somaliland exit

So basically JKA just gave up its remaining 15% of Somaliland, losing all the benefits of the original farmout to Genel, and for that 15%, the only thing it gets is the money from Sterling now, instead of later down the track.

What a dud deal. And yet they have the nerve to title the announcement "Jacka to receive $12M from farmout." Jacka isn't receiving $12M from the farmout, they are giving it away for free.

This company has well and truly shot its bolt now IMO. What attracted me, and many others, to this company was its spread of assets, chasing the big-ticket items while having a small interest in near-term developments.

It's no longer the same company. I'm not seeing many reasons to keep holding, and I threw my SPP documents in the bin.