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Old, they are trying to secure an additional $5m with the pension fund.
If they knew the flow rates why not let people know, if they are good then they would have received a better OO outcome, if they aren't as good then the Doc is taking a gamble too, is he a gambler, I wouldn't think so.
Project Info is still not transparent enough just yet IMO.
A very fair post Winni and one I agree with. I'm not sure about Brad's No 5 comment, I certainly don't feel ashamed for not taking part in the OO.
I would have sold at 2.05p and took up my entitlement if the opportunity arose but it didn't and I wasn't in the position to add with new money and I wouldn't have done if I were. It's about time the LTH little people got a return if only a small one.
Anyway let's see what the BOD can do with this, IMO we LTH's are the ones who need rewarding for our patience and support for all these years. I was hoping for monthly reports with pictures against the TL Scope so we could monitor the Project, so BOD, please provide more transparency, more promotion and more progress.
Yeah agree with most of that Winni
The only positive for me is that TG committed to another 9m of shares in the offer.
CC was the only one that took his full entitlement, however GG and McIver committed to ZERO which is p*ss poor IMO.
Tbh I'm not sure what GG and McIver actually bring to the party, GG only holds circa 386 thousand shares FFS, even I'm way ahead of him.
Yes very poor Winni.
Circa 62% take up of which the Doc has contributed 75%
The BPOPF negotiations are more important than ever and based on this result they will be able to get a favourable price should they wish to take more.
I must admit I've been disappointed at the lack of promoting the Project, especially with it being so close to revenue. I would have thought they would have been "shouting from the rooftops" to get fresh investors aboard but it hasn't been the case.
Saying all this I didn't partake in the offer for personal reasons and didn't really get the chance to sell my entitlement to take the offer up so I can't complain really.
Some Key points I picked up from the Zeus Capital Audio Note on TLOU's Twitter page.
From the £5.9M raise the Doc is underwriting £2.8M so there is £3.1M needed for the full amount
TL Scope 64% as of 7th of June – Was hoping this was a touch further but should hopefully be complete in the coming months
Zeus Capital Risked NAV is 8.3p SP currently at circa 2p
1st revenue expected this time next year
Https://www.telegraph.co.uk/global-health/terror-and-security/south-africa-power-cuts-blackouts/
I wonder when we are going to hear about gas flow rates, obviously this is probably the the most important part of the Project.
I'm hoping they are very strong, that would mean we only a few well pods to get us to 10mw. The stronger the flow the less amount of wells are obviously required so it's now all about flow rates now.
Good interview, Darryn McClelland comes across well, he doesn't sit mumbling like his predecessor did.
I just hope he can pull this off, pity he wasn't around a few years ago.
It's all about securing debt then a partnership.
Morning Winni, I think the 2mw has been superceded with the Docs support. Obviously we need to get to 2mw before hitting 10mw but the plan now I feel is straight to 10mw and expansion to 25mw asap from there.
An excerpt from the quarterly report quotes this
"Work has advanced on a purpose-built operations facility for the initial 10MW development and to allow for project expansion thereafter"