No, however the Company in its recent December 2020 Quarterly Activities Report lodged with the ASX on 29 January 2021, confirmed that the Petroleum Exploration Development and Production Agreement (PEDPA) review had been completed by the Inter-Ministerial Committee of the Government of Zimbabwe and has been approved. The PEDPA provides the framework for progression of the Cabora Bassa Project through the exploration, appraisal, development and production phases and the obligations and rights of each party over the project lifecycle. The Company is awaiting execution of the agreement.
On Friday 12 March 2021, the Company became aware of an article published in the Zimbabwe Independent newspaper that stated that the Government of Zimbabwe and Invictus had concluded a production and profit sharing agreement with Invictus which is now being scrutinized by a private consulting firm. Further the article quotes The Mines & Mining Development Minister of Zimbabwe, Mr Winston Chitando, “Yes, the agreement is being finalised and it will be signed before the end of the month.”
IVZ got a speeding ticket from the ASX on Monday last week and claimed they knew nothing other than a story in a Zimbabwe newspaper.
Then today they go into a trading halt for a capital raising.
Yeah just had a read of that myself.
Disappointing for any late buyers that might get stung a bit but I guess that is a by-product of chasing fast rising prices.
On the flip side, the Company has been doing well, so if they need extra capital, they can now raising it at a decent level (hopefully)
A Raise at 10 cents or above would seem bearable given the recent VWAP
If they discount it to less than 9.4 cents, it could feel like a slap in the face to many. (DNH)
Another capital raise @23 CENTS and a big thud on share price to 20.5 cents and would see it further down to 18 cents tomorrow .$8 million capital raise completed via the issue of 72,727,273 shares at 11c per share. A good price all things considered. The share price has surged again today and is currently up 12.5% to 13.5c. Not a lot of sellers about by the look of things. This could help drive the price higher in the short term.
Again and again..i have to be careful with systems and shares like thatAnother capital raise @23 CENTS and a big thud on share price to 20.5 cents and would see it further down to 18 cents tomorrow .
ASIC is just a dumb watcher to do any thing on artificially jacked prices before dodgy CR letting lot many investors to fall into a trap.
Plenty of chatter on HCPretty quite on IVZ. Anyone else fully loaded for the run up til Christmas on this puppy. Disclosure bought a heap at 27c last week fingers crossed we get Hydrocarbons flowing to surface
I sold out mate for a small profit. Didn’t have the kahunas to holdPlenty of chatter on HC
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