The drop in sp from £1.50 to 90p was purely based on CEO being dismissed, but this was augmented when Int CEO said it had minimal effect when 20 million was given back.
This mine truly has potential to be world class mine and I do not think chinese would want to see this end up in hands of westeners at a fraction of a price. Esp since it has been them who have provided all onitial capital to get this thing to the state that it is in now.
But what happens now? If the mine is put into admin there is a huge risk that so much effort of 4 years of work might be sold in admin for peanuts. I do not think SISg will eant this so a funding solution either by them or 3rd party could be just round corner. If AMI falls into admin FT will lose his stake and access to railway which he needs for Lond. But there will be another huge risk for him. 3rd parties may outbid him for the sale of the mine in admin which is practically set to run at ultra cost low value and at 25 Mpta pa.
From reading the RNS on 16th and previos ones it looks like AMI were on track for setting a record. I think funds must have been used to upscale the mine to 25Mpta which was mentioned. This upscale was part of phase 2. However, it now looks like pretty certain the chinese are clearly not happy about something. Perhaps the risk of ebola entering the camp also proved a risk
SEPlat have issued a statement on 8th Jan on their website exp they have until 19th Jan to confirm their intention. There is no guarantee yet and they could still back out. However, with the drop in share price and realisation of Kurd oil reserve it might just present a more lucrative buying opportunity.
I think not until we see a major scale back in new projects will we see the oil price back to $100 which I think will take some time.
I think Enq will re-bound to 71p by end of Feb and then hover around at that price. I think with the continued oil crisis and uncertainty it looks like it is going to carry on for a while. Esp. with New North Sea projects (new projects being worthless with oil at $60pb). I do not think we will see the £1 price for quite a while.