Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Ericnat17
Not really. I agree the ‘industrial customers’ bit is unrealistic, as is transport fuel. But for power, mobile 45 MW CCGT plants come on road trailers ‘ready to run’ with no Capex other than a few cubic yards of concrete to provide somewhere to put them with LNG storage tanks. The Tendrara area already has its own power plant and there are two others within 30km all using diesel for peak shaving when the 60 KV transmission system nears overload. It’s very similar to UK ‘STOR’ system which balances the National Grid using local gas turbines. Such an arrangement would generate revenue until a full field development comes along.
Paradoxically, Parsnips is planning a 5 MW STOR plant in Lancashire via Regency Mines.
Hi exploration,
So you are basically agreeing with me it
The LNG looks likely to be a “no go” based on the need fact they may need to build a gas fired mini power station. Even If they sell to existing power infrastructure there needs to be extensive work undertaken to offload the LNG.
It almost looks like the best option would be to road transport the gas to the GME line and and build the infrastructure there.
We just need to bite the bullet take FID to build the pipeline and go for the BOOT model.
There is a lack of infrastructure to transport electrical energy. LPG, is widely used for bottled gas in the region.
If they sell the gas cheap enough to compensate road transport Sou, will find a market. As to quantity of gas sold given the road infrastructure I experienced when visited the site and the weather, those sand storms make for an interesting drive. Then add the rainy season. Won’t be 24/7 operation.
Does all point to the company running out of cash.
Ericnat
Producing LNG is only a small part of the challenge. Finding the market is the other.
LNG for transport fuel is expanding rapidly around the world and virtually every country has evaluated it. LNG competes against diesel but it’s energy density is much lower and requires larger fuel tanks which can handle cryogenic fuels. In Morocco, truck and bus transport dominates, but there is no supply network nor LNG fleet.
See link below from Canada.
https://www.aga.org/sites/default/files/legacy-assets/our-issues/natural-gas-vehicles/Documents/TIAX%20LNG%20Full%20Report.pdf
In USA BP has teamed up with Clean Energy, but it’s taken nearly 20 years to develop the business. See link below.
https://www.cleanenergyfuels.com/press-room/clean-energy-bp-expand-renewable-natural-gas-supply-agreement-growing-number-fleets-asking-clean-fuel
In Morocco the best option would be to team up with ONEE and install a distributed power network using their grid to supply the immediate area. 1 mmscfd of gas is sufficient to generate 5 MW/d. At $0.21 cents/KWh (the power price for domestic consumers) a 10 mmscfd gas field delivering 50 MW via leased gas engines from, say, Aggreko and leased micro LNG will make money for the gas producer, ONEE and equipment suppliers.
Oh yes, both Blue Origin and SpaceX use super-cooled LNG for their rocket fuel - but I doubt there is much of a market for that in Morocco!
The Sound board knew this would likely happen, that's why there was a placing to raise funds. "On the back of the General election". Our new CEO then wants to talk about rebuilding trust. You couldn't make it up.
I think they could agree the deal Eric it was just that Sou were not convinced they had sufficient guarantee for the funds..there would be no point in having the upfront fee only to come up short for the infrastructure costs
to buy the LNG. I have been looking at the costs associated with cleaning, producing, storing, transporting and offloading LNG. And considering the distance involved to potential buyers it looks like they need to be selling at above the rate we are planning to get in the GSA.
Why didn’t we get an update of the EIA meeting.
The finance due diligence was not completed and also the sale a purchase agreement. So even if the due diligence had been completed the deal would still be dead as they could not agree the deal. Read the RNS again that’s what it says.
Let’s get one of the other offers that we’re made back on the table ASAP.