Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The 50 BCF only pertains to the final $10 million POC.
$3 mill today (deal closure)
$3 million on FID (due this quarter)
$ 8 million starts to flow post production Q-1 24
$2 mill post 50 BCF
POC that's not correct. The next $3 mill is due on the final investment decision, or in other words the development licence and GSA both of which now have a clear line of site for AEX. The remaining $10 million then begins to flow on first gas, expected around Q1 24 as 25% of revenues from the field.
$3 Million due on completion, a good chance of the next $3 million before year end (FID) and then the start of the other $10 million starting to flow once production starts next year. It will be interesting to see the GSA rate and expected initial flows post workover.
Morning steve, I expect the other items to move for AEX now and once they have the development licence &GSA then FID will be signed and the second $3 million should come shortly after.
I see the RNS is not showing here?
https://www.londonstockexchange.com/news-article/SCIR/ruvuma-transaction-update/16147456
Scirocco is pleased to announce that the divestment of its 25% interest in the Ruvuma asset has been approved by the Tanzanian Minister of Energy. With this approval now received, all conditions precedent to the transaction are satisfied and Scirocco and its counterparty, ARA Petroleum Tanzania, can now proceed to complete the transaction in the coming weeks.
https://www.londonstockexchange.com/news-article/SCIR/ruvuma-transaction-update/16147456
Scirocco is pleased to announce that the divestment of its 25% interest in the Ruvuma asset has been approved by the Tanzanian Minister of Energy. With this approval now received, all conditions precedent to the transaction are satisfied and Scirocco and its counterparty, ARA Petroleum Tanzania, can now proceed to complete the transaction in the coming weeks.
Morning steve, quite agree. I think there is a trading opportunity for people based on the Ruvuma deal completion, alas I think the business post Ruvuma will take many years to produce any kind of revenue that Ruvuma could & would have provided.
The jewel in the crown will be gone and the crown only costume jewellery.
The company successfully recovered 1 million Helium One shares which had been "trapped" after Pello Capital entered administration in October 2022. These shares were sold during August 2023 delivering net proceeds of c. £75k.
On 29 August 2023, the Company announced that whilst significant progress had been made delivering the necessary approvals from the relevant Tanzanian government authorities it had agreed with its counterparty APT to extend the longstop for the Ruvuma transaction to 30 September 2023 to allow sufficient time to achieve the final approval from the Minster of Energy.