Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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I can get rid of the vid that's no problem, it's all the other adds that keep popping up. Telegram is so much easier
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CPR. the last one began in September 2017 with results produced 5 months later February 2018.
We are currently 3 to 4 months since the company were re-engaged to revise using the more complex 3D data.
It might just be possible to have it in time for the AGM but I wouldn't hang RoJos hat on it.
The Ch1 drill was at last notification to happen after the NT2 tests so at a guess qrt4 which would give the CPR time to be in beforehand and if the upgrade is confirmed as expected, or even increased, then that should create some real excitement around the drill.
Not sure what you are getting, all I get is the video and I hit the cross to get rid of it, and the "do you want to pay us so you don't get adverts" message which I dismiss, that's all I get so no big deal here, there's far worse advert spam on YouTube, some channels I watch I get 5 adverts during a 1 hour video and have to wait for the ads to finish each time.
Ii don't think my phone can cope, is there anything I can do about it, apart from nor bothering to post here🤪
Alcapone1,
Nice find! Yes, Gas from the Southern Region, that's where ours is, and as you say, no chance of the LNG being a near term pipeline filler.
I get the feeling Tanzania would like pump Ntorya a LOT higher so it can sell Gas to Uganda, Kenya and Zambia (possibly others too) ASAP and get big dollar income flowing into the county, having had big issues from the shortage of dollars, and the strong desire to build the country up even further. Ntorya could be pumped big time, as they have the offshore gas to come online in the next 10 years, so they don't actually need Ntorya to last 25 years. 140MMscfd is history, Ntorya could be pumped 5x or even 10x that, sell the gas and have big dollars coming into the country.
https://blogs.worldbank.org/en/africacan/what-does-tanzanias-move-lower-middle-income-status-mean
SQ I agree about drip feeding news and always believed it to be the right approach. What we have now is a professional PR company advising and it shows.
They are selling the sizzle and the aroma, the bacon butty comes later.
There's only 1 gig in town that could supply this pipeline in the next 5-10 years
No great volume nor great value but now 1.80 - 85p. So all of a sudden a marked upward tick not justified by the trading numbers and even more unusual, of late, a quoted spread that is not totally ridiculous. Does this mean that the MM's now know the direction of travel and are less defensive of their positions?
Whatever the reality looking positive.
Out for the afternoon so GLA and keep the pot boiling.
The bid is rising spread is closing ( Troajan is a informer)
Welcome Troajan ! Are you aiming to be an lth ot HTGT sort ?
Chrome,
Not sure where you are seeing 2,760,000,000,000
I posted 2.76TCF = 2,760,000,000 MCF, which is correct according to:
https://www.kylesconverter.com/volume/trillion-cubic-feet-to-thousands-of-cubic-feet
Aminex get paid by the MMBtu which is very close to the MCF price of 3.6212 seen here:
https://www.pura.go.tz/uploads/files/Pooled%20Wellhead%20Natural%20Gas%20Price%202023.pdf
Is it me, has this really significant news been quite slow getting out there. Think the message is loud and clear now.
https://www.intellinews.com/ruvuma-jv-receives-25-year-development-licence-for-ntorya-gas-discovery-in-tanzania-327053/
https://www.oilfieldtechnology.com/drilling-and-production/28052024/ara-petroleum-tanzania-receives-development-licence-for-ntorya-gas-field/
I think we will have a few people buying back in at these levels - once they realise its not going to drop back much lower for them to re-buy
Offer now 1.90
1.845p paid
I note a nice tick up. 1.70 - 1.85p.
Let's hope it sticks and is a sign of things to come.
They said it somewhere, can't find it at the moment, but this from SPE.org
"However, reserves must still be categorized according to the specific criteria of the SPE/WPC definitions and therefore proved reserves will be limited to those quantities that are commercial under current economic conditions, while probable and possible reserves may be based on future economic conditions. In general, quantities should not be classified as reserves unless there is an expectation that the accumulation will be developed and placed on production within a reasonable timeframe."
Stockcheque
I thought 2.76tcf= 2,760,000,000,000 cf NOT mcf
Am I wrong.
Always is here. I think some will sell off on no news. If this happens I will pick up a few more. Never, ever believe timelines here or in Tanzania
Well I take your point BG but you could make the case that we cannot do that in any event until we get the pipeline; without that there is no route to market. Does that mean we will be waiting until Q1/2 2025 for the CPR?
No, of course not, license and CPR do not need to follow sequentially for the assets to be declared 1 or 2 P reserves - we would get the same result irrespective of the order of delivery. They could say that subject to delivery of Dev License we consider these to be .... etc, etc
"so why are we still waiting?"
They needed the development licence to be issued first before the 3.45 mmcf giip which is currently classed as resource can be transferred to 1p 2p reserves. Ie the Ntorya development was certain
Yes BG, happy to accept that but still a little surprised therefore that we have not yet seen the CPR after all this time. So CH1 is not relevant to the CPR so why are we still waiting? As SQ suggested, "drip feeding news"? I cannot accept that as for goodness sake no-one could claim it isn't price sensitive news and would therefore be required to RNS it.
Anyway not a major issue - as I have said a few times over recent days - only a few weeks to the AGM now; so all will become clear very soon.