Member Info for Piltick

In his interview with Justin Waite around the middle of June, KA said that he was still wholly confident that they were going to be able to start delivering material to the site by the end of this year. I thought at the time, that means that he is not going to meet his previous target of having the first commercial unit up and running by the end of this year. But he didn't mention that at the time. Clearly he was aware at that time that they weren't going to hit the target of up and running by the end of this year, and really it would have been better if he had come clean at that point rather than gloss over it, because it was fairly apparent to anyone who had been following the progress.

Make sure you put these question to them at the AGM, dolphin, and publish the answers you get on to this BB so that we can all benefit.

Another substantial positive for TLOU, I believe, is that one of their non-exec directors is Linah Mohohlo, who is retired governor of Bank of Botswana. She wouldn't have joined if TLOU was a dud!

Does anyone know when we might expect the result of the independent engineering verification? I haven't seen an expected date from the company.

Actually, pomander, KA did give an update in his interview with Proactive on 20th June, when he talked about about completion of FEED and permits within the next couple of months i.e. by mid August. Perhaps you missed it?

Now what was that you said about shooting from the hip?

Isn't there a saying that the market is always right? Was it right at the close last night?

Wow!

Spot on Sprog. In order to obtain debt funding you need to be in a position to provide collateral which means fixed assets (i.e. units) and a contract with an income stream that the bank can use as security. PHE isn't at that stage yet, but should be there when they build their first and subsequent commercial units. For anyone to suggest that PHE has failed in some way because they don't have debt equity is nonsense.

It's not semantics, pomander. You made a statement that implied that PHE had tried to secure funding, and that they were unable to do so. As far as I am aware that is not the case, unless you know otherwise.

Seems to me that it is you who are misguided if you would expect a company at this stage of its development to have already secured debt funding. I wouldn't expect that at this stage, but you seem to regard the lack of debt funding as a criticism or indeed failure of the company. You go further because you state that "...Phe is unable to raise more conventional debt funding..." which surely implies that they have been trying to do so. I have not seen any evidence that they have been actively seeking debt funding at this stage, although they might do so when they require finance for a commercial project, and at that point some debt funding would be appropriate.

Pomander: "I would also ask why Phe is unable to raise more conventional debt funding on a meaningful scale to see this project through to commercial delivery..."

What evidence do you have that PHE tried to raise debt funding but failed to do so? Can you tell us what bank or institution they have approached and been turned down? I am certainly not aware of this.

Paul Vonk keeps stressing that Angus don't do fracking anywhere, so shouldn't be a problem anyway.

I'm not surprised. They tend to be unaware of anything that's not American.

If it was worked over a few days then each transaction could have been at a different price, but in the end it will be reported at the overall average price, so that really won't have any bearing on the mid price at that time.

My feeling as well, Newboy. It could just as easily be a sell, worked over a day or ever two or three days.

Forget Brexit - when negotiations fail, Section 50 will be cancelled and we'll all be back to where we were. It will all have been a bad dream!!

The timescales I'm quoting are those given by KA in his interview on Proactive on 20th June.
Of course we may get news of the independent verification of the technology before then. I'm not aware of any timescale having been given for that.

If these really are buys, then they certainly wouldn't have been filled in one go. Probably several transactions over two or three days, so I agree with maninshed that this is probably why the MMs have been on a few fishing trips for stop-losses to fill them.

I'm hoping for an update on FEED and permissions in about a months time (mid August). Not expecting anything significant before then, unless anyone knows different.

Perhaps the majority of investors are not scientifically minded, and may not fully understand the technology nor the significance of these sorts of developments?