Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Just a bit fed up with spam Roxi.
Nothing personal.
Probably the same reason you just wrote yours??,
Nice to be nice, i will looking forward to it☀️😁
I'm not sure why you wasted your time writing that post... It adds nothing of any value.
Have a nice time by the sea.
It is then, for Gas flows , very happy they are taking the time required, safety at this stage is of critical importance
as i discussed with David Neuhauser at the AGM, we don't need any Hic-Ups at this stage of the game,
he agreed entirely that the plant should be brought into production with safety being the focus of attention, if it takes an extra week or two so be it, this plant will be functioning for years to come,
every joint-flange -connection and weld needs to be checked for integrity most of this has already been done,
once we switch it on !!!, it becomes 24 hour 7 days a week operation, lots of moving parts, with gas sales &Liquid sales to control, we must ensure the logistics are in place to take the valuable liquids away from the plant,
the early months of production will be liquid intensive, until the gas flows settle down.
Have a great weekend everyone, i am off to enjoy a nice weekend break by the sea
Wont be far away now, im hoping for Monday RNS give them a few extra days, if it comes before then all well and good.
A good opportunity to pick up a few cheap shares, imo
Brent Oil Price steady at $85
From the 6th June update..
The project remains on schedule for gas into the Facility in approximately two weeks time
two weeks is the 20th - so, we should be hearing anytime soon
It’s fairly common to leave a pipeline in place. Depending on the method of setting I.e if it’s trenched and buried generally you will do more harm than good removing it.
Similarly, pipelines will usually be pigged and left in place, lots of sea creatures make homes around these if not buried.
It’s really not hard to explain why removing X km of pipeline from a sea floor swarming with life is a silly idea. But the. Governments arnt run by scientist or engineers, usually just idiots with a politics degree without a single clue of the fundamentals for what they are actually arguing for or against.
I think the same can be said about other Oil stocks Charlie, PTAL for instance have recently fallen off a cliff from 48p to 41p, i think they have bigger problems than JSE at the moment,
best go back over there and rally the troops
Good to see this forum acting as it should. A balanced forum is a healthy forum. Underneath the clueless ramps, there are legitimate questions about the business model and management, which as the share price shows are not going away.
Brent Increase's yet again!!! , I wasn't expecting such a strong re-bound these past few weeks, but none the less very welcome,
i am not expecting an update on AKATARA this week, as i mentioned to the Directors last week the most important focus, should be the integrity and safety of bringing the gas online, rather than push for a sprint to the end.
i would be quite happy for the gas production to start in early July , meanwhile the recent increase in Brent will bring in decent profits even at Montara and Stag, where the premiums will average over $90 for the low Sulphur oil.
Sadly not the case. Montara's production is now expected to cease in 2030 and Stag in 2035. They'll probably have the money to meet the liabilities but they are huge. Changes in costs/end of life year/required works have a big positive or negative impact.
Comments like Akatara exceeds the market cap so this is mispriced are idiotic because the liabilities are being ignored.
There's also this rather disturbing part of the annual report:
Currently, the Group’s approach to decommissioning is to leave subsea pipelines in situ at both Stag and Montara. NOPSEMA’s base case is full removal of subsea infrastructure, unless it can be proven there is a net environmental
benefit to leave the infrastructure in place. There is a risk that Jadestone would be required to remove subsea pipelines if the Group cannot prove a net environmental benefit of leaving them in situ. There have been no changes to the decommissioning risks associated with government policy in the regions in which the Group operates. The Group will accelerate studies to assess whether there would be a net environmental benefit from leavin subsea pipelines at Montara and Stag in situ. The Group will continually update it’s knowledge and understanding of decommissioning practices to ensure that decommissioning cost estimates can be reduced and risks eliminated.
The liability is paid down over the next 15-30 years so in that context it’s way down the road, most of us won’t be here when the liabilities are due
Meanwhile the cash will come rolling in
BP Shell etc have Multi Multi Billions of liabilities
GLA LTH that’s what happens in the oil and gas industry
The liabilities are over a billion dollars. Mostly decommissioning, but also borrowings, trade and other payables etc.
$85, very nice, if it stays around here, will be picking up prices in the $90 range,
hope it steadies around here for next few months
The conpany is a lot stronger than last year, it has diversified producing assets now, the capex spend on akatara is coming to an end. It will now become a cashcow.
Producing 22kboepd is awesome with 80% of that being liquids.
In the stock mkt you value on future potential if you wait 6 months the sp will be alot higher..
15% not too bad considering bank loan rates around 11-12%currently
And where does the equity disappear to??
Assets surely worth many multiples of current MCap
£800 M? For take over offer , imo
Check page 89 of the stat accounts and the respective notes to the accounts. Another year of losses and the equity disappears, hence the low share price. Need to generate cash & profit and get shot of those onerous finance costs @ 15% !!
Yes, all very well covered and diminishing rapidly over the next few months, especially with the good run-on Oil prices over the recent 3 months, JSE can through of a lot of cash when Brent around $80 prices, if the trend continues into the secon half of the year, JSE could be cash positive by Jan 2025, imo
What are these liabilities, they are decommissioning costs and RBL?
DECIDED
Makes good income i feel by march 2025 we be at 50p . So decded to add another lot this morning
Nice to see Brent oil price slowly rising these past few days, now just over $83, with JSE production soon to push over 20,000Bpde , the cash inflows for 2024 will only grow stronger, and as stated $35 Million of revenue expected to be received this month, the next 6 months look promising, are we about to turn the corner to the upside???
You can't just ignore the liabilities. Total equity at end of 2023 was $54M..
Action is about to begin at jse, Akatara alone is worth more than current mkt cap.