Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Guys has anyone actually been told by the company that funding for the projects is being worked on in the background. Is it mentioned anywhere or even hinted in RNS? I feel very much like Maulder out of x-files at the moment, I want to believe but there doesn’t appear to be any proof out there. The company has left us in radio silence for quite some time now. No further clarity on joint venture, CEO interviewing in UK, but no one seems to know exactly what she is interviewing about, she was supposed to be in UK already, but it seems to have been delayed. Any ideas of what is actually going on there, would love to know if she’s making actually progress or just staying in to wash her hair? Any opinions welcome? A concerned investor.
Hope you made some profit from Sirius, have never bought that share, though I’ve considered it many times in the past. For me it’s always been a big no chart wise. Seen many people get stung on that share. I have feeling one day I will get round to it, but only when the charts look just right.
Joe I will admit that I don't agree with everything Daz says in his posts. However I do like to hear his opinion. I take every opinion on hear with a grain of salt. I myself shun from giving price predictions or telling people to buy or they'll miss out. I just give my opinion & let people take it as is. On the other side if I were looking for re-entry I would wait patiently on the sideline basing my re-entry solely on technical analysis. I do not justify peoples attempts to bring the price down for their own selfish gain. However sometimes I like to get both sides of the story & want to know why people believe what they do. Daz has shown many times on here that is capable of seeing both sides of the story. The conversation is not necessarily all one sided, Hence why I don't mind conversing with him.
Lol... Just to clarify I'm invested, just debating the wording on the funding RNS. From the looks of things our conversation doesn't appear to have hurt the SP one bit. 30+ looking very positive.
Ben, it is shame that Zimbabwe is not so up in the air at the moment, the president is currently on holiday & is extremely busy at best of times when he is in office, the Vice President, has only recently got back from being critically ill in hospital in China & is going through a rather complicated court case with his wife who is suspected of trying to knock him off & launder money. Then you've got the general state of the company as a whole which is suffering from hyper inflation, food & power shortages, machete gang violence. The list just keeps going, however despite that some signs of diamond progress are being made there too. Very muddy waters indeed ;).
Daz, It is shame we can't get hold of the actual deed itself. I would certainly like to see a more detailed breakdown of each requirement for each tranche. The due diligence is most likely the cause of the delay, as these things do take time. The company have stated "shortly", but shortly could mean anything. The part I'd like to see more detail on is "and over time completion of formalities on the Diamond Concession following grant of mining licence." I would have thought given that the company has made the request to draw down, that T1 is not necessarily subject to the above, otherwise why would AP have bothered to make the request, unless the company are expecting the diamond deal to be signed imminently. The above statement is very open to interpretation. It mentions "over time completion of formalities", which gives me the impression that the funding would have started before those formalities would need to be met, & as such effect the drawdown of the later tranches instead, but then states "following grant of mining license", making me think that diamond deal would need to be signed before any funding would be released. I wish it were a bit clearer in that respect.
Daz, where is it stating that further due diligence is required before Atlas will agree to releasing further drawdown? I can't see that mentioned in RNS, was it mentioned in any podcast? I would have thought that the required due diligence would have already been done when they agreed to the funding terms originally.
I just tried searching using the follow:
site:https://www.lse.co.uk/rns/VAST "Williams"
Nothing came up, but same search with "bud" instead gave "loan bud" Tr1
Think we could get a TR1 shortly perhaps?
It makes sense to use Atlas to get the ball rolling. Once things are more positive BP cash flow wise, re-financing with another lender for a longer term with less risk seems the logically approach. Similar as you would re-mortgage to avoid paying higher interest, once the fixed rates expire. It may not be as straight forward as re-mortgaging though, as any new lenders will want to do a fair bit of due diligence before coming to an agreement. As I understand it, talks are still ongoing with Swiss bank & other investors. I believe the JORC results will most likely tie in with these discussions. They need to prove that BP is in fact the cash cow that they believe it to be.