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Orders coming in. Hotel being built.
Government contracts.
Let’s hope an ipo and monetisation of Leed 950k shares isn’t too far away.
Is it really six years since our last gas sales income.
Good to see that the board have been hard at work since.
Due to the sheer lack of strategy the last four years. All of the millions spent and hardly anything to show for it.
Now the board are sitting in their backsides waiting for the Ruvuma sale to complete if it ever does.
It all boils down to the Fitzpatrick regime and money for old rope routine.
The money was raised from the various asset sales over 8 million and we have half an AD plant to show for it.
We can all blame nr for the start of the company's decline but without his legacy assets this new board would have been history by now along with the company.
We await the first $3 million whatever is left of it.
Their options will surely expire worthless unless they get some shareholder value into the company instead of sitting on their backsides waffling on about what they are going to do.
We were told about three years ago that we would have 20000 barrels of oil a day equivalent within five years coming into the company.
We currently have a few hundred gallons a day of pig ****.
Just about sums things up the way the company is going.
Could easily be double or treble that on first interim results come production.
Investors can then see just how much money they are making.
I think there is a way of paying dividends converting the deficit on reserves by way of the share premium account correct me if I’m wrong.
The mine hasn’t even been constructed yet.
Plenty of others lining up to take our millions in the meantime.
Exploration costs, legal and regulatory costs.
Does make me think is it really worth all the expense.
They could have had some other multimillion business up and running years ago.
Not sure if longstop date can be extended.
Maybe we can keep the advances and the asset.
May even be for the best.
If we kept it shareholders would probably be happier than with the current crap deal.
I can see a share raise at a much higher price.
The board should ditch their so called strategy and go back to where real money can be made.
We could easily make that $16 million in under six months. Why wait 20 years for the next AD plant.
At least we won’t have to worry about getting the board to resign.
Apparently we would have 90 days from when they ask for repayment and at their discretion it can be converted into shares.
Nothing like a bit of dilution.
Ot is starting to look like it.
A crap deal that looks to be in no hurry to complete.
A board that has spent millions and achieved almost nothing.
They have been spending having due diligence done on deals that never start.
Complete farce.
Maybe the board needed to go although probably too late now.
Over four years for half an AD plant and a name change.
Was the promise of more deals bit without money they won't happen.
Apparently it is the Ethiopian government have to agree the deal.
If that is the case may not happen.
I think the drilling licence expires in three months anyway and that took ages to renew it last time.
Not sure of cash situation but can't be much left.
Morning Chris.
If we ever actually receive it.
Longstop date approaching fast.
No money for AD plants.
I think the prolific loan has now been settled.
Not sure if still holding helium one shares and nothing on the £250k that was going to be received from an old share investment.
Hope for some news soon to get the sp moving in the right direction.
Gas price is actually lower than when the deal would have gone through.
Although we would have made tens of millions in profits in the last two years so would have been paid for and we probably would have kept our Ruvuma stake.
Well at least we have 1/2 AD plant and £5 in the petty cash tin.