Member Info for BradSmith

Bugger! GG's name was split across 2 lines, and it sent for some reason as I merged it into 1 .
However I found the percentages!

"Service agreements

The following outlines the remuneration and other terms of employment for the following personnel during the reporting period which are formalised in employment contracts for services.



Anthony Gilby Managing Director and Chief Executive Officer

Term of Agreement: Mr Gilby's services are provided in a personal capacity. The agreement has no fixed term. Mr Gilby has waived 75% of his current contracted rate. This amount waived is not payable by the Company at a future date. After this 75% reduction and taking account of adjustments for industry standards and CPI the annual cost to the Company is approximately $153,140.

Termination Benefit: No termination benefit is payable if terminated for cause.

Termination Notice: The Company may give Mr Gilby three months' notice or pay 1.5 times his contracted salary in lieu of notice to terminate the Agreement.



Solomon Rowland Company Secretary

Term of Agreement: Mr Rowland's services are provided in a personal capacity. The agreement has no fixed term.

Base Fee: Mr Rowland has waived 50% of his current contracted rate. This amount waived is not payable by the Company at a future date. After this 50% reduction and taking account of adjustments for industry standards and CPI, the annual cost to the Company is approximately $117,300.

Termination Benefit: No termination benefit is payable if terminated for cause.

Termination Notice: The Company may give the Company Secretary six months' notice of its intention to terminate the Agreement.



Gabaake Gabaake Executive Director

Term of Agreement: Mr Gabaake's services are provided in a personal capacity. The agreement has no fixed term.

Base Fee: Mr Gabaake has waived 50% of his current contracted rate. This amount waived is not payable by the Company at a future date. After this 50% reduction and taking account of adjustments for industry standards and CPI, the annual cost to the Company is approximately $79,004.

Termination Benefit: No termination benefit is payable if terminated for cause.

Termination Notice: The Company may give the Executive Director six months' notice of its intention to terminate the Agreement.



Colm Cloonan Finance Director

Term of Agreement: Mr Cloonan's services are provided in a personal capacity. The agreement has no fixed term.

Base Fee: Mr Cloonan has waived 50% of his current contracted rate. This amount waived is not payable by the Company at a future date. After this 50% reduction and taking account of adjustments for industry standards and CPI, the annual cost to the Company is approximately $146,949.

Termination Benefit: No termination benefit is payable if terminated for cause.

Termination Notice: The Company may give the Finance Director six months' notice of its intention to terminate the Agreement."

Here is the difference from 2019 to 2020
Anyone who has earned big money will know that your liabilities are in line with your income, and remember this is dollars , so 48k is less than £27k!
2020 Salary/fees SuperAnn(same both years) Cost
Director
M Mclver 48,000 4,560 52,560 -43,150
A Gilby 320,651 15,934 68,180 -71,432
G Gabaake106,103 - 10,080 2,473 118,656 -118,787
C
Cloonan
199,609 - 18,963 - 218,572 -153,847
H Swire 30,000 - - - 30,000 -37,150
L
Mohohlo
30,000 - - - 30,000 -38,269
Total
Directors
734,363 - 49,537 70,653 854,553 -462,635
0
0
Executive
s
0
S
Rowland
163,534 - 15,536 - 179,070 -64,080
Total
Executive
s
163,534 - 15,536 - 179,070 -64,080
Total 897,897 - 65,073 70,653 1,033,623 -526,715

What are you talking about Whizz?
The directors have taken huge pay cuts, 50%?, and the lost element is not redeemable later!

Cannot find the % yet, but found this ....

"Salaries of Directors and executives have been severely cut following the impact of COVID-19 on operations. Details of the current cost to the Company of key executives is outlined under 'Service Agreements' below. In addition, fees paid to Non-Executive Directors have been reduced to $1,000 per month."

$12k p.a. for non-execs is down from the figure agreed by shareholder but a little over 50% , previously it was a limit of up to $500k!

"The maximum aggregate amount of fees that can be paid to Non-Executive Directors is $500,000 per year. This was approved by shareholders at a general meeting held on 10 July 2012."

A Group of guys, all turning 40, discussed where they
should meet for lunch.

Finally it was agreed that they would meet at
Wetherspoons in Uxbridge because the waitresses had
big breasts and wore mini-skirts.

Ten years later, at age 50, the friends once again
discussed where they should meet for lunch. Finally It
was agreed that they would meet at Wetherspoons In
Uxbridge because the waitresses were attractive. The
food and service was good and the beer selection was
excellent.

