Ann: Continuation of Suspension, page-58

@hoofa

IMO red flags were everywhere with the forward looking statements starting in December - Angola rising early 2024 production


How could one even state production early 2024 or even mid year when construction will take at leas 6 months and that's with no delays or unknowns etc

How could they be promoting such guidance and forward looking statements only 2 months ago when

- They were running out of money and $40m required for construction plus $10m running costs for 2024

- they had not received any approval from IDC for second instalment etc

and IDC term sheet 1 ??? Interest 6.77% above normal rate in arrears quarterly - all due before production

Even blind greedy could see that huge CR and or Dilution was coming after $25m was fast vanishing

Poorly managed cash and balance sheet - to expect loans and or investors to risk capital with so many unknowns and risks etc

So many current shareholders bought on those end of 2023 and early 2024 announcements imo

Now - one would expect to get this going - any deals would not be beneficial to retail holders and those with the money will be holding all the aces

IMO