What is positive about the RNS? nothing that we didn't know already? why would you order more gens which we may or may not be paying rent on when you can only install half of them. "Extensive surveying of customer sites and power transition planning must take place before engineering work starts" how extensive? how long have the gensets been out of customs? has this "Extensive surveying" already been performed?
lutonnews. I appreciate all the smoke and mirrors we have witnessed over the years, and on many occassions, been gutted when things were going truly pearshaped and we were stung by a massive dillution. But times have changed, and the company is now going in the right direction. I just wish some posters would change the record. No matter how good an RNS is, there will be some that will dissect it, purely looking for something negative to say. The RNS today was in no way negative. IMO. Things continue to move along, abeit slowly.
I would be very interested to know the cost of the pipe line.
If I were going to the event on Saturday I think my questions would be,
How much do we currently have in the bank? How much will this pipeline cost us? How much are operations costing on a month by month basis?
VOG miss targets, its as simple as that. They must not allow this network to overun even if it is fixed costs. All the time precious resources are diverted to this pipeline directors and workers wages are getting paid out and the group are burning through a back log.
I still maintain that they would hae been better to focus on the cronic underperformance at Logbaba operations, esure the scuffs etc are up and once the company is cash positive frankly they can spend the money how they wish without risk to shareholders.
What must not happen here is a RI in 18 months time. Once the next one comes, and I think that mid term there is a good chance of that, it will pretty much be game over.
I shall continue to sit on the sidelines with my banked profits for the time being. I am still awaiting a gamechanger and at the moment one is not in the pipeline.
So the river crossing is at this stage only scheduled to start drilling in May, so that could be near the end of May and take approx 40 days, so we are talking about end of July for pipeline completion, then customer connection could be August. First genset ready for connection in May, the other 2 who knows. I think we will be very lucky to get to 5 scuffs by year end.
Hi rodlin Two sides to the coin here. Self defeating yes , but some of the tosh that KF has spouted deserves an explanation. Probably only way to get a decent response by conversing directly with the man. From my experience re vog presentations / agm etc. Shareholders who attend usually return home with a positive feeling as they would have been told exactly what they wanted to hear, not unfortunately how it is. The RNS was more or less what I expected with one nice surprise, although imo far too brief for an operational update. I am with you regarding being at ease with my investment here and happy to hold for the longer term . Bit of the rabbit and the tortoise syndrome with vog . I hope the ruddy tortoise at some stage decides to sprout wings. ATB
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