Crossing of the Wouri River by Britanica is now due to commence in July following delays awaiting necessary Auger parts that have now been received. The Auger has been set up and all equipment is currently undergoing commissioning and testing. Britanica's steering engineer and technicians are due to arrive on site at the end of this week. Preparations on the West side of the river to accept the shot have been ongoing since June. The pontoon to carry the pipe on the river is on station and the pipe is in place ready to commence welding. ng this.......
well i see it like this, foo said depending where you read or listen, that grimm will have to pay $10-20 mill, not a bad spread that. now depending how you read the statement re start of audit it could have started Q1 or Q2. very muddy water as usual Then we hear the finance director does a runner.(not with our money i hope) so what would any sane person think. just add 2+2 and you get 4 your right add 2+2 and get 5 your wrong. i get 4 so can see that there is a problem, result now slipped into Q3 or Q4 but whats a quarter here or there, par for the course.
when there is some news to be positive about. and i don't mean news of jam tomorrow. until then, if someone wants to tell readers how good things are going to be, because foo has said this or that is going to happen in the future, i will balance that out with facts that what he has said in the past did not happen. only fair if you ask me.
JRich20020 i think you are wrong from RNS 24th January 2014 quote
'The audit will be undertaken by an independent auditor, jointly instructed in accordance with the terms of the Operating Agreement. The audit is to commence in Q1 of 2014 and be completed within 90 days.'
If Grim is jointly instructing the auditor he will be bound by the outcome and will have to pay whatever the audit report says is due or back in default.
Note the extract below from the interim accounts. April could mean any time to the end of the month. Hence 90 days will be the end of this month. Allow 4-6 weeks to issue report, it will most likely be September before cash is received.
"The audit is due to commence in April 2014 and will be undertaken by an independent auditor, jointly instructed in accordance with the terms of the operating agreement, and will be completed within 90 days of commencement."
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