Finance Date or Ann update?, page-252

Been thinking about everything, looking at communications to date etc.

I'm still arriving at the opinion things are actually looking better than they might appear.

The options on offer with TONOE is not even 2/3 of TONOD and expire in 12 months? I keep arriving at the opinion there are too many TONOD on offer for Jinan liking and TONOE was 'The way of rewarding shareholders' Peter mentioned in May that Jinan was agreeable to.

I believe Jinan will get a fair share of the options and the rest will be evenly distributed among holders, I doubt many will get equal to their current TONOD holdings let alone extras. The idea with the reduced amount will mean Jinan don't have to find a huge pile of cash when TONOE are in the money yet if every shareholder gets a small piece of TONOE everyone can share in the companies success, just my opinion.

The fact that the options are underwritten, lends to financing looking good. Lazarus would not be interested in the options if there wasn't something positive brewing because if financing does not arrive this year there is not going to be a pump to unload them, logically the only thing to out their options in the money will be financing now.

I think TONOD will expire and then we will see financing, until then the big fish may take advantage of a few weeks window to pressure loose hands.

Peter would not have a ground crew working already eating into cash reserves, nor would he have offered so few TONOE if things were precarious.

Despite global relations strained, I think Triton may not be as effected as some think and the TONOD options and Mozambique lock down restrictions are the bigger factors.

At the very least if politics was a problem for lending we would see a takeover offer, which we won't imo because everything points towards financing.

@merlin not detracting from a lack of effective communication, I think things may be a little less dire than we can lead ourselves to believe. The buying will be dry until the TONOD options expire if the big players believe/know they are the handbrake as the reduced TONOE again points to.

If I were Peter I'd acknowledge the unrest and let shareholders know accordingly that there will be regular updates even if there is little change, to nurse shareholders through these tough times due to previous missed targets and global unrest etc etc so it's not perceived as weakness by the markets but instead good stewardship.

Regardless, I'm expecting to see a few tough weeks followed by an exciting October.