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Ah nice to know Dan, I am sure everyone should be made aware about that with their current Venture then :0)
I am obviously not Dan Maling lol so couldn’t comment.
My impression was that they were great at getting mug punters to buy into a dream.
Some of them are still invested!!
RIFL
Seems you assume a lot Dan. I have no idea if your numbers are correct, but shareholders will consider it a waste of money if they do not sell the asset but we have paid for their time.
All imvho of course Dan.
PS when you and Neil opened the data room back in 2012 and again post NT2, how much did you think you might get for a farm-in/sale, I remember you and Neil touting $100 million valuation post NT-2 drill?
I didn’t say it was a waste of money Chris.
I take it you agree with all my points then if all you could find was a straw man?
Fully agree cperkin
Pot and kettle there Dan.
Yes a retainer will be a complete waste of money if they do not deliver a worthy sale price for Ruvuma and Kiliwani but worth every penny if they do.
Oh and £335k in directors share based payments.
So not only will the £1m be used up on these items, we will need to find £75k from our savings.
That enough detail for you AA?
AA more personal abuse from you.
So Chris has said G&A of half a million. So that is half gone.
We know Gneiss are on a retainer (I.e. money for producing nothing). This is open to speculation as the details have not been provided. My assumption is that it will be I. The region of £20k a month. So over 12 months £240k.
Mrc, you start a post with "let's be honest " and end that post with IMHO.
Sandwiched between that is followed by " cash injection will be mostly used to keep the lights on and the BODs appetite for remuneration satisfied. Maybe a few 100k will be slung the way of Gneiss?
Basically you can print anything you want and get away with it? No need to back it up with proof or fact just your opinion?
Most of us know that your opinion is skewed and vengeful but as you have no empathy for shareholders, you are free (seemingly) to say what you want about the company.
Let’s be honest, the recent cash injection will be used mostly to keep the lights on and the BODs appetite for remuneration satisfied. Maybe a few 100k will be slung the way of gneiss.
Not much left over for anything to add shareholder value IMHO.
Yes I think that's what they said in the interview that Frank organised Aimster.
The Bod have also said that the $1 million is also for another AD type deal. So they are either confident of selling the Tanz assets or confident of funding Tanz as well as more AD?
CPerkin
Just for clarification hasn’t the £25k per month from the AD deal been identified for re-investment,rather than income. Ie they’ll never see it.
you might be right ;o)
27-Oct-21 16:09:34 1.055 2,719 Sell* 1.05 1.15 28.69 O
27-Oct-21 14:28:39 1.055 172,830 Sell* 1.05 1.15 1,823 O
27-Oct-21 11:11:48 1.055 1,654 Sell* 1.05 1.15 17.45 O
27-Oct-21 09:24:29 1.055 94,787 Sell* 1.05 1.15 1,000 O
26-Oct-21 13:38:03 1.055 7,056 Sell* 1.05 1.15 74.44 O
26-Oct-21 13:09:20 1.0845 1,952 Sell* 1.05 1.15 21.17 O
26-Oct-21 12:50:05 1.055 9,383 Sell* 1.05 1.15 98.99 O
26-Oct-21 11:14:23 1.055 26,910 Sell* 1.05 1.15 283.90 O
26-Oct-21 10:34:07 1.055 35,500 Sell* 1.05 1.15 374.53 O
26-Oct-21 10:26:26 1.055 9,628 Sell* 1.05 1.15 101.58 O
26-Oct-21 08:46:37 1.055 94,787 Sell* 1.05 1.15 1,000 O
25-Oct-21 16:22:20 1.055 85,309 Sell* 1.05 1.15 900.01 O
25-Oct-21 12:25:58 1.099 9,099 Sell* 1.05 1.15 100.00 O
25-Oct-21 10:33:47 1.0618 819,287 Sell* 1.05 1.15 8,699 O
25-Oct-21 11:29:48 1.05 482 Sell* 1.05 1.15 5.06 O
25-Oct-21 11:29:48 1.05 117 Sell* 1.05 1.15 1.23 O
25-Oct-21 11:29:38 1.05 190,477 Sell* 1.10 1.15 2,000 O
25-Oct-21 11:01:09 1.10 41,455 Sell* 1.10 1.15 456.01 O
25-Oct-21 10:56:39 1.10 41,455 Sell* 1.10 1.15 456.01 O
25-Oct-21 10:49:44 1.10 25,000 Sell* 1.10 1.15 275.00 O
25-Oct-21 09:13:08 1.10 227,273 Sell* 1.10 1.15 2,500 O
25-Oct-21 08:31:19 1.113 8,066 Sell* 1.10 1.15 89.77 O
22-Oct-21 13:04:20 1.113 964 Sell* 1.10 1.15 10.73 O
22-Oct-21 12:05:07 1.15 86 Buy* 1.10 1.15 0.99 O
