Member Info for CF73

Expecting shareholder loan restructurie soon, may be next week. They've had a month to work on it. That then opens way for the rest. Letter of support/ MOU, something all parties have agreed is necessary, but not important as anything that needs to be binding, some time after. The timetable for binding JDA already agreed and will slot into place when that letter of support is received. Interested to see how fast things move once shareholder loan sorted :-))

I have had a go at transcribing a portion of the podcast interview:

----------------------------------------------------

[14:57] “…subsequently we have had a number of meetings with those parties, where it has been agreed that the next phase of the project is now to finalise the JDA. I think it is very important…government now want to see that our partners are committed to the project. And to do that, they want to binding documents in place between our partners and the project. And the stepping stone to getting a binding agreement in place…is we’ve had a request from our partners to the government of Mozambique and to the national state power utility to receive a support package, we call it. But really we see that…at the moment that’s being negotiated in the form of a letter of support or MOU, between the project parties as well as the government of Mozambique and EDM. And as I say, this is currently under negotiation. We have at this stage, submitted a list of our requirements in that support document. Its nothing too contentious. I think it’s just some key principles that will then give our partners comfort, to finalise the binding agreements. And certainly nothing that we haven’t received before. We have received comments back from government on that list of requirements. We have signed off on what they’ve provided us with and now we are just waiting for the final sign-off from government on this document. And we have an agreed time table and programme, with GE and CMEC, to finalise the JDA, once that document has been received. So that’s very much where we are. We are at an advanced stage, with finalising all of those things. And we anticipate that the JDA will be finalised within a three-month period, once we’ve received this document.” [17:10]

----------------------------------------------------

Chippy, I shouldn't but I did enjoy the post of yours that's got removed (and no, it weren't what got it deleted)...

Anyway, I hope that the derampers get their money back, somehow, though deramping ain't the usual way of getting yer money back, if you're an LTH that is, LOL :D

Glosman, regarding level of dilution, exactly!!

Chippy, for me, the shares account for minimal dilution.

Very simple again Regardless of whatever underlying motives, those shares instead of pay amounts in real terms minimal dilution (inconsequential in the big picture) while being helping enormously by materially reducing cash burn. In other words, there is in reality minimal to no downside, even if you believe that these shares are cheap and a mickey take.

I'm with strongman Charlie, you're blowing hot and cold, clearly dependent how much you're in. Had you pegged differently but was wrong. Paying partly in shares in perfect. Dilution is absolutely minimal to the point of inconsequential while helpfully reducing cash burn

Chippy, if you arrive at that kind of negative conclusion on BoD getting shares as opposed to cash, then clearly nothings going to please you.

Shareholder loan news is too recent and too big in its own right to be included in the Interim Report. They've had all month to sort it and believe, personally, that we should hear next week.

Nothing at all in the interims suggest to me any kind of delay of beyond what was previously put to us and that we remain on track with that same time line.

Following the loan restructure, we should getting the usual Hanno podcast, which should help with detail

Good luck all! :-)

There is an issue of credibility and not to mention the problem of 'things' expected that have not arrived. But is clear from the statement, '...very late stage of completion.', that the are aware that we are waiting for this and that this is them saying '...we're on it.' Including mention that this year's drilling results are not intended to be included in it (...and so it becomes a 'living document').

Let's see :-)

Hardy, I hear you but they are not allowed to say anything other than that -- and certainly wouldn;t be looking to add anynew detail in the interim report.

There have been previous delays and the imprecise nature of these sorts of negotiations means that the NOMAD would be advising a more cautious time line in official comms.

Nothing I read in the interims tells me that there is any further delay beyond what we have already had and know about.

Again, these were just the interims. The would not have been looking to add any further detail and so would seem to some that there has been no progress. But far from it.

Shareholder Loan news next and in very short order, and then, as far as I am concerned, '..we're off to the races'.

Charlie, they've just come out of the KDNC DD so there's no way that there'll be a deal sewn up by now. So statements around where their current efforts lie is wholly appropriate and appreciated by me - telling us what they propose for RHA and Zulu is not more jam tomorrow, otherwise, if they followed your sentiment through, better they said nowt at all...and then you could imagine what some folks here would be saying...

This is not going to fail. If it was, it would have failed ages ago.

He owns near 7% of the shares in issue (once upwards of 30% or more) and makes loans to the company on what are excellent terms. He is not only aligned with PIs in terms of his investment, but he is committed to the company and has a point to prove here.

Things are looking better, much better!

The drop is way overcooked. There is no delay. We're being told what we already know (in terms of the broad process). We'll be back over 6p shortly and then the shareholder loan news will be landing.

The 'within 3 months' comment is what they have to say. It's procedural. Otherwise, they'd be saying 'within a month' - and for obvious reasons, they can't say that.

Shareholder loan news next.

Have topped up this morning, was rude not to.

Good luck to all the genuine muckers!

The drop is overcooked and an opportunity to top up. Everything in it we know already, we're on course as before. The 'within 3 months' is standard procedural practice. We'll be getting restructuring news shortly and the JDA remains effectively imment from after the loan is restructured. Good luck

Really pleased with this. The company is listening better and coming together after years in the ruddy wilderness

Very useful example Zibrahimavich, quite possible indeed :-))

....flow rates would certainly be kept under wraps by the interested parties via the NDA so as not to let competitors know the situation...

Thanks Strongman, agreed. No placing in the plans, as things stand, with JVs, offtakes etc the preferred route

Strongman, agree, would be good to see it released before the webinar. Would be very useful to talk about progress somewhere and in concrete terms

As I'm sure you know already, we should be getting an update on Circum at the Webinar too.

Good luck all!