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Interesting, you no doubt remember He1. phase Pump and dump announcing Tai-2 , just 12 paces to the left, and 70m down.. Well Canaccord was joint broker, same for DELT.. They also act as market makers, and are a global investment bank..so money is their game.. Not sure if they are MMs trading DELT
Also end of the day He1 itself is in a better position, MC unaffected, just the LTH suffered while the smart money and savvy traders made a fortune...
So I guess the MC of DELT depends on the outcome of this years drills, and Pensacola has oil, while the other is an exploration well... Odd its Pensacola funding thats the issue, as its a valuable asset, rather than the exploration risk
One to watch, after hours funding RNS, only 93m share in issue, after the consolidation.. was 1.8bn
Raising £13m at 10p would result in 130,000,000 additional shares, thats still so much less..
Both wells come in, well 88e was +£100m with no oil.. seems set up to multi-bag
Some heavy losses on Delt :(
Need to watch closely to see if they have done a He1, almost 60% wiped off April high, follow that with 50% discounted placing its going sub 10p... ~£8m MC ... then that 10 bagger which Malcy called before shte hit the fan has a lot more chance of happening...
Asset NPV 200m, for £8m company,, plus Selene
Mmmm, some high value trades going through both delayed printed after about 11:05 and 11:35, on time and price they are buys..
01-May-24 09:34:46 12.00 750,000 Unknown* 90.00k O
01-May-24 08:35:43 11.99 750,000 Unknown* 89.93k O
=================================================================
30-Apr-24 15:08:55 11.75 450,000 Unknown* 12.20 12.50 52.88k O
30-Apr-24 15:08:55 11.75 -450,000 Unknown* 12.20 12.50 -52.88k O
30-Apr-24 16:15:46 11.40 250,000 Unknown* 12.20 12.50 28.50k O
30-Apr-24 16:15:46 11.40 -250,000 Unknown* 12.20 12.50 -28.50k O
Past performance is what undermines that company
ECO still. climbing
ECO in Namibia too, and Tro's shout WTE
Nambia, and Sarawak for the oilers
A full month of trading before results I thought.......
"Petrofac today(yesterday) announces a delay to its audited full year 2023 results which it now expects to publish by 31 May 2024.
But
trading in the Company’s shares will be temporarily suspended from 7.30 a.m. on 1 May 2024
So I guess todays buyers are gambling on good news on restart and a rally....
@Swissy, I thought MSC and Zero was just jam.....
Mmmm, I had my finger on the sell button at 1.5p late today, but it was rising, so confused the issue lol...
MC £55.16m,
Shares outstanding 525.37m
Free float 438.21m
52 week hi 87.50, and a low of 8.44.
Not in good place but
Dec 23 contract win...plus others
The project is to be executed under a standalone contract, with Petrofac’s portion valued at around US$1.4 billion.
What's the interpretation of this message ?
"Continued efforts in respect of our project mean that we do not expect any material delay to the overall MSC vessel trial programme at this time. We remain in regular contact with our project stakeholders and Quadrise is focused on the delivery of the Project Agreement as soon as possible."
Redx, gone now
LBE might be starting its slow climb, looks like 16.5p was the bottom to buy...
QED, MM take I back up quickly, not sure if 1.5p will be where it holds, or if it will drop.. big spread puts you off selling if you want to buy back
Last day o trading for Redx, I guess its people punting on a private take over or listing in the US of A..
MEN gone today too, so its just raining..
BCE isn't down 12%, 0.54p to sell, 0,56p to buy....
@Swissy, how do you take QEDs update, sounds like there are real delays, so hard to tell ......
I should have sold after that Utah update, and taken advantage of the market being wrong ;)
I can't remember if ECO are carried now for this drill, goldfish memory.. :(
They shouldn't have made that announcement, they have just halved their share price seriously affecting the price of any fundraise...Does'nt sound good..
Could it be a little like He1, a play to create maximum upside, it's already a discovery, tested and later the resource was upgraded too.....Probably what all the LTH have been waiting on..
He1 showed they can raise whatever they want if the price is right,
Plenty of past posts saying the company is a little dodgy during Pensacolas, so lets see if a big discounted fund raise occurs, or maybe a potential JV has been playing hardball for a bigger slice of the pie...
ECO, approaching 12p, was 8p, no news,
DELT, on the verge of drilling Pensacola appraisal well, NPV 200m to them, on the verge of giving it up, lack of funds
They managed a JV for Selene, exploration well, so what's wrong with Pensacola ?
https://www.lse.co.uk/rns/DELT/pensacola-update-soxmfg025hjejdl.html
Lucky escape not buying, 40p to 20p, Nasty :(
I noticed the 1st payment AUD 500,000 is about £260,000, , and in return £260,000 worth of shares at 0.2p are exchanged..
So its just an equity swap or fund raise..and if UFO do well the JV partner could use the the profits to cover the first phase exploration, x3 0.2p(jan 2023 0.6p) should do it,,
• Upon execution of the Agreement, a one-off payment of A$500,000 to Alien by way of a subscription for 130,000,000 new Common Shares at a price of 0.2p (the "Subscription Shares"), being the VWAP over the ten trading days prior to the date of the Agreement (the "Subscription"). The proceeds of the Subscription will be applied to general working capital purposes.
• Stage 1: Errawarra will earn-in for a 25% participating interest in the joint venture by spending A$1m on the Project within 24 months of the date of entering into the Agreement; and
• Stage 2: Errawarra will earn-in for a further 25% participating interest in the joint venture by spending a further A$2.5m on the Project within 60 months of the date of entering into the Agreement.
https://www.londonstockexchange.com/news-article/UFO/a-4m-farm-out-jv-for-lithium-rights-at-pinderi/16445794