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Is the press predicting a 5% VAT reduction and possibly business rates reduction too?
That would be a big help for CARD and would surely cover raised power costs.
They are only valued at something like 30% of yearly sales. Manageable debt now too IMHO.
This intrigued me:
"Company is continuing to discuss additional financing options at the asset level, as also disclosed on 29 June 2022, for additional amounts in the US$5-10 million range with various parties, in order to complete the well financing or more."
What is 'more' ??
"Tempted to sell"
I feel the same (just a bit) but where else are you going to go? I'd welcome the tip.
SHOE must have a cash pile of £15m+ and yearly earnings of around 10%. Dividends and buybacks on the way as they RNSed. Not at all bad compared with many.
This is around the net cash level and they are doing buybacks - albeit limited though!
Sofa sales are going to suffer when the consumer tightens his belt but if the share price is right......
RKTech made a good point - a normal bank wouldn't risk money on something like this.
JA seemed confident in that RNS though - why?
If Moneymunch is right and a new African Energy Bank gets involved, then this could be a big win-win for TRP and Cameroon.
Good spot bobbyaxelrod - thanks.
Not saying it is a good thing but I wonder what the chances are that the BOD here will want to get involved ?!
Yes - good spot that.
Unlike the previous reports there was no number put to the lease liabilities. Perhaps these are lower - they said in January they owed £7m for deferred rent so have they paid that?
The business is very cyclical too isn't it and the early part of the year may be loss making??
To add I know that Envoi have been in the industry for years and years, and I have seen their stall at many exhibitions and it has often been very busy.
It may be small but when you say that "Envoi who are a tinpot one man band outfit not worth considering in any business sense" you are wrong.
This has been mentioned before. The Operator (Tower Resources Cameroon S.A ("TRCSA")) is a subsidiary of Tower Resources - so it would mean 50% of the Cameroon asset only.
Having said that, unless they chose this route first (which they didn't) then I don't think it could easily be used because they may end up in a position where Beluga were awarded 50% of the licence by the Cameroon Government and also held 50% of TRCSA. An effective 75% or so.