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AST

Ascent Resources Plc

3.60
0.05 (1.41%)
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Share Name Share Symbol Market Type Share ISIN Share Description
Ascent Resources Plc LSE:AST London Ordinary Share GB00BJVH7905 ORD 0.5P
  Price Change % Change Share Price Shares Traded Last Trade
Upgrade Icon
  0.05 1.41% 3.60 550,050 09:00:28
Bid Price Offer Price High Price Low Price Open Price
3.50 3.70 3.60 3.55 3.55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Crude Petroleum & Natural Gs 0.00 -1.97 -1.80 - 3.94
Last Trade Time Trade Type Trade Size Trade Price Currency
11:30:29 O 300,000 3.55 GBX
Related Shares
Bp (BP.), Harbour Energy (HBR), Curzon Energy (CZN), Echo Energy (ECHO)

Ascent Resources (AST) Latest News (3)

Ascent Resources News

Date Time Source Headline
02/6/202310:48ALNCNewsAmur Minerals to consider Ascent's possible takeover offer
01/6/202313:54ALNCNewsAscent Resources bids to buy Amur Minerals with all-share offer
01/6/202313:05UKREGAscent Resources PLC Intention to bid for Amur Minerals Corporation
01/6/202307:00UKREGAscent Resources PLC Holding(s) in Company
30/5/202315:35UKREGAscent Resources PLC Concession Extension,Partner Dispute &Subscription
10/5/202314:04UKREGAscent Resources PLC Holding(s) in Company
09/5/202311:07UKREGAscent Resources PLC Holding(s) in Company
02/5/202313:32UKREGAscent Resources PLC Holding(s) in Company
17/4/202317:43ALNCNewsTRADING UPDATES: Eqtec enters deal; Fulcrum buys 42 mining claims
17/4/202311:47UKREGAscent Resources PLC Revenue Recognition

Ascent Resources (AST) Discussions and Chat

Ascent Resources Forums and Chat

Date Time Title Posts
01/6/202319:17Ascent Resources AST - Slovenian Gas Producer 7,630
01/6/202221:35Ascent Resources - Licenced To Thrill !11,810
01/9/202118:58BREAKING NEWS ASCENT RESOURCES ABOUT TO MULTIBAG ON LITIGATION UPDATE32
05/2/202114:03COLIN HUTCHISON ON FRONT COVER OF FORBES MAG..OMG THIS IS HUGE!!22
20/5/202008:04Open discussion with Ascent’s shareholders on Slovenian assets4

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Ascent Resources (AST) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
11:16:473.55300,00010,650.00O
10:30:303.6550,0001,825.00O
10:10:043.671,00036.70O
09:55:313.67100,0003,670.00O
08:34:493.6813,347490.50O

Ascent Resources (AST) Top Chat Posts

Top Posts
Posted at 01/6/2023 19:17 by helpfull
There was the cancelled attempt to raise cash out of South Africa wasn't there between times.

I would not be surprised, with the agreement of the AMC BOD, to see an agreed deal with 2 Ascent shares for every 21 AMC. That would give the equivalent of a placing at 3.05p for Parsons. The sort of price that is acceptable in the current market for about 124 million new shares.

Not sure what shareholders of both companies would think though.

Be careful.
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Posted at 01/6/2023 14:23 by bad gateway
2 things come to mind.
1. Love their idea of fair value for the amer holders...
"the indicative proposal is equivalent to a gross equity valuation of 6.1 pence per new Ascent share"

2. Comes across they're very sure of winning their ICSID cases. Wonder if the confidence is well founded? Shares are a bargain if so. See how they do round 1 in a couple of weeks.
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Posted at 01/6/2023 13:24 by burtond1
Some deal that!!! 6p here we come https://www.londonstockexchange.com/news-article/AST/intention-to-bid-for-amur-minerals-corporation/15981715
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Posted at 24/5/2023 09:43 by burtond1
Good news for AST??In the letter to Minister Brežan, the office also noted that the investor had estimated the damage in the application for arbitration at a minimum of €500 million. Ministry officials did not want to discuss this...https://sloveniatimes.com/mining-rights-extended/
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Posted at 22/4/2023 13:12 by chinese investor
Another possible EUR3 million revenue in July 2023 !

"Ascent continues to pursue its arbitration claim against Geoenergo in relation to the parties' different interpretations of the application of the baseline production profile and the number of wells ASL is entitled to receive a portion of revenues from whilst it is in a preferential cost recovery mode (i.e. until it has earnt back its investment of over EUR50M).

