The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Highlandmatt's scenario would probably be the preferred option for me, sell half for $10 million which then funds the C1 drill and the 3D and 2020 work programme and then look to either sell the remaining 12.5% post C1 or fund the EPS.
I agree it's likely to be the Zubairs, the Bod say they have had several approaches, so several parties interested according to them anyway. The market price has already been set by the Zubairs as $20 mill with their current offer. No shareholder would vote for less surely?
If that's the case trrime then both AEX and solo have had it and even the Zubairs will walk. In saying that I believe now the PSa's are complete that we are likely to see licence awards soon and movement on this $6.7 million owed to the JV. The Zubairs (APT) are surely the most likely buyer in the market and the closes to what is happening on the ground in Tanzania.
Lets see what comes out of the meeting between AEX and the Gov.
$10m for 12.5% would fund the Ruvuma capex, leave some for leveraging other deals, and still leave us in Ruvuma to reap the rewards post development.
Current market price for 25% = $20 million. With a licence and the approved drill 3d 2020 work programme then add a little more.
May as well.
Would probably be at least another five years before any real return anyway.
A small dividend and the rest invested in producing assets that give us money in the bank now not in years from now.
IF NO LICENCE ARRIVES IN THE NEXT TWO MONTHS THEN SELL OUR ASSET FOR 20-25 MILLION PLEASE !!!
Bob Hope & No Hope !!!!