Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
What an absolute shambles, gotta ask the question but would we be in this situation if Pope hadn't decided to oust the previous board a couple of years ago and put in a gang of inexperienced directors. It's been a torturous journey ever since and to think that they also declined a legitimate offer from Nostrum too. Unbelievable..
Oilisol get TSX approval to convert the remaining debt into shares at $0.10. They now control 15.8% of Tethy's http://www.marketwired.com/press-release/early-warning-report-regarding-acquisition-shares-tethys-petroleum-limited-olisol-petroleum-2116489.htm All positive signs, now we need to know the conversion rate agreed upon for final stage of this fundraising and will Pope take part in it ?
Great news the nostrum loan has been paid off fully...extract from NOG Q4 results Further to the announcement made in the 9M financial results, Nostrum confirms that it has received payment of principal and accrued interest under the US$5m loan agreement dated 10 August 2015 between Nostrum as lender and Tethys Petroleum Ltd. as borrower.
I take it the different terms Nostrum refer to are bagging the whole lot once Tethy's enter administration, painful to watch this at the moment...huge % drops per day due to the uncertainty. Come on Tethy's give us some hope, even if it is an RNS saying that the talks are progressing well. Pope should stump up the $5 million repayment considering they shot down the offer
It would nice if it was true but unfortunately these guys are from Sweden....and doing pretty well by all accounts. http://www.tethysoil.com/.
Got this one so wrong, Nostrum turning the screws after their offer was rejected. Looking through the terms of the loan they seem to have a point. Were now potential in default to two companies. Needs sorting sharply.
I'm back in, the assets are just way too attractive for Tethy's to fall by the wayside...I can live with the dilution at 8p to raise the funds needed...3 suitors alongside potentially others in the sidelines...excellent new management...fingers crossed this will work out...oil on the rise too.
Viewing the June AGM presentation Tethy's are committed to CAPEX of $15m for 2015 for BOC. Some of this may already have been paid, reading the RNS again I would say the short term loan of $5m could cover the Tajik requirements and the $20m equity raise for Kazakhstan commitments.
They have got until the 9th October to sort out current funding requirement otherwise it will be breach of contract with the Bokhtar Operating Company. Edge of the seat stuff.
h**p://www.telegraph.co.uk/news/worldnews/africaandindianocean/burkinafaso/11870962/Burkina-Faso-coup-military-says-it-now-controls-country-after-arresting-leaders.html
Its good fair deal that allows existing major shareholders to have a piece of the action, I was hoping for a higher premium but that's a tough ask in this current environment. Sold up though after three years holding, too much uncertainty in the markets and news gap up until the longstop date in November. Good luck holders
The revamping of the website, new director gives tells me that this current deal isn't gonna come off...just a gut feeling hope I'm wrong
http://www.tethyspetroleum.com/investor-relations/news/release/708
I would expect a larger premium than 9p, but your right in thinking that deals done previously by AGR tend to represent fair value and that they do hold great favour with the authorities. Only 2 weeks to wait but I can see the exclusivity been extended another a month or so
Don't see any equity been issued atm, not at this price anyway. Tethy's should pay off Sinohan with the recent loan money then hopefully strike a deal with AGR bringing in new investment at much higher premium to today's price lets say for example 29% of the company at 18p that would bring in around £20m without AGR having to make an automatic bid for the company and be near PAM's average. Now that would be nice..lol
Does it not seem coincidental that since the Kazakh government failed to sign off the Sinohan Farm in. Up pops AGR Energy and the Assaubayev Family looking to get a piece of Tethy's. It should be an interesting few weeks ahead. If they do decide to invest in the company it should be at a much higher premium to today's price... closer to PAM's average
Aye agree, I see a debt for equity deal with Sinohan. Further farm down or sale of Tajik asset. Capital raise to progress Kazak assets and flush the Georgian assets down the bog. I'd feel like I'd won the lottery if it gets back to my average of 14p anytime soon or if ever
I'm a holder but appreciate there a substantial risk in investing here, the upside is huge but we need clarity as to what is going on in regards to our future funding requirements. I say wait for the RNS before jumping in with both feet. Made that mistake with Afren not gonna do the same here
Like Ado I've been in this stock a long time and have witnessed the value of the company depreciate quite considerably on the back of false promises and exaggerated boasts. I thought the management clear-out would tidy the company up but the sp is down 70% since the changes. Ado mentioned in January when the sp was 12p that it would go down to 5p then 2p..and he's been bang on..it nearly reached 2p a couple of weeks or so ago..he also mentioned that he though Pope are asset striping the company...I hope he's not right...but Pope could take over Tethy's for a minimal payment or wait for the company to default on it's loan repayments.
Gonna have to take the rose tinted glasses off, sp action suggests this deal ain't going through. I'd say the best we could hope for is a short extension... it's only the recent Kazak listing that might suggest something is in the pipeline but is it a case of too little too late ?