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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ps. before anybody says I should be in bed rather than posting at 02.38 BST. I live overseas, in the Sun, by a beach.
If I can briefly relate facts about Sound Energy. This company had an accountant CEO, with previous employment, as a bean counter in RDS. The co was (is) an exploration company, for gas, initially in Italy, and later in Morocco. The sp in 2014 was pennies. The Moroccan asset already had gas finds by previous operator. There were 3 successful drills, in the same area as previous gsd finds. The sp reached £1. 3 outlier drills were performed in 17,18 and 2019. All non-commercial. The gas discoveries amounted to c0.5 trillion cu ft of gas,. The UK uses 3tcf per annum. So a substantial amount of known reserves. After the failed drills, the CEO put the co up for sale. SOU held 47.5% of the License. He found a buyer for assets which would have left SOU with c14% of the License. The 'deal' fell through because the buyer could not raise the finance. The CEO paid himself c £1M pa the last 3 years. Following the breakdown of the deal, CEO left, and several other Directors.
The sp went to below 1p. There is a new CEO, an OnG man, with geolgy degree, and experience in exploration. After only a few months, a new direction has been given in the medium term to build and operate an LNG plant utilising the gas from the discovery. A HOT agreement has been reached with a LNG developer, who will inject capital, and an income stream next financial year of c$27M. This will keep the Co solvent, and allow, in time, the ultimate target of an OnG man identifying drilling sites which may get the sp in 4, 5 years back to 50p plus. Moral. Accountants are fine with established, producing, profitable companies, whi need a man at the helm to reduce taxation payments. At this stage EML need a mining man. It has found one. All looks good for 2021 and production towards the end of that year. Sorry for lenght.
People are massively mistaken if they think this is even in the slightest negative news.
This move has a huge impact in such a positive way and I feel this will only speed up things.
Obviously not there research on EML ontarget ! Things are moving swiftly behind the scenes so hopefully they’ll get caught out and miss the boat.
From the rns:
"We would like to thank Hayden for his hard work in guiding the Company to this point and his pragmatism in recognising that a different skill set will support the Company into its next phase of our development. We are pleased that he will remain with Emmerson as a Director of the Company, focusing on the financing and strategic partner discussions which are underway."
I would say as Exec
Surprised to see plenty of selling today. Are people thinking that because there's a new CEO nothing will happen for some months?
I think they are mistaken if so.
I saw some mention there's going to be a podcast/interview with the new CEO somewhere. Hopefully that will shed some light.
Is Hayden staying on just as a board director or is it as an executive director? Not clear on that. I am hoping it is the latter with a full time day to day role overseeing the financing.
I met Graham many years ago at a SXX exhibition before they got planning approval. Really straight forward, tell it as it is guy with huge experience. Fantastic that he is now joining us.
The engineering side on SXX was excellent - they failed on the financing so that doesn't give me any worries. Time will tell, but looks to be a good appointment - key that we retained HL too. Onwards and upwards!
"Graham is a highly experienced potash mining executive with a clear track record of success in the industry. What is more unique is his recent experience of taking a large, highly complex, underground mine all the way from a concept through to construction. In my experience, this is a rare combination of skills in any commodity, and this is particularly true in the potash industry.
"We would like to thank Hayden for his hard work in guiding the Company to this point and his pragmatism in recognising that a different skill set will support the Company into its next phase of our development. We are pleased that he will remain with Emmerson as a Director of the Company, focusing on the financing and strategic partner discussions which are underway."
Morning all . Invested here a few weeks ago . Looked like a real fresh project , real potential , and genuine people involved . This new appointment does look very sensible , and despite the SXX debacle ( I only lost a bit luckily ) , that was a pretty major project . One big step towards making this a reality , and will surely aid the financing negotiations . Well done
I’m sure I write for all in thanking Hayden, for his tremendous work, faultless.
A new CEO, in place with a track record in mining Potash, now installed.