Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Stupidly cheap considering we've been granted a two year license extension.
Happy to pick up some more deal or no deal!
Is Asher going to pull something out of Santa's sack before the seasonal January placing?
Huge show of confidence :D
Here's another corker from APRIL 2019!!
As previously disclosed, the Company is planning to use a combination of bank financing and own or partner equity to fund the first phase of development at Njonji, including the proposed NJOM3 well. The Company has for several months been discussing a loan facility with a prominent African bank, for the Njonji development of US$15 million which could be extended to US$50 million, and the Company is still hopeful that such a facility may be in place by mid-May. With or without such a facility, the Company has also been holding discussions with several possible partners for the Thali license, which the Company also hopes may be concluded in that time frame. Any one of these options, or a combination of them, could provide the additional funds required to complete the current well.
So 3 and a half years and a billion long lead items later we might have 'possibly' secured financing for 40% of the drill costs plus. Oh St Jeremy, may I be granteth similarily the reserves of patience thou hast, for they are surely broader and of greater depth than the reserves of petroleum containeth in the Rio del Ray basin!
Cameroon Financing Update
Tower's near-term focus remains the financing and drilling of the NJOM-3 well on its Thali license, offshore Cameroon, which is planned to spud in Q3 2019. The Company is in negotiations with several parties to finance some or all of the NJOM-3 well, which it hopes will be concluded soon. The Company is also continuing to explore longer-term options for debt, equity or pre-financing of the remainder of the first phase development of the Njonji structure, which might or might not be linked to the financing of the current well. The Company's preferred route of financing is to conclude a transaction with an industry partner on terms that are favourable to shareholders, and that may obviate or minimise the need for further equity financing. However, depending on the terms of the asset-level deal achieved, it may also be necessary or in shareholders' interests to raise a portion of the additional finance via the issue of further corporate equity.
Feeling strong now
Won't be long now
Getting strong now
Gonna fly now
Flying high now
www.youtube.com/watch?v=xSmYAdiXb5M&t=9s
GONNA FLY FLY FLY!
HARLELUJAH!!! Pleased for everyone involved at the Appledore site.
Pity I sold out a quarter last week but them's the breaks! ;)
Thanks for the heads up, not working on Chromebook but I'll let them off I guess!
Pretty sure additional take up not possible with HSBC, some waffle about not been able to guarantee the size of allocation.
Have a read of the RI offer although not exactly clear. Can't even log in today, hopeless outfit!
Is Jeremy getting a sneaky little placing in I wonder?
Rocky looking undervalued shirley!
LOL
W***
Oh deep joy, a judicial review!
How about reprocessing the brine solution into JW's Islandmagee all natural Game of Thrones table salt?
'off' Asher (and his Pegasus)
Think the raise in August was mainly used to pay of Asher!
Kicking myself because it should have been obvious that the remaining funds were insufficient to cover a long and tedious 5 months spent achieving precisely nothing!
ATB Keasey/Smithy
I'm an incredibly bad judge of character but I actually believe most of what you've posted has been truthful or thereabouts.
Certainly the bit about this share blowing goat anyway ;)
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I don't think any LTH of INFA can be accused of lacking patience.
42% dilution at a share price we were sitting on a year ago says it all.
The bookbuild for the acquisition of H&W took 5 hours to complete and was RNS'd the same day.
Same placing price of 30p but wasn't at a 25% discount to the current SP.
Granted, that was to buy a shipyard for peanuts as opposed to a 'performance bond' but looks like this raise has gone down about as well as the European Super League!