Ten years later, at age 60, the friends again discussed
where they should meet for lunch. Finally It was
agreed that they would meet at Wetherspoons In
Uxbridge because there was plenty of parking, they
could dine in peace and quiet with no loud music, and
It was good value for money.

Ten years later, at age 70, the friends discussed where
they should meet for lunch. Finally it was agreed that
they would meet at Wetherspoons in Uxbridge
because the restaurant was wheelchair accessible and
had a toilet for the disabled.

Ten years later, at age 80. the friends discussed where
they should meet for lunch. Finally It was agreed that
they would meet at Wetherspoons In Uxbridge
because they had never been there before!!

https://uk.advfn.com/p.php?pid=trades&symbol=ASX^TOU
Incredibly quiet out there "waiting for the hammer to fall" here is a good remedy
https://www.youtube.com/watch?v=JU5LMG3WFBw

3 small trades (all sells) at the same time - leading up to Xmas?
I wonder how many of us needs a few quid, having lost their business, job,income and pension rights in this sorry world? Someone with little kids probably? Someone who'd rather be working for TLOU than one of Philip Green's companies, an airline, Debenhams , and anywhere in the entertainment sectors etc?

My son's employer Pfizer is probably the place to be, and hopefully Oxford are not too far behind.
Oxford declared their intention to sell their vaccine at cost of production to third world countries so commonwealth countries in alphabetic order is my hope. Australia 2nd, Botswana 6th!
I think that vaccine only requires a household fridge to store it safely?

Back to yesterday's post, it appears that we are hiring the main drill as and when needed. That answers all my (and other's) questions about why Mamba and and further drilling at Lesedi is not taking place. I thought it had been moved to Mamba and was needed back at Lesedi, but we owned it, silly me.

If the owner of the drill does not have another customer for it, under lockdown that seems possible, then perhaps they are happy to store it at Mamba and save the costs ,inconvenience and risk of covid to their men in collecting, storing , and re-delivering it? Perhaps TG could issue a short update on such things but if we all followed his news closely enough we should have known we were renting the main drill. With the volatile restrictions surrounding covid, not paying a high rent on a drill which limits how long our bank balance will last us, is another feather in TG's cap. Imho of course!

Building solar and wind ,with no mention of gas in MM's extract , taken literally is not quite the same as suggesting they will be buying power from us. But as long as we can can provide solar and gas they are a likely customer I suppose? As always, it's all in the timing.

Does look goo MM, De Beers is so important to the country that they might just support us for De Beers sake better than they have for themselves and us.

I'm tidying up my files and found this one from my time in hospital.
It shows how quickly TG believed dewatering was going to be .... the main mistake TLOU made, but how were they to know? We don't own the main drill according to this, but worth a listen if you have forgotten it.

https://youtu.be/0_7dMvgMUc0

That Scandinavian link seems to belie the timings I found for Selemo by several fold.
If I remember rightly, Selemo was suspended because a lateral drilling went wrong when the drill snapped or got stuck and had to be abandoned.

I simply love the way they present news, trying to get our history together is so dificult.
I noticed Selemo seems to have been more fertile when there were only vertical wells .

In fairness, Donk, has suggested many times that lateral wells maybe too expensive, difficult and time-consuming. This is the first evidence that supports that theory, and it is why someone with TG's history is essential to decide one way or t'other.

Lateral wells are releasing loads of of water , and ultimately , loads of gas , so TG probably has it right. What is clear is that it is not a simple industry until dewatering is achieved. And it takes time.

What a shame, it looks like the link went out of business.
I found a FB connection with African Energy and registered with them.
They have promising articles but at a price, £345!

No trades in Oz overnight so stable at 6.5c Whizzer.
On Friday there was one sell at 6.5c to reduce the price to the lower end of a 6.5c to 6.9c spread.
So one mug , was it you? , reduced the sp , as I have demonstrated several times on ASX.

Who would you replace TG with? This whole project relies on his experience at Arrow $3.5bn , and Sunshine $1bn, and TLOU still surviving through the biggest finanocial storm possibly ever!
Govts all around the world in financial ruin imho, and they are going to hammer everything in sight as soon as they can to get straight.
TG has us relatively safe with no income for them to get at, and enough cash to keep going for a year or more.

So come on, give us a name !
The only one I can think of is ...

"Tlou Energy Ltd ("Tlou" or "the Company") wishes to advise that Nathan Mitchell has resigned as Non-Executive Chairman of the Company with immediate effect, to focus on his other commitments and various executive positions he holds. "

He and Tony have history , and I suspect Nathan is as happy with TG in the chair as I am .....

