Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Crazy T
The lead bank signed off in 1H Jan 24.
DD was prior to that, and sensibly cannot now be relied upon (as outdated).
It’s way longer than a few months, and deals of this size don’t typically take anything like THAT long to progress from DD & VAL to credit approval.
It is atypical.
Absolutely nothing unusual with the time being spent by the 2nd bank.
A few months is irrelevant for them when signing off tens / hundreds of millions on decades long projects.
Harry gave himself plenty of time for some news on Saudi to appear before the end of June as I can't see anything happening with TK
Yep, clearly a 'problem' with the 2nd bank. Harry needs to update his (loyal & long suffering) shareholders!
Olmsey - per stock market rules, price sensitive information must be released ASAP. Not saying you're wrong, but absence of evidence is not evidence of abscence, it just means it's taking a bloody long time, which we're all well used to anyway!
"Mark Twain said the definition of a gold mine is 'A hole in the ground with a liar standing at the top.'
SB - I also worked for the same bank!
I have no doubt that the 2nd Lender said "no". So HAA is trying to find another. Hence the delay
If the DD was concurrent - I am not sure why this is taking as long as it is taking for 2nd bank approval.... anything HAA does, there is always smore and mirrors...
They're on tiktok as well - no dancing though
https://www.tiktok.com/@mom123_
Has Harry purchased a Shovel yet to dig everyone out of this hole.
Any money come in yet ? no didn't think so the con man has done well for himself.
I dont have access to that, please would you be kind enough to share some of the information?
Well, who would have thought the MOM in Ethiopia have a telegram group. Some interesting and exciting info in there.
Fantasy..
I made the point about DD being concurrent a while back, and also detailed that some information is shared across the syndicate, as it is provided (under separate cover) by senior firms who are engaged ‘once only’ to carry out project, asset and financial due diligence (FDD) for all prospective lenders.
Further, if it’s not done co-terminus then lenders are benchmarking information relating to different periods of time, which is inconsistent.
I took a load of flack from the “I worked for the Midland in Chichester for 25 years” posse at the time, but this IS how it’s done.
As to the second lender - I can only assume that their dominoes are super-glued to the table… the timing difference (with a reliance on the same work) is completely baffling to me.
Fantasy, remember the RNS (13 Feb 24 BEFORE the pump to get the Placing away?!). Hmm, now the end of April......
'The Company can now report that all the other parties in the funding syndicate, have advised they will this month go to their respective committees to approve the proposed transaction.'
Q: Did it surprise you that the two main Tulu Kapi financing banks did not carry out their due diligence concurrently rather than consecutively?
A: That is not correct. Due diligence was concurrent. Formal approvals sequencing is a chain of dominos.
Posted 12 March 2024
- DD was concurrent. But approvals are sequenced. So why has the 2nd bank so long for formal approval after concurrently completing the DD?
Kefi in other words mean “life style”… 👍🏾🙂
Https://www.greekboston.com/culture/modern-history/kefi/
does this apply to shareholders?!
All the projects listed there are projects post launch with the amount given or loaned listed and its down to the AFC now.
No sign of Tula Kapi on the TDB project or news items. https://www.tdbgroup.org/projects/
Yeah why so long? The lead bank only a couple months.
Number 2 this week, number 1 this year (maybe)
Two main pieces of info required:
1. Update on the 2nd Bank and if not signed off, when it will be. (This is very important now as into 4th month.)
2. Update and DFS on SA.
Without any of the above, further weakness is predicted.
Yes the 0.55p held so far and on a friday which is an encouragement,if we can hold on for another 3 sessions we might start seeing some progress again.
HtTps://www.youtube.com/watch?v=8OL1vWVj_7I&list=PLE1y8hGSqr8ar1gKUdfqFDK5ygLIlrdmz&index=1 live from the vault (gold)
htTps://www.bnnbloomberg.ca/investing/video/ivanhoe-mines-founder-copper-market-weakness-is-temporary~2694067
htTps://www.cruxinvestor.com/posts/perseus-mining-rapidly-expanding-gold-growth-story (Saudi and african mining last five minutes Saudi)
htTps://www.zerohedge.com/news/2024-04-19/why-gold-shrugging-rates-and-inflation
0.554p UT but spread 0.554 v 0.56p / once again SP has bounced up from the support
chart with comment ..https://uk.advfn.com/p.php?pid=chartscreenshot&u=q9/tcHxeFL08FnfU7oVRBriq5O2h01SrOwniHyG6h9I=