Member Info for Bishop190

Green box fir you sonny, everyone else on here can disagree without being abusive, I don’t why why you fail in that regard. Perhaps you have some kind of lockdown mental issue, I hope you are able to sort yourself out.

I think we have heard you now Jim, you don’t need to keep repeating your theory, it is getting a bit tedious to be honest.

I do not wish to take sides in this argument but I would contend that the law of supply and demand applies to stock markets. So if there was a significant unmet demand the price would rise. It has remained roughly static up the the close on Thursday and according to the trades data on this site about 306,000 shares have been bought in the week so far mostly in two trades. To me that does not indicate a pent up demand.
In addition very few shares have been sold, I read this as most holders are, like me, waiting to see what happens over the next few weeks. Most of us probably also have an eye to how long the company can sustain itself on the remaining cash.
We all know I think that many AIM market shares are a gamble, we assess the risk and place our bet. I remain hopeful that this one will come off but one can never be sure.

As you know Jim, Tower is focussed presently on Cameroon. If that all comes off and generates funds it seems to me entirely possible that they might drill their own Namibia well for that kind of payback, why would they not if they can generate the cash to do it.
JA is on record earlier this year as saying that for Tower Namibia is on the back burner.
First things first as they say!

B*gger I keep forgetting emojis don’t work here :-(
It was a laughing face with tears!

??

We do indeed M!
Perhaps the Panmure note will be in the public domain soon, that might help.

M, being a chartered accountant by profession I deal in fact not supposition. I would have to say that judging by the cash flow numbers I extracted from the company’s published data and summarised by me earlier, the company will, at its annualised rate of spend in 1Q of this year, be out of cash early next year. Do you disagree? if so please say why.
I say this not to ramp, de ramp or in any way attempt to coerce or influence anyone into buying or selling this share but to state what appears from published data to be a matter of fact, whether or not it has so far been confirmed by the company’s board. The board of course may well have an as yet unpublished plan to remedy that.
I am invested both here and in Tower, that fact demonstrates my personal opinion that each has a good chance of success in its projects, if I thought otherwise I would have sold up and moved on.
I think it would benefit this board if people would stop levelling all sorts of accusations at each other and concentrate their posts on facts or opinions related to the company’s prospects. That makes for a grown up debate.
As ever, I emphasise that my opinions are derived from my research and understanding and others must do their own research and act upon their own conclusions.

According to the March 2020 quarterly report filed on the company’s website the cash outflow on Admin expense for the 9 months to that date was USD1.095m or roughly USD350k/qr. At 31 March the cash balance was USD1.3m (nb these will be unaudited numbers). So it had sufficient cash to last until 31.3.2021 if the outflows stay at the same running rate and there is no Capex etc in that 12 month period.
By way of comparison the report for June 2019 showed an FY cash outflow on Admin expense of USD1.7m or roughly USD425k/qr.
From what I see it would look as though it has enough cash to last until the end of this year, assuming no major posts March Capex. At that point it would have to start thinking about a cash raise.

The 2019 report to June was published on 31.7.2019, that was under ASX rules, I am not sure when AIM rules require FY data to be published.

This is how I interpret the published data, as ever of course DYOR and don’t rely on me!

I agree Brig, patience.

I think we all have got used to reading what is supposed to be there, if you see what I mean!

Pretty good summary I’d say OB.

Well yes I am another one in that boat Brig! Just have to wait I guess, I don’t think JA is one for giving up. I’ll be interested to see how the loan is secured if it comes off.

OB ref your post at 21.44, that is also how I understood it was to be repaid.

The loan is surely a red herring. It is owed to an Asher company, TRP has insufficient cash to repay it so it will be extended. It is irritating but all we can do is wait!

Patience is the key here I think. The last placing was for £500k, what we don’t know if course is how long that lasts in a scenario where things, presumably, are just being kept ticking over rather than there being much activity.

PS Jim’s post on GBP was at 22.00 on Friday in fact, not at the weekend. My error, put it down to age :-)

I think folk may be getting mixed up here. The 152p per share was a figure used by Panmure in a note on GBP which was quoted on that page by Jimarillo over the weekend. Sadly I don’t think we can plan for TRP to be at that price any time soon, much as we would all like it to be!

No, I meant emojis don’t work on this board so I put a smiley face and it posted the darn question marks!

Oh yes I forgot, no emojis. Was a :-) not ??