Good on ya, thats an example of having the courage to make a...

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mwatts

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11/06/24

16:01

Post #: 74262372
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Originally posted by WatfordLad: ↑

I texted Scott today and he called me back an hour ago.
He was as always very forthcoming and as transparent as legally possible.

I wrote in longhand and please do not shoot the messenger. Some of what I wrote i did not completely understand but did not want to constantly interrupt Scvott.

After initial pleasantries, Scott advised that despite little news being release they have decided only to announce news when it is concrete.
There is a LOT going on in the background, but he acknowledged that they had to re-assess initial plans due to having to raise at a much lower price than anticipated post discovery.
Bad line at this time but I thought he said they were going to accelerate 'piping'(?) ie get away from CR's for good.

The PPSA is moving very well now that MTAPA investment Fund is on it. The Reserve Bank Governor was elected CEO as announced by coy, Started in May and the company met with him days after his appointment along with our lawyers & our team - it is progressing very well and he is happy with the progress being achieved now. "On track to get it delivered shortly"
Having Mngwana onboard is great and there has been a lot of interest post discovery from inteersted parties re investment opportunities.
He then alluded to tghis comment - "We brought them in in April, that will give you some clues to what we are working on and how we will realise the potential."Long term potential of potential new investors is that they will not be trading on the ASX so will increase stability. Can only be done after rights issue completed.

Technical side - working hard - focussed on understanding all that Mukuyu and the entire basin has to offer us. Want to now know what is in the rest of our portfolio.

He once again stated that - "The Eastern Margin looks very encouraging indeed and we are excited by what we see. It will be part of the decision as to what we drill first."Flow Test - resitting new contracts. Lot of equipment needs to be mobilised. Getting re-priced and getting better deals now we have discoveries.
Combined with improved well designs and more knowledge now Scott anticipates each drill will be subsequently 40% cheaper than prior.

He acknowledged that PPSA and Flow Test are vital for investor confidence in the project moving forward.

Lot of progress in PPSA proceedings since May.

"We have a capable good quality rig that can achieve what we need." - After I pressed him on possibility of dual rigs - he laughed at that but did not entirely discount it in the future.

I asked about timelines and my perception that there was a Mexican standoff happening - Scott replied by saying that 'This year is paramount."

He then stated for concerned investors-
"Look beyond the fog and the white noise of forums and I am very confident and comfortable, as I can see what is coming very soon."

Re Lower Angwa - 'We still need to prove it but it is but one of many targets.We have multiple zones and it is about how we best evaluate and explore them cost wise."

He ended on this -

"All will become clear in the next few weeks when it all lands. We have always delivered on what we set out to do."Then this - "You will see very shortly a joint alignment and it will become very apparent that everything will be delivered."We finished on a few more pleasantries. As always he was courteous and a delight to talk to. The conversation lasted over 30 mins.

Some of what I have written does not make a lot of sense but I am a crap secretary and typist.

Please make what you will, of what I have written above - please DYOR.

Personally I feel much better for talking to Scott today.

Cheers folks.

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Good on ya, thats an example of having the courage to make a call that I think others should learn from.

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