The Tribunal has been constituted and the first procedural hearing took place in March 2023.

The Company expects the final hearing to be in July 2023.

Ascent is seeking compensation of at least EUR3 million for its share of hydrocarbons produced above the baseline production profile for producing wells, other than PG-10 and PG-11A, in the concession area while it is in a preferential cost recovery position.

Further updates will be announced at the appropriate time."
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Posted at 31/8/2022 19:09 by tima441
https://twitter.com/tima441/status/1565038296144773121?t=CXs8uj-rl6Y6il2d9Yr_Cw&s=19

People are confused by the #AST different claims.
CLAIM 1 against jv partner ref wells PG10 & PG11A
SETTLED
Paid €650k Aug 2022
Payment due €850k early Sep 2022

Further payments due circa €270k per month to end Nov 23. Say €4m in total

#AST CLAIM 2 against jv partner
Other wells in dispute & subject to mediation in Sept. Perhaps €3 to 5m due to #AST

FIRST 2 CLAIMS TOTAL UP TO €10m (£9m) vs mkt cap £8m

CLAIM 3 against Slovenia Gov is THE big one. Claim may even exceed €500m

#AST CLAIM 3 against Slovenia Gov is THE big one. Claim may even exceed €500m for:
1. Capital invested - circa £50m
2. Loss of earnings, profits & expropriation of assets etc.
No win no fee lawyers are a heavyweight team that ensure claim is not going away. Incentivised!

#AST Recent #RKH award vs Italy gave potential template type of award. Found in RKH favour.
Realistically CLAIM 3 is likely to result in €100m as a mid/base number. With net say £60 - 70m to AST after costs.
But potentially much more too. £100m+ would NOT surprise vs mkt cap £8m
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Posted at 16/8/2022 10:48 by chinese investor
AST 16 September 2015 38,673 0.02560 £1,000 SIPP
AST 8 August 2016 100,000 0.02000 £2,012 OTHER
AST 23 August 2016 61,327 0.01490 £889 SIPP
AST 31 January 2017 70,000 0.02500 £1,758 OTHER
AST 08 March 2017 30,000 0.02150 £655 SIPP
AST 10 March 2017 30,000 0.01320 £407 OTHER
AST 13 July 2017 70,000 0.01540 £1,088 SIPP
AST 12 March 2018 200,000 0.01050 £2,110 SIPP
AST 10 May 2018 200,000 0.00900 £1,810 SIPP
AST 18 December 2018 200,000 0.00350 £712 OTHER
AST 19 June 2019 500,000 0.00210 £1,060 SIPP
AST 22 October 2019 500,000 0.00166 £840 SIPP
AST 22 February 2020 1,000,000 0.00045 £460 SIPP
3,000,000 £14,801

