Firering Strategic Minerals: From explorer to producer. Watch the video here.
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6months license extension
https://drillordrop.com/2020/10/29/short-extension-to-brockham-licence/amp/?__twitter_impression=true
Yet no water injector so wells are duds without the additional pressure and can't dump the water produced from Lidsey = ££££ trucking costs up North to have it burnt.
This does feel more and more like it's circling the drain.
Securing the unexpectedly vastly increased funding (at a commercially bearable rate) to give them a chance to see if Poundland Gas can be made to deliver is the only hope that's left for Anguish, IMO.
Nothing else matters (as I expect the BoD well know, though will never say as they desperately point at distracting irrelevances such as Brockham) - it's hope Poundland can be got producing to commercial levels or bust. It really is last chance saloon.
"This does feel more and more like it's circling the drain." I think some posters on this board have been posting statements similar to these for the past 1 to 2 years. So nothing new in that respect! I recall statements that the OGA would never approve the SFB transfer, they'd never get the National Grid to engage, the National Grid would take years to move, Angus would not be able to make future placings without a CLN. All turned out to be incorrect.
SFB does appear like its moving towards resumed production, just as Nat Gas prices appear to be rising. I'm reading more and more stories as to Nat Gas being the transition fuel in the shift from Oil to Green, so perhaps a gas focus was a good call by Angus. We shall see.
Finally, I'd like the loan to be closed although I believe in the interview it was stated they could proceed without loan funding via a series of HP arrangements. I think the loan is viewed as potentially being a more attractive all in financing package (obviously depending on the funding rate, which none of us know yet). Let's see where things land on the loan.
That seems like a leading question Rastuss.
I'm not particularly concerned about the Riverfort RNS given the recent £1m placing. I seem to recall the same cat and mouse game every month on this board. Oh, there's no Riverfort RNS. Angus are in trouble. Silence when inevitably the Riverfort RNS is released. Luckily that's the last month I believe for that particular charade.
Agreed we'd all like the loan to be concluded, although as you consistently point out it's quite a large some of money and so its inevitably going to take time.
Again you are distorting the facts re. the £12m as economically 50% is attributable to Angus' circa 50% share, and out of that £6m pro-rated amount £2.85m is to acquire machinery that would have otherwise been subject to separate HP financing, £1.2m is for the future side track well which would clearly have needed to be financed otherwise in due course (perhaps by placing), £0.75m towards abandonment reserves (which Angus would have otherwise financed through future revenues) and £0.8 m for contingencies (a nice to have). So you could equally say, on a shoe string budget if Angus kicked the can on the above costs, it only needed £0.4m for its proportionate share to get SFB up and running. Not suggesting they do this - but it does show quite a difference to £12m that Angus need "to finish the job".
Gallifreyan,
The Riverfort RNS may not be important, and it's pretty much nailed on that it will be paid in cash, but as I posted, it could hint at a return to the old, sloppy comms from Angus, and only gives fuel to the noisy (filtered) crew who just love to spend all day bashing here, using even the smallest thing to show that everything here is doomed to falure.
When these people have been posting non-stop for over 5 months, repeating the same tiresome arguments, and being deliberately disruptive and misleading with their facts and figures, small things like this do not help.
Is it that hard to set a monthly reminder to review, check and announce a known event like this, even with all the bigger things going on?
When the comms has been (mostly) good to excellent (compared to the past) over the past 20 months or so, and the IQ's being a good source of non-material updates/clarifications, timely attention to this seemingly 'trivial' matter is disappointing to see
few more small buys and this will tick up.
Took some more pound land shares this morning .9 will arrive soon Enough imo.
Ps keep the deramping up so I can have another Very cheap Top up gla