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Once bitten ,getting my hard earned back will be a miracle never mind a profit ,you can ramp all you like matey.
The bod should be sacrificing their own shares ,never mind diluting other share holders. pity they are not paid what they are actually worth, although saying that nano dollars don't exist .
300M Development cost ,they are going to sell down to circa 50% to fund -so are we getting a free carry ? 8.5% of 300m is 25.5m That's a big chunk out of the valuation i would say .No one is going to give them any thing like pro rata evaluation if they sell it now.
The bod should be developing sponges they know lots about that subject.
Everyone hopes for a ' bit of luck', it helps to have a CEO that seems to be lucky. Unfortunately ours seems to be unlucky in spades. I believe that a good CEO appears to be lucky because he/she tends to make their own luck. luckily I did not use the word luck too many times.
I assume that pump unit is positive displacement type ,the burner tube having concentric pipes with the fuel supply using the inner tube and preheated combustion air in the outer.. The pump would need a none return valve and bypass line. The combustion chamber should be under a controlled suction via an induced draught fan to exhaust .The combustion air should be preheated by heat exchanger from exhaust .
Lets hope the confidence in the new pump design is justified, not just grasping at straws. You would expect the old pumping unit to have been tested at the expected conditions and beyond then inspected for wear and tear , but who knows. Proper planning and preparation prevents pi-- poor performance- The 7ps.