Member Info for Appiamma

I'd certainly disagree with the Doc not being happy with a A$30m profit from his investment. However, I agree with the notion that proof of concept and proven recoverable gas reserves should drive the SP well beyond the accepted market company valuations based on earnings. But with current market sentiment- who knows.

Also I notice that they have not yet had clearance from the BSE, as it will be interesting to see if the BPOPF participate

HB - as Winni states you should receive a notification of the offer under corporate actions indicating your entitlement allocation -and in this case the option to request to exceed this if you so wish. You are guarenteed your entitlement, but any excess will depend on how successful the raise is. ILC is underwriting approx half amd the BoD are participating to the amount of about AUS$400k - so hopefully they will get the full amount. There are no options attached this time - so there is no complication with ISAs as there was with the last EO.

Thornback - remember those are Aus$ numbers and the company figure was for US$30 to get to 10MW. My estimate assumed they raise the full amount this time - approx US$7m

Also don't know why it has output everything in lowercase - odd

jeez - the world has become so delicate - i'll go northeastern - tab packet. as eric morecomb would say - ****nal!

tlou announced back at the end 2020 that the first phase of 2mw would cost us$10m and to get to 10mw would require a further us$20m. since then as a *** packet calculation i think they have raised about us$22 through various methods - so not not there yet, and like for everybody else i guess costs have increased considerably in that time.

i think it's a decent offer - at least they've offered us plebs a taste. however i still think if they can prove up more gas they should then be able to get an rbl with good terms for the rest of the funding. gla

I'd like to think it's a steely determination to let the project speak for itself and get it across the line without the need for hyperbole and razamataz - but to some extent I suspect you're right TB. That said they have done very little promotion since the project began - long before the good doc turned up.

Agree totally with that TB - they could do so much more on the PR side. This is quite a groundbreaking project for the region afterall!

TBH Thornback since they decided not to develop the substations concurrently with the TX line ( not ideal but I'm assuming finance limitations were the limiting factor) I see little point in rushing to finish that side of the project - as long as we stay within budget and it's ready for when generation begins. Also field development is paramount now imo.

Agreed Winni - a pipe dream currently. It would entail significant field development and expansion and we simply aren't there yet operationally nor financially - and won't be for quite some time. I'm sure Orapa are looking for a more immediate solution. The loan is positive but of course will not be sufficient and as we suspected a probable fundraise soon which will likely continue to hold the SP down. GLA

'doggy lifestyle businesses' Can't get the image out of my head of Lassie lounging by the pool with sunglasses on now =)

Post one billion shares, yes very likely. The reasoning is always that institutions take a dim view of penny SPs and loads of stock, in actuality it just enables them to rinse and repeat.

Not sure it's about raising a particular amount Obnw, more like the Doc going through his contacts list seeing who he can do a favour for. I take solace in the fact they are all here to make money and hopefully we will too, but am also slightly worried they'll sell us LTIs down the river.

Indeed Thornback. Extracting the urine somewhat.

This appears to be the case, but while they seem to be wiling to persist in letting the chosen few in through the back door instead of buying in the open market the SP is unlikely to go anywhere for the time being. There is obviously a good deal of interest amoungst these 'sophisticated investors' that would normally create demand for the stock, however why bother doing that when the company can just issue more.

It is a huge undertaking for a small cap company to develop a CBM gas field, and once we were beyond the permitting stage, cash was always going to be the main limiting factor affecting progress. Although I agree with many of the comments on mates rates etc., and I don't believe the company has done enough to get the story out there, under current market conditions and against the, rather sinister imo, global climate change agenda attacking hydrocarbon energy, I think the company has done reasonably well in raising capital to keep the project on track, glacial in time frame as it is. I would like the company BoD to be more accessable to shareholders though - facing hard questions from the folk you're rinsing for money year on year, through either investor conference calls or events is not easy but hugely bebeficial to both parties imo - not part of TG's strategy it seems though.

Although placings are often unwelcome, with the inveitable pain and diminishment of the holdings of existing investors, they are a necessary evil and generally beneficial to the company; leaving them with less debt to service and hopefully making it more attractive when to for sale sign goes up - which is the ultimate end game here. However, I still find it bewildering that with the progress already made, the numerous hurdles overcome and the energy deficient evironment we are operating in, the SP is sitting where it currently is and the market seemingly totally uninterested. Moreover why, if the project is the no brainer the company insists it is, we have not secured a significant RBL or more equitable funding to enable us to fast-track (not a word used often in Africa I know) the project at least to the 10MW stage? Maybe I've already answered that question.

I think I said last year that 2023 was likely to require a good deal of patience, and that maybe we would slip into 2024, it appears that this is likely now. I asked myself the question why aren't the substations/generators constructed to coincide with the completetion of the TX lines, but decided that again it was financial constraints. Orapa is a pipe-dream for the foreseeable future imo for the same reason. Producing and transporting enough gas to power their two GE 45MW gennies will need massive investment - something for the next owners probably/hopefully.

As early investors we generally have two choices, sell up when we get too disillusioned or dispondent, or keep the faith and average down with the placings in order to keep pace with the dillution, I'm guessing TLOU, like most small-caps, has had plenty of both. As others have said we will almost certainly need to raise more capital this year, hopefully the last to get us to the point of generating revenue. Maybe once that's concluded and the dust settles the herd will finally turn up. As always GLA.

Hope you all have a good one and let's hope for a prosperous 2023.

Hardly TG's fault that you can't read an RNS Brad is it?! At the time of the Dr's first investment @2p we were at 1.35p, so fair play imo; even the second was at a small premium. I suspect these subsequent investments at seemingly mate's rates were discussed at a similar time and the price agreed, including the board's taster. The AIM all share is over 30% down YTD, market sentiment is low, so to get this kind of key investment at a critical time for the company, despite the dilution, is very positive imo.

Good news indeed - a significant premium too - if only all placings could be like this