Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
OPTIMALLY as per yesterdays RNS, ART had to get the finances sorted so he can now concentrate & conclude the RBL & JV negotiations to get the OPTIMUM deal available
We know that, its 5.4p
Agreed Eazy, I'd like to see them happening simultaneously as we can easily double our production output from our highs of 60,000+ bopm to last reported 30,000+ even though as stated were currently 1700-1800bopd this could skyrocket pretty quickly if we can deal with the pressures
All we need at present is for the guys on the ground to get on with the surface pressure upgrades so we can begin upping our production and become a self sufficient company! This is on the cusp IMHO
I honestly think this company will look completely different in the next 6 months, once these pressure line upgrades are completed then ART will come into his own to get the production figures firing on all cylinders. Watch this space
ITTD- What part of the statement below says anything about an RBL??
"The Company is working closely with its professional advisers to negotiate and secure a new senior debt facility, which the Company is targeting to draw down prior to 31 March 2023"
"Is fish back in the guise of Marky?"
Nah Fish will be long gone, never invested here, wouldn't surprise me if he was working for the BHs to manipulate the SP for what we are seeing today
Devil/Trujack/Andy
The debt repayment was from money in an account that the company couldn't (wasn't allowed) to spend on the day to day running of the company. If we could have, I can assure you this wouldn't have been used to service the debt
Problem we got Jiddy is that pre prospectus the bonds were convertible @16.75p (hence SP of 16p +) and now @6.75p, I'm not expecting a great deal of movement atm and the catalyst will come on a production update
100% agree Edgein, think its signed, sealed and delivered any day now
"currently at the tail end of completing a big refinancing"
Correct me if I'm wrong but I believe he then stated that the money will be used to complete the surface upgrades required. For those saying we'll get a placing, I beg to differ! This refinancing will be for a substantial amount of money, not for admin and to keep lights on IMHO. RBL anyone??
The MMs dont seem to wanna move it up
Not forgetting this duster:
"with a further update expected in the days ahead"
more news just around the corner
"They wont get an RBL signed until the covenant issue is resolved - no new lender is going to sign up while this is happening."
The covenant issue will be gone if we get an RBL
Could that be the next bit of news to come in the next few days?
ART123- In the bin you go
Sea of blue, how's the MMs lined up please?
I was hopeful we'd hear something, although we do have until COB on the 14th (later on in Canada) to ensure we cover the covenant and obviously the flaring hearing today too
Good or bad, we should hear something today, even if its just to let us know we haven't defaulted on the SL $2.5 million we must keep in the bank.
Yes been banging on that drum, why did cornerstone investor approach AM with a deal? Same as JVP approached Copl
Can we vote to boot you off this bb?