Member Info for Py494

Great news on the medical front Brad, must be a big relief. Nice day for it too :)

91 Brad, and a headache now, thanks ;) I'd agree some of the questions were ambiguous. Thanks for posting (off topic but as it's a Sunday... :)

Yep, I'd definitely (Verti)go with your first answer Brad.

Hi Brad. Yes, couldn't resist having a go at that test. My 160 is 'Albert Einstein' level apparently - so I wouldn't put too much faith in it :). Back on topic, nice to see some progress here of late. It looks like funding will happen now (even if it means more dilution), so for me, the gas flow numbers move back into focus. Would be good to know where we are with those (albeit with the reduced dewatering). To hear officially that we now have enough for at least the interim PPA would be a good start (unless I've missed that update?)

Brad - Mr Moagi does seem more pro-CBM (and just more pro imho!) than his predecessor but I have to wonder how much influence he has when the interim PPA that he asked the BPC to arrange with us is still to be signed. Hopefully nothing more sinister than (para)state inefficiency and/or the impact of Covid. Stating the obvious maybe, but getting that signed will be a massive boost to Tlou, will enable better terms for funding and should (imho) see a rerate. Fingers crossed, since April!

Great article Brad, thanks for posting.
"But government also needs to be decisive and move much more quickly ... the current invitations for IPPs to provide electricity from solar and CBM sources are moving at a glacial pace." - so true!

Must have missed the Mozambique RNS! :)

Well obviously Stephen Hemsley is actually Steve75 and our info convinced him to buy in bigtime! ;)

Brad, as far as I can tell my placement shares are tradeable as normal. They have just been added to my existing Tlou shares.
This is with ii and my purchase was for just less than my entitlement.

Hi Brad. I think you got the most cryptic part with RAM backwards! Tyre is an ancient city in Lebanon, important in Crusader times, without the 'E' for east. St Sebastian was a Christian martyr.
Here's a trickier one for anyone, why no interim PPA yet? :(

Apologies if already posted but just came across this from Lefoko Moag, Ministry of Mineral Resources, Green Technology & Energy Security, Botswana (but you knew that already :). Nothing new, but this is from April and still positive on CBM.

https://www.youtube.com/watch?v=5hmXE2kbL0Y

Lol, fair point whl, my mistake. Actually I am a fairly LTH, over 3 years now (with a double digit average to prove it, unfortunately!). However I still believe, and happy to stay LT for a year or two more.

Whl2 - I don't think anything is due soon: "...the Company's unaudited interim results for the 6 months ended 30 June 2020 will be published by 30 September 2020, and the Company's audited annual results for the 12 months ended 31 December 2020 will be published by 30 June 2021.". - RNS Number : 1478Q

Thanks for the link Brad, an interesting read. My theory of an exaggerated demise of the BPC is dashed then!
In an email exchange I had with Colm earlier this week, he didn't seem concerned about the interim PPA, maybe surprising given the state of the BPC.

Hopefully it's OK to relay this: he said a review of the PPA had been carried out by BERA (Botswana Energy Regulatory Authority) and as there were no major issues, they have approved it. I haven't heard that elsewhere and I think that's very good news. Tlou now consider the PPA 'virtually complete'.

Colm also confirmed my view that having the PPA (even the interim) would lower the cost of capital for the transmission and generation infrastructure funding. So I took from that that Tlou are waiting for the PPA before signing for the funding (although Colm didn't specifically say it).

Brad, if the situation is as bad at the BPC as that story said (it might be exaggerated, have you seen it reported elsewhere?) then surely it is 'too big to fail'?
I know nearby Eskom are in a bad way but hopefully the Botswana government would realise that they need the national grid up and running, and would step in.

I have never voted on any share before but I have done so this time. I use ii and it took less than a minute.

Good point Brad, thank you. The months to set up the infrastructure should buy a lot of dewatering time.

Evening.

Whilst we wait for PPA/financing news (surely coming soon) any thoughts on the following?

If I remember correctly, the last actual figures for gas flow were 20mcfd each from Lesedi 3 and 4. That is nowhere near enough for a 2mwh PPA as far as I can see. If the gas flows have increased massively to sustained amounts that can now satisfy that demand, would that not necessitate an RNS? And wouldn't the company be keen to announce it anyway?

So if the gas flows can't yet provide for the 2 mw deal, which is more likely? :

1. The interim PPA is for UP TO 2mw. The income would presumably be variable (depending on the power supplied) and would be unlikely to cover the company's costs. As a show of intent from the the government however, it should assist massively with getting financing and getting Tlou further towards being profitable.

2. The start date for the interim 2mw may be variable, i.e. once the gas flows enable Tlou to generate it. Seems unlikely a deal would be struck like that but maybe the government are willing to accomodate given the delays in the process from their side?

3. The interim PPA may cover solar as well, and Tlou will look to perhaps store some gas from the daytime, relying more on the solar.

??

Hi. Anybody know when the next Q & A is planned for?

Looks like they should be out on or before next Tuesday. Although with the current situation, I wouldn't be surprised if they're late...

RNS Number : 1478Q
Harvest Minerals Limited
17 October 2019

"...The Company then intends to release audited financial statements for the year ended 31 December 2019 by the end of Q1 2020."