Break Even £0.49338 TOTAL

Break Even £1.22 4,000 £4,890 OTHER
Break Even £0.38 26,000 £9,912 SIPP
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Posted at 16/3/2022 08:28 by bspgamer
Keep the right side of this Empire "...With a new position in one of the world's most prolific gold regions, and a busy few months ahead, Empire is one to watch this year..." Gold exploration and development company Empire Metals (AIM:EEE) continues to consolidate its presence in Western Australia, having pivoted over the past two years from a long-time focus on mines in the Caucasus.The company changed direction in 2020, dropping its previous flagship asset, a 50pc interest in the Bolnisi Copper and Gold Project in Georgia, after a long running dispute with the Georgian National Agency of Mines over the extent of the licence, and acquiring a 75pc interest in the Eclipse Gold Project, a historic mine located 55 km north-east of Kalgoorlie, which has recorded historic production of 954 tonnes at 24.6 g/t gold. A 2014 drilling programme identified high-grade mineralisation within a 30 metre zone either side of the main Eclipse shaft, and soil surveys indicated elevated gold concentrations in portions of the Project's mineralised system.Empire sharpened its new focus on Australia last May, taking a 75pc option interest in the Central Menzies Gold Project 90 km north-west of Eclipse. The Project, comprising four exploration licences covering a granite-greenstone belt within the Menzies Shear Zone, is close by the 320,000 oz Menzies Gold Project operated by ASX-listed Kingswest Resources, and directly south along strike from the 15 kilometre Yunndaga line of workings, which has a historic metal inventory of 1.1 Moz of gold. The agreement gave Empire a nine-month option period.Strategic adjustments Two phases of reverse circulation drilling at Central Menzies last year indicated a significant gold anomaly identified along a 500 metre strike length, while drilling at Eclipse sought to test the extent of previously identified mineralised systems. By July Empire had drilled 19 holes and three core diameter drill holes, discovering 'several parallel veins in addition to the main Eclipse vein', and confirming intercepts from previous drilling. In August the company refined its Eclipse drilling strategy after finding the main gold mineralisation at the mine to be more prevalent at depth and 'perhaps orders of magnitude larger than originally anticipated.' Rather than moving ahead directly to a small-scale open pit operation Empire would take time to recalibrate its programme 'with the objective of delivering a larger mineralised inventory'.The rethink presaged a significant adjustment in strategy this year. In January Empire published somewhat mixed news on December operations at Central Menzies. Although drilling had indicated the presence of gold mineralised zones, and intercepted quartz veins and alteration occuring along the contact between basalts and sediments, 'only a few of these intercepts [had] identified significant gold mineralisation extending into fresh rock'. A few days later the company said it had agreed Heads of Terms to enter into a Tribute Agreement with Maher Mining Contractors Pty Ltd, giving Empire the right to explore, develop and mine within a granted area on Maher's Gindalbie Gold Project, located near the historic gold mining town of Gindalbie, adjacent to the Eclipse Gold Project. The Gindalbie project area would increase Empire's mineralised footprint around Eclipse by more than 200pc, taking it to a total of 943 hectares, and extend the current area for exploration targets a further 2 km along the Eclipse lodes trend, and 1 km to the north and 3 km to the south. Gindalbie was an active gold mining centre around the turn of the last century producing through the periods 1887 to 1913 and the late 1930s to the early 1940s. Total recorded production to the end of 1913 was 44,622 tonnes of ore for 40,643 oz gold (at an average grade of 28.33 g/t gold). With its new acquisition Empire would be able to target 'significant additional high-grade gold targets to be evaluated within the combined Eclipse-Gindalbie area, both along the southeast strike extension of the Eclipse trend and in sub-parallel northwest-southeast trends lying to the northeast and southwest of the Eclipse trend'. Under the agreement, for which binding terms were signed last month, Empire will pay AUD$250,000 for an initial six-month exploration term.Drilling gets underway at Gindalbie Empire went on to announce an initial drilling campaign at Gindalbie, to be pursued in conjunction with a new phase of exploratory drilling at Eclipse, both of which 'will be implemented over the coming weeks'. The Eclipse programme, which will employ both reverse circulation and diamond drill holes, is designed to gather further geological and structural information around the Project's Eclipse and Jack's Dream shafts, and test for both high grade gold mineralisation at depth and continuity of the mineralisation between the previous high grade drilling intercepts. The current Eclipse database shows only 20pc of the reverse circulation holes drilled to date have penetrated below the gold-depleted regolith zone into fresh rock. Previous drilling indicates that gold mineralisation likely continues to greater depths, and that further drilling is warranted to test the strike and depth extensions of multiple gold structures at Eclipse.Reverse circulation drilling at Gindalbie will seek to extend the mineralised trend a further 2 km to the southeast of Eclipse and to understand the extent and origin of what the company believes to be 'a much larger gold system'. Last month Empire said exploratory drilling campaign at the location was now underway, testing for high-grade gold lodes within the transition and fresh rock, immediately below or adjacent to several of the historic mine shafts. The programme consists of 16 reverse circulation holes for 1,610 metres, drilled on the back of the reverse circulation drill campaign at Eclipse, which has also started. Empire hopes that by building a better understanding of the structural geology at Eclipse, and targets along the mineralised trends traversing the Gindalbie project area, the company will be able to develop 'a comprehensive and targeted exploration plan for both the Eclipse and Gindalbie projects with a view to moving rapidly to a development phase'.The company's inauguration of the Eclipse-Gindalbie campaign was accompanied by news that it had decided not to take up the option for the Central Menzies project. Results so far had been 'generally inconclusive, with no obvious continuity along strike and no significant high-grade intercepts'. Empire will now focus on the known high-grade gold assets centred around the Eclipse-Gindalbie project area 'as well as look for further acquisitions within Australia'.The year ahead Empire remains funded for exploration over the coming months with some £2.1m in current cash reserves, boosted by the current favourable exchange rate between Sterling and the Australian dollar. The company now seems fully reoriented towards Australia, clarifying the nature of the opportunity at around Eclipse, and embarking upon a programme to open it up. (It's worth noting Empire also holds a portfolio of three precious metals projects in central-southern Austria, which may come into play depending on its progress in Australia.)Empire's share price fell all the way from 25p to 1p after its Georgian venture run aground, but has shown signs of picking up again at it has doubled down on the Eclipse-Gindalbie prospect. The price is currently around 1p, spiking at 1.50p just a month ago. With a new position in one of the world's most prolific gold regions, the price of gold surging with war waging in the Ukraine, and a busy few months ahead, Empire is one to watch this year
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Posted at 18/3/2021 15:10 by nhs buyer
These thoughts are based on a Settlement as follows:

