Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Unfortunately Stas bankrupt scenario is much closer to reality / Don’t fancy that the Asset valuation will cover debt ? And all the while the BOD know what current production is but WILL NOT inform shareholders / or should I say Private Investors ? Completely corrupt. Cowan gone ?
Lest not forget they raised $4m at 30% premium of 2.6p on 5 OCT. Yes the process did support their own shorting as delays drove SP down from 4p. But still. Here we are… Pivotal… it certainly is right now..
“The Company is excited by the high degree of support and mutual alignment it has achieved amongst its leading capital providers and stakeholders enabling this pivotal financing and restructuring package:
Upsized equity financing of $4 million at a price of 2.6 pence per share, or +30% premium to the closing share price on 5th October. The funding was provided entirely by the Company's leading equity and convertible bond investor Anavio Capital Partners LLP”.
Ok Stas. “Is limited to disclose identity and nature”. Let’s see what they reveal ? I stand corrected but yet to believe they will reveal anything of merit. We shall see. We need one mighty RNS that de risks the whole year.
Give it a rest Panama. I’m 65% down. Sharebel has 100 minutes to break through 1p. Not hopeful despite my Averaging down. We need the RNS2000. Is it too much to ask for after 5 wk of injection ?
The BOD absolutely are Not going to declare who the JV LOI was with. When you look back / They could have committed to declaring such if JV failed to complete / thus giving credability to the process. But they never did. They never committed to ever revealing who it was / so why are they going to reveal who it is now ? No chance.
Going into 2024.
The only hope I have is that the BOD will allow maximum time before year is out for the GGS to actually produce 2000bopd / or allow maximum time before year out to register 1 days highest output of oil - Whichever comes first.
Formulating Guidance is incumbent on understanding miscible flood response to injection and thus they will need max amount of time before year end.
This is what I hold on to as my Investment decision was purely based on GGS. The JV was to do with Art and anything he touches turns to skittles.
Maybe the BOD are not releasing the RNS until we actually pump 2000bopd ?? Then as field stabilisation occurs obvs more to come. I believe once pressure builds up on the miscible then bopd exponentially increase. That makes sense to me given that initial injection offers no initial increase in bopd that is of note.
All the BOD need to does is release a cost effective plan to get to 5000bopd. Now they have made a commitment to get to 2000bopd by Q1 and offer Full year guidance. Either we have a billion barrels that is accessible and long life or we don’t. So stop stalling a deliver a cost effective plan to release the potential. Slowly slowly catch a monkey suits me just fine. The BOD plans have to be in discussion with Senior Lender who’s Terms need fulfilling mid point 2025.
Well that RNS was straight to the point. I can only hope that the BOD wanted to keep Bad News separate from Good News ? But I’m defending the indefensible here. No thought given whatsoever to Shareholders.
I mean … What’s wrong with informing shareholders that they have a plan b to get to 5000bopd ?