Member Info for SpaceHoppa

Thanks for that information Pre2rcd.

It's strange that Rock have to "assume" something as important as a stay of enforcement being lifted, unless the previous contact made clear it will be lifted if x y z is performed, in which case it wouldnt be an assumption??

Unfortunately most of what happens at Icsid, and with Sea Lion, are not in the timescale gift of Rock.

Waiting and whinging is all we can do at the moment.

Fwiw, one can sell 500,000 for 11.2532pence.

Also been a while since last Icsid update, nearly 2 months now.

A bit frustrating as it was moving a bit quicker in the beginning.

'' I have exercised mine on quite a significant holding and sold them at at 40% profit''

I suppose Nick, that many are hoping that FID and or arbitration, will allow warrant holders to sell them at a significantly larger profit than 40%.

Simon Thomson as Non-Executive Chair v Keith Lough

Simon Thomson

Served as Chief Executive Officer of Cairn

Participated in and led multiple international corporate transactions

Delivered substantial cash returns to shareholders

Significant EXPERIENCE in the successful leadership of international arbitrations and legal disputes, including the collection of US$1.2 billion from Indian Gov

Keith Lough

Experience in the natural resources sector in both senior finance and general management roles

Founder and CEO of unconventional gas explorer Composite Energy Limited.

Chairman of Gulf Keystone Petroleum.

The only people who should be disappointed in losing Lough and gaining Thomson, is the Italian Gov't !!

Good find Buzzthomas.

Venezuela are not exactly known for their adherence to law, however even they, like India with Cairn, succumbed to the Icsid ruling and paid out 100's of $millions.

Italy will be no different, they will, and are, squirming, but the power of Icsid's awards has been demonstrated enough times to give me high confidence that eventually, like other sovereign states beforehand, will run out of running room, and pay for their breach of charter rules.

Thanks Citizen.

Page 13

https://ir.navitaspet.com/wp-content/uploads/2023/06/%E2%80%8F%E2%80%8FNavits-FS-Q1_2023_31052023_eng_NM.pdf

NOTE 3 - INVESTMENTS IN OIL AND GAS ASSETS

Sea Lion project

$16,728 to 31 March 2023

$14,025 to 31 March 2022

Up to March, Navitas had invested $31million in Sea Lion. Probably up to $40m by now.

Sea Lion is highly likely going to be developed, its more a question of when, not if, now.

h2 2023 is going exciting I think :)

Lucky, I am not falling into any game by pointing out that principle debt repayment for the initial tranche of $40m is a mere $4m a Quarter.

I'm not sure many had done the maths or looked into it.

If you add in that Hum are now taking ore principally from Sanioumala East, which is also relatively high grade at 2.5g/ton for the rest of the year, then it is quite logical doing the calculations, to believe that the company target of up to 90,000 oz in 2023 will be easily met.

Perhaps I have this wrong, but from the Oct 2021 Rns, it says

First tranche of US$40 million to be drawn imminently ahead of construction scheduled to begin soon after

The term of the loan is four years, being interest only for the first 18 months on each debt tranche once drawn, at an 8.5% fixed interest rate

Also 'Construction at Kouroussa commenced in December 2021'

Assuming that $40m was drawn soon after this Rns, perhaps Nov 2021, 18 months later is May 2023.

If they have to pay back the loan over 4 years, and the first 18months was interest only, then Hum need to pay back the first tranche of $40m over 48m minus 18m so 30months. $40m / 30months is $1.3333m per month in principle payments, or $4m a quarter!!

There is interest to pay as well, but $1.33m/month or $4m per quarter, plus interest at 8.5% is not wet your pants territory, as seems the theme of some posts I've read lately !

Just worth considering, that any scheduled debt repayments can be rescheduled, if required,

especially with a willing lender who can see forward earning potential,

and who have a subsidiary with skin in the HUM mining business,

and who should definitely want HUM to run their mines profitably.

Another one enders the forever filtered zone.

And you guys should stop playing the fools game and responding to his deramping Subject line !

ralph2010 Olliesky Kurgan2.0 Trop Michael2021 Godders99 Kurgan3 Bigred7 hydraides LaticsRule Mirasol

Decidedleaverage

July 10, 2023 - The ad hoc Committee issues Procedural Order No. 2 concerning the termination of the stay of enforcement of the award.

WRT the Rns saying

'provided that Italy does not within those 5 business days submit a reasoned written objection in these annulment proceedings that the escrow arrangements established are not in accordance with the proposed arrangements.'

It is unlikely Rock will err in opening the escrow account, however I half hope ROI do make up some Micky Mouse objection, as it will possibly again, irritate ICSID representatives.

It has probably been posted before, although I can't remember it.

Navitas PowerPoint presentation from just this May.

Page 10. 18 Wells ''online by 2026''.

They will need to get a move on !!

https://ir.navitaspet.com/wp-content/uploads/2023/05/Navitas-Investors-01052023.pdf

There is nearly £5million of warrants still waiting to be exercised.

Assuming the SP remains above 12p, I would expect nearly all to be exercised.

I have over 50,000 warrants that I haven't yet exercised, but expect to later in the year.

Thanks Citizen, and to add, from the Navitas update, per barrel cost - life of field, Opex being the largest portion.

Capex: US$7.50

Opex: US$20.10

Total cost: US$27.60

''Can somebody ask about oil shipping costs per bbl etc. and pricing for the oil and let us know? I felt it is important as I saw a poster recently, which believes that the 27$ phase 1 opex & capex costs are simply deducted from a 77$ brent price to give operating profit!''

Hello Header, it would be good if someone can answer you more accurately.

My understanding is capex and opex will cover all of the costs of getting the oil into a tanker, leaving as I said a 'gross' profit of price of cruse minus all lifting costs.

One still needs to remove tax and royalties of course, 9% royalty, 26% corporate tax.

Agreed. Thanks PaulDrayton.

That is the thing about Navitas, good things are moving along behind the scenes,

however we don't see it until Navitas are ready to announce. But undoubtedly they aren't doing all this work to say, naar, 275,000,000 barrels at $50/bbl gross profit isn't worth our time.

What was your previous moniker Decided?

You are right it's taken far far longer than anyone thought, however this time it looks far more likely Navitas will progress to FID.

'propose concrete arrangement.'

'Italy may then briefly comment on Rockhopper's proposal within 10 days'

One would assume Rock did propose 'mitigation of the risk of non-recoupment', and that ROI threw some toys out of the pram again in their 10 days.

However ICSID I feel are too established to be concerned about losers theatrics.

News quite possible this week LTT, but the wheels grind slowly as we all know.