RE: Presentation5 Jul 2023 15:32
Itsawrap.....I think it would be prudent to wait until the Annual Results are out (due September 30th).
The last accounts we can see were for the year ended 31st December 2021. What the spend since that date is unknown, although it was stated they had sufficient funds to last them for a further 12months.
Basically the West Newton project is mothballed until further funding is forthcoming.
I would not necessarily bank on UJO providing more, my hunch is they will stick at the present 16% which will obviously decrease if/when more monies become available.
Whoever may become further involved will be in a very strong negotiating position in my opinion to drive a hard bargain on a deal. Any deal will obviously have a detrimental affect for shareholders, and the share price will suffer as a result.
Personally until Shell pays up at the year end there will be little movement, as some of the drilling equipment's will be on long lead times with a percentage of the contract paid up front, monies which Rathlin do not have at present and still looking for partners as per latest report..
OMO as always.