Member Info for steve58

Seems the investor presentation didn’t stir up much if any interest.

We have been loaned $3.2 million which has to be repaid out of sale proceeds so $200,000 down on the deal already. The Tanzanian government are after a share of the proceeds as tax.
Mustn’t forget the selling fees.

The AD plant expansion may have to be put on the back burner.

If the Ruvuma Sale deal wasn’t so awful.

I was under the impression that when you sell something you receive money..

Anyone attending?

The ruvuma disposal is imminent.

A presentation this evening.

The board have resigned.

Not really a rise just a smaller spread.

Anything upwards here is welcome.

X 5 on signing.
X 20 on production
Imo.

Hi there.

Investments I recall are
Manas coal.
Limestone business
and NXT Tec.

I emailed the ceo a couple of times.

Natasha was her name , had a couple of replies.

The website has had the same various projects on the go for a few years so I am very concerned that although it looks good on the website not much had actually happened.

The company was all ready to ipo and then covid came along in spring 2020.

Our stake would have been worth about $2 million aus dollars.
I don't recall a Singapore investment.

Still waiting on liquidator to distribute funds.
This cannot happen until nxt tec do an ipo and then our 900,000 shares Leed hold can be sold and the proceeds returned to shareholders.

I may e mail the ceo and ask if there are any plans to ipo although I would probably not get a reply.
Let's hope for some news and some money.

If the Ruvuma deal doesn't happen which could happen.

What then?

Your broker still owns your shares albeit in a nominee account. The asset match was brought in by the company to enable shareholders to sell to anybody else who wanted them at an agreed price, however,not a single shareholder used it so it was discontinued.

Regarding compensation. The only monies we will eventually receive is if NXT Tec comes to the market and then they can be traded and monetised.

You could contact the liquidator.

Just look at leed resources on companies house website and the address and contact details should be there.

I must admit imo the directors gave up too easily but what's done is done.

Have a nice day.

Still ongoing as far as I know.
Once completed our only asset will be the 900k nxt tec shares we hold.

Until it goes ipo we will just hold them until they can be monetised and the proceeds distributed to shareholders. Proceeds divided by about 3 billion shares. Works out at about £30 for every million shares held for every £100,000 raised.

The registrar or your broker would know that you have the shares whether in your name or nominee name.
So really just a waiting game here.

I hold 20 million that cost £10k so hoping for some return in the future.

High net worths.

They won't be in a few years.

No rns for the meeting. Maybe just a proactive meeting.
Should be interesting.
Bet he mentions the change of strategy and the new name which is now of course defunct.

I couldn’t think they could whip up support for a p*** up in a brewery at the moment.

Can only be the AD plant expansion. What a joke.

Of course this is reliant on the cash from Ruvuma if it ever gets received.

As I have said before if this gas field is so lucrative why was it sold for $16 million spread over many years and why hasn’t the deal been closed. It’s not as if the buyer is hard up or needs to carry out due diligence etc.

Maybe if the deal closes the fees payable plus CGT if any will be more than the initial amount received. So maybe the board cannot actually afford it to close at the moment.

Prolific still owed a few hundred thousand at least.

A right old mess if ever you saw one.

Let’s hope there is a way out of it.

Should be interesting.

An hours silence.

I must admit I am starting to have my doubts about the Ethiopian project.

Formal update wording in RNS doesn't sound as if anything is going to be finalised quickly.

Let's hope it is or just ditch it and concentrate of SA which is fully funded already.

A quick look at the presentation on the company Web site says it all really. Not sure if shareholders were aware of the time frame to receive the $16 million if we receive it at all.

If so I'm sure a no vote to selling ruvuma would have been the outcome.

That is the odd bit about the rns.
Seems already to go and then they mention the most crucial part subject to funding.
To be honest they could find it very difficult to get funding for more than the current mc.
If they di they would probably pay 10% plus interest on it.
Will our share of profit even cover that?
They ae of course basing income and profits on current electricity generation prices.
What goes up eventually goes down again so they could end up with an asset that they have paid top price for that doesn't even generate enough income to make a profit.

Useless rns as usual.

Of course they are waiting on the ruvuma monies if they ever get received.

I'm sure you can count the number of potential investors turning up today on one hand and that includes the board.

If they thought the company was going anywhere they would invest themselves at the current price with their own money. No chance.

Offer for WEN today.

Would be interesting if a good offer were made here. Not sure if would be possible as Ruvuma all but sold.

Brilliant excuse from the board.
Held up by Christmas.
Today is only the 6th.

Will this deal ever close.

If not done by 30th June 2023 deal lapses we have no money and would be liable for cash calls.

Seems the AD plant expansion is on the back burner. Half an AD plant in over two years.

Can't believe how busy the board must be.

Once the nxt shares are monetised the amount received will be divided by the number of leed shares about 3.1 billion I think and we will receive a proportion of the amount received in relation to our shareholding.
Hope that explains it better.

I see the post about us producing 0.25% of the total power required by 2030 has been deleted.
Some people don't like reading the facts.