“Doc. I thought you said you didn't think we'd get the LP RNS until after the elections?”
I don’t recall saying that? Although I’m not convinced it’ll be before the AGM! Regardless, it still looks like vaguely positive news that WOS has posted, and we definitely need to start making some money!
Weren't we around 0.7/0.8p pre consolidation, which is 14/16p now? i.e. no impact.
We are well diversified so while Molopo posting negative results would be disappointing, it shouldn't have too dramatic an effect on the SP... I would hope.
"Sells today are most likely due to money being moved to isa's also watch this space as quite alot of people waiting till after 6th to jump in"
A good broker/IM should be switching/matching off these through the market at the mid price. I don't know if the likes of HL and the cheap and cheerful providers do this, though.
AGM deadline latest was 15th May so MB couldn’t leave it much longer, maybe another fortnight. If there’s still nothing material by then, i.e. Heron is finally producing or at least all but ready to, then I’d guess the SP will react accordingly.
Time to think of some questions to submit!
“Think few will get caught with pants down soon 😏”
Not heard that one before!
I’d say if we really aren’t producing oil by the end of this month, a raise will surely be on the cards, albeit they might not pull the trigger on it for a few months. They can’t risk leaving to too late… if they do, then the SP will drift lower and lower and they’ll never get the raise away at even a half decent price.
Clearly, I do not want this to happen. But as ever, the months just keep ticking by.
I don't think a raise was on MB's mind. However, it is prudent to make sure the business has enough cash to keep running, well in advance of it running out. We had cash until AT LEAST July, so let's be optimistic and say until the end of this year. Any sensible CEO would surely make sure funds were secured 6 months in advance.
Of course, MB and the team cut defer their pay or undertake some other cost saving measures while this process runs its course, in order to extend the cash runway.
In summary, it is imperative we get producing oil ASAP. We'll know soon enough because he can't delay the AGM much longer.