Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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rossannan - you posted yesterday 10:15 ' The RNS clearly implies NOTHING is expected from Stena ' - as I posted at the time I couldn't see how a refresher RNS about CCLN facility ' clearly implies ' what you say!
Now that you've listened to the Eytan Uliel presentation you'll presumably agree you're talking tosh again as it's FACT that Eytan mentioned the ' Drill for Equity ' deal with Stena is still on the table until December - if Eytan, the Commercial Director, agreed with you why would he have mentioned it!
I've NO IDEA if Stena will take up their option either wholly or in part - I'd like to see it but the drill will proceed with or without Stena equity participation - you have your own agenda here which seems to be predicated on you being more knowledgeable than company officers - we've seen where that got you with Koot and the Saffron drill - you don't seem to have learnt from it !
rossannan - you keep banging on about disappointment for folk with unrealistic expectations around the former CERP assets - you've got to try and let it go rossannan - you should have known it was unrealistic to try and convince Koot that he should go for a Placing when he'd given shareholders an assurance he wouldn't - banging on about it for close to a year was good stamina but we've learnt from a prominent European historical figure that repeating it every day doesn't make it true rossannan!
Just admit you got it wrong big time rossannan and apologise !
BTW - for the record the Stena deal is available until it's contractually not available - all this tea leaf reading is bullshyte - ' clear implication ' - absolute nonsense rossannan! Keeping the CCLN live seems sensible to me to cover contingencies associated with drilling that most investors in this high risk venture understand - obviously Post Office Book risk takers like Irene find it daunting but no one forcing her to be involved !
Probably. Current volume is fairly consistent with the past few trading days. The lack of information attributed to Stena in the RNS has nothing to do with the benign move nor the 30/45 or 45/60 or 40/60 days.
You said in the first instance it was due to the 'drill time', then 'Stena'... now its 'volume'.
Robbla
So you think the tick down would have happened anyway? Do the trades and volume not suggest otherwise?
its a common thing for drilling companies to sign a "f.o" option agreement to secure work for a worst case scenario's, but that is usually all it serves and on 90% of the cases these options are not realized and in this case as the well is funded and got the "green light" no reason for stena to use its option.
i agree it holds a bit of downside but the most important thing is to get the p-1 well rns'd and ride the hype or for the long term investors to go all the way for results.
topping up as i write and will avg. up to 2.25p.
GLA
If you look at the drill time line it states 40 - 60 days, a lot will depend on the rate they penetrate anyway. The point I was trying to make was that the 'tick down' has naff all to do with 30/45 days opposed to 40/60 days just as much as it (the 'tick down') has nothing to do with the absence of (not) mentioning Stena.
Robbla
It’s the volume and the timing of the volume that links the tick down to the RNS. The RNS clearly implies that nothing is expected from Stena, some folk bought into the idea that Stena would farm in or subscribe, hence the sales and the tick down.
Oh yeah for sure, 100%. Cant think of any reasons why share prices move up and down. Must be the due to the Stena connection. Sigh...
Robbla , the RNS dated 26/05/20 states 30/45 days which is what I would expect an exploration well being drilled with a dual Derrick drillship to take. Maybe 45/60 days has crept in to other RNS’s that I haven’t seen.
Robbla
Must be the Stena factor then.
No, the well was always going to be 40 - 60 days.
'The drilling rig will mobilize to the Blocks from its previous assignment and is planned to commence its first well in the first quarter of 2020. Each well is scheduled to take approximately 40 - 60 days;'
And there’s the tick down...
The timetable extension that 2020Vision highlighted may explain the share price reaction to this RNS - if anything the share price looks likely to tick down - but I suspect that this is more to do with the clear implication in this RNS that nothing is expected from Stena. But that was not very realistic in the first place, so arguably this will come to be seen as a positive RNS and I’m glad that I got my final top done ahead of it. The road ahead seems clearer now. The presentation will be interesting. It could be a disappointment for folk with unrealistic expectations around the former CERP assets, but hopefully not on the P1 front.