Member Info for bcl42

I am now seriously questioning whether LC is up to the job. He clearly has absolutely no idea what the GoT are thinking and if, not when, the MCPP is going anywhere. Today's RNS asks far more questions than it answers and we need a pretty quick follow up explaining what the hell is going on. A 20% reduction in the SP and a completely unknown timeline (the 1 month appears to be submissions and nothing to do with how long the GoT then sit on them), is a big deal to me, others obviously think its either just another day or indeed yet another top up opportunity. I need some answers from LC and will have a go at getting them, albeit it appears he only communicates with a select few these days

If we jumped 13.3 on SML now we might just hit 4p

Sonic do you have a link to the Tanesco process?

I would say pretty bad Juan. The can appears to have been given yet another swift kick into the long grass. It just beggars belief. Any change to government policy adds extended periods of time onto timescales. What else would LC say ‘massively disappointing and we are fed up with the GoT moving the goalposts’?

We are being messed about by the GoT.

Goalposts definitely bring moved. This is clearly another huge delay. GoT are complete joke.

The current SP tells us that ‘the market’ clearly believes that nothing is happening in the next 8 working days. If correct, Sept 30th will come and go and we will get an extension to the SEPCO buy-in deadline. Come on LC and ToG prove the market wrong.

Thank goodness we are not being messed about by the Tanzanian government. ;>)

Well done Mprt. It has to be crunch time pretty soon.

Totally agree JD. I am not in a tizzy but remain frustrated and very optimistic (they really do go together). I really could do without another 200m shares being issued for another African project though I would like to see some shareholder value created with what we already have.

If one sentence sums up the reason for frustration I think it is this one ‘Tanzanian authorities have recently indicated a readiness to consider the SMLA‘. What on earth does that mean? They are considering the SMLA? Are close to considering it? Will consider it if we do something else? Will consider it when they have some time? They could consider it but won’t tell us if they are? Will consider it at some time but not necessarily give a yes or no as an answer? We are all expecting the outcome of the SML application any minute and all we know is that the GoT have ‘indicated’ that they are ready to think about it. Will we know when when they actually start thinking about it? It’s all nonsense.

What happened to pauly’s post? Is it because he mentioned Richard?

And as usual a RNS from KIBO is so inspirational and positive that we see a 4% + drop down to the heady heights of 4p. There is only so many times you can give exactly the same message and expect everyone to believe it. If Sept 30th comes and goes with no SML and/or PPA I will not be surprised to see us somewhat lower still.

It would work well if there was any sense of the Government actually ‘getting on with it’. That is in fact the key ingredient which continues to elude us. I have no sense of progress but stalemate. I recognise that LC can’t admit that but that doesn’t mean that is not the current situation.

H5O I think your comments are spot on. I agree that there has been a comtemptuous lack of shareholder engagement (or should I say Share Muppet ego massage). I could have written the Chairman’s statement just by regurgitating every RNS we have had over recent times. I don’t how much longer we can go in making significant progress unless there remains significant stuff still to sort. It’s repetitious,tedious , frustrating and completely uninspiring. At some point we need to stop talking about the need for power and negotiating a PPA and the government being ready to think about, discussing having the SML approved. It’s so so time to actually deliver something.

I presume the announcement of the trip to Mbeya and Rukwa which was due after last week’s trip ending on 10th could come anytime soon. To be fair the article was accurate as ‘after’ in Tanzania could be next year.

There is also the point that LC said something in April in an RNS which has turned out to complete tosh. It’s one thing when the GoT are holding things up but at least do what you say when it’s within your power.

JD - when that happens I too will be happy. Problem is that at this point it hasn’t except for a lot of expectation so until then it would be nice if our CEO were to even acknowledge that PI’s were and still are important

Let’s be honest as far as shareholder engagement is concerned PI’s are non-existent.

H5O I have made my thoughts on the Energy Company very clear. I am not happy with the the 300m shares diluting my holding for a potential pay day on projects which I hope to never see as progress to anything as my 6 or 7 year holding by that time to see MCPP come to fruition will have been more than enough for me. No one can argue regarding shareholder value and it’s the one thing that Louis has said which is a complete wind up. I am currently sitting on a 15% value reduction assuming that we will see some serious added value but there is no way it can be argued that LC has created actual shareholder value. He has definitely moved things forward hugely over a protracted period of time but so far only by destroying real shareholder value which can only be measured by the SP. This could change in an instant but it hasn’t happened yet.