Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I have a sinking feeling we are going to get another extension. The lack of action from the BoD is a little embarrassing considering investors have been locked in for 2 years with very little comms and zero reward. Surely there must be something worth reporting!
Come On Scotty ….Folk Are Waiting … For You’re Next …
BS ..Story …
The positive here is that natural gas prices are up significantly and given Coos Bay location, it trades at a local up to +50% premium to Henry Hub according to CZNs website. I expect HH to go over $10 sharpish so Coos Bay gas could conceivably be $15 soon. Then you have a far more supportive political environment for natural gas projects. We are waiting for news on PETs readiness to deal and RTO with CZN though we are also waiting for CZN itself to announce a sale or farmout, which management indicated would in Q4. Nowt to stop CZN announcing a deal on Coos Bay.
thanks .
One of my better performing shares though aslong as something good happens.
Exclusivity with PET expires at the end of September. You would hope they have progressed with the due diligence by then to get the RTO finalised, however, they could also extend the exclusivity arrangement.... again!
Fingers crossed they can get this tied up soon. 2 years in suspension is a bit of a joke!
Is this still happening or not i have lost track . Anyone got any info ?
surged again. according to czn, coos bay gas trades at premium to this. would like to see a farmout unless sale is equally attractive.
April RNS said PET was trying to advance some customer agreements before RTO. Still, nothing to stop CZN doing a transaction on Coos Bay. If there's no RTO and this gets sold or farmed out at today's gas, still good news for s/h. Not sure of Coos Bay value, but I recall CAD 32m ish spent already. Can't do anything but wait.
Curzon and PET continue active discussions regarding the potential extension of PET's exclusivity rights ….
17 Months On ……And Now The Above …..
Let’s Face It ….. Scotties Record As A CEO … Is Very Poor Indeed imo
Lol …. Basically saying “Pet Have Stopped Paying “
Just Normal Scotty Guff …..
Why post that RNS today? Effectively saying nothing?
Is there enough data on CBM to run an NPV calc so we can work out sale or farmout value?
Scotty Where Are You ....Has It Been Extended ?
Come On Scotty … Has It Been Extended ?
That's a fair point. In simple terms they have given up to the 30th September but potentially should be issuing a notice of extension each month up to that point?!
It would be nice to think that the deal is done and its just taking a few days to get the paperwork finished before issuing an RNS.
This Doesn’t Mean It Has Been Extended IMO
Exclusivity Extensions
On 4 January 2022, 31 January 2022, 23 February 2022, 2 Match 2022, 31 March 2022 and 28 April 2022 the Company announced a series of extensions to the exclusivity period entered into with Poseidon Enhanced Technologies Limited under the terms of the LOI entered into between the parties, initially announced on 3 February 2021, with such period now expiring on 1 June 2022 and extendable up to 30 September 2022.
We are technically covered up to September as per the results RNS, however, they must surely be near to finalising a deal. Shareholders are completely in the dark on timescales for completion, sale value (both Coos Bay and CZN as a shell). As previously stated in the chat we only need a few million quid overall and we are back in business with the shareholders standing to make a bit of money (well deserved after the length wait).
28th April RNS says exclusivity period extended to Jun 1st. But final results RNS the following day says under the review of business section that this is now end of September. Hadn't noticed it before.
This would explain this months silence but wrong of them to bury this in the final results RNS of 29th April.
WTF is going on?
Where Is It ? Deal , Extension , Or No Deal ….
Coos Bay is surely worth several tens of million given historical spend is such and project NPV etc must've skyrocketed at $8+ gas. Should be enough to cover the bills.
Even if Coos bay is flogged cheap for a few million our MCAP stands at £775,000 so we are in for an instant multibag + whatever value is appointed for the RTO which at this stage is a complete secret it turns out.
My only concern is the amount of debt CZN have accrued over the last 2 years. The BoD are going to need a million or two just to clear that before shareholders get their slice of the cake.
Any idea on what Coos Bay might be worth at today's gas? It's had tens of millions already spent on getting it this far. Surely an uber bagger when this asset is sold and RTO completes?
Pretty good update that.
Substantial organizational progress was made on the proposed RTO, as well as operationally and organizationally at PPL. Reflecting this progress, and after the year-end, the Company extended PPL's exclusivity rights to allow it additional time to complete key business development discussions with international PET manufacturers and certain global CPG brands, prior to undertaking the proposed RTO; currently targeted for the latter half of 2022.
and
In relation to the Company's coal bed methane project at Coos Bay, the conflict in Ukraine has led directly to both short and long term increases in natural gas prices, with European countries in particular, looking to develop alternate sources of energy including imported LNG from North America and the Middle East. The war is also driving increased construction of new modular nuclear reactors and increasing reliance on renewables globally. Notwithstanding that Coos Bay is currently earmarked for disposal, such global factors make it a potentially more valuable asset in this environment, and one that may well deliver this value through a transaction timed with the completion of the proposed PPL RTO.
A bit silly this. At today's nat gas price, frankly ditch the RTO and sell the project for what?