RNS: 'Once drilling commences during the next week or two, assay results will be quick to follow and Agadir Melloul news flow shall be maintained in the months and years to come'
Drilling commenced 2 September so not long to wait....
Bonkers is just agitating whilst we await sign off. He'll disappear once the deal is announced. I do worry what will fill the resulting big hole in his life🤔 . Well, not exactly worry lol....
We need details of the 'meaningful savings' and 'forward strategy'. I've got one suggestion......how about Roland f**ks off?
RNS:
The proposed transaction if executed will be subject to Rule 15 of the AIM Rules for Companies and will be subject to shareholder approval with the Company expecting to publish a circular and notice of General Meeting ("Circular") upon finalisation of the SPA.
The Company is currently reviewing its ongoing cost base and forward strategy. Subject to completion, the Board expects to achieve meaningful cost savings and intends to return a proportion of the proceeds to shareholders. Further details including in respect of the Company's forward strategy are expected to be included in the Circular.
Are we going to run out of cash? We know how slow GOI can be slow in making decisions. The initial payment will not last that long if the BoD are taking their salaries. Other costs?
RNS:
· Initial payment of US$ 0.5 million on execution of the HoT
· Cash payment of US$ 6.5 million following GoI approval for the transfer of the 50% working interest
· Final cash payment of US$ 7.0 million 12 months after GoI approval
· All payments are subject to applicable taxes
Selan has been granted exclusivity for 180 days during which Synergia and Selan are to finalise a Sale and Purchase Agreement ("SPA") prior to requesting Government of India ("GoI") approval for the transfer of the remaining 50% working interest in Cambay PSC to Selan.