Chariot Share Discussion Threads

[marvelman] 17/7/2023 09:09

HS.. Filter.. Not worth acknowledging creatures such as them

[brazilnut1] 15/7/2023 16:05

Need anything more ADVFN Admin ?

[brazilnut1] 15/7/2023 13:11

Thoth2 is Gekko. Please ban ADVFN. It is dirt.

[brazilnut1] 15/7/2023 13:03

Gekko Sadboy.

[brazilnut1] 14/7/2023 13:01

888 now cant even read. Saying share price " continues to rise". Its been down since open you numpty paid ramper.

[888icb] 13/7/2023 13:09

Yes they will

[sid79] 13/7/2023 11:55

Will the broker/company we hold shares with, reach out with details on how to apply for the 14p offer? Thanks

[drk1] 13/7/2023 08:12

Thanks 888ICB "I can now reveal that an announcement will be made shortly, which could materially provide the financing of the development capital to first gas and significantly reduce the risk of dilution to shareholders." - Good enough for me! ;-)

[hsfinch] 13/7/2023 08:08

Positive reaction to the raise. This hits 25p with a positive partner announcement and then keeps going.

[888icb] 12/7/2023 23:53

This is the conclusion of the IC article:
Value accretive to shareholders
First gas production from the new onshore Moroccan licence could commence ahead of Anchois development cashflows, too. House broker Cenkos Securities estimates that a 10Bcf onshore prospect at an industrial gas price of $11-12 per million British thermal units could generate gas revenues of $100mn. Analysts at Auctus Advisors estimate that each onshore prospect under the new license has an unrisked value of 2p per share, assuming a similar value per barrel of oil equivalent as for Anchois and a 25 per cent working interest held by the Moroccan state company. The fundraise clearly makes strategic and commercial sense.

Furthermore, with Auctus risked valuation of $630mn (44p per share) for Anchois’ 2C contingent resources of 637Bcf three times the company’s existing share price, then a successful farm-out and financing of the flagship project should act as a major share price catalyst. Both broking houses have a 60p per share core net asset value valuation. The open offer is worth taking up and the shares, which are marginally below the offer price in my last article, continue to rate a buy.

[888icb] 12/7/2023 23:51

Simon Thompson of IC today:
Chariot (CHAR:15.3p), an African-focused energy group developing and delivering transitional energy projects, has raised $15mn through an oversubscribed placing of new shares at 14p. The goal is to fund a drill programme on a new onshore Moroccan licence and for working capital. On the 11 July 2023 record date, existing shareholders are entitled to participate in a one-for-58 open offer that will raise an additional $3mn. I would certainly take up your allocations by the 31 July deadline.

As I noted a fortnight ago, the directors are in the final stages of selecting a farm-out partner for their flagship Anchois gas development project in Morocco. I can now reveal that an announcement will be made shortly, which could materially provide the financing of the development capital to first gas and significantly reduce the risk of dilution to shareholders. I can also reveal that investment bank Societe Generale is in ongoing discussions with a consortium of European and Moroccan banks which have “indicated their appetite to provide debt finance.”

[nibble] 12/7/2023 08:26

Fair comments, everybody. Hope you are proven right and it's a case of me getting too cynical after so many years ;-)

[marvelman] 12/7/2023 08:11

Patience and nerve required now..but dosn't feel that will be needed for long

[hsfinch] 12/7/2023 07:27

The cash raise takes the pressure off short term cash flow issues. Stops potential partners squeezing a minnow in final negotiations. I expect it to pay off big. Smart move.