is still uncertainty, and, as discussed before, institutional investors will really only get involved when there is zero risk, even if that means waiting till SP has doubled. As long as they know it will double again, they don’t care.
Surfit, IF “the banks” (or anyone else for that matter) lend Chariot money for Anchois there will be very strict guidance in the contract as to what that money can be used for. Unauthorised use of funding (if that what you are suggesting) would/could result in funding being withdrawn, along with severe penalties.
Banks will also only be “lending money” for Anchois, on the basis of due diligence on Anchois. IMHO
A new research note from Cenkos today. The firm state: “The combination of significant near-term newsflow and upside to our target price makes for an attractive proposition – BUY”. Cenkos have increased their TP to 65p (from 60p), a c4.3x the current SP.
https://twitter.com/chariot_energy/status/1686268288228012034?s=61&t=n_2hkWpElgdgvzOpn_RbHg