Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-429

In agreement with both of you and @Davy Boy on this one. While Davy is right in that we don’t need the PPSA (the PEDPA was the important agreement, which has been signed) and the current agreement, bound by international law, is heavily in our favour, you’re also right as this is now more about the optics. Invictus chose to include “PPSA signed” as one of the key milestones in their presentations and have therefore planted this in the mind of the average investor as being an important thing to tick off.

Due to how slowly the wheels of government turn this has been perceived as “stalling” and “sovereign risk”…it’s not, it’s in the government’s best interest and they will sign it, if you’ve ever spent time in a less developed country you’ll understand how much those in positions of power absolutely thrive on bureaucracy and red tape….anything significant also has to have a bizarrely complicated ceremony attached too.

I’m personally very comfortable with where this sits and that it will get done, most likely soon given the recent discoveries, but I also understand the perceived negativity/frustration. The company could certainly learn to get better at when to keep quiet and when to shout things from the rooftops with a bit of flare (pun intended).