You are binned mate....complete waste of space,in Spain lol??.....why don't you get out there and enjoy yourself,you sound like you're tetired and old so why spend your time on here everyday,you sold up!!
In the bin again,annoying me far too much,I suggest we all do it then he'll be chatting to himself!!
Voger you'd be ok stating the facts of the past but you dont understand business finance.
We could buy the processing plant with this latest money and be making further $300k per month or over $3m a year.
$10m in debt requires interest payments of circa libor plus 8% max for this steady cash generating business, thats $800k for every $10m in debt. For 2x interest cover say $1.5m EBIT for $10m debt.
In 3 months we could go to a bank, oh we have a good payment history and realtionship with a bank currently and leverage our future cash flows (backed by contract and payments from a MASSIVE British Private Equity Fund) and raise $40m easy!
Foo said no drilling until we get 10scuffs. No dilution. My figures tends to align with Foo's statement. Reading between the lines and based on his more conservative running of the business communications I am leaning to this being the case.
The past is the past and he inflated forecasts to get equity in or the business would have folded with no Grimm and no debt appetite to be obtained in a credit crisis.
Existing PIs got burnt, but new PIs will be handsomely rewarded, existing ones will get there money back in time. Yes, yes, yes, this isnt fact but investing is making some assumptions and my assumptions are:
Get power on line - 10 scuffs. Go to bank with business plan and forecast cash flows to raise debt for drilling In the summer go to the main market whilst having Numis go marketing the business to some proper IIs who like steady cash generative businessed in a energy starved, high growth, stable, sub-saharan country.
I had a meeting with an African focussed Equity Fund with $200m under management and i mentioned VOG and they had heard of them......its just a matter of time my friend. I know time has not been your friend with this share but it really is a great looking business.
I hoope you are enjoying the Spanish sunshine - 2015 is a new year ;-)
jim you have only just got the money from grimm from a year ago, can't see any more coming in the near future, can you really. Re big power,lets go back a year when we were told big power was coming on line and we would hit 12 scuffs, as i said before that target was with one power station, today its two power stations and it now only going to be 10 scuff? There is not the market here,and this is starting to show now. why has foo not said what scuffs are being used by these new connections? because he knows they are that small they would shock people. imo.
i think people really need to look at how grimm and his 40% will effect the profits here. its easy to look at the numbers and for get that its only 60% coming to VOG.
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