Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
For over 2 months, the company have failed to respond to my emails.
Having properly looked into this matter in the last few days, it is my opinion that the BOD are privy to price sensitive information and as such are deemed insiders. This would explain why, despite verbal assurances to me from the CEO, director purchases have not been forthcoming.
I believe that it is something positive - Whether it is a deal they are working on, or they are in receipt of a bid for the company, but it’s gone on long enough and it’s time for the company to communicate to their shareholders. I have written this on this BB board and on ADVFN in the hope it will put pressure on the company to act ahead of tomorrow’s investor event or to encourage shareholders who are going tomorrow to put this directly to Richard Bennett.
It’s impossible to quantify this agreement without any figures. What’s it worth? Short term cash issues are in a desperate state. Stand by for a placing into any rise based on this news. We have seen it all before.
The current price of gas is FIVE times higher than the valuation given to this field earlier in the year - currently 250 p per therm for November delivery.
And here was that valuation. Look at the figures. RBD are sat on a gold mine!
SLR Consulting estimates that Victory has 2C resources of 157 BCF and NPV10 valuations ranging from circa GBP85 million (based on a price forecasts of 42.5p/therm) to circa GBP146 million (based on historical average gas prices and base case valuation of 50p/therm).
My take: They must have nearly burnt through last years cash already and still have no news on any new orders at all.
A good day ahead!
The company cannot issue shares because of one of the main shareholders blocking it. So How can they proceed. Buy something in cash and then what? It’s a joke, I’m not blaming the board but until this idiot shareholder clears off this is going nowhere.
Reassuring that they still have over $2 million in the bank and no further funds needed until Second half of the year to further develop the project. That will put to bed any fears of an imminent fund raising.
This afternoon at above ask. Let’s hope it’s the start of something a bit more positive in the next few weeks
Yes don’t know what’s going on but trading seems to have stopped? Very odd
Bottom line is it’s clear West Newton is a huge find. Just baffling why the share price isn’t responding. UJO is up 30 % in 2 days. Not normally a fan of consolidations but it’s been a huge success there and really got the share price going.
To clarify they need to raise £6 million by June under AIM rules, but they have already raised £2 million so £4 million more is needed, which is not a great deal if the share price keeps climbing. Anyway I think we need to just enjoy the ride, just look at AAA they know what they are doing!