Member Info for whimax

Joe Bloggs should maybe take ownership of his own portfolio and decisions, instead of constantly moaning that his shares are not doing what he wants them to do, rather than what it said on the (baked bean) tin (i e this is AIM, high risk, high reward, and prices go up as well as down).

Joe Bloggs seems like a bit of a child who likes to stamp his feet and shout at everyone when things don’t go his way.

Don’t be like Joe Bloggs!

Sell what you have and buy them back later then 🤷🏻‍♂️

You can sell now for about 14.7p. If you’re so sure they’re going to 14p, that’s you reduced your own personal dilution by about 5% right there.

But you won’t, cos you’d rather spend your day moaning about it lol.

You can avoid your own holding being diluted by increasing it by 9.7%, at around the 14p mark.

IIs are not interested in SP direction or SP predictions Ianfer, they are only interested in a risk free (or as risk free as possible) investment or trade. They were probably told/asked about the placing several weeks ago so will have forward sold shares they already own at 15-17p and will use those funds to purchase at 14p.

Similarly, if the SP goes to 18-20p after the placing and prior to an Anchois news updates, they will more than happily sell the whole lot (given the opportunity) and never look back.

Inafer you said “ If the sp moves upwards shortly it will probably be because of a positive announcement. But why would there be a placing and rights at 14p if the sp was expected to move skywards?”

Unfortunately that’s not how it works.

The simple answer is, there ALWAYS has to be a potential catalyst to persuade/encourage institutions to invest. Where is the incentive for them to invest AFTER news and when the SP is significantly higher? There isn’t.

Tell me the last time an AIM company did a placing AFTER they had announced a significant SP catalyst? I save you the time and the effort………..you won’t find one.

Zzzzzzzz

7 wells in 18 months, starting at the end of this year.

https://twitter.com/chariot_energy/status/1680897237931421696?s=46&t=CfuFJqRZzpmW0bqPoYobnQ

I must confess NewK I sold my placing shares on Thursday at 15.7p. The funds will just sit in my account until I get them back at 14p in a few weeks.

It wasn’t many, but the difference was enough to take the mrs out for a dinner and few drinks last night.

Small wins lol.

See what I mean?

They’re not Xe123. It’s just 1 person, with nothing to do all day other than troll others.

No research, now information sharing, nothing relevant to add, just a broken record posting the same lines day after day after day.

KB - “He states within his article - "I can now reveal that an announcement will be made shortly"

Can you really, if so how? 🤔 “

Because Chariot told us in the RNS about the placing. He’s changed “imminently” (from the RNS) to “Shortly” (his definition of imminently).

Just retweeted by Chariot.

https://twitter.com/chariot_energy/status/1679136440310026243?s=61&t=n_2hkWpElgdgvzOpn_RbHg

Chariot (CHAR:15.3p), an African-focused energy group developing and delivering transitional energy projects, has raised $15mn through an oversubscribed placing of new shares at 14p. The goal is to fund a drill programme on a new onshore Moroccan licence and for working capital. On the 11 July 2023 record date, existing shareholders are entitled to participate in a one-for-58 open offer that will raise an additional $3mn. I would certainly take up your allocations by the 31 July deadline.

As I noted a fortnight ago, the directors are in the final stages of selecting a farm-out partner for their flagship Anchois gas development project in Morocco. I can now reveal that an announcement will be made shortly, which could materially provide the financing of the development capital to first gas and significantly reduce the risk of dilution to shareholders. I can also reveal that investment bank Societe Generale is in ongoing discussions with a consortium of European and Moroccan banks which have “indicated their appetite to provide debt finance.“

“Mulder is back?! Bitterness overwhelmed them and had to come out of retirement, sad”

At least this time around he’s got someone to ‘recommend’ his post, what with NFTs being around and all 😬

I’m sure if he fancies a few years at His Majesty’s pleasure that would be a good way to go about it, right enough.

Look, I’m not adverse to a bit of critical thinking, but……

Starbanker1, I’m not sure I understand either the rationale or the meaning behind your post?

Why would AP want to give someone/an entity 9% of Chariot at 14p, dilute his own holding by that amount, then want to accept/force through a lowball offer for the business?

Apologies if I’m missing something obvious, but that seems nonsensical. AP is many things, but stupid ain’t one of them, and neither is he in the habit of accepting lowball offers (something which we have actually found out to our cost in previous farm-out negotiations).

Also a possibility that granting of the on-shore licence may have been dependent on ‘proof of funding’ to progress development immediately. The numbers kind of fit $3m x 4 wells plus planning and peripherals?

Farm-out has/is taking longer than hoped (possibly due to farminees playing hard ball on up front payment as mentioned last night) so proof of funds maybe had to be dealt with this way.

Bit painful, but that’s AIM for you. If it ultimately bring productivity forward, I won’t argue with it.

I don’t believe the “new onshore opportunity” is to be purchased. As below, from the RNS, it will be a license award (by the Moroccan Govt). Yes, there will be drilling costs (I don’t know how much it costs to drill on land in this area, or depths etc) which Chariot may or may not end up going it alone on, and also development costs, and some other “commitments” but we’re not buying it.

“The net proceeds of the Fundraise will be used as follows:”

For near term onshore drilling and development planning on a new onshore Moroccan Licence, expected to be awarded imminently;”

Agreed redeyemines

“ Our overriding objective remains to build further value for shareholders and we are therefore looking to raise funds for a new licence onshore Morocco as we continue to expand our strategic footprint in-country. This licence will give Chariot near-term drilling opportunities with the potential to accelerate Chariot's timeframe to first gas. The acreage shares geological similarities with our offshore assets so we benefit from unique insights on existing 3D seismic and on-block well data and have already high graded targets for a first phase drilling campaign.”

I’m sure he’ll be in awe of your invaluable and constructive input, just as we all are here.

Wow, imagine that. Share price going Up and Down (traded) while we wait for news!! 😱