Ann: Tlou Energy Quarterly Activities Report, page-6

All very good info YourDuddly, but is all well enough known. So many great posts about future intentions and strategy from Govt in Africa, including Botswana. Also BPC good at putting out good sounding stuff about solving the energy shortage incountry - the same shortage they have experienced for 10+ years.

What I would prefer to know is extent Botswana receives funding from Workd Bank and similar development lending agencies. And compare cost of that against size of economy/ balance of payments/ GDP and suchlike. Let’s actually try and get a proper view on the state of Botswana economy, it’s levers and risks to achieve future meaningful growth + see signs that the private sector really are investing substantially, or preparing to do same, in Botswana. Masisi has to be seen to be making smart moves and a difference between now and October 2019 all party elections. I think that limits him somewhat in the short term to be too bold - but let’s hope not.
Retender - 2.5 months and still nothing. Not great sign.
Change of Minister at Ministry + BERA presumably fixing policy and operating framework - necessary but slows us down.
Tlou Offtakes - I am sure they been talking to many parties but connection to the grid will be the problem to finally overcome. Lenders to such a project are not stupid, they will see the history of delays and so I really do believe Tlou will not try to deliver on any other Offtakes until they know their award from the RFP. Others are welcome to disagree - we all have our own opinions.
The VOX call touched on future fund raising - and the answer sounded like mumblefcuk to me. If they are going to grow, develop and expand then of course there will be dilution. TG said as much, along lines of we have only about 300+m shares in issue. They will of course want to get share price back up to level of last placement to African Alliance, or better. What is required to achieve that then ....