George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Very good support from the private investors, especially considering the current low share price.
All looking good for the placing to be successfully concluded tonight.
Then the drilling of Saffron 2 will commence.
I'm impressed that the figure is as high. My expectations were far, far lower. Looks very promsing for tomorrow's news.
The Placing is conditional upon the admission of the Placing Shares to trading on AIM becoming effective and the Placing Agreement between the Company and Shore Capital not having been terminated.
Not too shabby. £2.625m raised from the Open Offer. Rest being placed out tonight with discretion to increase the size of the placing if there is excess demand.
Announcement of the result of the Open Offer and the launch of the Placing 4:35 p.m. on 19 May 2021
The only need to raise sufficent to cover the Saffrom drill which is covered by the already announced fundraising and OO take up. I expect another raise will be done at a leter date when 'markets improve'.
It's been two weeks since the rig and equipment had been mobilised and making an its way to the Saffron 2 field, I'll be assembled by no I expect and ready to spud on Sunday, it's happening and it'll be a game changer for the company and us shareholders.
Next week will be very interesting.
:)))))))
Lol, just me getting confused was another share issue that I am in for
It wouldn't be standard stuff for Primary Bid to be taking and returning money for transactions they have NO INVOLVEMENT in.
That is very true Bohemia but Primary Bid do who I paid the money to. Standard stuff from them mate
Cool story, bro.
Except that BPC don’t have your bank details.
Druid - the driller offered it to Koot - he chose not to accept it. When BPC took over they decided to keep 100% ownership as presumably they thought that would be better for BPC shareholders.
Most people are clueless about the prospects for Saffron - the existence of the offer suggests potential is good - but don’t take my steer as I’m only an amateur!
Just checked my bank and had a refund of money that I paid under the offer. Looks like the OO is a success :-)
Doing some quick adding up I've been given all under the offer rights and about 70% of the additional shares I applied for.
Looks like drilling will happen at the weekend and there will be no placing. Finf out for sure in a couple of hours.
In4...I agree!!
When an operator is prepared to share his discovery with a DRILLER, it does say a LOT!
But only an amateur would construe this as good news though.... (and BTW, it never materialized either, no surprise there).
Druid
Linton - yes they were - 500 barrels of fluid per day of which around 5% was oil. They have sold transported oil from it to Heritage. I’ve no idea if any is still flowing but even if it’s nil it doesn’t alter the case for Saffron 2 which is targeting a deeper trap of oil where the pressure was so great they had to abandon prematurely because they couldn’t overcome that issue at the time.Subsequently drillers of Saffron 1 offered to drill Saffron 2 FOR FREE, subject to a SHARE in PRODUCTION - that suggests a deep level of confidence as the drill would cost circa $ 2 million but everyone has to make their own mind up on the quality of the assets!
https://ukinvestormagazine.lpages.co/may-uk-investor-magazine-virtual-conference
Something that I find really sneaky, don't know if that is the best way to describe it but.
The result of the OO won't be announced until 5mins after close of trading and the result of the Placing won't be announced until tomorrow at 7am.
So anybody in at 4:30 tonight is in and come what may good or bad.
How many will be tuned in tonight at 4:35pm, tomorrow at 7am at not looking at 8am.
Good luck hope its good.
micktrick - plenty of trolling avenues to explore but I really can’t see why you’d raise the Inniss - Trinity field - it’s a CERP asset which may be attractive enough to Predator to make another lump sum bid in the future.
Koot had no published plans to develop that field with CO2 EOR and Predator were much more pro-active, cornering the market for CO2 supplies in Trinidad and importantly being in the forefront of the infrastructure planning and development. They offered and agreed the deal with FRAM before Koot took it over so Koot was contractually bound to honour it - although he did, eventually, lovingly embrace it .
The project with PRD seems to be progressing well in line with expectations. If your point is that on Goudron production has slipped that appears to be the case from viewing MEEI Trinidad figures.
I don’t believe that BPC or Koot were very excited about Goudron - most hopes are on Saffron 2 and subsequent development of SWP - for the avoidance of doubt Saffron 2 is not a guaranteed winner but the potential is very much worth pursuing.
The flow rates were never released from Saffron 1 were they?
There's been a lot made about the value of the ex-CERP T&T assets.
Does anyone remember when the third party, understood to be Massy Gas Products, put a lowball bid in for Innis-Trinity? It was treated with disdain by the board and with derision by some on here. The rationale behind the bid, as well as production figures, are shown in this
Predator 2020 presentation:
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2020/07/30070921/Corporate-Presentation-29-July-2020_FINAL-DRAFT.pdf
The upshot of which is that without PRD's input production would be in the order of 50-100 bopd rather than 100-300bopd. And BPC would have otherwise had to cough up for a 7-well infill drilling obligation. The bid was made on that basis.
Again, because I'm yet to see a satisfactory response from any of the rampers, if the Saffron assets were any good, why did Koot jump ship, rather than develop them? In fact, if Saffron is so good, why didn't Koot direct the BOD there instead of them taking a massive risk with YOUR money on S1?
Can anyone see a pattern emerging?
Funny how reality and factual posts that are representative of the history here get removed. Those 2 really are a piece of work. These next two weeks are going to be really interesting, I hope it works out well for real holders.
Antha,
No paid Gang Ramp??!! Really?
So starchild and Willec are here full time as a community service? Interesting,... such benevolent caring from the high priests, all pro-bono no less!
Yeah Right!
And when rearly backed into a corner and lid about to pop off starchild comes along to his defence seen that a good few times , wonder why?
Ask him a question and he crumbles and either removes post comes back wait for drill results or just ignores and carries on ramping his one liners or if you rearly get under his skin he might swear and call you a name lmao