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I have been critical of Lorna in the past and the BOD.......BUT...having listened to her interview today (sadly missed it yesterday due to work) and the facts it was a very positive interview and I am starting to gain faith in her. There are more positives than negatives IMHO at the minute and only time will tell what will be next.
Quote - 'This placing enables the Company to determine the next stage of its work programme following the success of the Tai-3 and Itumbula West-1 exploration wells.'
4.7 million to spend on determining what? Sounds like a load of Jollies and back slapping to me. I want this company to be a success but I have serious doubts about how the whole operation is run. The devil is in the detail.
Lots of people talking about another placing hence why it feels that the SP is stalling after a few good days. Surely a JV or buy out with a company that has the skills and resources to take this further (commercial) makes sense? Lets not forget the chaos of the recent AGM and the amateurish style of the board. What on earth would they do with the cash, go back to drill site 1 and waste it all again? My view is this now need professionals to take it further...but what the hell do I know.
So as a number of our fellow investors have said its probably going to need a buy out or JV to take this commercial. In that case (and only sensible replies please) what are peoples thoughts on potential share price if we were to entertain an Exxon, BP or Elon Musk? BTW and for the record I was wrong....as a long term holder I was convinced we were going out of business....unlike my wife happy to be wrong.