Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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PV72: Thanks for that .... i was thinking along the same lines.
Lol. Well done Fordy. The old ones are the best!
@IJWT - I share your frustration to an extent on timescales, as im sure we all do. But I suspect there is no news because negotiations are still ongoing on the running order for rig use with the other interested parties. If I was PG and thought I'd be at the back of a v long queue, I'd be on a charm offensive to try and push myself to the front of it.....as for sand jet, it wouldn't surprise me if that kicked off in a couple of weeks, or they slightly delay it to align with the drill rig work. All just guess work for us but just wanted to offer other potential explanations for the delays in comms. Not all delays are bad.
Pardon?
Usual mushroom treatment from PG.
At the Proactive event Sandjet equipment was due to start arriving from mid-April with testing commencing end-April.
Note the Financial statement contains a note saying the contract is signed for SV rig but not timeline.
I do hope given how long it has been mooted that they have ducked in before Chariot/Sound but the silence is currently deafening.
AV, I wouldn’t disagree with you for once. So many outside influences affect the share price. The one thing in the Bods gift is to set a time scale, stick to it or update us if it changes. We are all aware what we potentially have as we are aware that testing is required to find out. Let’s hope we hear something before the end of May or it’s going to be a long summer.
Well that would be fantastic…..still hoping.
Harry,
You are optimistic with that guesstimate!
More like 40% ! This always drops to at least 6 pence on poor news. I fully expect it to do it again before too long.
Should be around 4 to 5 quid this time next year, maybe sooner.
PRD are worth a little more than 10p this time next year.
Hoping!!
Any confirmed delay will see another 18% drop and yet another opportunity for those pesky traders. No wonder the wolves are out.
Do you see a pattern MEM?
MOU2 - Still working on that pesky mud solution after 15 months
MOU1-3 Still working on that pesky flow solution after 3 years
I know what let’s have MOU5, should be drilled some point in 2024 that will keep the troops hoping…..
Still GRH will confuse the world with cryptic Twitter posts and Ozy Keith will keep the flag flying high.
next time this year Rodney…
Nope, not expecting anything from them and if they do communicate who knows what timelines they’ll give and whether they’ll be adhered to anyway.
We can all agree the potential here is significant but with how’s things are run, I’m not sure it’ll even reach it.
There have been many thought provoking posts around Timelines, Budgeting constraints, Testing and Drilling.
It seems that 2 main items are repeated by our management
Missed Timescales and zero Communication to update us mere mortals, the SH who make all this possible.
On this we can probably all agree, or maybe not !!
Tomorrow is the last day of April, is PG really not going to update us on SJ, Tubing and a drilling timescale for MOU -5 ?????
MEM
Ford/GRH/Keith
If the rig isn't available, do you think we should crack on with Sandjet or wait for an indeterminate time?
Is there a time frame without action in which you think the BoD would be required to update shareholders on plans?
Kit costs money and what we need is clearly in demand so it may be that to save on costs the activities need to be staggered out of necessity or we would just be paying for rig/tubing to sit idle while waiting for other to become free.
If we tests 260m and get anywhere near 1m/scf a meter then based on the NPV of the CNG and other uses it would be a very positive result and could be compartmentalised in event of an offer being made.
There are potentially large sums at stake but we don't know for sure and market doesn't yet buy in. Blindly trusting regardless of elastic timeframes is something few CEOs would get away with.
It's a simple hypothetical to answer and something most folk face daily about deliverables and decisions on what to prioritise.
Of course I cannot comment on what I think we should do if that were the case because I do not have the information required to make that sort of decision.
Do I think prd want to crack on and bring this to fruition? 100%
Do I trust Paul and Lonny to make the best decision for the company? 100%
Do I think the vast majority outside of the company want us to have a prolonged period of quiet time? 100%
There is a lot of money at stake!
Ford/GRH/Keith
If the rig isn't available, do you think we should crack on with Sandjet or wait for an indeterminate time?
Is there a time frame without action in which you think the BoD would be required to update shareholders on plans?
I can see that you will continue to skirt around my questions.
You have not answered any of them.
Would you like me to re-post the original message?
Ford, Prd have as yet proven nothing, potential is there, however not one successful flow test has been conducted. As Jimmy also alludes there is no 3 D seismic anywhere on Guercif .
I hold for the potential though …
Once a flow test is proven to flow commercial gas it will be 18 -24 months away imo before anything is monitised, we have no licences even .
Cash burn is also concerning me greatly.. even more so now we are paying for Tobago and additional headcount there. Cash on hand end of Dec 23 was GBP 6.5mm…. We spent GBP 3.4mm in O and A costs last year. 4 months of this year gone, wonder how much we have spent , we also spent at least $700 k on failed perforating work earlier in year. If rig is not available until August we will be down to circa £3.5mm gbp and out of that we also have to pay for very expensive sandjetting and testing…
Chariot have their own issues, most which I go into on their board, however I will add your
Filtration system is flawed, both companies have issues, I cannot see PRD being the chosen one over Chariot, which is why I hold shares in both.. imo Cash is going to be a serious issue here by August, which I think it will be when we drill , no matter what has been stated by our BOD.
And lest we forget, the reason we don't know quite when the rig will be available for Titanosaurus is because Chariot are drilling....onshore. Ostensibly drilling puddles for CNG, same advantages as CNG here, but they are also having a peek beneath the puddles. Seismic points to greater potential. I am also in both Char and PRD.
Keith
I.think there are more than 1 types of posters.
I'm positive on prospects but negative on the Time it is taking to progress. If SV-101 is not available until August do people seriously suggest we wait until then for Sandjet to have results come out along with drilling?
So would that mean that all going well predator could or should be first into production?
Would it mean that Chariot will have to give a chunk of equity away for the finance?
I am only trying to assess things of course from a basic view point.
We are all here to make money in an honourable way.
The main concern is always the things out of your control.
Ford,
I expect anchois to be in production in about 2.5 years, which I expect will be fully financed by energean
So far with predator it takes nearly three years to perform a flow test since mou 1 and even then i expect a successful flow test will be followed by a period of 12 to 18 months to get a production concession from the government.
It’s now more than three months since the application to extend stage 1 of the licence, it should have been awarded by now, I hope there is not a problem
Jimmy
Assuming prd do not have anymore holds up in terms of equipment/rigs and things getting through beyond their control of course.
And in terms of potential time scales of production from Chariot as apposed to prd would be what Jimmy?