Chariot Share Discussion Threads

[someuwin] 31/1/2024 09:12

Aucus


"Chariot Limited (AIM: CHAR)

January 31, 2024

Share price: £0.09 Target: £0.50

Milestone for the electricity trading business in South Africa

• Etana Energy (49% held by Chariot) has signed a PPA with Growthpoint Properties to supply 195 GWh per year of renewable energy. Etana will wheel electricity to their commercial property buildings located in several jurisdictions in South Africa.

• The electricity that will be wheeled by Etana includes 30GWh per annum of hydroelectric power from Serengeti Energy. The plant is currently under construction and is expected to start production in 2Q25.

• Etana will be paid a fee for the electricity wheeled through the grid.

• While the terms of the agreement have not been disclosed this is an important part of the electricity business that Chariot is building. This is also South Africa’s first multi-jurisdiction, multi-building, multi-source renewable energy wheeling arrangement. • The electricity trading business is not only expected to enhance the margins of electricity generation but also to enable Chariot to secure interests in further power generation projects by capturing electricity commitments. These electricity generation/trading combined projects could potentially deliver double digit returns; which is much higher than similar projects in Europe.

• Chariot is already maturing its interest in 4 wind projects totalling a gross 400 MW using the trading business as the enabler that provides access to PPAs with end-users. It is currently meeting banks and other financial institutions to finance its involvement in these projects through project and mezzanine finance at the asset and subsidiary holding level.

• We re-iterate our target price of £0.50 per share.

Who is Growthpoint? Growthpoint is a publicly listed real estate company trading on the Johannesburg stock exchange with a market cap near US$2 bn. The company has assets in South Africa, rest of Africa, Eastern Europe, Australia and the United Kingdom. Growthpoint owns a 50% stake in the V&A Waterfront and a majority stake in South Africa’s first healthcare property fund. The electricity contract with Etana represents 32% of Growthpoint total current annual electricity consumption.

Valuation While the focus remains on the Morocco onshore and offshore drilling campaign with unrisked value of £0.13/sh associated with Anchois East and £0.11/sh with Gaufrette and Dartois, the power business could become increasingly material. The cost of capital for the power business is also likely to be lower than for the gas business. Our Core NAV for Chariot is unchanged at £0.28/sh. Our Sum of the Parts valuation stands at £0.53/sh."

[devilsprofessor] 31/1/2024 08:55

Lots of reasonable size buys going through! Time for a top up I should think

[wolfofwallstreets] 31/1/2024 08:34

Oh, looks like one of the school leavers is back. On filter so fortunately don't have to read its dreck..

[hsfinch] 31/1/2024 08:28

Happy clappers indeed. The share down at 9p and they're celebrating.

[abbo145] 31/1/2024 08:06

I think maybe the tide is starting to turn here at last. Back to 15 p in a flash imo

[wolfofwallstreets] 31/1/2024 07:50

Looks like we are locked and loaded.

And the terrible trio have slept in..what a good start to the day!!

[devilsprofessor] 31/1/2024 07:17

Another reassuring RNS. What a week it's been. Chariot means business!

[wolfofwallstreets] 30/1/2024 15:27

Best thing xxnjr

[xxnjr] 30/1/2024 13:20

What a surprise! Sadly haven't a clue what the terrible trio are on about as have filtered them :)

[wolfofwallstreets] 30/1/2024 13:15

Well well well..

The bash street kids all posted within 20 mins of each other from 9.44am..

What a coincidence..

[hsfinch] 30/1/2024 10:01

Loool. Remember 17/7/23 when Julie appeared on Proactive Investors TV. He promised 7 wells by the end of 2024. 4 onshore wells. Now down to 2. And 3 offshore wells. Now 1 if you're lucky. 2 if you win the lottery. That's Chariot. Pure bs. 7 wells down to 3. Julie trousered £600k last year. Nice work if you can get it.

[brazilnut1] 30/1/2024 09:44

Gekko you just agree with other peoples things never adding your own opinion. Not really interested in Chariot just like causing trouble on here. Scumbag.

[wolfofwallstreets] 30/1/2024 08:43

Agreed, and a day when the bash Street kids haven't posted at all..another good sign..

[devilsprofessor] 30/1/2024 07:57

Reassuring RNS yesterday and lots of big buys in addition to the director dealing. All looking very good. I expect the usual ST article soon for another bump on the price

[xxnjr] 30/1/2024 07:35

I maintain my target price of 100p.
what on earth is malcy on? Completely bonkers. Something sensible like 35p. or 4X yesterdays starting price will do for starters. Another Director Buy notified this AM.

[wolfofwallstreets] 29/1/2024 23:33

888ICB

Looks like things may finally be on the turn for us...

[888icb] 29/1/2024 23:32

Malcy’s Blog
"I will update more with Chariot when I return but in the meantime this is very good news indeed from the company. With the drilling at Loukos onshore Morocco now imminent and a rig selected, success will be a game-changer for Chariot. The Gaufrette prospect comes first and then the Dartois, and with a combined potential of some 46 Bcf the opportunities are indeed substantial and also very quick to monetise with more to come.

Anchois has not been forgotten in all this, the new partner is bedding in, with farm-out completion shortly, and drilling will start later in the year along with the FID. With continued high prices domestically all these developments are increasingly positive for Chariot and I maintain my target price of 100p."

hxxps://www.malcysblog.com/2024/01/flash-blog-chariot-jog-ujo-europa-gulfsands-beacon/

[wolfofwallstreets] 29/1/2024 16:47

Once again..the BB genius has it wrong.

Wasn't it supposed to be 4p by end of January?!

Who even knows as it talks so much rubbish.

[hsfinch] 29/1/2024 11:31

That money will be gone by July IMO.

[sev22] 29/1/2024 11:12

Chariot drill plans are on track, shares upbeat outlook for 2024.

[mcdermov] 29/1/2024 10:49

Today's announcement included £10 million payment to Chariot.So explain why an invested management would like to dilute their shareholding at the current low SP?Last fund raise was at twice this price.

[xxnjr] 29/1/2024 09:05

Have long since applied the filter button to the terrible trio.
The filter button is there for a reason. Use it!
Peace :)