Try "Notice of receipt" fro Blade Petrloem that the Legavi finance does not does not satisfy the funding condition. So on 26 June Raisama will loose 50% of their 50% interest. Actually they don't loose it, Blade must buyback that 50% interest at fair market value.
As i previously mentioned (last Friday's post) at 25% interest will more than exceed the current market cap of the whole of Raisama, so it's not such a problem.
The problem will be proving what fair market value of 55% of Cadloe project is.
The best way is to have an actual offer to purchase. The other way is via NPV calculation. Greater emphasis is placed on a written unconditional offer from a fully financed company with skills in oil production.
RAI Price at posting:
6.8¢ Sentiment: None Disclosure: Held
