Bradda Head Lithium exceeds targets, secures US$3 million royalty and moves closer to production. Watch the video here.
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HITS: re the extra hedges, they’re at very much higher prices. I can’t think of a reason for having these. Whose price is protected? They had two sets of hedges, one of them with a price set at something like £4, before the Global re-financing. I didn’t understand those, either. I do wonder if the forward contracts after the re-financing priced in the 70’s might be purchase contracts in case the gas price really takes off at a time when they may fear their gas flow will be insufficient to meet the terms of the forward sales contracts. I’m hoping we may get some clarification of all this from someone. Also, we haven’t seen the full terms of the new gas offtake agreement and the “embedded” price protection they involve. Do you think these new hedge contracts are what they mean by “embedded price protection”, or is there some additional feature to the offtake agreement that we don’t know about?
Whatever the drop, it is about equal to the decline being shown in the daily production, so pretty much cancels out any supposed advantage, unless they actually do the darn works required to counter the liquids induced production that limits free gas to flow to surface.
The Ocebot claims that the hedged quantity is dropping from 30/06. It is of course entirely wrong. There are now in fact three sets of hedges that apply to the Jul-Sep 2024 period at varying prices, as per Note 11 of the half-year report. These total 7,430 million therms for the quarter, or c. 2,475 m therms a month.
But then again, when did Ocelot ever let truth get in the way of the narrative he/she/it desperately and eternally attempts to spin?
Hedged volume declines from 1.5m to 1.25m therms from 30/06, boosting their revenue.
Expecting a letter from Jarvis any day now .
I can certainly pick them .
I wouldn't worry. This BB's most gifted psychic, Mystic Meg Onetomany will be along some time soon to tell us all that "L2 is looking very strong (7 vs 2). Expect a blue finish."
Even balancedviewer gave up trying to ramp this after 3+ years and 5,000+ post of abject failure to do so. Mind you, I don't fancy his chances in his latest project of trying to polish the possibly even bigger piece of poo that is UKOG.
GL cleaned out the company and RH has been whitewashing his dirty linen. The scars are apparent in the accounts.
The company can barely meet its bills and any change is going towards lifestyle. Talk of acquisition is cheap considering they have no money to spare and the share price is on its knees.
An hour after the drop in the share price, the explanation has just been reported, a sell of 10m at 10:31 at 0.301p.
Given this company's share price is now less than it was before they drilled the new well . I have to question the wisdom of doing so as it appears the company is being run on behalf of its managers and creditors. the Pi s are just along for the ride
It was very good. And on the seventh day ...
22-Jun-24 0.1652
23-Jun-24 0.1702
24-Jun-24 0.1522
25-Jun-24 0.1627
26-Jun-24 0.1718
27-Jun-24 0.1719
28-Jun-24
29-Jun-24 0.1689
Was it a good SATURDAY night last night mullins ???
Up we go !
Well that was an ermmm exciting day ehhh, 8m shares traded, £30k worth, from 4.4 billion in issue, topping up/averaging down is all well and good, but the reality is it ain't what you pay for em really matters, it's what you can sell em for !!!
7v3 so heading for a very strong finish.
'EBITDA is considered to more accurately reflect the performance of a business'
What utter nonsense; when you have high interest payments and a depreciating asset you have a share price in decline...
"For sure it will close strong."
Mystic Meg Onetomany still hasn't learned the lesson from his last utterly farcical prediction from late Jan this year, when he said (and doubled down on) "The ANGS SP will be at least 1.5p by the end of March 24".
Rather than achieving the trebling needed for that ridiculous prophesy to come true, the SP has actually lost 40%. I'd suggest just a smidgeon of caution when listening to this investing genius.
For sure it will close strong. Playing games only. Richard was upbeat in the last email received and these results are amazing. Gas at 120 in the not too distant and revenue enhancing acquisitions seem to be only weeks away.
The financials looking very very good when you consider hedges that are dropping and the higher gas price and, of course much lower debt costs.
May be possible today ;-)
GLA SR
For the present, Brockham continues to perform well, in its modest way:
"After a period of flow to clean-up the well, it (Brockham) is back online producing c. 120 bbls/day of total fluid, of which 40% is currently oil".
And Lidsey is mentioned, too:
"The Lidsey Field has been shut in during the period, waiting on the resumption of Brockham production in order to evaluate options for combined operations".
The loan payable is shown at 31/03 as £18.75m and not £20m, note 10 explains why: the first year's scheduled repayment of £1.25m has been made.
Wanted them at 0.35 but hey ho … Directors buys following
Placed even …
Just lanced an order for another £7k. Can’t seem to get them easily.
... that’s 7.5mm therms of new hedges.