Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Uggy, I think RBD were hoping that a 'white knight' would come along before this time and give them a helping hand to bail Rathlin out. Now it would appear no one is there and they (RBD) will have to carry the financial burden themselves. Within the next few weeks we will know, one way or another.
I would not be surprised given the apparent lack of external funds to proceed with West Newton and the fact that Reabold Resources are already the majority shareholders of Rathlin, that a full takeover of Rathlin will be initiated before the end of June. That would obviously take time to ratify and push any already projected drilling timetable of W.N into 2025.
Delay, delay delay.
OMO and G.L to all us investors.
Uggy, I think there is more to this than meets the eye. Firstly many of those that represent the larger Institutional Investors were probably known to the joint CEO's on a personal basis prior to involvement in RBD, so they feel honour bound to keep there involvement through 'thick and thin'. Secondly if they pulled out now it would show up their own shortcomings and lack of professional 'nous'.
There is 'start and start'. Rathlin has to raise the finance first. Their major shareholder is Reabold. Have they enough in the kitty to pursue both the Italian adventure and the West Newton beyond initial drill? How many months/years will it take to order the drilling rig.?
Will UJO find more monies to help finance West Newton? Cannot see any third party riding over the hill on a white charger to assist. Meanwhile the clock is ticking.
Why you may ask.
Because the Labour Party will almost certainly form the next Government.
Here is an extract header from the Draft Manifesto.
"Commit to stopping the issue of new licences for oil and gas, while managing existing oil and gas wells sustainably over the coming decades"
Why you may ask.
Because the Labour Party will almost certainly from the next Government.
Here is an extract header from the Draft Manifesto.
"Commit to stopping the issue of new licences for oil and gas, while managing existing oil and gas wells sustainably over the coming decades"