George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Did it also mention a, Heineken factory investment...
Guess we will need something to drink...
Was their catchphrase not, "brewed for longer", ?
GLA
HFB
I hope you are actually at this conference
Fingers crossed
GLA
Ouz
Great article HFB,
particularly liked the line about making a moderate investment in coffee production would net 5x amount of local employment than the Tasi Maine project.
The article summarises the position clearly.
GLA
being honest , no idea
you would have thought common sense would prevail, bird in the hand , let Woodside
FLNG or Darwin back fill and sit back and coin in the Billions it will generate for the
Island in revenues and taxes , TL 70/30 OZ tax even if not on the Island , original deal
under maritime agreement 50/50, so OZ have been more than generous
The reservoir cross the border fairly evenly , so OZ could have just Issued a new license on
their side of the boundary and drained it all from their side, generous again OZ agreed
not to do so and split 50/50
So the road blocks have been the Island and the old guards mistrust of all things foreign
after fighting for Independence from Portugal in the 70's and gaining it in 1975 only for
Indonesia to invade a few days after its declaration
So some deep seated views to change , in particular the ex presidents law decree what
is ours is ours and will be processed on the Island, we can look after OURSELVES, we
can do it without interference of outsiders
All we can do is as we have been , sit and wait for a decision , any decision even if its to
ACTUALLY build the facilities at long last after 20 years talking about it, anything that
un strands the new gas fields (sunrise disc 1974 , Chuditch 1998 new lol)
Does not matter either way build it , take it elsewhere , just something that makes future
monetisation of the asset a reality , making Sunrise and Chuditch worth 10's of Billions
and no longer worthless
Fingers crossed lol
:))
Hfb …. What do you think their decision will be in the meeting … green light or not ????? In your honest opinion of course lol
As they say in the article , all looking to beyond oil and gas BUT need the funds it
creates for as long as possible to develop all the other sectors and projects on
the Island , mass Education , Welfare/Hospitals , Agriculture, Tourism etc etc
all in planning over the coming years
So how do they fund it all ?
The Sovereign Petroleum Wealth Fund including the re dev of small reserves at Bayu and Buffalo
factored in have been projected at keeping them afloat until 2028-2030
The next few budgets expected to come in at 2.2 - 2.85 Billion the wealth fund currently stands at
17 Billion US $
Beaco Tasi Mane on Island project estimated a few years ago at $16 - $20 Billion to build everything
(The entire wealth fund)
So a decision has to come soon ,Sunrise 1.6 billlion boe , Chuditch shell in 90's its as big as sunrise?
and the 11 new expected gas charged offshore license ALL still need a home to go to for processing !
all of which could produce incredible revenues (T/GAP % all licenses Gov) and taxes on top to TL Gov
Funding that could last them for decades
Although the regional players all declined to pay for and run the project, TL do have Chinese Belt and
Road initiative (BRI) membership, so still also the possibility they could come to the financial rescue
and we all know they always have a spare $20 Billion in petty cash for large projects lol
They being all state controlled companies , also build them on/ahead of time once they move the
mega workforce in lol
So fingers crossed , they have got a backer to build , or the new Gov give a green light to all other
options FLNG , existing pipeline backfills, new tie in's to existing lines (Indo/OZ)
Cant see how they can do both Island development (non oil and gas) without one or the other
in place to fund all they have planned over the next 5 years, without new large projects being
developed and coming online during that same time scale
:))
Laohamutuk the local Independent reporting on 1st day of this weeks TLDPM conference
telling it as it is as they usually do
(the name means ""We Walk Together"" and similar versions in the local lingo)
http://www.laohamutuk.org/econ/21TLDPM/210727LHtoTLDPMen.pdf