Member Info for steve58

We had three million pounds in the bank about nine months ago. We now have a much larger board to feed fees etc. IMO not much left now.

Doesn’t make much sense to me.

We already have a broker.

At half way stage.

It does make me think that three months is excessive.

I know the board have to get it right.

But then again they had six months up to when announced.

That's 9 months of chargeable time and fees.

Cash burn is worrying especially if deal falls through for some reason.

Probably seem pessimistic but the longer with no news doesn't bode well imo.

Good evening frank.

I think suspension has to be lifted within 6 months. So 9th April.

I would think if nothing announced within a few weeks it will probably be a no deal.

The part that would worry me is that a no deal would probably mean no loans or financing in place. Fees salaries other running costs have been incurred. As for Ruvuma anyone’s guess. Aminex raised a couple of million a year ago for spending on bringing gas production from the Kiliwani well. It’s obvious that this money has been spent elsewhere, my opinion I know but was our only source of income. Nearly two years since we have had any. Hope for some news on anything soon.

The longer the wait imo isn’t good news.

If this transaction is aborted fees have still been incurred and wages have to be paid.

We have had no income for two years. Not exactly mind blowing statistics.

Still no news on reef. Helium one imminent!

If deal fails our cash must be almost depleted. Would the loan be used or would there have to be a share issue and more dilution.

I for one want the deal to happen soon, but I do have my doubts.

Thanks for that although three months isn’t long.

I hope the acquisition happens albeit at a cheaper price.

Things are not moving.

Ruvuma nothing for weeks
Acquisition nothing for weeks.
Reef nothing for nearly nine months.
And finally just how long does a website take.

Fees and running costs still to be paid.

I know the board want the best deal they can get for shareholders and themselves but only about six weeks until shares have to be traded again.

Not as impressed with the new board as I was when deal was announced and they were lining up for their interviews. A video update of some sort would be useful.

As for the Ruvuma licence. If it drops then imo get out. Shareholders cannot wait years more for even a small return. Even then just how much of any income earned will be taken in taxes etc by the Tanzanian government before we get our share of what it left. If things don’t get sorted sooner than later then I cannot see many companies waiting much longer.

Happy new year to you.

Leeds stake was acquired very early so may have been acquired sub 5c a share.

Next are saying that ipo price should be $1.90 or more.

This would mean Leeds stake could be worth 40 times their investment.

About $12 million aus.

About 6.5 million pounds or .0002 a share. Ten times the price when suspended.

Looking forward to ipo.

Nxt has just over 76 million shares issued. These were issued at an average of about 4 cents.

Leed got in right at the start. My estimate is that Leed own between 10 and 15% of nxt.

Must be a case for an rto.

Relisting in London and company renamed nxt tec.

The big problem could be raising the finance although our board do have experience in these matters.

The probable outcome is that Leed shares are converted into nxt tec shares and Leed is wound up as far as the company is concerned.

We would then have holdings in nxt tec and be able to trade normally.

I think the only way they can have a London listing on aim is to have three years audited accounts.

Must be an rto into Leed as we have three years audited accounts and I don’t think they have They will then have losses to use against profits they may make.

Investment opportunity Leed resources.

Looks good to me.

An rto would be great.

Thanks for that.

The interesting part is how much Leed acquired their shares for and how much they will be worth after the ipo.

Another point is what percentage of nxt tec is owned by Leed.

Could be a good time for Leed to do a rto into nxt tec.

We have a few million in tax losses which are worth a million or two in tax savings.

All the best for the new year.

Steve

My view hasn’t changed.

If this deal goes ahead which we all hope it does and further deals of similar size follow.

We should be well north of 20p within six months.

I am looking at least £1 by the end of next year.

Rising by at least 50p a year to be at £2.50 to £3.00 by 31.12.2023.

Well that’s my prediction out of the way. The board did say mid cap within three years which is in excess of a billion market value.

Hope everyone had a good Christmas and you all have a healthy and prosperous 2020.

Merry Christmas and a prosperous new year to everyone.

Hope you enjoy your calendar.

What does concern me is if the deal falls through and trading in the shares continues.

I assume the change of name would have to be agreed by shareholders.

The problem is these acquisitions cost millions in terms of fees and finance costs.

If this does fall through it will have been expensive and ultimately it's the shareholders that are paying for it.

Of course if for some reason the deal falls through fees have been paid.

Our cash is being depleted.

It's who those fees have gone to is the bit that concerns me.

The directors have surely worked hard to acquire these assets. However they still get paid whatever the outcome.

Our answer to why it is taking so long.

If this deal falls through. How many more months if not years before the next one.

Imo the price is too high as assets are depleting.

Maybe that is the problem output is falling at a faster rate than expected.

Why leave it 2 1/2 months to inform shareholders.

Once this deal is closed, future deals would probably not be classed as an rto given the much larger size company they will be. Therefore deals should happen much quicker.

Evening chris.

Just disappointed by the slow progress.

I appreciate the deal is a company changing one and needs everything done properly.

They state they want to be a mid cap gas exploration and production company within three years.

At the current rate of progress they need a deal this size every 3 to 6 months.

It’s just the constant waiting especially with ruvuma and helium one.

We just need confirmation that all is on track for the deal to complete very soon. An idea of when would also be good for sentiment.