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Without doubt the asset value is there but that asset value is incurring extortionate finance costs and maintenance costs. You can look at the ground value when you are doing something about the asset development and presently we are stuck for past 4 years. The pain is reflected in the share price.
There is no point in reporting anyone. Its JA who has to deliver and may be he does. Until then the SP is in doldrums .
I believe the RNS regarding rig and funding will come ta the same time and drilling is definitely planned in the 1st half of 2024. TRP will allegedly be making payments to the suppliers sometime next month!
I have not suggested dishonesty. JA is experienced enough to know when actions speak louder than words and I believe this time in Sept 2023, he should have delivered as speculated by himself. Good luck and lets hope for PROGRESS
JA finance deals have been horrific to put it mildly. He has spent over a few billion shares in fees to raise scraps and destroyed shareholder value. The adversity is compounded by not delivering on the rig despite several promises. That's outrageous and unforgivable. You only have to listen to his video and how he was wishing that he could deliver by 30.09.23 and look where we are. Actions speak louder than words. So far we have words and rinse and repeat.
There is no negativity about the prospects of the company. Its just that JA fails to deliver repeatedly. and by his own admission, SA and Namibia are far way in the plan.
Nothing will happen in SA or Namibia until TRP conduct a 3D survey costing millions and they can present to a major with X marking the drilling spot. TRP is just wasting money via confetti in useless fees . JA has proven himself to be a complete failure . Show me the rig contract!!!
I would not hold my breath waiting for JA to deliver but hope its breathtaking when it comes.
This is 2023 and not 2019 and the only progress so far is a massive increase in confetti in billions. it will be a miracle if some major comes through now with some interest in Namibia. Fir a start lets get that rig contract sorted , assuming JA is up to the task. May be the delay is due to discussions with one of the funders , which too are taking forever!
All the confetti is going in paying fees but no wonga for TRP . what a waste.
No such move is likely here. JA needs to deliver. end of.
The fact of the matter is that the incompetent GL and his mates have been up to no good and cost the company a year's revenue in costly delays and exorbitant finance not to mention dilution via those mates. now that production is permanently streamlines with lower cost base, buyers will return to recognise the completion.
All the fat ladies passed away with news starvation on the rig and financing!
I think we are quite close!
Another RED day courtesy of JA. surely JA did not lie to push out a few fee paying confetti which left nothing in the TRP bank.
So far one way traffic towards selling. JA needs to get a move on.
TRP is a leaky ship and when the news are really imminent there will be buys flooding in.
It was a sell. Come on JA. Rig news please NOW.
One would think that if only JA pulls his finger out and sign the rig contract. TRP was better off doing a mega placing two years ago raising the 15 million needed when the price was good instead of diluting us four folds and still seeking funds.
The total MV of Cameroon is around $250 million. Knock that down to half for dilution caused by funding the drill and we are down to $125 million. Once the rig and licence is confirmed the value should be close to $25 million and it will rise when the drilling starts sometime next year.
Unfortunately we keep suffering from false dawns and the likes of Kever keep promoting "knowledge" of imminent good news which are OVERDUE. Its disgraceful and unacceptable that the rig contract is sill not finalised and JA was implying that we are extremely close. Its time it gets done.