Are we raising sufficient funds - Hear me out please
Ok we know what the spend has been for the Dec 23 qtr and Mar 24 qtr
Dec 23 - $1,462,000
Mar 24 - $1,469,000
Cash in the bank as of 31st March was $1,325,000 which should see us through to 30 June qtr
Capital raise of $1,402,000 will see company through to end of Sept qtr
ICSID final hearing is set for 26th July 2024.
Can somebody confirm that the final decision will be made on this date ie, Tanzanian Government is to pay the $122Mil USD plus Interest and are to make payment in full within 45 days or will they (ICSID committee) retire to review and present the final outcome at a later date, ie, 7 day, 30 days etc
If final decision is made on the 26th July then the Tanzanian Government have 45 days to make payment in full.
July - 5 days
Aug - 31 days
Sept - 9 days
Total - 45 days
So are we putting all our eggs in one basket and are 100% confident that the Tanzanian Government will pay on the 9th of September.
What if they decide to not pay - OK we can seize assets like a plane - how long will that take to convert to cash, or they could delay payment in full by months etc which would then mean another capital raising
So I ask - Do we have a Plan A or a Plan B or even a Plan C
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