Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
What qualifies someone as a ‘sophisticated investor’?Presumably we mere mortals are regarded as ‘unsophisticated investors’?
It might be AIM in the UK, but the listing in Oz makes a difference, hence why they got fined for embellishing their green credentials a few months back.
I would expect that the BOPF and by association the Botswana government would take a pretty dim view of such shenanigans. The last people Tony would want to upset are the those people who give out the licences. IIRC, having a a listing on the Botswana stock exchange was a requirement to get an investment from BOPF. If the company is sold on the cheap from under shareholders noses to Tony's 'mates', it may find itself with no assets at all!
Thanks Thornback, that makes sense.
The report states:
'Once the transmission line and associated infrastructure is completed and approval is granted by the relevant authority in Botswana, the transmission line will be connected to the existing power grid in Botswana. Under current legislation, on connection to the existing grid all ownership, rights and responsibilities for the transmission line and associated infrastructure will transfer to Botswana Power Corporation, the national power utility in Botswana and current owner of the existing power grid.'
With the transfer of ownership moving to BPC, upon completion, I'm wondering if there will be any kind of refund to the company for the cost of this infrastructure?
Historically the market cap was always around 30 to 50 million albeit with far less progress and with gas less in demand than it is today. So just based on that, 6p per share in the near future should be easy.
I'm wondering if the price is being pushed up to 3.2p+ for the BWPF to then covert the loan to equity without looking like they are paying over market value? Right now could be an easy opportunity to make a little money if that's what's going on.
TB
I wouldn't be interested, leave him be
Am I right in thinking that he has to formally make an offer for the company if he goes above the 30% threshold?
GG updated his twitter:
https://twitter.com/GabaakeGG/status/1585898655545843712
I suppose he thought it was a simple choice of either paying the fine and not admitting liability or paying for Lawyer's fees presenting a defence. I suspect he chose the cheaper option. Surprised we haven't had an RNS confirming the matter is now closed. Anybody reading the RNS history could assume the investigation is still ongoing.
The article even made The Guardian.
http://www.theguardian.com/environment/2022/oct/27/australias-corporate-regulator-issues-first-fine-for-greenwashing
Well clearly the current pace picked up during September, which is most important going forward and would justify their intended completion date.
Where did you find 10%? I read progress was at 16% for the end of September and if you read the previous progress report they were at 11% on the 13th September. It looks like they’re making fairly solid progress to me at about 10% per month if you extrapolate those numbers.
I think the finance agreement the company has with the BOPF is kind of similar to one that an individual would have for a self build mortgage. The onus is on the individual (or company in this case) to reach a defined material stage and the next tranche of funds is almost a formality.
Here's one to fantasise about also. According to the BBC today, Germany is paying 500 euros per MW/h for wholesale electricity. I know Tlou are not in Germany, but considering that the global cost of electricity going through the roof, one can imagine what even our initial 2 MW generators could produce in revenue. If Botswana were to pay the same as Germany would our revenue be 2 x 500 euros x 24 hours x 365 days = 8.76 million euros annually? If we had 10 MW of CBM and 10 MW of solar, that would then be 88 million euros.
https://www.bbc.co.uk/news/world-europe-62899940
Back in February 2021 the company stated that they are seeking to produce carbon neutral energy by acquiring additional land and using that land for carbon sequestration. Well they’ve not acquired that land, so presumably any subsequent statements like ‘Clean Energy For Botswana and Beyond’ were jumping the gun. Interestingly on the latest presentation states ‘Energy For Botswana and Beyond’ which is dated 22.07.2022, so perhaps the management were tipped off back then that the ‘clean energy’ statements should be toned down.
SM were suggesting part of their overall USP was that their high temperature plasma technology is unique in the way it destroys PFAS compounds. In todays BBC article, the text suggests that more simpler technology might be around the corner.
http://www.bbc.co.uk/news/science-environment-62561756
My mistake Brad, I quickly read Wednesday's RNS at 7am and concluded 90 million shares were converted, but they couldn't convert the remaining 25 million until approved at a shareholder's meeting. Having said that, I suspect this technical issue with ASX was uncovered because the BOPF intended to convert.
The market seems to have overlooked the fact that this week our largest shareholder has converted our debt into shares at a price that’s nearly double today’s share price.