Reabold Resources Share Discussion Threads

[isaseeya] 28/2/2018 08:35

Anyone know what this sort of dilution will do to the share price. Should BMD be right about the number of new shares to be added?

[soulsauce] 27/2/2018 20:57

OK fair enough Lee.

[ileeman] 27/2/2018 20:41

Not calling UPL bad just stating a fact, UPL had a large ii backing with a raise at 1.35p when the price was 1.8p-1.9p...that is fairly discounted.

But its up over 100% since the raise so that is very good.

Not all raises are bad.

[soulsauce] 27/2/2018 20:11

iLeeman I hold both upl and matd and with matd to some extent I agree with you but it is rather a stretch to say upl had a big discounted raising just to make a point here.
Until the wick investment upl had been between 1.25 to 1.35p for months. It was only a short period after the wick investment that Tune invested at 1.35p. It had probably been in the workings before the wick news and in all probability is not for Wick.

[ileeman] 27/2/2018 20:00

Chatter is 0.55-0.6p £7million+ with asset news and some institutions backing.

If true then that is a very very good price and we also get iis backing and also more news on another asset.

To place near the current share price is amazing when you look at the likes of MATD, UPL and CHAR etc. Dont forget UPL and MATD had big ii backing and heavily discounted raises and they have done basically 100% each.

Price is not that important though, the important part will be the asset they are eyeing.

Exciting I think.

[jungmana] 27/2/2018 17:41

We have enough funds (about £3m imo) to go on for at least till Colter drill results. By then the share price could be above 2p and would have been the appropriate time to do a placing. All talk should be about Colter now and this checking of appetite for placing is a distraction imo

[simonsaid1] 27/2/2018 16:40

Sammy, if you saw the email I got from them today and shared above, you'll see that they have already said they won't be raising if it's not shareholder-accretive - and never for drill costs. Here it is again:

Raising at those kind of prices could not be called 'shareholder accretive' in anything but the most extraordinary circumstances, and I think the likelihood approaches zero.

[soulsauce] 27/2/2018 16:33

Simon of course they have. The experienced upl crew showed them how to read seismic.

[simonsaid1] 27/2/2018 14:58

Reading between the lines, the jump in equity in Wick from 25 to 40% tells me Corallian have received some info about Wick and are getting more excited. Dead giveaway will be if Reabold suddenly add it to their website!

[cashandcard] 27/2/2018 14:48

"Corallian has informed the Company of its intention to raise additional capital ("the fundraise") in order to increase its exposure to the Colter prospect from 40% to 50%, to increase its exposure to the Wick prospect from 25% to 40%, and to further progress additional assets including the Oulton prospect. Following the fundraise Corallian will be fully funded for all of this activity"


I would happily see Wick put back and Oulton brought forward.



Cash

[simonsaid1] 27/2/2018 14:40

It's true, Reabold don't even list Wick on their website. It's a more speculative play and not what they bought their stake in Corallian for. They bought that for Colter - which is very loudly on their website and talked about all the time.

Wick was a 'bonus' and on the rare occasion they mention it, that's how they frame it.

They may even dispose of all or part of their Corallian holding after Colter rigs down to raise money for a new asset. That is, after all, the business model!

[ileeman] 27/2/2018 14:01

True Spangle but just pointing out its not RBDs main play. They even mention in a presentation they basically got Wick for free.

[spangle93] 27/2/2018 13:57

I'm not sure that Wick CoS has been publicly quantified by UPL (I can only find "low risk"), but I think you're mixing CoS's by comparing them? Colter and Oulton AIUI are discoveries, whereas Wick is a prospect

[ileeman] 27/2/2018 13:31

You make a good point soulsauce but Wick is not the main play. I am sure they can pull together a small increase in Wick if they wanted to, eyes will be on Colter increase.

Colter and Oulton are the main UK plays.

Wick is only 25% CoS if I recall and was a bonus for RBD.

Colter 58% CoS
Oulton 64% CoS

[soulsauce] 27/2/2018 13:23

Yes I know that ileeman, I am a upl holder that is not my point.

[ileeman] 27/2/2018 13:21

UPL only farmed into Wick, they have not got exposure into all the licences like RBD.

[soulsauce] 27/2/2018 13:17

Simon what idiots (Corallian) would farm out acreage and then look to buy it back?

Are you suggesting that Upl would give back some of their 40%? At what price?

[simonsaid1] 27/2/2018 12:59

Soulsauce you're close but not quite right. Corallian can buy their increased stake from any of the JV partners, and no doubt that's what their RNS alludes to. Will learn who sold what to whom soon.

Sine RBD have maintained their stake in Corallian, any stake enlargements are net stake enlargements to Reabold too.

[croasdalelfc] 27/2/2018 12:53

IT sounds like Corfe have virtually farmed out all except 5% of Wick40% UPL15% Boil40% Corallian ( with RBD net 14% unless they have increased stake in Corallian)5% Corfe

[ileeman] 27/2/2018 12:51

The drills are fully funded, if Corallian up their % then ofcourse that would require them to use more cash.

RBD can cover this no problem with existing cash, the only reason they would raise is to bring an a stellar asset, Simon's email repsonse confirms this.

[soulsauce] 27/2/2018 12:45

A bit of a change to the last RNS which stated Corallian were hoping to up their stakes in both projects and raising money to do so.

[simonsaid1] 27/2/2018 12:44

Also remember Corallian just enlarged their stake in Colter from 40 to 50%.

Due to Reabold participating in Corallian's recent raise and maintaining their stake in Corallian, the same enlargement is therefore passed on.

This means any maths done on Colter's value to Reabold has to be redone! Good news.

[cashandcard] 27/2/2018 12:38

RNS out

Stephen Williams, Co-CEO of Reabold Resources, commented:

"Upland Resources' and Baron Oil's farm-in to the P2235 Licence are two of multiple farm-in processes which have been facilitated by the execution of Reabold Resources' stated strategy.

We look forward to updating shareholders on further progress on the Colter and Wick licences which Corallian Energy, who are fully funded for both well projects and which Reabold have a 35.4% interest in, anticipate to begin drilling in Q2 and Q3 2018 respectively."


Fully funded!


Cash