We know the oil is there guys, we know the gas is there. We know there's not really much we can do about pumping any oil until the gas is connected. N the balance of probabilities Block also knew this months ago when they did the raise and since then the info has been gauge but that's deliberate,, it's all there infront of you, what could Block tell you at this point that you don't already know. They have done what they've done for the benefit of the company, for the benefit of shareholders and I think the bod have probably taken an unfair amount of flack but as long as you've held your shares your profit is in site.
I'm cautiously optimistic re Block. I'm also a pragmatic simpleton. In my view Block can't open the taps until the gas is connected. In the meantime Block has done huge amounts of preparation, testing and repairs. I think their hands are tied to a degree at the mercy of Bago.
I'll be brave and say I don't think we've seen the real Block just yet, we'll see them later in the year and they'll make us a mountain of money.
Yes. They need capital to complete the new factory. According to the bod they have multiple options available to them but shareholders are hanging onto our desks, white knuckled wondering which option they'll go with.
I was in a Transnet tender meeting a few years back in South Africa. Half way through and while the chairman was speaking a frustrated Chinaman jumped up and started shouting 'you want cheap, we make cheap Chinese'. Of course everyone else in the meeting was a bit surpliced by the Chinaman who just kept on shouting. He was probably a few minutes away from being thrown out when he eventually sat down. This was a guy in a suit and tie with a small delegation of other chinamans with him and he was making a total noodle of himself. I remember thinking then that the Chinese were just different and I wasn't sure if I'd want to do business with them.
My view is that the Chinese aren't British and Boris couldn't give them a contract even if he wanted to, it would be political suicide. Bottom line is the government doesn't care how much it costs, it's about political millage.
Top I'm not saying Ebioss had to invest, I'm saying that they were going to invest. That presumed investment would have been taken into consideration when EQT did their raise. It was a really strange way for the companies to go about things.
Now I'm glad Ebioss have a lesser influence however I am concerned that Ebioss lack of performance might still have a negative effect on EQT.
The last capital raise was completed on the assumption that Ebioss would take a further equity stake in order to maintain their 51% holding. That has not yet happened. We can assume that when Ebioss sort their finance out it will still happen, albeit at a higher price than originally intended. The Ebioss investment would have been factored into their capital raise and if it doesn't happen then EQT might have to cover that raise elsewhere.
Surely Ebioss haven't simply abandoned their 51% majority holding here? Surely Ebioss will be back once they have arranged their finance? And surely that means there will be a further placing to accommodate Ebioss? I can't imagine any 'good' news being published until an Ebioss placing has been completed.