Member Info for jazzyjim

LL, there are currently 4.7 bn shares and more will be added with convertible bonds. Also 1.5 bn shares would be nowhere near enough if we are talking all equity and no debt. So this route would see over 8 bn shares and we have sales of 4.7 mt not 20 mt so the rofit is going to be a lot less.

Not sure what was in your email but not sure what options they have to evaluate at this point. There is only one option left as they have no control over planning delay or the outcome if there ever is one. Time for the sitting on asses option has passed, we need to move forward with Balcombe immediately.

Yes why buy an asset like Balcombe and let it sit while dilution from the finance to buy it keeps increasing. Surely you have to try and get value from the asset as soon as possible to save in dilution. Are the BOD competent? What are these extra costs for equipment if we go to Balcombe now? I hear that mentioned as a reason to do Balcombe and brockham back to back but what are the extra costs and is that the official reason or have they just said jack **** as usual. What are these costs compared to the dilution? Maybe the BOD have forgotten that they spent a lot of pi money on Balcombe!

Yes it is falling due to delays at Brockham but they got OGA approval for Balcombe and decided to immediately announce that they would be sitting on their fat asses and doing nothing there either. Why did they feel the need to do that when they are not too good at any other communications. Indeed what was the official reason for not moving on Balcombe when approval was received, I can't seem to find it. More importantly what is the reason for not moving now when there will be nothing happening for the next couple of months.

All debt at stage 2 was always a big ask but I still think there is a good chance it will be achieved. If it isn't then part equity and part debt is not the end of the world. The most important thing is that they can progress to production. Less debt would also carry less risk for the company and we would expect larger dividends sooner. The drop in share price would be temporary.

It is funny they do not feel the need to tell us what is going on at Lidsey but thought it was a good idea to tell us that nothing would be happening at Balcombe for a few months in the OGA approval RNS which crashed the sp. What an incompetent bunch of feckers.

WTF was the point of putting in the 'end of Q3' bit in the RNS. Why not say OGA approval is granted and the usual Balcombe will be tested in due course. What did they expect would happen. Yes people would sell and come back later now they have been given a timeline. Complete idiots. They have never been too quick to give timelines in the past and we have no idea what is happening at Lidsey currently never mind a timeline for it.