Member Info for DowntoEarth

As expensive as it was, I think the offering to existing shareholders was primarily to mitigate any accusations further down the line that the company is only looking after the chosen few. Having said that, I’m sure the company thought the take up would be higher than it was.

The company has three months to find a buyer for the surplus shares of the offer. Wouldn’t be surprised if we get confirmation of commercial gas before that time expires as if only to drive home the point of the missed opportunity to those who didn’t participate.

I think GG’s main role in the company is smooth out the red tape, which I personally think he’s been pretty good at. He has 2.75 million performance rights, but you’re right to hold £7000 worth of shares for someone in his position is shockingly low. I’m sure he thinks his reward will come when the company is sold on. McIver, no idea what he does.

Interestingly the shortfall in the take up will be available to issue at the company’s discretion. Maybe some of Tony’s mates will benefit and who can complain if existing shareholders didn’t previously take up this offer?

Prospectus stated that 69% complete in April 2023, so it's probably progressing at around 5% per month.

It looks like Tony has committed to purchasing a minimum of 9 million shares to take him up to 50 million in total, he must be confident going forward otherwise he's throwing good money after bad. Also Colm has committed to purchasing his full entitlement.

Post of the month for me!

‘Just YOUR too stupid to realise it!!!’

Oh the irony…….

So far the Doc has risked A$15 million of his money into this project, I doubt very much he did that with the hope of possible 3x return. If this company is reliably producing 10MW of power, the project will become so easily scalable that I'm sure the market cap will be hundreds of millions. This is based on the proven enormous potential, not the actual revenue.

Well, I think i’m going to participate. There’s been so much feathering of the nest at 2p by people who know what’s going on that there must be a very good chance of making very decent money from this level. I suppose it might go below 2p for a short period of time, but then again it might not and if it did, would you be able to buy in any volume?

It's worth remembering that at 10% interest, the cost of the loan is barely covering inflation at present (Australia's inflation is currently at 7.8%). So I suspect the Doc feels he's being quite generous.

Winni,
I can remember an interview with Colm about 5 years ago, when he suggested that they would look to supplying Orapa with gas via a virtual pipeline by compressing the gas and trucking it to the mine. I don’t know whether that proposed method has changed.

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.