RE: AGM6 Aug 2018 22:24
Indeed, there wasn't much the new mgmt wanted to give away today. Why would they, though our new Chairman did indicate he wants to accomplish a lot in his first 100 days.
As mentioned already, the BoD were at pains to emphasise that they will be laser focused on turning this into a hard edged commercially driven company; SOLO is now at a different stage and requires different expertise and industry contacts. They also intend to be a much louder voice with their JV partners, but that sort of bluster is easy to say. This point will be important though as they try to decide next steps on Ruvuma. It's clear they've been kept in the dark re AEX's plans, or even what invesmtent assumptions were made for the farmout.
The BoD was adamant that there was more than *one* potential buyer for our Ruvuma assets and thought the Aminex deal opens up a lot of new interest. I still take that with a grain of salt, but their reaction to the question seemed sincere.
So far no love from the sp, as there's no trust or goodwill (understandably) left in this share. However, in recent weeks, some pretty big items on our operational wishlist have been ticked. Namely, Ruvuma acceleration, positive initial results from Portland, Board turnover focused on driving commercialisation. All good things, and no doubt this will (eventually) get reflected here.
In summary, my key takeaway today is that new mgmt want to make money. That is their key focus, and can make a lot of it with the assets we have. They gentlly alluded that we'll see their 'hard headed' approach in action within the next few months. Will be interesting to watch!
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