GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Ufufuo, when I read that rns it seemed like scir were trying to deliver a kick to the neither regions to aex/ara. Seems a funny thing for them to say without being a joint announcement. It's been said that ARA have said they'll simply outspend SCIR by Trimme on the other board and I have no reason to doubt him. He has mentioned conversations with their former ceo that are of no benefit to him previously. A little hostility there, but good to be able to get some transparency for shareholders. I hope whoever takes the SCIR stake isn't the zubairs and is publicly listed. 1. For news flow, 2. It means any default from aex and the 25% is split between the two making it a less attractive if not inconceivable.
Why is that interesting? The pipeline is to transfer oil from uganda to tanzanian ports for exports. The interesting bit is the addition of the gas pipeline to transport gas the other way. That's the 2025 part (I think).
I dont think the market is valuing ntorya at the moment, more the situation aminex finds itself in with little funds to keep going until the drill. Delays are not exactly unlikely and now it's been declared first gas is 2025, seem quite possible. You can see why the government were in no rush to sign off the farmout. I dont think they'll be too much delay on the current timetable, but I doubt many would bet against at least some. If they get to the drill I hope they raise some capital on the upside if successful. They've seemed reluctant to in the past and 2025 is a long way off.
There is hope Ariel and I wish you luck. I'm just a bit suspicious of the need for them to shout prematurely.
I agree Mrc that nothing material has changed. Some positive statements, but nothing material. The 20 mil read through for ruvuma rings alarm bells when its 2.5 mil and a carry for the rest. All seems a bit rampy in combination with Malcys promotional interest. Maybe this time they will pull something out of the hat, but I'm not sure you can say 'things have changed'. They've been quiet for so long, why not wait for the coming 'months if not weeks' to announce the deal they have in the pipeline. Fingers crossed they get something across the line.
Cheese, you know full well that was a bed and ISA. Maybe get the Maverick ID out to backup your thoughts. Must have been a gap filled? Just wait for the timeline proposed and hope it doesn't get pushed out for any reason.
When the drill was asap after the farmout, there was still cash till maybe April. There seemed to be a way (by drill/spud) to get a market cap big enough to raise enough to get to production. As soon as the drill was moved to q1 2022, they were clipped at the knees. Other than ruvuma, the assets have little value at present so no farm-in there. Only interest on loans (if lucky) or dilution of ruvuma seem like options imo. They risked $5m cash for 50% previously. I know that is painting it ultra negative, but it is what's happened so far.
Tanzania, see here https://www.lse.co.uk/rns/AEX/ruvuma-licence-extension-granted-dfdvdbo7dvtru40.html
Totally agree re Malcy. Also on aminex coming out and outlining what the strategy is now moving forward. IMO the plan is to hunker down and that's not a bad thing long term. Probably not the best message to put out there though. What doesn't help though for PIs are the constant carrots in the rns, the latest one being that this reduction of the BoD is part of other initiatives. Maybe I will be suprised and the will announce some progress other than that related to the ruvuma work programme. I just dont think they have the means to currently.