Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Idandy
doing some bench press's,helps with the lifting.lol.
and some dianobol?
Great job Trojan - you have moved the price
Top up incoming....£4k
last one...gla
Someone on here posted that ;-
“ Everything that could have gone wrong has.
Let's hope it all goes well from now on. “
Well I certainly agree with that.
But will it go well from now ?
It’s a bit like a football team losing 10 football games and then suddenly winning the next game against a top team.
But yeah, I guess it could happen. Personally I have very knowledge in this industry and terms like a side drill means absolutely nothing to me. But the company managers and directors get paid handsomely to hopefully know what they’re doing. So far they’ve failed but very big expectations with this next drill.
Gordon Bennet I hope they do it this time
This will be completely irrelevant if the well flows even lower than predicted at 250bpd+
Yes expected. If on time and enough
Yes and expected to be funded from production post side-read
Another 1.4 mln due between may-aug. Read
It is a misconception that has been passed around that a placing is due to a payment that needs paying at the end of the month.
This was accounted for in the recent raise if you read through the itemised accounts in the fundraise rns
*Use of proceeds
The gross proceeds of the Fundraise, combined with the Company's existing unrestricted cash, will be used as follows:
· Drilling and completion of the side track ?2.1m
· Payment of outstanding costs due before end April 2024 related to the SCHB-2(2.) well ?1.1m
· General working capital and to cover the expenses of the Fundraise ?1.0m
Steve what he is saying is 85% chance of it being commercial and then 80% chance of it getting above the commercial level and receiving a higher bpd
So overall about 65%.
Everything that could have gone wrong has.
Let's hope it all goes well from now on.
Welcome back Ra11adw2, good post.
The way I see it I would put the chance of the sidetrack being successful at about 85%.
I also think there is an 80% chance of getting more than 150 bopd
In my view a "modest" result would be 250 bopd, a "good" result would be 500 bopd and a "very good" result would be 900 bopd).
I am hoping for around 500 bopd and everything above that number would be a big bonus!!
GLA
Good update and your correct around values, currently we have a market cap of circa 10 mil, very few companies on aim are profitable at such a low market cap.
If this well is a duster we will just dilute again, all companies do it look at 88e for example.
We got 50 bpd before so only need 100 more to get commercial so provided the geography is right I can see that figure being easily achievable. If they thought this was a diff they wouid if moved onto the second well rather than trying to correct this one.
Back from my holiday, i see nothing has changed just a small delay. Soon we will know where BCE is going and what the future is.
I would say end of May 2024 as a timeframe, this gives enough time including any further delays and we will know 100% what the results are.
I have waited since last April 2023, so have many others. I am sure you can wait 1 month or less, its not long otherwise do not invest or stop complaining. All shareholders who have brought before collapse to 0.5p are down, unless they have averaged down.
Like i said many times there is only 2 outcomes with the new contractors, new equipment, new techniques and lessons learned from previous drillings:
1. Oil is there 100%, BCE get it out and whatever number 150bopd-900bopd they state will be possible, share price will rise.
Short term depending on bopd numbers, financials and BCE future statement going forward. I believe 0.10p-0.30p is possible. Long term 0.30p-1p is possible if very high bopd numbers and good future outlook even with dilution and shares outstanding. Remember we only need 150bopd to be profitable.
2) BCE fail to get oil out which is 100% there, more dilution and another attempt to drill. Otherwise drill other wells or just sell all the assets because it is worth something with oil. So Admin/bankrupt is long way off.