"Nathan Mitchell will maintain his close relationship with Tlou as an adviser for future drilling programs and will continue to be a long-term shareholder of the Company. The Board look forward to working with him in the future and wish him all the best as he focuses on his other commitments. "

Looking up Nathan I found this site , it looks a nice format so I'm off to read it.
http://www.scandoil.com/bm.tags/tlou-energy-limited/

With all this Solar seemingly likely in South Africa , they should be looking for a partner to complement their part-time power for 100% coverage. I have one in mind, and they might be available given Botswana's dilly dallying. Our next RNS might change the course of history for TLOU , worth waiting for I expect. I don't care about 2Mw we should be concentrating on much higher figures than that. I love the options that could be there. Marry in haste, repent at leisure - I don't see a marriage made in heaven with Botswana in the name. I think we know them too well by now.

Forseti , thanks for posting the full story - many wouldn't!
I'm visiting here after seeing a new Solar Farm has been built iin South Africa and the article goes on at length about howw good they are for the school children, communities etc, blah blah blah!

Guess who it reminded me of? The guy who told us we should have been wary of him after his final placing, knowing he was taking us for fools! Born near Yeovil moved to Van Diemen's land as a child ..... the signs were there! And didn't he do well.

Good to see Fred is still chipper, haven't heard from Scotman since we folded, hope he is ok.
Might take a look at FB, buthow FB works defies logic for me. I hate it almost as much as CF , avoid 2 letters if there is an F amongst them is my new maxim.

I'll also look at OMI , and hope it turns into Oh! My! for you all one day.

No wonder Botswana are 29th of 36 country regarding power.
Donk, has found this new solar energy in South Africa which took 2 years to build.
I am posting a different article wwhich is a bit shorter and more concise.
His blethers on about how the company is helping the community , too reminiscent of Chris Fraser at SXX who did the same.

https://www.bizcommunity.com/Article/196/704/210867.html

Must check before hitting the tit.
"What I have been saying for months" seems to have been lost somehow.

Totally agree Damo, it was I have been for months in different words.
Why do we want funds now if we cannot spend them sensibly, and bring forward the repayment start date by that wasted period, with nothing coming in to repay it with.

Add possible breach of contract and my argument is even stronger.

Listening to Tony's podcast from 2016, my ears pricked when I heard him praise the Govt for talking solar at last - MM's assertion that solar features strongly in our plans from the earliest date possible looks more likely than I thought. Apologies for doubting that view MM. TG may be driving the Govt on solar rather than t'other way round.

If you wonder how some of us got into TLOU , listen to this podcast from 2016 - skip to 2m 45s for a TG interview.
https://audioboom.com/posts/4999566-574-tony-gilby-of-tlou-energy-and-jim-mellon

I have ticked an MM presentation - blow me down.
It is a bit ironic that we agree on so much, but I come across as a deramper in countering his Strong Buy opinion on nearly every post.

https://youtu.be/IHM1hsU1Mkc

date July 2017 - this is the TG I know!
We are pioneers in Botswana and, ever the realist , hear TG say 1-2 months is the norm , but this is the first time for CBM so it could take longer? Little did he know!

For newbies, here's what happened?

Imho, the Govt used documentation from the nearest industry, coal burning power , to produce a version for CBM.

This was only 3 years and a few months ago!

In the coal manifestos it insisted that any tenderers MUST BE ABLE TO SHOW AN APPROPRIATE HISTORY OF DEALS WITH BOTSWANA!!!!!!!
That proviso was carried forward into the CBM documentation!

After all the work put in by Sekaname and Tlou, their assessments were put on hold because neither was eligible to apply! The field was narrowed to those two companies exclusively but the process was restarted.

To get from there to where we are now in 3 years is commendable without all the other problems!

Tony is referring to Selemo when he mentions our savings on the purchase of diesel!

You are guilty of having blind faith that the board are doing nothing!
They would be doing even less if they were producing a daily RNS saying, the same thing over and over again, which you have no aversion to , but I do!

Dewatering continues at reduced levels , the poles/wires tenders are being reviewed , we are wasting our time speaking to a toothless Mr Moagi who is fully supportive but is just a man at the end of the day, and we are talking to outsiders in case Mr Moagi never gets an alliance together!

I am expecting a stampede once we have the herd solution to the virus in place.
Investors will not have many better choices than TLOU for their money.
The Govt will take fright that we are taking our business elsewhere , and maybe we'll be inundated with request to take obsolete drills for Mamba and Boomslang from receivers of companies that have gone bust!

That is my dream, but is it impossible? We may not have long to find out if Botswana can buy the Oxford vaccine at cost of production!