Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Kashdog - Here is the Sherritt Q1 2020 Report
It states "Total overdue scheduled receivables at December 31, 2020 were US$145.9 million, down from US$159.1 million at September 30, 2020 due to the timing of payments received and re-direction of Moa Joint Venture dividends."
https://www.sherritt.com/English/Investor-Relations/News-Releases/News-Release-Details/2021/Sherritt-Ends-2020-With-Strengthened-Balance-Sheet-and-Well-positioned-to-Capitalize-on-Electric-Vehicle-Market-Growth/default.aspx
Maybe Ascent will fair better in Cuba than Sherritt does. Only time,,,,and money....will tell. DYOR.
oldblue1973 - Just doing my own research as you suggested. I said this long ago on here. For years Sherritt has been having a hard time getting paid from the Cuban government (see the link below). Even if Ascent moves into Cuba, and that is a big if as the MOU is not even a legal document, dealing with the Slovenian government will seem like a walk in the park compared to dealing with the Cuban government. There is no arbitration in Cuba and no national treaties to follow.
https://www.sherritt.com/English/Investor-Relations/News-Releases/News-Release-Details/2019/Sherritt-Announces-Ratification-of-Payment-Plan-by-Cuban-Partners/default.aspx
What is an MOU: https://en.wikipedia.org/wiki/Memorandum_of_understanding
ps5123 - With the proper surface equipment and proper operation the two PG wells could produce for years to come - without fracking. The funds that have been raised in the past few years could easily have paid for the necessary equipment and installation. But now it is gone :(
Rosewall - Salaries have to be paid! BOD salaries, that is!
This has been going on since CH left. At least when he was here, something was being done to increase production.
Since then all that has been done is to keep raising funds to pay the BOD members.
Rosewall - That is exactly what I said! It seems a few on here have different sources than the majority.
Basically, the RNS claimed gas production in Slovenia is virtually non-existent. The "local industrial customer" takes a very small amount of gas each day.
The arbitration is not even mentioned. Why?
And as for Cuba - I wasn't aware that the MOU had an "expiry date". Energetical is not being paid what they are owed and it makes me wonder why.
Now the metal and mining activities are dangled in front of investors.
Is there a pattern here over the past 4 years?
Summers was just appointed to director at Pathfinder Minerals. He is also involved in Emoji Investments Limited, Soho Ventures LLP and Alicorn lv (KNF I) LLP. He was with EXM Management Limited until they disolved.
The common thread of these companies is that they have accomplished nothing.
Usually companies seek director that have taken other companies to success. That is how a director's worth is measured.
oldblue1973 - Take care and relax on your hiatus. Unlike you, I took my own advice and followed the large sells during the upturn. I was in fairly low and out fairly high. Made a good profit. The long term I hold will only pay if the BOD decide to become an oil and gas company. That is why I push for them to do the right things and make the Petisovci field productive. Everyone can profit if the company is successful, not just the institutional and inside investors.
Mysteron - I agree with you. If you are a large shareholder (like an institution or insider) that wants to dump your stock, do it in 100,000 batches and do it 10 or 12 times a day. I have noticed that this has been happening with AST for the past three weeks. Someone or something sold a lot of shares at very high prices without alerting other shareholders by making large transactions. Doing it this way avoids affecting the share price in a large way.
Mysteron - I have read that RNS before. The statement that AST makes is:
"The Company is in the process of beginning preparations for submission of an EIA, alongside the stimulation and field development planning which was initiated recently".
There was no EIA being conducted, just a bunch of sly words, perfectly legal, to make you think there was.
"Process of beginning preparations for submission". What does that mean? It means they haven't started and EIA, they haven't even begun preparing for an EIA submission.
Directors who speak like that either have something to hide or are accomplishing nothing.
It is possible to deceive people without lying.
oldblue1973 - You claimed that Ascent had stated in an RNS, although you can't produce it, that they were currently working on the EIA.
FYI. That document is not an RNS, it is a presentation to current and potential investors and is not a legally binding document. They can say whatever they want in that presentation, and companies usually do.
IMO, Ascent will not start any work in Slovenia, including the EIA, until the arbitration case is completed. It would make no sense at all to invest money in and EIA and then lose the arbitration case and leave Slovenia.
Enjoy your time away from the board. See you on the next "ramp up" scenario!
Oldblue1973 - Morning. You must receive different RNS's than I do. I have not seen an RNS that states that Ascent is currently conducting an EIA.
Completing and EIA is a long process. The public and corporations in the area have to be consulted, wildlife and vegetation have to be analyzed, transportation systems evaluated and much more. Then all harmful chemicals and operations have to be identified and any detrimental effects must be calculated.
On new operations in North America, this can take a year. Slovenia moves much slower. It will take at least two years.