Member Info for whimax

That’s a new record for me. Filtering someone after their first LSE post.

Big News must be closer than I thought. 2 loonies in one day lol.

So the only financial outlay of £90k from Chariot coffers. Everything else is in shares. The number of shares will depend on the share price at the time, so the higher the price, the lower dilution.

This acquisition is, at worst, wiping its face, but is actually more than likely turning a profit and will very quickly imo have other parts of Chariot business as customers so will increase profitability further.

Yes Redeyemines, Deferred $0.75m, but payable in shares!!

“Initial consideration payable on completion of the share purchase agreement is US$1.16 million in Chariot Ordinary Shares based on the 30-day VWAP prior to the signing of the SPAs (representing 9,196,926 shares) and US$0.09 million in cash which will be funded from Chariot's existing reserves. Deferred consideration up to US$0.75 million, is payable within a 24-month period dependent on certain project pipeline targets being met as well as the retention of key members of the AEMP team. This deferred consideration is payable in Chariot Ordinary Shares based on the 30-day VWAP prior to the signing of the SPAs (representing a maximum of 5,946,288 shares).”

Redeyemines, the deferred payment of $0.75M is payable in shares, so no cash drain there.

Also, the only movement I’ve heard the BoD mention in terms of Morocco timelines is to fast track it. Even today in the video it was said 2023 for first production in Morocco where as previously 2024 was the target.

All good imo.

Agreed re issue of shares. AEMP will be delighted taking shares and gaining exposure to Anchois.

Couple of points tho. It’s “Up To” $2m and “Primarily” in Chariot shares, so imo it is probably 12m(ish) shares at 10p each and the balance (if there is any) in cash when it is available to Chariot. So a very small (4%) dilution and buttons in the large scheme of things.

Really great deal for all parties imo.

Absolute No-Brainer for Chariot this imo. Not only is it currently paying for itself (so staff costs not an issue and not a financial drain) but Chariot has a footprint in 17 countries in Africa so will effectively become one of its own biggest customer very quickly. 1+1=3 (or 4, or 5,........)

“ AEMP currently recovers its overhead costs as part of the partnership providing an immediate post-acquisition revenue stream to finance ongoing costs.”

I honestly can’t figure this out lol.

As I write this CHAR has gone into Auction for the 5th time today! How does a company with 388m shares in issue, go into Auction 5 times in a day (might be more but I’ve seen 5) off the back of 23 trades totalling 650k shares? It just doesn’t make sense, or am I missing something?

I could understand it if we were getting a load of late reported trades every day, but thats not happening. Baffling!!

P.s. News this week imo. :-)

MCap just £16m. £2m per year for how long?

Can we now apply a PE Ratio to NFX? What should it be? 20?

Any ideas?

Nice to see some exposure, but a little disingenuous to say “after years of” when we only got the license in April 2019 (less than 2 years ago).

I remember reading half-assed reports like this in the ‘Namibian Herald’ (or whatever it was called) back in 2008 lol.

Thanks Moggy. I don’t have LSE premium so can only see one page of trades. 15.30 is further back.
My bad. Happy to be be wrong.

Really? Was it yours?

1m sell from earlier just popped up. Nice to get that away.

They haven’t got them yet lol.

This is rather odd, to say the least. If a deal is coming, do we need a placing at 2p? Could be at double that come Tuesday. Is it conceivable that placing could be pulled if deemed surplus to requirements.

Almost 3 weeks since last update. I’m expecting something early next week.
Off Take Agreement?
Drill Partner?
Farm Out?
Resource Upgrade?
New Venture?

Could be any one (or more) of the above. Progress will be being made and news flow stacking up imo.

GL all

Hi again Archie. Just spotted your reply.
MMs are pretty much a law unto themselves so we’ll never know, but price could be held back for a couple of reasons. Either they have committed to fill a large order at a specified price OR they are just accumulating shares for themselves to sell at a much higher price when the expected news comes.
MMs are a greedy bunch of bar-stewards so putting the price up and giving PI’s the option of a modest profit is only ever done as a last resort.

It’s hard to tell what’s going on here. Volumes don’t suggest a large order, but that could just be that are literally no sellers to facilitate it, but the advertised spread versus actual spread nonsense is 100% designed to discourage buyers imo.

Hi Archie. It’s not always as straight forward as looking at the buy v sell numbers. If you look at the trades above, they are all showing as sells, but because of the spread (and all trades going through under the mid point) they all show as Sells. The one at 10.33p is actually a buy for example.
The converse is sometimes the case for what looks like high volume Buy days (many of these are actually sells).

Having said that, the MMs are taking the absolute rip here just now imo and using every trick in the book to discourage buyers and keep a lid on this, simply because they have no access to any stock.
I’m not sure how much longer they can hold it tho. They’re going to have to let this move up soon imo.

GL

MMs at it again this morning. The Advertised Spread is an absolute disgrace at 20%

Actual Spread is 9.9p Bid 9.95p Offer.

MMs are desperate. I’m also convinced this is to assist IG squeeze every last penny out of their “customers” before SB’s on CHAR have to be closed at the end of this month.

Disgusting behaviour!!

He’s also presented an opportunity (yes another one) this morning for people to “get out” if they so wish . We are now back where we were before the placing was announced so now’s your chance folks. I suspect FOMO will continue tho, and moaners will continue to moan, rather than quietly make their exit.
Finally, the jealous ones who are having a pop at Myles McNulty for “being able to get in at 2p” could also have “got in” or topped up at 2p 2 days ago when the placing was announced.

GL all.

MMs on this from the get go this morning fishing for stops while in Auction.

Big news must be getting close. They’re getting desperate and not even trying to hide it any more lol.

And 10.2p to Buy. Quite the spread!!