Bradda Headβ― Lithium exceeds targets, secures US$3 million royalty and moves closer to production. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Will wait for it to drop further, not on support yet.
Great time to buy more atm!
In US it settled right on the 200MA... .347
Close on the low of the day, hmm - looks like it was attracted to that double bottom at 27.1p
So david mentioned end of june for a webinar covering all updates and finance going forward
only leaves that till next friday then
like waiting for christmas lol
For anyone wondering who the long term buyer/supporter of PANR is, then perhaps best to have a read over this
https://en.m.wikipedia.org/wiki/Michael_Spencer
Does he know more than you about PANR...? The likely answer is Yes. Did he just pick up a few million more shares at 28.5p...? The answer is Yes (most likely).
Does he likely know what is in the offing in terms of finance/JV very soon...? The answer is Probably yes.
When the financing is announced, do you think you'll get a quote to buy PANR... Probably not.
Will the short sellers try to close... likely.
This is why it is sensible to take positions now, ahead of news (likely in next 10 sessions)
28.5p shares hitting the market Thursday.
Today is a BUY. (Just shy of 500k at 27.9p)
Good luck.
13:10
Has David Hobbs actually ticked all the boxes yet, surely that will only happen when either a JV or actual finance solution is officially announced?
Would a JV be more expensive in the long term as I assume it would involve working interest being given away?
The hotline connection to TAPS is necessary if and when Alkaid -2 etc go into full production, otherwise we would be dependent on tankers and all the inefficiencies and reliance on third parties that would bring particularly during winter.
Iβm sure , we must be getting a RNS in next few days
With a invite for webinar next week ..
What's all that about - Trades from 7th and 14th June in between trades today?
7/6 -29.20K
7/6 29.20K
14/6 -29.75K
14/6 29.75K
14/6 -37.95K
14/6 37.95K
Hopefully WH ireland will have a nice positive note out soon
17-Jun-24 Canaccord Genuity Speculative Buy - 90.00 Reiteration
So long as he doesn't farm it out to our neighbours! They couldnt find oil if they were swimming in a pool of the stuff.ππππππ
What a fantastic opportunity for would be investor get in now
hobbs has ticked all boxes as promised in full and on schedule
if in late june webinar he pulls a jv out of hat for half money needed $60-80 mill. as envisaged then how high can this shoot up on confidence of other half coming with possible same jv partner
can't see why we would want the taps connection in this half of investment and not the second part
any thoughts on that guys
Iβm watching, obsessively!
[Funding options being PRESENTLY UNDER CONSIDERATION include a suite of alternatives including farm-out, equity, debt, hybrid and a US listing targeted for 2025]. *capitals are my own.
I have seen this language before...
A short and punchy rns listing farm out first in a list of options presently under consideration seems highly suggestive, especially when viewed in light of recent bullish statments by D Hobbs with 'more to come', and in light of a previous nearly-closed-deal at much higher MC in 2021 (at that time without the certainty that Netherland, Lee Keeling and Cawley Gillespie offer now).
The ongoing support from Lord Spencer at 28.5p vs previous support around 18p under same terms as CB repayment speaks volumes.
These shares will be hitting the market next week.
The support is now 28.5p
Possibility/probability of a gap-up rns within the next 10 trading sessions is a distinct possibility.
Some debt and a possible JV are DISTINCT possibilities.
Who would remain short on this suite of squeeze-inducing risks.
A rapid recovery is in the barrel here.
Lets see if Hobbs pulls it off.
(NB: many ways for Mangrove to exit without incurring too drastic a loss, and one of them is certainly to strike a deal with GBP. Buying back on the market is clearly not in their best interest).
Watch this space.
Price now lower than the placing price, if there's gonna be a bounce today, this is the level so just took a few.
An interesting what looks like a concerted effort to push down on the price, mangrove still active as hell maybe?
Thinking back i'm sure $120-$150 million is full funding needed to get to cash generative position
but it was in increments up to 2028 first production
so guess $60-$80 m now and so forth
but a jv partner would be Amazing now and no dilution
one of the big boys
having full recognition of our barrels now 1.5 billion at $80 dollars per barrel are huge and the gas deal on top the cherry on the cake
as david said watch this space
just to get back to Β£1.50 ps i'd be happy
Hope everyone took the opportunity to fill their boots yesterday π
Very curious/good options laid out by David Hobbs.
