Member Info for steve58

Over £3 million received.
AD investment about £1.5 million.
£1.5 million ?.

Mustn’t forget the couple of million from prolific or the £2.5 million from HH.
The £350,000 from Iow.

I think most shareholders know where the millions have gone.

Just a shame they didn’t save it for Ruvuma as we all assumed they were doing.

If the sp rises on this how much will it go up on financing.
Imo should double at least.

The drilling licence for Ruvuma expires on 15th August 2023.
I assume it will get renewed quickly.
Was it two years last time?
Wouldn't want drilling to stop for any length of time as this would mean an even longer wait for our money.

Hope so.
Although I think it is our boards hope that it is all done by the end of the year if not earlier.
I think that once the initial monies are received if there is enough left a much larger AD plant deal will be announced.
Of course about £250k paid to part settle the prolific loan has to be knocked off.
Half an AD plant in two years takes some beating.
What do four directors do all day.

Hit the nail on the head there.
The longer the drill takes to happen the more cash we have to find.
I’m surprised they haven’t told them to stuff the sale.
Haven’t trusted them from the start and still looks very dubious if that is the word to be used.
They have billions of pounds so why offer us a paltry $16 million spread over many years.
If it were so good a prospect why didnt they at least offer us the same terms as Aminex got.
My reasoning is they did maybe even more but the board problem refused it as no cash in the bank was forthcoming just a free carry until production.
We will of course never know if the board had any other offers maybe even better than the awful one we are now stuck with.

I assume that if the drill is put back so is our $3 million cash.

Not sure but doesn’t the drilling licence expire in April 2023.

If it falls through we will have our 25% share which we could not afford to develop.
So probably right.

If drilling for gas that should be the first priority.

Almost like a dairy farmer without any cows.

I sometimes wonder if it has worked out for the best. Seems the operator isn't operating to time lines big time just one delay after another.

Hope this doesn't mean a three month delay to our money. Long stop date 30.06.2023.

Interesting if it doesn't happen.

Seems that as of 1st October they are at the late stage of venture capital funding.
This normally happens in readiness for the sale of a business or an ipo.
A million pounds for our 900,000 or so shares would equate to about £300 for every million shares held.
Anything possible here imo.

Sorry didn't see your earlier post explaining things.

For tax purposes it is still income whether you draw it out or leave it in your account.
Of course anyone who receives more than the £2000 allowed in a tax year will have to pay dividend tax on the excess.

Can get confusing for some people.
At least when the dividend is 1p a share it should make it easier to work out.

We get 80p for every 100 shares we hold on ex div date.

100 shares 80p
1000 shares £8.00
10000 shares £80.00
100000 shares £800.00

Hopefully covers moat of the holders on here.
Imo this is affordable on a quarterly basis.
If so just multiply above by 4.
Would of course be a 10% yield at current sp.

A very good RNS.
A small but very well thought out dividend with more to come.
Regarding the share buybacks just as I said a few days ago.
They will buy as and when the price is favourable they can vary the amounts and amount of time in between buys.

I would like to think the sp will rerate accordingly.
5p plus rise would be most welcome.

If good news is expected in the near future the company could make millions additional profit.

It will be interesting to see how it plays out.
Share buybacks are easier and cheaper to do and would probably be more positive to the sp.
They can also be done as and when they can afford it and in varying amounts as cash flow permits.

With income of £8 million a year plus should be at least double imo.

With the $3 million in the bank hopefully the sp will rerate.
Our current mc just about covers the cash in the bank and helium one shares still held.
Mustn't forget the other £250k hopefully coming our way soon.

Maybe a tempting dividend will be announced soon.
The company could probably afford 5p a share.
The sp would definitely rerate as a 20% yield would be far to high.

Agreed.
Why sack someone for doing this what you told them to do.

If it were like that their would be millions out of work.

Imo we will have a new PM before the year ist out.
At least Boris had a bit of voomf and a personality.