Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
‘Tower Resources has executed a contract with Borr Drilling for the Norve jack-up rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The rig is currently busy with existing contracts to deliver a series of wells, whose timing is naturally subject to operational uncertainty’
By the executed contract definition, an executed contract comes when a contract is fully signed. It is now legally binding. A business relationship is created – and parties to the contract agree to fulfill legal obligations
No we don't Kread - and absolutely no reason to listen to an utterly clueless clown thats got nothing better to do than spam this board daily despite the fact he claims hes not invested
Go get a life and a better paying job so you can average down !
See - https://www.offshore-energy.biz/borr-drilling-jack-up-rig-going-to-work-off-cameroon/
‘Tower Resources has executed a contract with Borr Drilling for the Norve jack-up rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The rig is currently busy with existing contracts to deliver a series of wells, whose timing is naturally subject to operational uncertainty’
An executed contract is legally binding
More details here from 12/02/24 which confirm the 08/02/24 RNS
https://www.offshore-energy.biz/borr-drilling-finds-more-work-for-three-jack-up-rigs/
The offshore drilling player has been awarded a contract extension by BW Energy for the Norve jack-up rig. The rig’s assignment has been prolonged for approximately two months through July 2024. This extension comes after Tower Resources hired the rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The jack-up is expected to mobilize to Cameroon between June and August 2024, subject to its existing contractual commitments.
News has to be imminent IMO
Yes I think that sums it - if JA completes the jigsaw with the finance or JV we get a massive re-rate, if he fails then we could be fecked, risk assessment potential 10 to 20 x gain v maybe up to 50% loss = make up your own minds !
I think as previously discussed JA couldn't possibly have renewed the licence without showing proof of either financing offer / and or JV offer, as this was a condition of the terms, which by the history of this is understandable
So there had to be at least something in place at the time of the renewal and the rig certainly wouldn’t have agreed to book time in July / August without either iron clad assurance / deposit or proof of JV
Come on JA spill the beans !
Hmmm very interesting no expansion or even mention of this from the 11/04/24 update
‘MED is currently in discussions with various potential debt and equity funders, including banking institutions that are interested to provide the necessary capex funding’
Sounds like somethings cooking - blockbuster update to follow shortly very possible
Shorters and trolls should surely find the following comment so intriguing from the last RNS
‘MED appreciates the ongoing support that RiverFort provides to the Company and Pyebridge’
Yes wouldn’t any £1 mill mcap company (£700 k at the time) without any cash flow that miraculously manages to borrow up to £4 million (against supposedly worthless asset value) with very favourable repayment terms
Yes the agreement is iron clad with Riverfort set to earn 12% per annum so long as MAST deliver what they have promised Riverfort, but perhaps like the trolls Riverfort should have also done due diligence too 😉
On a side note, I do find this specific quite unnecessary statement intriguing in another way - one for you’s to 🤔 about
Yes it seems so folks but I don’t believe I posted anything specific / or that constituted an iota of inside information - obviously some anonymous jobsworth on this BB, either way I can’t say anything more
Have good weekend everyone ! 😊
It just consolidating and clearing the last sub 50p sellers before moving up later today, as plenty profit to take for those that bought in 6 months ago and longer, unable to comprehend the significance of a small Yorkshire company signing a major contract with Elon Musks spacex
The share deal is very clever as virtually guarantees further enhanced business with space x, in the meantime Filtronic will simply use this deal as nudge factor collateral to immediately open doors to other rivals and companies with new deals potentially arriving within days, which could eventually compel Musk to launch a T/O as he won’t want rivals benefiting
Having just spoken with an old contact within the company, pretty sure this is their plan going forward
‘Hold until relieved’ 😉
There you go https://www.telegraph.co.uk/business/2024/04/24/elon-musk-spacex-invest-british-engineering-company-garage/ they'll be all reading about it tonight
Yes todays news is significantly undervalued (the open gap didn’t help) but I believe will re-rate strongly over the next few sessions as news gets out - not only is it significant that musk is now involved it will also open up lots of other doors and more contracts plus from potential space x rivals
Hmmm I wonder if musk will want this to happen ?