Member Info for Thornback

He's been with them for some time now updo.
Is TM still the main man..?
If so it may be why things are so sluggish here.
nThen wgain......

Thanks fbrj what a refreshing post, very detailed and factual.
I particularly like the lack of Hibiscus info line and also agree that there isn't a great deal going on under UOG's control.
I'm going to go a little further though fear I will be ostrecized. We are doing that well in Egypt of that there is no doubt but we are piggy backing on KE's success. I fully accept it was a great aquisition and very astute from the BOD and understand we are still a little, growing company so need to startsomewhere but let's not get ahead of ourselves.

OK, I'm ready for the onslaught.

I've assumed that because the company has stated that the funding will be in stages Brad.
Stage 1 is for $10M and stage 2 for the remainder of the $30M required.
Has there been other detail that I've missed Brad..?
Thanks

Some good points Frankie, the one thing I would say is the sp has been dragged back down for an age now which wasn't an effect of the warrants but it could well be the issue now.

Good post Frankie, thank you

Appreciate the response GH even though I'm still not convinced but maybe that's just the cinic in me.
I must admit I've not been as confident in many companies like this before.
The issue I have is I've been here from virtually the start and the growth isn't where I believe it should be. The sell patterns don't appear to be PI's IMO and are so predictable.
Hopefully I'm talking 8ollocks, the market will catch up and there will be no skeletons in the cupboard along the way.
I was also of the belief that the Egyptians took circa 42.5% yet read it was way higher in a recent post. The company is quick to quote operating costs of $5.77 but if this is coupled the very high costs from the Egyptians it doesn't have the same effect obviously.
I must admit I haven't got round to researching these figures yet, my bad.
Ttl1 if these were your thoughts that GH has stated then why not post that instead of just dismissing peoples views with digs, let's at least have a grown up debate please, it makes for a better BB...

Correct whizzer but the fundraise is of little use without a PPA.
The company states 2 parties haven't expressed a specific need for the 10MW PPA to be in place, maybe they will before the fountain pen comes out.
I've said it before, no PPA no finance IMO and as you have said it's $10m, we could raise that amount on a fundme page....

OK Ttl1 no need for name calling.
Here's a simple question that maybe someone could possibly answer or theorise about..!
The company's BOD is seriously experienced, the news and progress to date has been great, the upside going forward is potentially tremendous, that being Jamaica, most believe the SP is well below where it should be, the MC is ridiculously low.
So why then is the SP not higher.
As soon as we gain any traction we slide back down on a pattern of sells.
IMO it's certainly not wet knickered PI's but linked to the RKH aquisition.
Will we see a serious re-rate when the sells dry up.
is it due to the very high fees per barrel to the Egyptian Gov.
Is it normal market movement.
And before the abuse starts this isn't a deramp, thoughts anyone..?

Ttl1 do you have an opinion on the RKH aquisition and whether this has had an effect on SP or do you think it's just the market fluctuating..?

Go Brian...!

I disagree GH, not trying to pick a fight but the trading pattern since the RKH shares aquisition is something I and others have also noticed. Is it a cooincidence that all parties were below the 3% threshold..? possibly, but I believe BL just wanted RKH out of the fold at any cost and the sticky II's are anything but.
To bring it up isn't negative IMO but the pattern has certainly had a negative effect on the SP.so I'm happy Levi brought my attention to it.
For the record this was one of the 3 questions I asked the company and didn't recieve a satisfactory answer to. The other being; why was there a mixture of currencies against salary details in the AR.
I'm not arguing about the salary awards either.
Well done on buying on the dip and for the record I am well up here, however I like to keep an open mind on what's stated and the market hasn't received recent news on a positive way.
Wet knickered PI's, who knows..!

Morning GH, so in your opinion the SP tanked because of this BB and wet lettuce PI's invested here..?

I don't disagree with that OB but let's start pumping some gas first FFS...

No disrespect MM as I really value your input and opinion but we need to nail our plan A first and foremost IMO.
More optoins in parallel doesn't do it for me, diversification is sometjing to look at once established I fully agree.
The goal posts and narrative are forever chsnging and we cannot secure anything of value i.e. a PPA, Funding or even getting contractors mobilised for the TL Scope which is apparently in our control..!
I don't wish to sound negative but I can foresee the PPA taking longer agsin because they are tweeking it to include snippets of hydrogen spiel.
Let's learn to walk before we can run and grow from a solid foundation.
I must admit I do sdmire your loyalty and patience as mine is wearing thin. And I meam that in all sincereity.

I wholeheartedly agree Appi.
We all know the potential upside and have done for a long, long time but nothing materialises just more dressed up narrative.
Come on TG and team get a grip FFS....

Well Brad my theory of Orapa being the new Plan A appears to be well wide of the mark. I'd suggest that's a door closing.
I must admit I've been in this for 5 years now and the moving around on what we are trying to achieve as a primary goal appears to have been lost a tad with the talk of Orapa, Solar and hydrogen. It would be really good to het connected before persuing branch off projects.
It demonstrates that TLOU are absolutely dancing to the BG tune and we still have zero control at this point.
Very frustrated.

Some fair opiniins mrmoagi, I was always of the opinion that once we had 110 kv lines upgrade in place and were producing above 5MW that we can sell direct to the SAPP.
I know this could take a long time but still hope this is the case.
I do however expect the BG to want a %age of the profit that TLOU sell into the pool. I'm hoping that is the what will happen but we shall see.

I thought the same Levi, a simple statememt may have helped the situation and slowed the SP decline.
What a man, lol

I also had an email back today.
BL said, last week was the first opportunity to exercise the warrants and that he could potentially be in another close period for the next 12-18 months during which time the warrants will have expired.
He said no salaries had been paid from 2015 until late 2016 (the team worked for free) and that he simply doesn't have £140k to hand to pay for warrant exercise price.

 

Given the historic low salaries, (which you can see in our prior year annual reports) I simply don’t have £140k in hand to pay the warrant exercise price

I see your post prior to the liking the line off Dom one has a buy status mrmoagi.
I take it your post's detail gets your approval or was that just sausage fingers..?

Some interesting thoughts OB, thanks.
I absolutely agree on one point, that being the PPA needs to be rubber stamped before any Financing is concluded.

Here's my speculative punt on the current situation and it's only a gut feel. I think the TL Scope has taken a back seat and the Orapa option is now Plan A. Purely a hunch but I just feel that because the Orapa tender has moved to the right and the contract for the TL Scope hasn't been formalised/started then there has been a change of tack. I know everything takes an age in Africa but this Scope was placed within TLOU's control because of the fund raise so IMO the contractors should have been mobilised by now.

Would anyone like to guess where were currently are...?