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In particular, my point was, that interview was done today. He didn't sound worried. Wouldn't be highlighting it as their crown jewel if he were.
the stars are Director's Talk
RBD Co-CEO Stephen Williams was asked in an interview today how their recent positive results mean in the context of their portfolio.
He responded "bumping up against the like of West Newton is not easy"
https://www.***************************/ceo-interview-why-could-reabold-resources-romania-project-be-very-significant/412791277
Time 2:54
In the Share Prophets podcast done recently, he again said this price was possible.
and just to leave nothing to chance, if Raithlin's next raise is highly valued then RBD's increased stake will be very immaterial.
We have no idea how significantly RBD has increased their stake. It all depends on the pricing of Raithlin's next raise (which is presumably very highly valued).
This is just RBD putting cash into the project , in a similar manner that we did when we raised funds.
Except they have to raise funds and then give it to Raithlin (Raithlin raising funds and RBD has the option to participate to maintain stake, which they did)
Yes, it's not consistent with David at all. I wonder if he has outsourced the Twitter to Steph or someone
If that's all it is, then money well spent. I somehow thought it was a lot more
How many pounds per word did we just spend?
Did he give you a wink-wink, nudge-nudge on his current assessment of the project?
Woodstock, the claim that UJO is being used as a shell company is totally nonsensical. I can only imagine you don't know the definition of this term.
It would not affect UJO's interest in the project, but if Rathlin as the operator ran out of money it would put a stall on proving out the value of this.
That being said, if they get this test done , as it seems in all likelihood they will, and it's as good as we hope they should have no problems raising funds.
Over on the RBD board, a few weeks back, they were claiming Rathlin could not raise money without RBD's permission. That seems strange to me but could be a concern in some worst case scenario.
The RNS today says:
1) Reabold holds a 24 per cent. economic interest in the licence via its 36 per cent. holding in Rathlin Energy (UK) Ltd ("Rathlin"), operator of the well.
2) * Connaught management estimate. Connaught has a 35 per cent. interest in Rathlin Energy (UK) Ltd ("Rathlin"), operator of the West Newton A-2 appraisal well. Connaught was previously the 100 per cent. equity holder in Rathlin, which was in turn the 100 per cent. holder of the PEDL183 licence.
Question: Who owns the rest of Raithlin? I had previously thought it was only Connaught and Reabold who held shares in Raithlin?
(which I guess means in the eyes of the BOD that he's done a good job!)
They issued more or less the same options last year. It's just part of their compensation.
The notable change is Graham Bull getting 80k instead of last year's 30k.
I would guess it would be on the planning application website beginning July 15th. Just a guess.
That being said, "condensate" is oil too, more or less. And would require a similar notice. I think we already knew this, it's nothing new just maybe hints that the EWT won't begin until after August 5th which is the last day for viewing the application.
Yes, they had to settle their old debt. Does it prohibit them from issue new debt?
I don't have time to watch the 20min video at the moment, so apologies if this is addressed.
But I find it strange that they would basically strangle the operating company that they own a minority stake in. (a) it's not in their interest as a shareholder; (b) why would Rathlin agree to such harsh terms? Hard to believe Reabold had such negotiating leverage given what was a relatively small amount of money.
Unless this was intended as a staged sale to Reabold from the beginning?
How does Connaught ensure a fair market value for a further sell down when there's apparently only one permitted buyer?
You may well be right, but this sounds strange to me.
Some call it a "debate". Some call it "maths"
The bigger the numbers the harder it is to get outside the box of normality, as you say. And 500M is a big number.
That being said, I'm bullish on UJO. But if we get to 4p I'll be very happily proven wrong.
Then they're borrow money from the parent.
This isn't exactly the Investing A Levels but , but: Market Cap = Share Price * Shares Outstanding