People in his position at this phase in the proceedings are very careful what they say. To mention farmout suggests this may be something currently being discussed...
Recall 2021 when a farmout was in discussion but fell through. Well, this may be back on the negotiating table.
Watch that space.
Private equity still heavily backing this ticker.
Onwards and upwards (generally) from here.
Shorts should seriously consider that they might get wiped out with heavy losses within the next few weeks...
Pre-FID funding requirement appears to have be almost slashed in half! This is bigger news than the market is giving account to currently.
The rerate is fast-approaching.
Nm
"watch this space - more news to come" - based on this comment from David Hobb's in his last interview - I was expecting more which makes the RNS this morning strange yet interesting. This RNS could easily have been issued months back as there is nothing substantive in it . As mentioned - the reference to "farm-out" could be significant and I can only assume a more substative progress report on funding will be provided shortly after evaluation of options that I'm assuming are already on the table.
Also - I cannot remember the cost of the hot tap - I think it was $20m - why would that be done before FID i.e. why would you spend $20m on a hot tap if the outcome of FID could be negative ?
I struggle to understand how they can need $60-85m to get to FID. Makes you wonder how much money they need for the development.
"the Company estimates the funding up until the point of Ahpun FID (referred to above) is in the range US$60 - US$85 million"
Numbers required for production going down which is nice to see. Canβt remember if the original 150 mil was for the whole field or just Aphun to get us going. Either way itβs nicer to see 60-85 than 150
Pantheon Resources PLC Quarterly Bond, Private Placing & Funding Strategy
Source: RNS Regulatory News
RNS Number : 4073S
Pantheon Resources PLC
14 June 2024
Logo Description automatically generated
14 June 2024
Pantheon Resources plc
Quarterly Repayment of Unsecured Convertible Bonds, Private Placement and Funding Strategy Update
Pantheon Resources plc (AIM: PANR) ("Pantheon" or the "Company"), the oil and gas company with a 100% working interest in the Kodiak and Ahpun fields is pleased to provide the following update:
Highlights:
Β· Quarterly Bond Payment
o The Company has elected to make the quarterly principal and interest payment of US$2.72 million through the issuance of 7,471,153 new ordinary shares (the "Bond Shares") at a price of US$0.364 per share.
Β· Private Placement
o Private placement of approximately US$3.36 million to two existing long term shareholders through the issuance of 9,230,080 new ordinary shares (the "Placement Shares") at a price of US$0.364 per share to provide additional working capital, (the "Placement"), and to increase the Company's flexibility in advancing funding discussions per the overall strategy outlined below.
Β· Funding Strategy
o Long term funding - the Gas Sales Precedent Agreement ("GSPA"), executed on 5 June 2024 opens a potential path to funding of post Ahpun FID expenditures without further equity dilution.
o Interim funding - the Company estimates the funding up until the point of Ahpun FID (referred to above) is in the range US$60 - US$85 million. This includes costs required to complete the Environmental Impact Statement ("EIS"), G&A, US IPO preparation costs, hot-tap into the TAPS pipeline, as well as the cost of drilling and testing the planned Megrez-1 well to assess the Ahpun East project area which the Company estimates to contain a Prospective Resource of c. 609 million barrels ("mmbbl") of marketable liquids. At the upper end of the range this would also include the cost of drilling and testing an additional Ahpun appraisal well if required.
o Funding options being presently under consideration include a suite of alternatives including farm-out, equity, debt, hybrid and a US listing targeted for 2025. The Company believes a US listing is an important step into providing greater access to the US institutional investment community, and to enhance market depth and liquidity in the Company's shares.
Β· Webinar Planned
o Update on corporate strategy following will be provided to shareholder in a webinar later this month. Precise timing of the webinar to be confirmed in due course.
David Hobbs, Executive Chairman, said: "A year ago, Pantheon embarked on a refreshed strategy to drive progress towards financial self-sufficiency as quickly as possible and at minimum possible value dilution to existing shareholders. The progress of the past twelve months - ind