Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I was originally in when it was CEB. I have been in and out 4 times and made money. I took some in the placing for Colter and am well down on that one. Since I have traded one holding and waiting to trade another one. The placing shares will have to sit until they update on Colter and those licences or they announce the hook up with CAV.
I think the CAV hook up will happen but maybe not till after Christmas. CAV wanted a partner that can deal with difficult assets who can successfully remediate them. What has happened so far will reinforce CAV's view on what is needed in a partner and that the partner is ADL.
Rereading the paperwork yesterday I suspect that ADL might want to drill the gas at Selo before deciding whether to convert to a participation right.
DYOR
Pretty sure the Lombardier CLN didn't have a floor, I.E. they learnt from their mistake. This obviously has huge risk but at leat they are using their skill and building, I always invested here for Indo exposure which is what thus is. If they impress here they maybe able to re visit dave failures, the foundations were there. Colter may yet surprise but that is a real dice roll. The workover is real tangible effort, not bad for a 1m mk cap. Dyor gla
Helpfull
Dont look to me like you have been long in this bag of S*** looking at your history
So I very much doubt you were in when the consolidation came
So nothing to do with timing on aim more luck i would say
So best of luck with your so called timing on this one
Don't discount an investment simply because it's done poorly it could improve. "Past performance is no guarantee of future results."
You should time your investments better.
Regardless of you inability to time investments, this is making progress. I had another read of the RNS from when the deal was announced. There is a good gas prospect at Selo. ADL might want to drill that before deciding whether to convert its costs to a participation right.
DYOR
Do not think there is reason to cause doubt !!!!!!!!
It as plain as the nose on your face 98% down I am 98% I say
Are you in deep Greg or what are you, strong buy / good luck all shareholders /whats all that about
Look back through Simons past, have a look what he does even when a CLN facility is there........
They have just over 9 months to use CLN facility £1.5M at 0.15 per share. Why would they need to place below? They will also receive their original £500K investment back through revenues, 90% of which over 70bopd , they are generating revenues now.
You're just trying to cause doubt.
Greg, where is the downside?? this company under Simon went from about 1.3 p down to 0.02 then they consolidated the shares to 1p now have taken it back down to todays 0.135, this will go back down and then consolidate again, rinse and repeat, its staring you in the face but due to being underwater you have the hope that kills you.
The private equity firm of whom haven't funded this project? remind me what a private equity companies roll is?
I agree with your analysis. These things always take longer than planned. I think that they are doing well. The prize here is not a certain number of barrels with a longer term relationship with the private equity group CAV.
65jh,
Could you explainplain the downside here from the SP of 0.135 ?
iNCREDIBLE how people ignore the bear case which is absolutely the obvious and only path here. I said yesterday be careful, I think my post was removed. An absolute money pitt but expect a certain bank robber ramp to try and extract his loot from here. Bulls = fools Bears = trolls. Happy troll!!
"we estimate that Andalas would hold a participating interest of approximately 18% in Betun-Selo upon exercise of the option. However, any increase to Andalas’ expenditure above the expected minimum of $0.65m increases the company’s ultimate PI substantially"
More infrastructure expenditure is needed, the participating interest will rise accordingly.
"· Following the workovers of both BTN 01 and BTN 14, produced water rates have increased significantly requiring both wells to be cut back to the current rates "
The BOPD & Revenues will increase with upgraded & extra infrastructure.
Good Luck All Shareholders
As below Greg, any amount owing to Andalas shall cease to be repayable, they will take this option and raise funds from shareholders against this as they have done time and time and time again, mark my words :)
Furthermore, PBS has granted Andalas an option to acquire a participating interest in the Betun-Selo KSO. This participating interest will provide Andalas with an interest only in any future incremental production from the Betun-Selo KSO (excluding the existing production from Betun-Selo). The amount of the interest will be determined in accordance with the following formula:
PI = WP/(WP+V) x 100%
Where:
PI is the Participating Interest to be transferred;
WP is the total expenditure incurred by Andalas in undertaking the work programme in accordance with Services Agreement; and
V is USD 3,600,000 (three million six hundred thousand United States Dollars) plus the cumulative cash contributions made by CAV to PBS from the effective date until the date of the exercise of the Option minus the cumulative cash distributions made by PBS to CAV from the Effective Date until the date of the exercise of the Option.
The option may be exercised by Andalas at any time up to 6 months after completion of the 4 well workovers included in the Services. On exercise of the option, any amount owing to Andalas shall cease to be repayable. Andalas will be granted security by CAV in respect of sums advanced in respect of the Services Agreement.
Again I refer you to the Lombardier `CLN where they had the facility to drawdown but time and time again choose to place.
Your theory doesn't stack up, the Revenues pays back their £500K investment & they already have a CLN facility to draw funds from.
You post a load of rubbish because you're a Troll
As I said see where the sp is. in 1 week, 1 month etc , rinse and repeat. There will be no revenue, ADL will convert into asset and raise money against it milking investors for their own pockets again.
Share price drops and cue the resident Troll, shares SP usually drops if there's a delay, nothing new there, they are upgrading the infrastructure and awaiting further permits.
Meanwhile they are generating small revenues.
Good Luck All Shareholders
Missed the RNS yesterday, this will start to get hammered now. Sorry. guys.
Slate me all you want but. see where the sp. is in 1 week and 1 month.
I have been warning you all along
Yes, it was mentioned, in one of the podcasts, that the pump jacks (rotations per minute) could also be increased which in turn would increase the barrels of fluid per day. There's still plenty more news to come including a possible Gas conversion for running costs of the wells.
Good Luck All Shareholders
Greg I suppose now its a question of timeline in how long it will take to source the extra water storage tanks and get the explosive permit for site.
We were achieving a 93.7% water / oil cut and if we can process anywhere near 6,500 barrels of fluid per day then it will be an impressive total.
BTN 03 an unknown quantity in that additional multiple zones untested and be interesting to see once perforated what we may or may not have.