George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Looking at the trades (and I only have a limited view) I’m going to suggest that the drop in SP has nothing (or at least very little)to do with the Farm In terms/deal.
Yes, some traders will have bailed, because that’s what they do on news, but It could also be argued that (although volume has been low) someone has been drip feeding sells over the past 2 weeks. If this is a “distressed seller” it stands to reason they will have taken today (a guaranteed high volume day) as an opportunity to ‘go for it’ and dump as many as possible, at any price (within reason) and just get out.
Someone mentioned earlier about the 100k blocks. These are ‘O’ trades so not the AlgoBot, and they started right on the opening bell, suppressing the price and stopping any upward momentum in its tracks.
The Farm In deal is an excellent one IMO, so I would have expected big buying today off the back of it. Unfortunately someone had other ideas. When they’re finished, we’ll see some upwards movement imo, especially since we know that the On Shore drill will start turning “early in the New Year”.
GL all
Happy, I get the point you’re making, but why would AP let that happen when he just said in the webinar that they had had approaches for the company, and knocked them back.
He knows the value here. It’s not just a case of someone “taking them out” simply because the SP doesn’t reflect true value.
Oh, and don’t ever let anyone ever tell you that the stock market isn’t rigged. What we are seeing this morning on here is off scale in terms of manipulation. Disgraceful.
The first question earlier was mine, about the “muted reaction” to the news. They didn’t read whole question, but hopefully I made the point I was trying to, and the BoD will take notice.
Excellent webinar, almost completed derisked now. Im now 100% relaxed about my investment here. If funds allow I’ll buy plenty more at these prices, as quite frankly, 12p is farcical for what we have and where we’re going.
Those who aren’t yet convinced should sell and move on.
30% Retained
$850m for a further 10% if they want it 😊
Energean to acquire 45% and 37.5% interests in the Lixus and Rissana licences respectively, and take operatorship of both licences
· Chariot will retain a 30% and 37.5% interest in Lixus and Rissana respectively, with ONHYM maintaining a 25% stake in each licence
· Chariot will receive:
o US$10 million payable on completion of the transaction
o US$15 million payable on Final Investment Decision ("FID")
o US$85 million gross carry including:
§ All Lixus costs up to FID, including the additional Anchois well with a gas flow test
§ Planned Rissana seismic acquisition costs separately capped at US$7 million
· Following completion of the Anchois well, Energean will have the right to acquire a further 10% of Chariot's equity in the Lixus licence for:
o US$850 million gross development carry to first gas (including the US$85m gross carry)
o US$50 million 5-year zero coupon convertible loan note with a strike price of £20 adjusted down for dividends or issuance of three million Energean shares, at Chariot's option on FID
o 7% royalty payment on Energean's gas production revenues in excess of a base hurdle on the realised gas price (post transportation costs)
· Energean's carry of Chariot's costs is non-recourse, and has a coupon of 7% over the one year Secured Overnight Financing Rate (SOFR), with the carry including interest repayable from 50% of Chariot's future net sales revenues from the Lixus licence
Ianfer, I think we’re all a little frustrated/disappointed that the Farm In is taking longer than hoped/planned for, however kingbilly has been posting the same stuff, day in, day out, ad nauseam for almost a year now.
In addition, and at the same time, he’s attacked respected posters for sharing their invaluable research, and has ultimately driven them off the BB with his rubbish!
His latest post is case in point. He takes a pop at Jimmy for posting relevant info, calls him a “happy clapper” (or something else from his pathetic repertoire) then has the brass neck to ask him “for his thoughts”. You honestly couldn’t make it up. The guy’s an absolute headcase!!
Well stop watching then ffs!! 😂
Honestly, you’ve no idea how pathetic you look/sound.
If you don’t like it, sell and leave. If you can’t watch, switch off and go and do something else. But for the love of god, stop whining, moaning and greetin!!
Oh, and now we’ve got your alter ego on, wondering where the positive posters are, to help you feel better about your investment. Couldn’t make it up 🤡(s) 😂