Member Info for CF73

Meant to read

Personally, saw that sale of the hangar as a massive positive, with the company coming out fighting, as it were

Plenty of cash, able to service debts and significant assets. Will come good one or other!

Good luck all!

Institutional investors don;t necessarily hang around for bids. They are averse to risk, especially if they are investing on behalf of others, including pension funds etc. The bid/merger elements is unknown, so while there is a clear for sale sign, the risk appetite for certain IIs would be too much here,

Personally, saw that sale of the hangar as a massive positive, with the company coming out fighting, as it were

Plenty of cash, abal eot service dents and significant assets. Will come good one or other.

Good luck all!

Pressure on the bidders to come forward now.

Good luck all!

Very likely that the weekend provides more time to work through offers or a deal of some kind. Very possible significant news here come Monday

But as always DYOR!

Clearly some posters here with multiple IDs and are possibly working for some of the prospective bidders (can't see shorters wanting to continue with a possible offer looming).

Given cash and assets (including some to sell to stabilise the foundations), definitely worth a punt at these levels and have.

Good luck all!

In agreement NaPoM, great stuff from you, tedoby, and others.

Newco makes working on those respective projects far more likely and the process much more neater, rather than trying to develop them based on individual/ compartmentalized strategies. With KME bought in-house, can work out how to deploy what, where, when, and for what reason etc.

I guess we find out next week, what the scoop is with RHA.

Good luck all!

Have to agree with you taylot. Pis are beung shaken out, and that some IIs are selling down. But Flyb have begun the stablising process by selling the Hangar, in turn by showing that they can do this and that are likely to do more in due course, if required.

The cash they have and the assets are crazy compared to where things are with the MC/ SP and general situation.

It is possible they can come out of this. The recent notifications of problems were not only required by market regs, but they also then allowed the company to begin processes that would enable them to steady the finances in the near term, like selling the Hangar. This would have been harder to do (or at least taken longer to arrange) without those notifications.

By the end of the weekend, very possible we will know a great deal more, with perhaps a significant RNS on the other side.

Makes way for letter of support/ MoU. Should be soon.

Good luck all!

OlderandWiser, the experience you've had, and since being Older and Wiser, would've thought you'd have given Africa a miss by now.

Just for the record, was expecting to hear about the loan restructure, and now we have, we can look forward to pressing on.

Good luck all!

Another great post tedoby!

Thanks NaPoM, good luck all

Remember, Flyb turned down the earlier Stobbart offer of 40p.

Lundy with their 22 posts?? LOL

Due a bounce today, good luck all

Only relaying what was said to me, after I approached them to seek clarity,

As always, folks need to do their own research and come to their own conclusions.

If there seems to be a degree of clarity around my post, it's because some folk know how to enquire and press questions to achieve the knwoledge they want. I wanted that level of clarity and made sure I stayed on the phone until I got it.

The above explanation is for other genuine folks, in case they are wondering. Regarding yourself, as far as I am concerned, you can suggest all the B O L L O C K S you want.

Made contact with company to get clarity around the process, to understand what was going on.

And yes, it seems they are meeting the relevant department and would be returning to the market soon.

I personally felt considerably more reassured once I understood the process better.

Good luck to all the genuine folks here!

Just got off the phone with company (had been trying to contact/ reach them for quite some time).

The sign off process sits with the Ministry for Industry and Commerce. The letters - including the one asking 'Another 48 hours' (reminds me of a film that) - have been coming from that Department. It's that Department that holds the shares. It's that department PREM management have been meeting. They're the ones who've been providing the assurances, the in principle agreement etc

The decision does not sit with the Minister for Mines and Minerals, and his department, remembering that recent 'positive' visit. I'm told that this minister supports PREM and is hugely supportive of Newco. We discussed briefly the value of the Newco proposal and how it'd, basically, heloing the Minister and his department, it being their job to grow the industry etc This Minister is supportive, even making positive pronouncements in media that he ought not to be. Crucially, the decision around RHA Sign Off does not sit with him. His department does not own those shares in RHA.

PREM have continued be in dialogue with, and regularly meet with, the relevant department, and are in Harare again to meet with them. They hope to return to the market in soon.

They are aware of the frustrations of shareholders. I explained that folks finally need something concrete. That Sign Off was an important step to building confidence and that there was probably a lot money waiting on the sidelines in the event we got a positive result. I impressed upon them that we needed something concrete to finally happen. Been too long. They explained things over there take far too long to happen (which we know already)

They understood frustrations around the delays, especially after assurances.

Relaying back my conversation, up to folks make up their own minds, DYOR erc

250 wells × $60million produced per well = $15,000,000,000

Let's just say $10,000,000,000 to be safe for now.

Ahem!!! :-)

GE selling down its stake may be selling down its stake owing to its dire situation, but it does have implications in the near term for BH and anything it's involved. We could never for sure what all of those are but could imagine that it creates uncertainty at one level (selling a wedge of shares in any stock has implications, as we could all guess), at another level, if BH are buying back, you can imagine that they'd be looking to keep a lid on the SP in that period. An announcement of a major, in concrete terns, with lots of detail, may not help that buy back process, if the new deal is deemed to be very lucrative.

In other words, there bat been a deliberate attempt to slowly release news, whether BH detail or the other Supa Major, to get the GE sell dun and BH buyback moving first. At very least, I can see them wanting to wait until the deal between GE and BH had been agreed to a large extent.