IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.
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10m print after hours, looks like a buy to me.
GLA
TLM
Not the best decision if it was a buy
Well time will tell if that was a good move or not, I reckon they got them cheap given the current market cap.
Mixed bag in today's news, sale can proceed now that there isn't a pre-empt from BMA. The refusal of the DSO route isn't a surprise as the PNG authorities have had an issue about that for several years now, that won't be new to IBM either. They're not happy about the prospect of the high grades being developed leaving the sub 1% in the ground. So I guess the way forward for the JV would be to go down the Ni processing route. Given the large Ni price and the size of Mambare, shouldn't be the end of the world for that. Larger dev costs, but much much larger revenues and likely much more of Mambare commercially exploited.
Regards,
Ed.
Morning Ed,
Hope you are well, thanks for explaining the RNS to us, as I found the wording a bit confusing.
Good news that the transaction can now proceed, although I suppose the funds will take a bit of time to come through?
Let’s just hope the balance of the fund raising comes through in the coming days, as that will give some stability to the share price.
Thanks Nige
Seems to me that the RNS explicitly leaves out a definitive statement of n proceeding, which it could have done.
TECHNICALLY they can proceed, but given the refusal to grant the licence, WILL THEY proceed. this is yet to be confirmed. IMO.
Morning Nige,
It seems like the extended pre-empt is now over. I'd imagine that the deal can now proceed but that will require approval by the authorities etc. So I think you're being very hopeful when thinking days. Sale of the mining assets will be useful for sure, hopefully complete before year end. I'm more interesting to see what the combo of Mr Karam and Mr Gilbert can bring to the table in terms of deals, both highly successful. Reading up on Mr Gilbert is certainly interesting, developments there could happen at any time.
Regards,
Ed.
Cheers Ed, just a question of time in my opinion before we return to great sp levels. Gla holders, the rest have been filtered lol !
Luke,
Indeed. Mr Gilbert has been highly successful in African oil and gas, founder of GdeC etc. They have been unlucky so far on Tobias, there are very few single well success stories out there, these things always take time. Both our top management and even the lower management have been very successful developing businesses.
Regards,
Ed.
Thanks Ed,
Great post as always.
Yeah you are right, we could do with a deal of some kind to get things moving again?
Although not sure what can be done with limited funds available?
AET seem to have got it right, there market cap must be around £ 100 mil now?
I suppose we can dream:-)
Thanks Nige
Yes agreed Ed, a guy of Scott Gilbert`s quality does not move from one Company to another easily, in my opinion, unless he sees huge potential in Corcel to make his mark in a very impressive way !
Luke,
Absolutely, these guys currently leading the company have been very successful.
Nige yeah production base would steady the ship for sure. Well some of the companies I mentioned, like SRSP for example had next to no funds, but contacts with AFC and Trafigura etc. They managed to acquire an interest in OML 65 Nigeria and finance the workover programme with other people's money, Now also apparently have acquired Tunisian production with offshore development potential and are pending completion of BP operated blocks in Angola with Etu as a JVP. Or another example SQZ managed to secure the mature Erskine field from BP in the NS for circa $21m, between the effective date and the completion date the field had pretty much paid for itself. Like I3E, SQZ then also acquired further fields through debt. So it does happen, Mr Karam etc has been associated with a lot of African banks etc. Even little TRP is apparently trying to secure bank funding in Cameroon for its appraisal drilling.
So we can just wait to see what scale/quality of assets that CRCL can get and how it would be funded. All those mentioned above were for thousands of boepd, doesn't need to be on that scale to make a difference to our £4m cap.
Regards,
Ed.
Morning Ed,
Great post, thanks for posting the other company examples.
It makes you wonder why they didn’t take the existing production route initially?
Would have been a low risk option and they could have built up funds to buy other assets later?
Let’s see what the next move is, hopefully not too long to find out?
Thanks Nige
Good morning Nige,
Easy to say with hindsight, but they got into Angola on the cheap and more than likely thought that Tobias and Galinda would provide first production. Not the case so far, but Brazilian gas production has been talked about for about a year or so. They do need to take their time too and get the right assets. fingers crossed they'll get something over the line this year.
Regards,
Ed.
Hi Ed,
Yeah you are right, it was still a very good deal for the price we paid.
Just been unlucky really, hopefully the new work that is currently being planned on the blocks will help solve the issues and production can start next year.
They must feel they have an excellent chance otherwise the consortium would spend more money on the project?
Let’s see what happens
Thanks Nige
Lets wait and see , hopefully some more news soon haha