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Surely you meant 'No Lands Natural Resources'.....don't think I'll be contributing to Path fund raise anytime soon....
Looks like they're taking over Path as a cash shell. Likely rename and clear out of Path directors. Could be called Lowlands Natural Resources.
I'd like to know how much Eric Anderson & Paul Mendell will be paid as 'advisers' to Path ?..., maybe they're doing it for free?...... let's see how Paths fundraising goes....would be nice to see some return for us long suffering shareholders after years of 'jam tomorrow' from HNR days...jam that never materialised....
AL87 - it is funny you should mention that, when reading an earlier quote regarding Path Investments if it wasn't for the income of HNR i would say it sounded eerily similar. make no mistake, we essentially just gave that away, the fact we got a bunch of shares in a worthless company and 5% royalties. What is 5% of nothing exactly?
As i said previously though, this DTU wasn't even on the radar for me as it was gathering dust anyway and added no value to the company or contributed in anyway. The main focus is on Zoetic and the ongoing revenue stream of HNR until/if that asset is sold.
The gas sale however was interesting, i realise it wasn't bringing anything in financially, but as someone rightly said, this is what lead us down the rabbit hole into Zoetic and from HNR. This is what was touted as being amazing and greatly increasing yields and they sang its praises when trialed with district 8.
The gas sale for me poses two questions, was it initially just BS to investors for which they have a track record and amounted to nothing but guff to sucker investors in? and if not, and it is as good as they say for the crops growth and yields, why have they just sold it to PATH Investments who we will now have to buy it from to grow? something doesn't add up.
I have looked over the announcement here and PATH Investments and i can see the Terms of the Transaction regarding DTU but no mention of what we have specifically been given for the Gas, even the royalties are based off of DTU (for what that's worth) so have we just thrown the gas part in with DTU because DTU uses it? because royalties only relate to DTU so if we want that gas we will now have to buy it from them, as in effect from the terms of that transaction, it seems like we have just given it to them for free with DTU tech which they 'purchased'. If i am wrong on this anyone with insight who can clear it up with some RNS/announcement information would be greatly appreciated.
Taken for a ride? Never producing shareholder returns you say? Hmm why does that sound familiar.