€20-25million plus all permits required to re-stimulate the wells.
(3-4 years ago while waiting for permits to re-stimulate and build a small processing plant onsite the share price was trading in the range of 2.5-3p - pre-consolidation, now that would equate to 250-300p)
(the permit to build the processing plant was granted the others required were not)

Now to today if AST is granted substantial compensation and the stimulation permits required along with new 5yr term (till 2026).

Then this is quite possible:

1) AST will be able to stimulate the wells to obtain the maximum output possible.

2) AST will have the funds to build the small required processing plant on-site, once completed they will be able to sell gas into Slovenian grid.
Compared to 3 yrs ago AST would of had to raise/or borrow the approx €10m to build the plant. (Note: I will take 1yr-18months to build the plant).

3) The value of the asset in the ground has risen by at least 50% in the last 3/4 years.
In 2017 it was reported to be worth €200million so now it’s €300million plus.

4) While the processing plant is constructed, AST will be able to sell substantially more raw gas to INA at a higher price than ever before, possibly creating a profit above operating costs.

5) AST will have funds to progress the Cuba project and any others it’s considering without further dilution of the share price or borrowing from a bank/financial institution.

6) AST will be 100% debt free, and will repay Align any recent drawdowns on its loan facility.

So baring all that in mind I can easily see within 6-12 months from the settlement being agreed that the MCAP of AST could get to at least £100million, which would equate to a share price of 92p.

Thoughts on the above from other fellow LTH always appreciated!
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Posted at 09/2/2021 17:24 by wrestlingmad
As a LTH in AST from pre-consolidation days of 2017/18 and suffering like a lot of other LTH with large paper losses (especially after consolidation) I thought I’d look back as where AST was back then and compare it to now to see what the potential is now for both LTH to recover losses and new investors to make some money.


2017/18

At the highs of this period the share price was around 3p (300p equivalent now).

We were waiting for permits to land to re stimulate the wells and build a processing plant onsite to enable the sale of gas directly into the Slovenia grid.

We had a contract to sell raw gas to INA in Croatia while the process was being followed.

At this time the ‘asset’ as in gas in the ground was valued at circa €200million.

We all know that the re-stimulation permits were not granted and the share price dropped dramatically other things (such as tools down wells) also caused the share price to drop.

What AST did get is the IPPC permit for the processing plant.

So if this is still valid they do have that.

Then the 100-1 consolidation happened, new board and the legal challenge started...


Feb 2021

So where are we now in comparison:

Current share price 14p

Value of asset has increased from €200m to circa €400m due to gas price increases over past 3 years.

New Contract to sell raw gas to INA (possibly at much higher prices than before) once current pressure testing completed.

€20-€40million in compensation pending from Slovenian government.

Re-stimulation permits for current wells could be awarded as part of settlement.

IPPC permit already in hand (if still valid) so on-site processing plant can be built.

Pressure in wells increases naturally over time and they have been closed for nearly 14months, so current pressures could be higher than the pre Dec 2019 closure, so more gas to sell.

Cuba - the new unknown project so AST is no longer a one trick pony anymore.

Recent news that Cuba is open for business to companies outside Cuba can only help this project develop in coming months/years.

Finally - Settlement from Slovenia (TBC of course) should be enough to cover the cost of building the processing plant and to further advance the Cuba project without any further financing/placings being required, therefore no further dilution to the share price

Factoring all the above and if news in next few weeks is as expected then surely a share price of 100-150p is achievable in the medium term (1-1.5p in pre-consolidation money!)

That’s still only 50% of where we were when waiting for permits in 2018 on the back of an asset worth €200m and no money to build the processing plant.

I hope these observations help LTH & new investors alike.

Other LTH’s opinions always appreciated.

I’m not trying to to ramp the share price but point out that the fundamentals are there for a sustainable rise over the medium term.
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