Reabold Resources Share Discussion Threads

[simonsaid1] 26/2/2018 14:01

Lot of chancers arriving here looking to bottom-feed.

The RNS says they're exploring appetite for a placing - this means institutional money, not PI. It also confirms this is for something new.

The only reason they would raise at this sensitive moment is the offer of something too good to miss.

[5chipper] 26/2/2018 13:42

If all goes to plan could present a very nice buying opportunity sub 0.5p imo

[1hopefultrader] 26/2/2018 13:41

not great is it

[the deacon] 26/2/2018 13:36

Yup Chipper

[jungmana] 26/2/2018 13:35

Should be clearer by end of the week. Cant see a placing below 0.6p

[5chipper] 26/2/2018 13:34

Unless they are happy for the shares to dip a bit so they can raise at a "premium"

[the deacon] 26/2/2018 13:30

Confirmation they're exploring possibility of placing. Should have suspended with that statement. Wait for lower entry...

[jungmana] 26/2/2018 13:18

Cant understand why anyone would sell at this level with colter rig mobilisation just round the corner. A multibagger from here imo.

[cashandcard] 26/2/2018 12:35

Malcy's 2018 bucket list includes RBD;

"The last new stock into the list, until the June review when I anticipate adding a couple of stocks that should have second half operational activity is Reabold Resources. I have written about this stock a few times recently after I met its joint founders, former fund managers Stephen Williams and Sachin Oza and liked the model that they are creating at RBD. Investments in Corallian Energy, giving exposure to the Colter prospect in Dorset and Wick in the North Sea as well as Danube Petroleum in Romania are only the beginning of their plans I suspect. Having said that, the recent rights issue from Corallian has meant that they have had to put more money in to that and with imminent potential investments it looks like that they will have to raise money again themselves. I mentioned last week that they had solid support from investors, who share their view that money should not be raised at a deep discount and with rumours of a raise of something between £12-15m and around the current share price the stage is set for further progress. There are risks here of course, a second raise in less than a year and of significantly larger size will provide some indigestion and should there be any slippage in the Colter or Wick wells investor patience might waver but I am prepared to see through that to the very likely substantial upside"




Cash

[1hopefultrader] 26/2/2018 07:42

Fridays update to the major shareholder register shows some major shareholders have either completely sold up or are reducing.

Pelamis: GONE 50 million sold
Jub: REDUCED 50 million
Guiness EF: REDUCED 10 million

Checked against the screenshots of shareholder list on Twitter.

[guyswonga74] 26/2/2018 07:37

No RNS. Strange

[soulsauce] 25/2/2018 17:47

And Tune investing in lil' ol' upl have not done so for access to Wick.

[ileeman] 25/2/2018 17:27

Not necessarily soulsauce, if they do raise that sort of cash you would a lot of it is institutional. As Malcy said they have a big insti backing.

[soulsauce] 25/2/2018 15:59

5chipper upl is the better investment but not for Wick alone but what is to come. Dyor.

I really don't see rbd raising that sort of money at this level as there would be far too many shares in issue and would end up in a consolidation which usually is best avoided.
So may be a suspension and issue of a new prospectus if they really are going to be able to raise that amount.

[ileeman] 25/2/2018 15:59

IF a raise does happen the majority of the raise will go towards a new asset you would think.

If you listen to recent Malcy podcast he says he talked to the CEOs the other week and said they understand shareholder value, he also said they would not do a heavily discounted placing and that IF they came to market it will be for good reason and be backed by existing institutions.

I still dont fully believe the rumours but if the asset is good and the raise is backed by institutions then I think that is a good thing, also a bigger slice of Colter/Wick/Oulton would be nice.

[5chipper] 25/2/2018 15:53

Maybe the articled Reabold fundraising will have a bearing on developments. If rbd have £12m behind them that may strengthen Corallian's hand in terms of pushing the project forward.

If Corallian maintain a 25% interest then RBD effectively have a 10%ish interest at the moment and 16%ish if Corallian increase to 40% (assuming rbd have 40% of corallian).

Whereas UPL have a 40% interest with a similar m/cap. Perhaps upl is more attractive as an investment proposition???

Then again, as you say, maybe upl will drop to 25% in order for corallian to go back up to 40%.

Then corallian/rbd also have the colter play and rbd have their Romanian projects too.

Would welcome an rbd fundraise in order to grab a larger chunk of wick. I guess corallian welcomed a listed partner so they could have an indirect access to the markets. Maybe rbd will make a play for 100% of corallian!? Let's hope all becomes clear over the next few weeks.

[soulsauce] 25/2/2018 13:56

Currently upl 40% boil 15% Corallian 25% and Corfe 20%.

The question is why would Corallian divi up to Upl and Corfe and then look to get back up to 40% and where are they hoping to get it from?

It is obvious since upl ran their professional eye over the seismic that suddenly there is some excitement about it.

May be Corfe will drop to 5% but can't see it. May be upl will give some back in exchange for just paying their part of drilling costs instead of the premium they are currently paying but I can't see that either. Strange play by Corallian all round if you ask me.

[5chipper] 25/2/2018 13:35

Is anyone else struggling to work out the exact ownership structure at Wick & Colter?

Wick seems to have Corallian, Upland, Corfe & Baron all involved. Upland have stated a 40% share, Baron 15% and according to latest RBD rns Corallian are increasing to 40% - which leaves Corfe with 5%??

Or is the Corallian increase going to dilute UPL, BOIL & Corfe?

Seems that %s have been chopping and changing over past few months and it seems a bit unclear as to who exactly owns what. Plus is the Corallian increase to 40% all going to be carried for development to first oil or for just testing, environmental work etc etc.

Also, do we know to what % RBD are increasing their stake in Corallian as that also seems unclear?

Many thanks to anyone able to help here!

[njw2] 25/2/2018 12:18

Odds are this will be at 0.50

[croasdalelfc] 25/2/2018 12:01

The Times says £12m placing likely to fund Corallian fundraise : I guess so there 35% is not diluted plus new investments

[guyswonga74] 24/2/2018 05:40

Took the opportunity to buy so,e more friday

[1hopefultrader] 22/2/2018 21:24

Tiny Mcap vs asset potential

[soultrading] 22/2/2018 19:19

A real treat, I did not expect to get the opportunity to acquire shares at a discount price this close to price driving news. Will not be hesitating.

[goodbloke1] 22/2/2018 14:08

Crazy valuation in my view when you consider the drills it's has exposure to!

[kingkongtimmo] 22/2/2018 12:40

Strange action today