Bradda Head Lithium exceeds targets, secures US$3 million royalty and moves closer to production. Watch the video here.
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"If Angus want to make the most of pie in the sky 9 months away futures prices, because all that really counts is NOW, ..."
Bubblepoint,
Your "pie in the sky .... futures prices" are the prices being negotiated NOW.
Do we know why the volumes continue to yo yo as much as they do I know we have planned maintenance on a Thursday but the range seems to vary from 0.16 to .21 and anywhere in between which seems quite a large variation. obviously volumes will drop over time but this movement all seems quite short term and moves both up and down?
""Yep, the trend is on the up.""
A shame same cannot be said for volume, less than £3k worth traded ALL day yesterday, and the flow rates are hardly a screaming buy either.
If Angus want to make the most of pie in the sky 9 months away futures prices, because all that really counts is NOW, then they need to be getting those workovers for velocity strings done and get on with drilling that next well !! SURELY !!
Yep, the trend is on the up.
10-May-24 0.1835
11-May-24 0.1838
12-May-24 0.1776
13-May-24 0.1889
14-May-24 0.1885
15-May-24 0.1833
16-May-24 0.1816
17-May-24 0.1823
18-May-24 0.1795
19-May-24 0.1554
One of them was an uncrossed trade!!!
Wow, 1 trade all day and reported as a sell over 0.4, makes it look even more likely that the late trades were not sells.
Can't wait for a bit more news, this could use some volume now. Seems no one wants to sell, but also no current buying pressure.
Good luck holders.
I'm not sure, but wouldn't be surprised if they were both buys, I think they may have been gathering shares over the last week to fill. These big orders they had and now it's done the Sp will move again. I think they had them filled earlier today which is why we saw a bump up with the last few buys today.
So what's the verdict on these larger transactions - swaps of some kind? Can't both be sells as it would have hammered the SP and unlikely that both be buys as they would likely have pushed the SP much higher.
Must be a buy, the anti-positivity department is quiet 🤐
It's just become heftier: a late-reported 2nd line of 10m shares went through at 0.40p at 16:37:15, to add to the 9,978,179 of the Uncrossing Trade.
Pretty hefty trade at 0.4 just popped up . . .
"In another pledge, Labour says Great British Energy would be paid for by a windfall tax on oil and gas companies.
How much that raises depends on how high energy prices are. And there is already a windfall tax on energy companies: the Energy Profits Levy, introduced in May 2022 at 25% and then increased in January 2023 to 35%.
It is supposed to stay in place until March 2029 unless oil and gas prices drop below a certain level for six months. Labour want to increase it to 38% and reduce the investment allowances, which it refers to as loopholes".
This should encourage Angus in their endeavours to find suitable growth opportunities outside of the UK.
My little 500k top up pushed the price up - come one peeps get buying ;-)
GLA SR
"And one cannot assume the share price will remain the same for the next many months."
Very true. It's dropped 33% since April 15th.
Ocelot: thanks for the correction re quarterly payment of the royalty from end-March 2024. Apologies to chickster and to you for my mistake in this. So there will be a cash outflow, or shares in lieu equivalent, of c. £300,000 at the end of June in respect of the royalty
And one cannot assume the share price will remain the same for the next many months.
We simply don't know whether they will be paid in cash or in shares, that is at the election of the company". They have been paid in shares this time.
""27.4m shares = 0.62% of the increased share capital of 4,421.9m shares ""
So basically, if they are all converted to shares every month for the next 18 months, then they will have between a 10-12% holding for nowt !!! EASY MONEYYYYYYY !!!
It has been agreed with the royalty holders that until June 2025, the royalty will be settled in cash or through the issue of new ordinary shares in the Company (in the case of the Aleph entities, this is subject to shareholder approval), issued in April (in respect of March) and then quarterly at a 15% discount to the 30 Day Volume Weighted Average Price, at the election of the Company. On present production and gas price assumptions, this will equal approximately £300,000 per calendar quarter for each quarter until and including the quarter ending 30 June 2025, or £1.5 million in total over 18 months (the "Equity Royalty Payments"). Thereafter royalties will be paid in cash on net gas sales revenue, not taking account of any new hedges. (RNS of 22/02/24)
""27.4m shares = 0.62% of the increased share capital of 4,421.9m shares ""
Yeah, not a big deal as a one off, but this is going to be MONTHLY (Caps for Cinder's)
27.4m shares = 0.62% of the increased share capital of 4,421.9m shares
And lets not forget that by not paying in cash, it incurs issue of shares at 15% discount to the 30 day VWAP, just to insult Retail a little more...
HITS: I believe the offtake agreement and the hedges are separate, aren’t they? The difference between the hedge agreements, to the extent that we know anything, is that, in contrast to the Mercuria hedges, which were in place for a limited time, the new ones are permanent, as I understand it. I wonder if there was any price to pay to end the agreement with Shell. And yes, the terms neither of the offtake agreement nor the hedges have been divulged. It was - and continues to be - a wonderful deal that Mercuria negotiated. Angus has been a source of riches for Mr. Forrest and for the commodity traders while the poor shareholders have stumped up at every turn and been rewarded with a share price that keeps plumbing new depths.