Solo are exploring various funding options.
Make of that whatever you will
Or have they enough asset backing to raise some credit.
Lets just hope they dont turn to the Yorkville death spiral
Based on previous experience I'd say the latter...historically Solo do seem to go down the share dilution route! But maybe they'll surprise us by offsetting a loan against gas sales income!?...no...me neither!
Further to previous comment, the fall in the Solo SP could be the result of reading into the statement that Solo may lose out to Zubair Eclipse Investment, although the Solo RNS makes a statement of reassurance
'Solo continues to make its own plans, in parallel with Aminex, to fund the eventual development of Ntorya, which we anticipate will follow the Chikumbi-1 well.'
Aminex SP holding yet Solo SP falling on the same announcement.
The first bullet point in the AEX RNS is relegated to an add-on sentence after the second to forth bullet point on the Solo RNS. The relevant piece being ' affiliate of the Zubair Corporation, as announced on 21 March 2018.'
I've reiterated my comment on the AEX Discussion below
The first point in todays RNS is:-
The Company continues to be in advanced discussions for a farm-out transaction at Ruvuma, including the Ntorya appraisal area, with an affiliate of the Zubair Corporation, as announced on 21 March 2018.
The affiliate of the Zubair Corp mentioned on 21st March is Eclipse which is shown under the 'Areas of Expertise' on the Zubair website as Eclipse Investments:-
Eclipse Investments LLC is established in Dubai, with an objective to manage Investment related activities in UAE. Equity Investments of regional/international nature are the primary activity of this company.
No doubt Eclipse will be able to put forward and fast track to AEX any other 'Areas of Expertise' that Zubair can contribute particularly in Energy & Logistics and Engineering, Construction and Contracting.
68% down in 12 months and just about at it lowest ever price ( looking back over 10 years, lowest I can see is 3p back in March 2009(equivalent after the split) and that was with no income. Shocking and no doubt there will be another cash call soon where the PI's will not be allowed to participate.
Just got a live price of 3.446 .. that's got to be the end or me and Primary Bid.
They are not as good with offers as the other brokers involved in this particular thing.
overnight jobs and weekend much the same.
Well you wrote a lot of stuff there uthread.
A placing did come Primary Bid overnight job.
I promised myself id stop taking there offers as i can always top up cheaper a few dealing days after , but i am addicted and thought this one just might be different.
Winny advised against even though they make commission if there readers do .
Disappointed to see you only post on this share never a good sign .
But what specifically made you think the bod might be lining up a placing enough to post about it?
The process you outline is a familiar one, you could say it of most if not all AIM stocks, it goes with the territory. This happens over a long period though while most private investors invest in short to medium time frames. There are circumstances where placings and consolidations are beneficial, to see them as solely cynical (or bad news) is wrong I think. Institutional Investors take large positions in AIM stocks all the time and they're privy to more and better information than us PIs. A big new II is often a feather in a company's cap isn't it?
AIM isn't a casino, it's risky like a casino but it's not an all or nothing bet, you can't research red/black and the outcome depends on the aggregated opinions of a group of ppl with the wherewithal to act and all that entails, not chance. To conflate the two is disingenuous.
Solo has multiple assets with variable rates of return. These are its surety, from flowing gas to prospective stakes. We might see farm-outs and sell offs, Solo might become cash rich. How much is it worth then? All ifs and buts but the one constant is time, it all takes time. I've been 80% down in a stock in the past and came out doubling my money. It took time. And a stubborn streak. It's only after, that you wish you'd bought more when they were so damn cheap.
Ppl lose money because they sell when the price is lower than they paid. Obviously. But let that sink in. Don't sell when you're showing a loss unless the company or its project looks like it's going belly up or you bought on a spike. Apply some time. To buy or scoop up Solo atm you'd think you'd be the type who is prepared to wait. That number is growing. At some point I believe it will outweigh the ppl who aren't prepared to wait. When there is a large enough group of ppl with the wherewithal and inclination and when there are more reasons to be cheerful than not then the stock will trend up. Ppl like to buy a stock that's trending up and you'll often see a snowball effect and fomo. This happens sometimes for no good reason (e.g bitcoin,tulips lol) so why wouldn't it happen when there are good reasons.
Solo *are* a jam tomorrow company. That's what they do. Early stage, large potential projects. They don't profess to be a large production company. Maybe you should turn your attention to BP or similar if that's what you want? Their investments are inevitably 'blue sky' but they have a good rate of success with the drill bit and then they seek to delineate the prospect and sell it on. I apologise if I'm teaching you to suck eggs, I haven't read up on your old posts, but I don't think there are any good reasons to believe we are being 'lined up for another cash call'.
Opinions and theories are my own, obv do your own research and due diligence.
Aim is a casino.Over 90% of 'so called ' investors lose money, any ii with cash to invest would need much more info than you or I are privy to. Who would invest large amounts of cash without some sort of surety of return.
In my opinion,this company is a'jam tomorrow ' outfit .Their investment in blue sky projects may eventually be successful , but way down the line,meanwhile more share issues ,maybe a further consolidation etc. The phrase' riding the gravy train' comes to mind.
Hi Marc, what do you put the last 12 months sp performance down to? I haven't been invested as long as you, just a few months. I thought we'd be north of here by now but I'm sanguine, it'll happen. There's a school of thought that says when a stock is unloved and overlooked that's the time to buy. Dare I say, add?
The presentation is well worth a look, particularly their development pathways.
Why do you think that? We're not short of funds atm. Anyway bringing an institutional investor in via an accretive placing might be well received and a good move. I think Ritsons recent big buy has set a marker the market is observing, a placing at the right level might be a step forward.
"We are delighted to see Helium One taking considerable strides forward both corporately and operationally. Helium One's possible IPO represents a real catalyst in terms of their growing profile and their ability to fund an active near-term work programme in Tanzania, which is expected to see drilling later this year."
Tom Abraham-James, Helium One's Chief Executive added:
"We have been reviewing our long-term funding options for some time and are beginning to focus on an IPO as most suitable for us. The ASX is a proven capital market and one in which our team has considerable experience. We would like to thank Solo for their continued support and guidance and look forward to an exciting year ahead for Helium One and all its shareholders."
A list on ASX
Needs more funding (we knew that)
Loads of Helium under Rukwa in a rising market.
Looks like the H1 investment decision was a good one and its a shame we didnt take more when we could !
Yesterdays trades included a sale or buy of one share.Some say that it a code used by the MMs to signal an Rns in the system. That one share was immediately followed by a large buy at full ask,think you are right about something brewing.
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