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I for one have no issue with the sale of WN, or at least RBD's share of it. Please bring it on.
The problem is that nobody will want to touch it without it first being proved as economically viable.
It does make you wonder why the directors of Raithlin are dragging their heals when it comes to financing their share?
Faced with the prospect of a huge payout if the drill is a success, I would be digging down that back of the sofa, looking for every last penny to finance it.
Considering the current MCAP is £11.11m and the cash injection from the sale of Victory is roughly half that.
Theoretically the MCAP should now rise by 50%.
I know, this is AIM. Expect the day to start and end on red.
When you look at both the Daybreak and Colle Santo deals, it would appear that in both cases the undynamic duo have been sold a dud.
It does make you wonder what exactly was in it for them, as they clearly do not have the LTH in mind when they did these deals.
When is the EGM? Cant wait to cast my vote. I gave them the benefit of the doubt last time, but I'm not one to be fooled twice.
Don't forget that there are many LTHs here who have an average much higher that 0.15 - 0.25p.
If the offer from the new board is in the region of 0.4 - 05p that would get every PI here throwing in the towel and trotting off into the sunset with a smile on their faces.
I would be one of them.
If anyone fancies calling LCC and asking how the appeal is progressing, the case number Reference is:
APP/Q2500/W/22/3296831.
The case officer is Stephen Wallis.
It looks like the decision is still in progress from perusing their website.
Morning all.
GP. The appeal result should be in anytime now. They said 48 - 52 weeks for a decision, so it could land any day now.
Chat. I would have thought WN is currently in the spotlight for drilling the production well.
After that is done, then DB and team can focus on Bisc. I reckon we won't see any activity there for at least 18 months to two years.
They may just prove it up and sell it on if it is a big as they think.
Speaking of Biscathorpe, LCC did advise previously that appeals are currently taking 48 - 52 weeks to complete.
With that in mind, the hearing date was 48 weeks ago. Therefore we should expect a decision any time between now and the 11th of October.
Fingers crossed for all LTHs.