Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I’d expect it’s a Year end tax right off against profit made elsewhere.
So Milton still selling at around 10% of the placing price. Why sell out this low, unless they're making a sly short somewhere?
Whatever scenario that is thought of on an AIM investment, what actually happens is normally something else entirely.
If this is some sort of elaborate engineered scam by DS and JB as some maintain, then AAOG could be taken over by ATOG or another company and PI lose all.
However, some modicum of hope does remain for me at least - Its not over yet and for many there is no point selling, but each to their own - the 3m buyer has some confidence at least.
The AAOG senior board composition is irrelevant until SNPC pay their debt or some other funding is enabled, its now apparent JB is not going to devote any more time to AAOG in the interim period waiting for Congo Govt /SNPC to pay, for what could be months more delay, or never.
However, its also fair to say that all that could be done in their power has been done by AAOG to best position for the drill:
• Pre drill isolation plug installed
• Technical approach completed, tech team enabled for when drilling commences
• Two other rigs identified - as SFP rig offered in June is too late
• A meeting is planned with Oil Minister in Jan for SNPC payments decision
• SMP court date to pursue the funds set Feb 5th
• Licence negotiations have agreed the majority of principal terms
• A $25m RBL funding facility negotiated for post production - completed just four weeks ago.
Why bother with these actions if you have no intention of trying to position the company for success?
A theory could be that JB just lost all patience when SFP pushed the rig date back to June and SNPC continued to stall him on cash despite potential promises made under the Benjamin Makaya regime.
JB set affairs in order as much as he could then resigned, ATOG being much more compelling for him.
Any funding enabled by SNPC and AAOG can move forward on a drill– if no cash contributions then they should default to Mengo rapidly with a work over rig and complete the 101/102 water injection approach fallback position- its not the Djeno, but it is a viable route to survival and the long road back.
The interim CEO needs to do an interview asap to inform next steps.
Saves the company a few £ a month atleast.
jus remember guys dont get involved with the guys who run this before . LEARNED THAT YEARS ago with one of lenni gas pump and dumps .once bitten twice shy
Should have fracked the mengo 12 months ago, but is there anything there? They ripped it out of us to no end... is anything they said credible.
Well you wanted rid of DS/JB got your wish maybe good time for a local to take operational charge with good contacts with ROC/Drill companies someone perhaps from Petro Kouilou .
Leave JC to manage the books just get on with Mengo .