Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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“Gil's played this like a master stroke. Always raising cash before it's actually needed.”
I didn’t think we would raise or want to see one this early on but what a difference a few days can make. If we get a new trading range of 180-200 then a raise with a small discount would be great. Imo the sp changes everything.
Trek, mind changer!
They have $350m in cash which is more than enough to keep the lights on whatever partners have planned.
Soccer, Chryasoar and others will be interested.
On a recent podcast Gil made a direct reference to Africa Oil and the Lundin Group saying funding is not a problem. When I have my speculative cap on, it makes me think that with AOI already owning 19% of the company, could the Lundin Group come knocking. Looking at its vision and strategy, it wouldn’t come as a surprise!
Gil had a good reason for raising funds at the time when he did and the partners will have been fairly open in their plans. I think Tullow have been iron clad in stating keep schtum but here's the plan.
As operator it's their gig and they will have a plan to prove up value and farm out within as quick a timeframe as possible. Mindful of the geopolitical and macro situation.
I’m with you IJT, can’t see them waiting for next year to carry out more drilling. Maybe one more or two after Carapa.
Remember Jethro as drilled as a producer - now I wonder why that was
Looking at TSX cant quite believe the £1.58 equivalent figure. Seems like something must be in the offing but hard to know what.
As strong as my belief has been in what Gil and co are doing, its surprising to see the price moving with this kind of speed.
Personally, I still think there must be a trick up the sleeve this autumn. Is it the Jethro extension as alluded to on ADVFN, a punt at Rappu along with Joe or both....or something completely different.
Time will tell but what a journey so far....
Previously Namibia has been misunderstood here is an explanation
"In the Walvis basin and essentially totally undrilled Luderitz Basin though, there is now also clear evidence that many of the historic wells were drilled above the Upper Aptian Shale, which appears to be over pressured and could be acting as a seal. Equally interesting is the fact that the few wells drilled below the seal in the right parts of these and the Orange Basin to the south all found hydrocarbons where the wells encountered any reservoir. New wells that will test this concept will almost certainly result."
HTTP://www.frontierenergy.network/ceos-picks/2019/5/22/mike-lakin-managing-director-envoi-limited-at-the-africa-eampp-summit-london
AziNam "Brulpadda confirms source rock is extensive in the region and capable of filling world-class reservoirs; Aptian source throughout the region"
The next phase of exploration is just a couple of weeks away
Gil's played this like a master stroke. Always raising cash before it's actually needed.
We questioned the Total farm out at the time, for such a small amount of cash, but the SP loved it as we'd never need to go to the market with a discounted placing.
He's all about increasing shareholder value and unlike other CEO's on AIM, he actually does it!
Maverick,
I'm not a fan of Namibia; IMO all the oil migrated to Brasil.
I don't think they will give up Guyana, for Namibia. That's why I see them raising funds for a potential Guyana FID.
Itsyou
Why give up Guyana which is hopefully derisked nowfor Namibia. Namibia is still yet to be proven. Yes i know we have massive blocks there, but that’s part of the risk I.e hitting the black gold in exactly the right place in the many millions of square miles. Surely concentrating on Guyana where everyone wants a piece of, is the place to be.
Let the majors derisk Namibia over the next 2 years. Would anyone want to risk their hard earned money on Namibian blocks that are yet to be proven.
olderandwiser,
My thoughts exactly on the last world tour.
Are ECO going into production as they don't need cash for drilling?
TLW seem keen on getting production up and running quick and monetize the potential asset(which will need proving up via appraisal). But all looks very good atm.
TLW don't have the cash to keep exploration drilling, unlike Exxon/Hess/CNOOC who have deep pockets that can afford to keep on exploration drilling.
Makes sense to go to production. Let the big boys do what they're experienced at and get more value, as opposed to a cheap sell now.
QP must've known they hit on the final agreement date to take a slice of Total's share. I'd disregard what they paid(if we ever find out). There's probably some I'll scratch your back, if you scratch mine, stuff going on.
I'm sure Gil would rather sell up(There's no surf for him in Guyana, just muddy water) and concentrate on Namibia, where it's perfect for surfing. Then again, he can probably just retire now and spend his time in Sri lanka(where he goes every year) and surf every morning. Why not!
Looks like a bit of a spike, tax normally drops off towards close so if it is different today then will be exciting tom for lse. Come on tsx
I hear you, diversified, but they would say that, wouldn't they.
Anyway, we lived through the last one and actually benefited from it by gaining extra cheap shares, so best to ignore the noise of the current high volume and activity .
At one point it was 2.75 to buy in Canada, something is brewing!
Olderandwiser - No placing intended, from the horses mouth.
Was thinking the spud RNS wouldn't have much effect on the share price? Maybe its positioning for the second discovery and or M&A? IMO
Don't shoot the messenger, but isn't this an action Replay of the rise in volume accompanying Gil doing the rounds of IIs back in March, prior to a placing?
CAD$2.57 = 158.50p! Can't see any spud filing on SEDAR.
Volume on tsx also picking up. 2.35CAD = £1.45. This dual listing is very strange.
Very impressive vol today on aim,... Long may it continue
Agreed on the big picture. SP has pushed past $1.40 on the TSXV today.
I'm not sure why anybody would consider selling after Joe is drilled either. The bigger picture vastly exceeds the SP.
Who really cares about inter day prices just now. People have been posting so much about in or out, buy back later etc etc. I’ve been in this with an average price of 17p. I’m over 500% up and it’s going to keep going higher. Until Joe is drilled then I don’t see why anyone would consider selling.
rather back to 110-115p or at least 50% fibs retracement of rise since Thursday- 126p-130p
Rock solid resistance between 136-139! If we can break 140p them blue skies ahead