Member Info for steve58

Afternoon Frank.

Seems any recent confidence in the board has evaporated.

Cannot believe we are under 1p again.

I still remember nr giving tea and biscuits in the farm out room about 8 years ago. That's when it was supposed to start the ball rolling.

We shareholders have waited long enough.

Come on Tom Doug and the rest of the team give us some good news.

Our fundamentals are showing NAV at December 2020 of 2.33p a share.

Surely this would have increased since then.

Major rerate.

Just hasn’t happened if it ever does.

Bit of both here at the moment.

I know what you are getting at.

Wouldn’t wish it on anyone.

Welcome back.

A few old names returning.

Something definitely brewing.

The main problem has been the slow and difficult way business has been in Tanzanier has probably put off many companies with wanting to do any business there.

Maybe the change of people in government will help but has this change come too late for us.

Most of the big players have gone elsewhere.

Sorry for the doom and gloom, but we are definitely stuck in a vicious circle at the moment.

We sell it (ARA ) seem the only possibility at the moment, or we keep an asset that we can’t afford.

Morning Chris.

Has to be sold soon.

It’s taken 8 years to get this far and I’m not sure how much it has cost us so far.

Another 3 years or more and $27 million to ffd.

That’s close on $50 million total spent before any income from Ruvuma.

It certainly won’t be funded by the biogas business and shareholders certainly don’t want further massive dilution.

Let’s hope the board have a buyer and soon.

Looking at the sp the market seems to be losing interest in the company due to the slow progress all round at the moment.

You have a point.
I suppose if they have to dilute they may as well do it big time. To drill to production and expand the biogas business.

We should get some idea of what is happening with Ruvuma and the expansion of the current business in the next few weeks.

Evening Chris.

A part of me would still like a large amount for a complete sale, but as you have said this will probably only happen closer or even post drill. We obviously do not have the cash to take to production. Dilution is the last thing shareholders want more of.

I think if circa $20 million is offered it should be accepted.

That way they can expand the current business rapidly without further dilution.

I know $20 million just about gets our Ruvuma expenditure back.

Nearly ten years in the making. They need money to expand the current business strategy.

Let’s hope it gets sorted favourably.

The only problem is, will anyone want it at a much higher price. If they wanted it I’m sure an offer would have been tabled by mow. Maybe it has and is too low for the board to accept.

We could have got ourselves into a tricky situation here.

I had a reply from Charles Zorab.

They are waiting on NXT to provide more financial information and get their accounts filed.

We will then file ours.

Complete and utter farce imo.

Why pay fines when we have no money anyway when the accounts can be adjusted the next year to 31st December 2021.

Let's hope it gets sorted and soon.

I'd better get another 23 shares to add to my portfolio.

If they do keep to drill the problem is money.
They need it for the drill and for acquisitions to expand the biogas business. That is why logically a complete sale is the only option. Unless the boards strategy changes once again. If they did I would think that would be the last thing they would do as directors of the company.

Afternoon Frank.

So really just two options keep to drill beyond this stage will of course require much more money. Or sell completely and reinvest the money growing the existing investment many times over in a relatively short time frame. Looks like that elusive dividend will have to wait.

Could be a buyer would want in before the asking price increases. Still hope for a complete sale although a smaller cash sum and 5% to 10% free carry may go down better with shareholders.

Although the board have reiterated that they want out of fossil fuels and focus on renewable energy biogas etc.

Afternoon Chris.

The sp needs news soon.

Hope it's the one we expect?

A small percentage held or free carry maybe?

If they do hang on until first drill results we may yet achieve nr's valuation.

Distressed or depressed poster IMO.