Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
@Flash, what do you think about their new strategy of acquiring assets in more stable jurisdictions?
The things you point out surely do justify the change in strategy, but it seems a little premature to say they have failed at that new strategy without giving them a chance to try it.
"SMP has failed to comply with the Court's Order by refusing to voluntarily pay the Damages Payment."
Wow!
How do they go back to a court and put their defence if they have shown they don't respect the authority of that court?
Mrc You need to read the RNS. Loan paid off. Money flowing in.
"In accordance with the SPA, Scirocco has received the balance of completion payment consideration of $2.54 million (equivalent to $3.0 million completion payment less the $0.5 million advance received following signature as well as contractual adjustments). The cash call loan facility provided by APT and used by Scirocco to fund cash calls during the interim period has also been fully settled by completion and Scirocco has no ongoing associated liability."
Someone tell the French.
"In a 1997 study, Dr. John M. McPartland of the University of Vermont reviewed all of the existing literature and found that, “Cannabis has been utilized as a pest repellent or pesticide, in a variety of formulations. These formulations include dried plant parts, plant extracts or pure cannabinoids, as well as use of the genus as a ‘companion plant.’”
In some cases, dried cannabis leaves had been mixed into the soil. In others, hemp straw was used in compost. But despite the fact the insect-repelling ability of cannabis plants (including both hemp and marijuana) is well documented, nobody has been able to figure out why it’s so effective."
https://cannabismd.com/beauty/skin-care/cannabis-bug-sprays-are-they-worth-a-try/
Not sure you can read the last one to be verbatim that there is nothing going on in Congo.
My best guess that when we got shafted over T2 AC made the decision to pull out of Congo and go the legal route for the cash owed, but the counter offer of these 2 fields have been put forward to placate him.
https://www.eurorating.com/files/615687610/file/2023-10-09_Zenith_Energy_Ltd_-_rating_report_for_the_company.pdf
"In February 2023, Zenith made the decision to discontinue its operations
in the Republic of the Congo."
BUT!
https://bcra.eu/files/rating_zenith_sep_2023_en.pdf
"Despite the disappointment of this decision, Zenith
is currently in the negotiation process for 2 new
fields (Loufika and Zingali) in the Republic of
Congo, being capable of producing as soon as the
transactions are completed."
GLA DYOR
It's hardly a 'short list'!
Did anyone not get through to the finals?
Listening to the S. Sudan minister it sounded like they are pretty keen to get foreign investment in.
I'd assume that if we don't go ahead with SS it's more likely our choice because there are better opportunities for us elsewhere rather than them not wanting us.
All I can say is that I am very pleased that the company is now undertaking a strategy to target more stable jurisdictions. Whilst the bug bucks can be made easily in some more risky locations the current pull back in the price of oil assets in more stable places is the perfect opportunity for the BOD to exploit.
I will be very happy if we end up with USA,Kazakhstan, ssudan, Italy & Tunisia.
Cool! Kaz seems like a good place to do business.
I'm gradually buying it up bit by bit lol
One day I hope to visit and see Far shipping vanadium and Zen pumping oil.
I could be like a kaz oligarch.
Good stuff, got our money back.
Lets buy American.
It's nice to have some positive news. I think the USA will be the perfect place for AC to use his deal making skills. They were wasted in Africa where everything gets delayed and bogged down in red tape. Give him a clear runway and let's see what he can do. It reminds me of the early days in Tunisia where we had several quite rapid acquisitions for a while. A counter cyclical acquisition campaign in the US could be just what we need.
GLA DYOR
Not long left till the longstop date.
Wonder if we'll get some money back an buy more in the USA?
Why do all the posts that don't agree keep getting deleted?
I was going to welcome our new 5m investor but it seems he's already been silenced.
The uninvested the right to an opinion but if you have 5m you will get your posts deleted.
Thats interesting. So Zengas likes SAVE.
The same SAVE that plans to take over the PETRONAS fields in South Sudan?
I guess there is his motive. He wants SS all for save with no competition from Zen. :)
"I firmly believe you may get your 3-4p here but not in the manner you expect."
OK that's kind of cryptic.
@Zengas. So ultimately you think we could nearly 10 bag?
Are you just looking for the best entry to load up big time?
"The Board has taken the decision following a comprehensive evaluation of recent geopolitical developments in the vicinity of Benin, the significant long-term investment required to successfully develop the Sèmè oilfield, and the material progress made in other jurisdictions where Zenith now intends to maximise its technical and financial resources with comparatively reduced risk for the Company's shareholders."
It's not just the Geopolitical situation in isolation. It was always said that Zen would do a robust due diligence procedure. Very wise! I wouldn't want that any other way. It's about taking calculated risks for a balanced risk reward ratio. We don't expect every deal to go through.
USA was not on the table at the time we first got into Benin. The company has to keep weighing up it's opportunities to make the best use of it's limited resources.
Great RNS!
Bonus that we aren't drilling ourselves!
AC laid out a strategy and is delivering to it, playing to his strengths as a deal maker!
GLA DYOR
Carbon Black for energy storage:
https://uk.finance.yahoo.com/news/futuristic-concrete-could-transform-roads-190030994.html
@EX, Could UG join your band?
I can see you both singing from the same hymn sheet. :)