Member Info for philwad

Thanks LTT, that's the type of reply I hoped for in the first place. It is a genuine concern purely because of the language used by the company in the recent placing RNS. I like your thoughts on why you'd raise funds pre FID rather than post although, if they were confident of a successful outcome of discussions with FIG, wouldn't they have waited until post FID to minimise dilution?

Appreciate your sensible reply, I'm just a bloke, currently in Equatorial Guinea, considering a buy and looking to discuss with people better researched that me. That's what these boards should be about.

Thanks Muchaboutmoney that's a logical point.

That's fine hsbilkhu, looking at your posts, you don't appear to offer much on here other than abuse and 'bin' anyone considering the potential downside. You carry on hopping around bashing your happy clappy tambourine, hope your strategy works.

It's not me stating its a liability fella, it's the company. Don't you read their RNS releases? It's in the one released 31st July this year.

'Further, in the 2024 Annual Report and Accounts, the Company provided detailed disclosure in relation to its disputed tax liability arising from the historic farm-outs in the Falkland Islands, including the recognition of a non-current tax liability of US$22.3 million. As set out in the 2024 Annual Report and Accounts, the Company recognises that the current position makes the project financing for Sea Lion significantly more difficult and has the potential to result in FID not being able to be taken or being delayed. The Company has continued to be in discussions with FIG to resolve differences and hopes to be in a position to provide an update in the coming weeks. If FID is not able to be taken or is materially delayed, this could have a material adverse effect on the Group's business, results of operations and financial condition.'

So 'an update in the coming weeks', well 4 have passed since this new release. So, as I wrote previously, this news will be a driver for any short term SP movement, probably more so that the FID itself.

Sirius are indeed long gone, along with my posts it seems, I presume because my account has been dormant for years. They were eventually bought out by Anglo American for 5p a share. I didn't post much over here though, it was mainly on iii (also long gone).

A colleague I work with suggested I look at RKH and mentioned the posts on LSE. I'd forgotten how asking questions on these boards is frowned upon and only positive vibes are permitted.

The company sees the FIG tax liability situation as making project financing for Sea Lion significantly more difficult and having the potential to result in FID not being able to be taken or being delayed. So, this is more likely a driver for any short term SP movement than the FID itself.

philwad, reverses back into the hedge, Homer Simpson style.

Ha ha some of you are funny. None of my posts have been deleted, they were on Sirius Minerals many years ago. I get it though, somebody asks a question and they’re instantly a ‘deramper’ or called something like that.

Don’t worry I’ll leave you to your rose tinted spectacles and blue skies. Thank you to those that did offer a sensible answer.

Afternoon, just considering adding RKH and looking through recent news items. Is there a risk that the disputed FIG tax liability and FIG approval of the Zodiac deal become interdependent and pose the biggest risk of a delayed FID, noting the same longstop dates on both?