Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Coronovirus totally f*%ked this up. Who would have guessed this one :(
21:27 HM remember PMO hold a 60% working interest and have majority financed the drill, they may have an influence on how news is released.
I am not saying it will be a monthly report I used that as an example that ASX Companies are not obliged to release weekly reports as some have suggested.
What I am saying is there is little obligation for us to release operational reports unless there is a material hydrocarbon discovery or a "major event", so be prepared.
Nobody expects
https://m.youtube.com/watch?v=sAn7baRbhx4
BB32
To expect the unexpected shows thoroughly modern intellect
Oscar Wilde
"Nobody expects the.....unexpected"!
21.23
I take nothing for granted about reporting of news or releasing of RNS , always expect the unexpected .
20:52 My view is OSH are a giant compared to us. They have plenty of flowing oil and practice of getting it to flow, it’s therefore likely far less of deal for them and their shareholders, and business as usual.
Us on the other hand. Zero success to date, anticipation from the company and shareholders will be massive. I expect, as shareholder, to be fully updated as they progress through the drill far more frequently than once in a month.
21:06
ASX only specify a "material hydrocarbon discovery" nothing else! see rule 3.1 ASX.
So it is up to us how and when we report operations and we now have a major partner who may influence the way and manner we release news.
I take nothing for granted.
You can understand PMO , not want to making a fuss about the drill and hype it up , because if it doesn't work out as a planned they don,t have to explain themselves so much .
Exactly what I was saying Brom, assuming you mean oil discovery in each zone? And if that is material then non discovery is too? Or you don’t think so?
Sounds very feasible,not long till we find out for sure.
19:55 my view is that the only thing material is a hydrocarbon discovery or a major change to plan, look at OSH and the way they report during drills no weekly updates just a monthly report.
It’s interesting to consider the different mind sets, for us we want it shouted from the rooftops, PMO would rather no one else knew about it. Shhh it’s just $23m... no big deal... only 1b barrels
Brombarb : 19.45 also my view :
~~~ " This is PMO`s drill , and I wonder if it is they , who are managing both press release and more importantly tightly controlling enthusiasm because ; if Charlie is a huge success they will most likely wish to close their options on B and C , and , not at some wildly inflated price "~~~
Regards.
Miloh you need a bird to occupy you mate, on here all say and night talking tripe in a share you are not invested in lol what a tool
Obviously we are just about at spud and sp is very underwhelming, however we held up ok today when most shares have been battered
Remember the IW1 ‘weekly drilling update my good times.
I think spud and whether or not you hit oil in target zones would be considered material.
BB32 perhaps it time for a change of operational reporting and the reporting has to meet PMO's expectations as well, doubt they will be happy if there is a twitterati scandal again.
Why state "materiality and continuous disclosure obligations" if we are going to report every zone?
But just my view.
19:14 Where can I sign the petition?
Brom,
It would be a change if the last update is the only one produced, the three previous drills all showed more detail, perhaps less is more and might calm things down. ..,
Someone on Hot Copper suggested best thing I heard let's go into a trading halt here and Aus whilst drilling !
Talk about a binary outcome and massive scramble at the end, poised fingers, ready set go !
BB32
Do you not think page7 of the presentation is the " drilling timetable and testing program" after all it gives days to TD and days for flow testing, I do wonder if DW will not give to much detail this time (perhaps on advice of PMO).
I also note that reporting will be governed by "materiality and continuous disclosure obligations" - ASX rules 3& 5.
Not surprised that this site is not feeling well with all the rubbish it gets fed !
Be good to get update tonight with Timeline and depths.
BB32