Out of a cows backside.
They even use the stuff to try to make money.
Great to ser aminex flying.
Why couldn't ADT had offered us a free carry on a percentage and some cash for the remaining stake.
The board seem to have messed it up completely.
Cannot even invest further until Ruvuma monies come in.
The liquidation and distribution of funds to shareholders is definitely a no go in view of the current situation.
If ghe right deal came along I think shareholders would agree to further dilution.
Really need to get a much larger transaction in place to make money and enhance shareholder value.
An AD plant every three years is a complete waste of money spent.
Show the market that they can spend shareholders money wisely on profitable investments.
At least the fees arrangement has been terminated.
Seems they need the permission of some larger shareholders before share issues can recommence.
The company still exists solely to distribute the proceeds of the sale of NXT TEC whenever it happens. The investment and ultimately any proceeds thay materialise are held by the liquidator.
Hi Thompson
The company still exists on companies house and should do so until the investment is monetised and the resulting funds are distributed to shareholders.
The Nxt business concept seems to be expanding at a quick rate at last.
It is now classed as a late stage VC company. (Venture capital).
This means that it is gearing up for an ipo.
I keep updated by looking on the NXT TEC website.
News pages getting interesting and current and future projects as well.
The hotel is apparently being built.
ATB
Steve
That is correct, but probably easier to wait for completion.
I'm sure they will update on the cash position.
So the $3 million less any cash drawn that was not for Ruvuma expenditure.
It probably was anyway.
Any monies drawn for further ruvuma cash calls get added on to the $16 million total consideration.
Looks like only about $700,000 was for non ruvuma cash calls so should receive about $2.5 million on deal completing so about $18,500,000 less $2,500,000. So whatever advances were received on account of cash calls for Ruvuma makes no difference. We still get our full $16 million less non ruvuma cash.
A bit long winded but hopefully explains it.
Should double from here on completion.
Just realised the fees contract has been terminated and will end completely once the Ruvuma sale fee is paid.
Spotted ot on page 80 of last accounts at cos house.
Those were the days mc spiked to over £40 million on the news that 12 barrels of condensate were being produced from the ausible reef.
You might find the investment collective on telegram very interesting and informative.
Ifs placing is for a really profitable business then maybe it would work.
However they have squandered the millions they received for horse hill and the helium one investments so what’s to say they won’t do the same with the Ruvuma cash and or any placing monies. The problem is they spend hundreds of thousands on due diligence fees for investments they do not buy.