Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Market cap now just £3 million. WTF..! NR used to raise for this sort of amount without blinking..
And to think, we disposed of our Horse Hill interest for a total cash consideration of £4.5m..
We are most certainly in uncharted territory in terms of the global economy, fear and uncertainty is winning at the moment. I hope that SOLO can carefully plan and manage themselves over the next few months/year so that we survive, and that we can recover from these lows to true value in due course.
Best of luck everyone, praying for better times ahead. Stay safe.
Won’t be much longer before we hit the new long stop date at end the June.. what on Earth is taking so long!? Quite concerning that (based on feedback from Camarco) the company are yet to even receive a draft PSA to date. And the RNS’s from AEX reference media reports in country rather than actual feedback from the govt.
“ The Long Stop Date for Completion of the Farm-Out has been extended to 30 June 2020. While the Company and ARA do not expect to require this extended period to satisfy the remaining conditions of the Farm-Out, this demonstrates both parties' commitment to the transaction;
· If Completion has not occurred by 30 June 2020, the Advance will convert to an interest-bearing secured loan, repayable by 30 June 2021.”
Happy birthday and best wishes Frank ! When you blow out your candles, can you wish for 10p this year please ;-)
I must say that ARA have shown the absolute patience of saints. I guess it goes to show the inherent value in the Ruvuma acreage.. they surely would have walked away long ago if they didn’t see huge upside. Also, we must be incredibly thankful for ARA and the farm out deal agreed by the BOD. I know most were extremely critical when it was first announced. But we’d be absolute toast by now without it. Surely the licence is about the drop soon, it’s been such a long wait. Fingers firmly crossed!! Good times ahead!! GLA
Zebbo, I think Jon Fitzpatrick might have something to say about that! Also, the RNS says they’re funded for the rest of year for current commitments.
The issue will be when 3D seismic moves into the firm budget for year as SOLO will not get close to affording their contribution, hence opening the data room to fast track a sale/deal. I’d expect to see a similar deal to that which AEX struck with ARA, possibly even with AEX or ARA themselves, whereby SOLO retain a smaller % element but get carried on costs... id be happy as long as we kept at least 12.5%...
Yes. Especially when you consider that we sold our stake in HH for an equivalent of (from memory) £4.5m..
Market cap for the whole company now being just £7m is a joke.
Excatly JonnyE, if the govt don't sort out this mess sharpish it will be easy ammunition for the opposition. I am positive we will get resolution soon. Certainly seems like things are gaining traction now.
Peking, I believe we will get a tsunami of positive news and updates once the govt to press the button.. I’m pleased with the update. Good that all parties remain positive. A bit longer to wait, but the important phrase is “when” not if .. ! GLA
Yes CP, the noises are encouraging, I personally think that things are getting a bit embarrassing for the Tanz govt now, and they probably realise that.. can’t be too much longer now. Especially with an election coming up.