Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Things starting to hot up very soon. FUD spreaders now having posts removed calling them out. Diddums. 😩
It was a tongue in cheek remark about the Lira. At the end of the day it states at the bottom of the RNS that the Italians don’t like to pay their bills. I understand that RKH have sold the debt
on. Once you get the Lira in the bank account you can all start slapping each other on the back, up to that point it’s all words.
Finally, I don’t remember what RKH paid for Mog, but it wasn’t a lot, so it will be interesting to
see if you come out of it financially in front.
To be fair RKH hasn’t been a good investment up to now, the management are clowns.
They should of sold to Anardako, the yank outfit sniffing around back in the day.
Problem with these posh city CEO’s they ain’t street smart.
Something to think about
And it will be paid in Euro's , Lira is in the distant past , c'mon , keep up.
''Gut feeling it will all end in tears, and no Lire will ever cross hands''
-----------------------------
Keep up old chap.
The award has been sold on, monetised for many 10's of €millions, subject to FIG snail pace sloth approval.
The Italians are renowned for their dodgy attitude to compliance with unfavourable regulations, so RKH, K&S and Harbour were more than well aware of what they were dealing with, when they initiated this in 2017.
K&S are considered one of the very best in their field in the World and Harbour will want their investment returned with serious interest.
K&S must already have lined up suitable candidates for enforcement seizure once the ad hoc committee has announced its decision.
So I think your comparison is not a good one.
I was invested in Mediterranean oil and gas back in the day. I remember mog trying to get some money out of the Italians back then must be 10 years ago. I still see that the Italians are
hanging out the payment and process.
Gut feeling it will all end in tears, and no Lire will ever cross hands,
Just having a look at Navitas's end of year accounts and noted
'Navitas Petroleum Development and Production Ltd NPDP ~ has past investments in the (Sea Lion) Oil Asset for tax
purposes in the total amount of approx. USD 700 million, that can be utilized
in the future against a taxable income from the Oil Asset.'
So presumably just royalties to pay for the first 12.5m bbls produced.
12p is a great "price" for the BED to ISA trade.
This share has "no" price until first oil. Market has disregarded the positive news flow of the past 2+ years.
Nice to see the Navitas staff? helping themselves to restricted stock units on 31/3
Patience
Has anyone got any idea of when the April hearing is? I seem to recall due to illness the hearing was pushed back to April, but cannot recall a new date being mentioned!
Seems like everything is waiting until after the 5th of April !
LTT
I can't blame anyone for locking in some profit, even selling at 12.5p would give a 30%+ profit and for warrants that cannot be held in an ISA with the new CGT allowance cut to £6k this year and then to £3k next year it makes sense. A lot of people selling after April the 5th would be hammered for 20% tax on any profit over £3k.
I know at this moment in time, many are underwater with their holdings, but even so, if you believe in the company and that there is much more happening than there appears to be, it could be worth selling, even at a loss, (thus having a loss to claim against future CGT) and putting the lot in an ISA. You can stick in £20k before the 5th of April and another £20k from the 6th April.
However please note, this is not meant to be financial advice, as anyone who did the above, if Navitas walked away and RKH ceased to be, you would lose the lot and receive no allowance for the loss (hence the rules of an ISA, you keep all the capital gains, but you have to take any loss on the chin).
It just depends what you believe the future holds for RKH, for the record, I now have all my RKH shares in ISA's, if I have the funds I would be taking up this and next years allowance also, but it's probably for the best that I don't. LOL.
LTT
Appears bit of a sell off today but probably due to tax reasons more than anything else.
Sorry meant $14M in 2022 and $22M in 2023. Now where is that EIS and an update!
Happy Easter everyone. LTT
Thanks for the link pre2rcd, seems Navitas are spending, $14m in 2023, now $22m. so $36m in the past 2 years, would love to know what they have spent the cash on!
"The Partnership operates in a number of levels to promote the development of the project, including:
A. Formulating the financing plan for the project, which may include, among other things, financing by way of issuance of debentures, bank financing and oil traders financing.
B. Receipt of regulatory approvals for the revised development plan from the government of the Falkland Islands.
C. Identifying, negotiating and reaching agreements in connection with the ordering of significant long lead equipment, including the project’s floating production storage and offloading (FPSO) facility, and the supply and installation of underwater equipment.
D. Assessing the option of introducing another partner to the project, before or after the date on which the final investment decision (FID) is made."
LTT
Navitas 23 results out but very much an auditor report, no real new information
https://navitaspet.com/wp-content/uploads/2024/03/Navitas-annual-FS-2023_eng.pdf
RKH makes all-share offer for BP. Pundits agree it's a great deal for a beleagured BP - SP due to rocket on Tuesday, while RKH SP rise predicted to be moderate,
Premier had put out an environmental impact study if I am not wrong. There was a discussion around it and it was approved. Now that the project has a new operator the go-ahead from FIG needs a new EIS. But I don't think that the specifics around that study have changed. The geography remains the same, other elements will be broadly similar to the Premier study that was approved.
It might just be a question of copy-pasting the Premier environmental study with a few edits. No big deal
Wouldn't that be the Tel Aviv SE equivalent of an RNS ?
An RNS from Navitas to reiterate 2024 FID will reassure many.
Patience
One thing you understand clicking the link to FIG EIS pages, is they are epic documents 400+ pages long! No wonder it’s taking a bit of time, plus it’s not a EIS for drilling as the ones already there, it will be an EIS for drilling, connecting subsea equipment and an FPSO over a 15 year+ timeframe. Also I presume they will need to put in the FPSO they will be using to show oil many barrels per day they will pump, which in turn will indicate how many tankers are referring backwards and forwards into Falklands waters. It will all need to be in there.
It will be some interesting ready when it’s submitted that’s for sure.
LTT
This confirms the 42 day public consultation requirement.
https://www.falklands.gov.fk/mineralresources/regulatory/environment/public-documents
So the EIS should be highly visible. No sign of the public consultation yet.
https://www.falklands.gov.fk/policy/consultations
I was told at beginning of year that the EIS would be submitted in Feb/March, after which there would be a 42 day period for public consultation.
In terms of when an announcement would be released it would be if and when it was adopted by FIG.
I wouldn't have thought that the submission of an EIS was a event which merited any public announcement by the operator, never mind a minor JV partner. It's meat and two veg work for the project team, as part of the project plan. Approval of the EIS might be newsworthy but that was never expected in 1Q24
"2024 FID for 2026 first oil still looks good"
Possibly, but wasn't EIS supposed to be in Q1 2024? There isn't much of that left.
Anybody know if EIS been submitted yet, sure I was somewhere they expected to submit this first quarter.