Longboat Energy Share Discussion Threads

[sludgesurfer] 03/6/2024 10:46

They're not gonna cut it loose. It would leave them with nothing but an exploration project in Malaysia, zero revenue (with no near term prospect of any) and significant overheads for a Norwegian focused team left with little to do.Just a few months back they were waxing lyrical about this strong, well-funded, long term JAPEX partnership.They'll take a haircut, defer the upcoming payment or both.Unfortunately in this market, I think the share price will get hammered again either way when they announce it.All imo

[jungmana] 03/6/2024 08:24

"As detailed in the original LJN joint venture announcement in May 2023, the Acquisition Facility is available to LJN for the sole purpose of financing acquisitions and associated development costs and Longboat's partner has reiterated that the Acquisition Facility is not available to finance working capital shortfalls post-acquisition completion. In the event Longboat cannot meet its share of additional working capital shortfalls at LJN in a timely fashion, the terms of the Shareholder Agreement and Acquisition Facility could result in Longboat forfeiting some-or-all of its shares in LJN. Despite these financial challenges, due to its existing asset base in Norway and strong market positioning of LJN, Longboat strongly believes that the joint venture has significant remaining value and is currently exploring all options available to fully" realise that value for shareholders

[pol123] 03/6/2024 08:00

nigelpm, LJP is a subsidiary of LBE. So not a full JV with LBE PLC

[nigelpm] 02/6/2024 21:59

You can't just cut loose a joint venture. The clue is in the title "joint". Assets and liabilities pertain to both parties.

[pol123] 02/6/2024 21:01

optimist or pessimist. This is a bit of a mess. However I remain in the optimists camp. Asia is the prize here not a few hundred bopd. LJP should be cut loose..

Anyone planning to go to the AGM?

[jungmana] 02/6/2024 11:08

Can it go to 50p by December? Yes is possible.
Will it happen? Who is mad to guarantee that?
Last year UPL from a similar low market cap, ten bagged between July and November ( in 5 months) on the back of their Malaysian project. And imo LBE has far better and more advanced projects .
Better to first see what the short term financial fix for Norway jv is . We should hear more over the coming 3 weeks.

[nigelpm] 02/6/2024 08:52

It could be 50p and could also be zero by Xmas. It's all about probability. Neither seem particularly likely to be but zero is probably more likely than even 30p. There is funding gap hence the price.

[kiplig] 02/6/2024 08:09

"This could be 50p by Xmas quite easily....."Hamid, I get you're in pain (as all holders are) but these sort of comments do us all more harm than good. It is so obviously a desperate attempt to induce buying. Let's be clear - I want to see a higher SP, but people are intelligent enough to see the rough silly desperate comments like this. Why not construct an intelligent, fact based argument, and aim for a something remotely reasonable.The facts are that the results have been very poor, and we had cost overruns and need capital. But, management are good people and aren't stupid, but the fact is that there will be a du draining or asset sale - some form of dilution. Yes it looks heavily oversold, but predicting a 700% share price increase in 6 months makes you look desperate.

[jailbird] 01/6/2024 14:06

Thanks JungmanaApologies Zengas , I have seen your post now

[jungmana] 01/6/2024 12:49

See post 950

[hamid1970] 01/6/2024 12:40

Dilution is not a slam dunk at this point. More likely asset sale IMO

[jailbird] 01/6/2024 07:16

Zengas Surprised we have not heard from you after the recent RNS since you were positive about LBE here

[jailbird] 01/6/2024 07:08

Best to calculate the market cap post dilution that market is pricing in How much do ppl think will need to raised ?

[hamid1970] 31/5/2024 22:37

So we got $20m for 49.9% of LJP

That leads me to think that 50.1% would be worth $20m. Lets sell for $20m to Japex, that covers the overspend and leaves a good slug for PLC

[ohisay] 31/5/2024 17:08

I had to think awhile before I thought about saying this but this is close to being one of the the most bonkers valuations I have ever seen in my past 20 years of investing ...
Of course I've been buying today..

DYOR of course.

[cashandcard] 31/5/2024 13:15

They need to find a solution to the short term woes, dominated by Norway, because Malaysia is longterm so market is ignoring it for now. I reiterate, they need to create daylight between the two focus areas. Cash

[hamid1970] 31/5/2024 12:57

I am buying, blood on the street and all that jazz, poor update, but no way catastrophic . Asia alone is worth a shed load more than the share price This could be 50p by xmas quiet easily.....

[jungmana] 31/5/2024 12:22

He had just 1.5 million left as of Wednesday. Looks like more sellers

[stockhunters] 31/5/2024 12:12

not much buy liquidity at this price if he does dump more

[jungmana] 31/5/2024 11:23

I think so too. Should be done today if its him selling

[katsy] 31/5/2024 11:19

Probably his selling out the remainder today. 4 X 250k. Hopefully gone now

[jungmana] 31/5/2024 11:04

Mr Bruce selling out? Tr1 there

[danmart2] 31/5/2024 10:48

AGM is key

It will ultimately decide for my investment to stick, twist or sell

The board have been a major disappointment so far, they have not created any share holder value.

They cannot be trusted

They have a lot to prove at the AGM