Member Info for whimax

Nicely put olderbutwiser.

Not sure Snott, but if they can trim their original time line by 6 months (or a little more) that puts us H1 (or at worst Q3) 2023 which psychologically is a massive difference, as all of a sudden we are talking about ‘the year after next’ for production. Doesn’t seem that far off when you put it that way :-)

What I don’t understand is why the MMs don’t try to create a market in these circumstances?

Nobody is selling at this level and it doesn’t appear that anyone is building a significant position, (volume is still very low) so why not raise the price and try to temp profit takers? MMs can’t be making money on this trade volume, so I can only assume they are content to try and accumulate what the can at this level and make their money later on next news, at a higher price?

Normally the ACTUAL spread is much small than the advertised spread, but at time of writing MMs have gone 9.18p Sell and 10.25p Buy.

That’s a huge spread of 12.5%

Desperate stuff by the MMs. Get them while you can guys. ;-)

Not sure if you still look in here, but as respected long term (previous/existing) shareholder I’m interested in your current/revised assessment of the situation.
Have the recent RNS’s changed you views on funding requirements or short/medium/long term views for Chariot?

ATB.

Jacob, I really think you’ve had your day here now. This was your post on 2nd February, so everything you post beyond that is utterly transparent :-

“I had to bail out today, I think i gave Chariot enough time and then some.
My covenant was 6.7p and i said all along should this be breached and true to my word, i bailed.
Burdened with a £1000 loss from Chariot i am looking into pastures new”

I’m not sure what your entry point was back then, but so far you’ve missed out on almost a “full bag” by the looks of things. I suggest you either buy back in quickly, of f-off, because with each post and passing day, you look like more of a twat.

GL with whatever you decide.

I’m not reading too much into this, if I’m honest. Not wishing to remove the wind from any sails, but this would be far more relevant if we hadn’t already had the Subsea RNS. Or am I missing something?

Also, with Subsea’s contacts, network and size, it may be that they are able to “procure” at better rates than Chariot. They may end up earning back a %age of any savings that Chariot make, as part of the deal.

Snott, I wondered if it was the other way around ie. Chariot introduced Subsea to our EOI proposer? It would make sense that if Subsea are dealing with front end design, engineering, procurement, construction, installation and operational requirements, that they have direct access to the the finance for it, rather than adding an additional cog, requiring Chariots involvement at each stage of the process.

As I said yesterday, now is time to ignore the share price more than ever. The more news comes out and the more the company is derisked, the more games are played.

GL

Do we think this Subsea loan facility is from the “unnamed” second EOI party alluded to in the RNS on 28th October, which has now been ‘taken up’ by Subsea?

“In addition, Chariot has received a non-binding EOI for the provision of Reserves Base Lending for the development of the Anchois Gas Discovery with a Multinational Investment Bank.”

I made the point yesterday that as news increases, I would expect Seller(s) to reassess (as everyone will) so would not expect all 45m to necessarily be sold.

On the face of it looks like we have a Seller, however the current ACTUAL spread is 2.6p to Sell and 2.65p to buy.
First time I’ve checked this morning, but if it’s been like since open, it’s more likely we have a Buyer.

Just saying.

Think we’ve touched on this before but what’s everyone’s thoughts on the running order of news?

Imo, it would make sense for the next news to be off-take agreements with Publicly (or privately) Owned energy companies within Morocco, following yesterday’s MOU. This would be a fairly “risk free” quick win for everyone as there is no “up front” money involved, however, it would offer potential Farm In Partners, Funding Partners and Drill Partners peace of mind, regarding future revenues, and would significantly derisk their “investment”.

There will obviously be many updates but the real major ones are :-
Off-Take agreements
Funding Agreement
Drill Partner
Farm-In partner(s) (if different from Drill Partner)

......possibly in that order?

Lol, there’s that spread again 8.5p to 10p. Come on MMs, try something original.

I agree about CB, Aberdeenman.

My point was more along the lines of ‘what had been done/achieved with regards to a “plan” prior to Anne taking the reigns’. If Chris had already put something together which Anne agreed to roll out when she took over, then I’d say ‘Yes’ she probably has had enough time and she should be telling us more, and soon. However, if it was up to her to start formulating the plan from scratch on 7th December when she started, then it’s no wonder we haven’t heard any of the detail, and I wouldn’t have expected to at this point( if that makes sense?).
Bottom line is, we don’t know, so I feel we should be cutting Anne more slack than some on here currently are imo.

I agree re the vision Aberdeenman. And that is vitally important, but it’s not always possible to just come up with a plan and implement it, particularly when you are relying on 3rd parties and their Cooperation to close a deal.

It feels like a few on here just expected Anne come in and immediately lay out the steps that would take us to a deal. If it was as simple as that, Chris would have done it before Anne arrived, and she’d have come in and implemented it. Nuformix has gone through a huge amount of disruption (some self imposed, so out with their control) so the biggest win for me in H1 2021 would be a bit of stability and no more nasty surprises. I can wait for the rest, because I think it’ll come, it’s just a question of when.

Aberdeenman, she doesn’t really need to come out fighting. She’s been in the door 5 minutes, so she needs to do is deliver the plan that presumably her and the BoD have/are putting together. If she does that the share price will take care of itself as the pieces come together.

Believe me, I understand the frustration, but nothing in the Pharma industry ever happens quickly. My other biggest holding (not pharma) Chariot Oil has finally come up with a plan that will hopefully make my 10 year wait (yes 10 years) worthwhile. I’m sure Nuformix/Anne will do the same but there’s little point in firing ultimatums and instructions at her through an investor chat forum. It’s counterproductive especially when it looks like we are about to start seeing some news flow and potential new investors are looking in.

This has happened before with Chariot RNS’s recently. Seems to take the market a few hours/days to catch on to what’s actually happening then it starts to move.

MMs clearly play their part at the opening bell tho. It almost always goes into Auction, then they widen the spread to try and kill the rise, then they try and walk it back down. Volume is still relatively low (although has picked up a little now) but there’s a tipping point coming some time soon imo, where they’ll not be able to stop this running away.
There’s virtually nothing in free float, so it’s not going to take much of a herd to start a stampede.

GL all. This is getting very exciting now.

Now is the time to ignore the share price movements more than ever before imo.

This has been in the doldrums for a very long time and will take time to gain traction, even with good news. In addition, what ALWAYS happens, is as the company becomes more and more derisked, those with the real money decide they want a piece, and that’s when the real games begin with the share price. I’ve seen it happen 100 times before.
Try to ignore the share price (for a bit longer) and concentrate on the fundamentals, which are hopefully about to get much stronger as more news is released.

GL