Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Ahhh that's the confusion , I thought they were on estimates not actual sales. My mistake. Zaza spoke of train loads of oil to be sold so perhaps that's where MP s money in the bank has come from .
I dont believe at all we have much money in the bank.
The main problem is coming out of the arbitration with something. I'm sure the Hope problem is on the back burner atm . He can be dealt with if we do retain something. A deal will be done.
Why get millions in the bank that can be snatched away by Hope.
The worst case scenario is that the GG walk away with the lot and that theres $46 million in the bank to pay off Hope.
My point is I believe if the field was scaled up it could produce the figures MP spoke of or why the fight over it , however why get the field producing millions if it's just going to go on Hope's pocket ?
Sr , ha ha,you ruining pj s perverted fetish obsession .
I thought there were issues with the railtrack re the transportation ,and storage capacity
MadPunters figures were pie in the sky. The facility isn't geared up to manage 1000 bpd plus for any length of time. Once the flow testing was complete on the last three wells, they'll have shut the chokes. I know ZM said they can handle 10,000 bpd, but not from what I saw when I was out there.
I'll wager there's more money in my bank account than what there is in FRR's.......and I'm considerably overdrawn.
I can believe Madpunters figures are possible as they were based on figures released by FRR around April 2018 that now seem verified by the 5 American companies over 18 months.
I can also believe that these 5 companies worked their figures out on data provided , not by standing next to the well head for 18 months.
Thanks StarRage
BTW - MadP isn't posting but is still updating there archive - so cheers MadP.
Just my opinion but I believe Zaza does not want to give Hope a penny let alone $46 million . I dont believe that money is in the bank at all. I believe money is tight. We heard the employees were not being paid and there was truth in that however it was blown out of proportion according to Zaza.
We heard Zaza mention 30 tcf verified by 5 American companies over 18 months . Even at the lowest sale price of $1 billion per TCF $46 million is a drop in the ocean if we have to pay it to Hope from a sale of the asset.
It doesn't give any guidance to what or how much has been produced, but we had the whole "workers not being paid but working anyway" saga. And around end of last year-ish there was a protest to block roads or railway lines to stop oil movements. Not sure if that means there are a few staff turning up and putting the lights on or points to anything more substantial.
I believe that Madpunters figures are more than believable.
What I dont believe is that we have continued production over the last 18 months at least. Why would we continue to produce millions of dollars of oil and gas that could ultimately end up in Hope's and Outriders pocket in a scenario where they make a huge profit from this ?
I would certainly have turned the taps off.
If we are to believe these estimates that’s a fair point, StarRage. Just don’t see this saga ending that way. :)
Assuming all our workers haven't been fired.... ;-)
Maybe I’m misunderstanding, On what cash if there’s no asset?
Given the shenanigans and foul play of Outrider, It’s my thoughts that Zaza would prefer Fold the company than give Hope a penny. If Zaza is adamant that he has gotten what he wanted out of the arbitration, if I were Zaza, my next move will be to ensure that Outrider gets less than what they would have, had he just played fair from the outset. In other words, either Hope gets nothing, or he gets an amount that he would consider nominal in comparison to what he could have, had he gotten the shares before (if we are to believe) a supermajority buyout. The grass not always being greener on the other side and all that jazz.