22-Oct-21 12:05:07 1.10 8,000 Sell* 1.10 1.15 88.00 O
22-Oct-21 12:04:48 1.1083 547,500 Sell* 1.10 1.20 6,068 O
22-Oct-21 11:49:08 1.121 25,000 Sell* 1.10 1.20 280.25 O
22-Oct-21 11:48:13 1.121 4,792 Sell* 1.10 1.20 53.72 O
22-Oct-21 10:41:49 1.1666 25,455 Buy* 1.10 1.20 296.96 O
22-Oct-21 10:29:57 1.18 55,974 Buy* 1.10 1.20 660.49 O
22-Oct-21 08:46:01 1.112 90,647 Sell* 1.10 1.20 1,008 O
21-Oct-21 16:22:17 1.125 60,000 Sell* 1.10 1.20 675.00 O
21-Oct-21 11:42:02 1.125 65,000 Sell* 1.10 1.20 731.25 O
21-Oct-21 11:21:12 1.145 500,000 Sell* 1.10 1.20 5,725 O
21-Oct-21 10:36:10 1.145 134,421 Sell* 1.10 1.20 1,539 O
Definitely not enough in the kitty for the 3D + the drill post 1st AD deal, never mind if they do another one steve.
Total cost for 3D + CH1 drill = $6.25 million
Held group cash at 30 June 2021 of £2.3million
They should receive $150,000 from the tax resolution in Nov.
They just received a further $1million from the Prolific basement facility
They have up to another $3million available from the above.
They have at todays value a further £368,000 in HE1 shares.
They have around £25,000 per month income from the AD deal
They had to pay £1.2 million for the AD deal
They said G&A will be in the region of £0.5 million this year
So they will need money in 2022 if the asset is not sold first.
If they do keep to drill the problem is money.
They need it for the drill and for acquisitions to expand the biogas business. That is why logically a complete sale is the only option. Unless the boards strategy changes once again. If they did I would think that would be the last thing they would do as directors of the company.
I agree Aimster.
I truly don't believe they have any serious contenders interested in taking it off their hands.
Therefore I wouldn't be surprised to see them having to raise/commit to drill, to the pleasure of some on this board.
Each to their own, every single one of us is entitled to an opinion, but I would much rather they got rid, proved themselves once and for all, and stopped riding that old "legacy asset" train.
Aimster you missed the tax resolution on the 15th October with payment due by about the 15th November don't forget it is both kiliwani and Ruvuma that are now for sale :)
How long has the data room been open for a Ruvuma sale? 2-3 years? And not a whisper of anyone who’s interested. First it was the farmout, then it was the 2 year license extension that made it easier to sell, now it’s the seismic start date and 2022 work program. How much longer are the BOD going to string us along? MRC please do not reply!
Afternoon Frank.
So really just two options keep to drill beyond this stage will of course require much more money. Or sell completely and reinvest the money growing the existing investment many times over in a relatively short time frame. Looks like that elusive dividend will have to wait.
agreed Steve with Dan/Colin constant negative rants rightly/wrongly people get bored and move on very quickly with these small caps, November the month for some so coming into the Zone or at least we may know if we are going to a drill, if they are selling they need to raise the options tho as I hate this board to get a free lunch on NR legacy asset (sorry) but they need to work for there cheese and AD is unproven due to it being just completed !!!
Could be a buyer would want in before the asking price increases. Still hope for a complete sale although a smaller cash sum and 5% to 10% free carry may go down better with shareholders.
Although the board have reiterated that they want out of fossil fuels and focus on renewable energy biogas etc.
And up until now ARA have been a excellent operator.
Afternoon steve, 3D starts on the 15th November and the price starts to increase, first target is around the well position for CH1.
Afternoon Chris.
The sp needs news soon.
Hope it's the one we expect?
Well it did not take you long to drop to your usual level of low intelligence then Dan. As per usual when you are getting owned on the BB's you resort to insults and no doubt will be getting the threads deleted which is your other losing tactic.
Soon be Christmas Dan :)