Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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You negativity is incredible. I’m fairly sure you have sold out otherwise you are a clueless investor if you invest in something where you think the company is constantly doing badly.
Sorry Kroky,
my error. Should have been $15m capex for the MX-119, the fracking and part prepayment SV54. That was at the interims cash of $62m down from $67m.
Possibly more Capex now as $62m down to $60m - best of SV-54 prepay?
The drop in flow rate is ~300-400bopd since new year
3,889 Q3 2019
4,073 Q2 2019
4,306 Q1 2019
4,139 Q4 2018
but replenished by MX-119 1070. No idea how much time MX-120 been off but flow from that obviously aiming for more post frack/work-over.
15mn for a 4.8 km gas well with ca 150 mcm daily gas production is way too high, economics of this well is not good
The numbers are still good despite our spend although they should have pointed this out in the RNS that this is where the money went.
Even so, still a huge amount of cash in the bank and gas prices are increasing, plus here comes winter
Umair @u_mamsa
Oct 10
Spoke to the Group FD about this after interim results were out. Due to payment of capex of c.$15m for MX-119 well, the hydraulic fracturing of 120 and prepayment of part of SV-54 drilling costs
So $15m MX-119, fracking ~$1-2m and |~$5m SV-54?
Numbers add up lie that.
Seems that they spent ca $10 mn on the latest well, I think this is the reason for cash decrease
Their production before the well dropped so that the new well just replaced it
So we started the year with 53 mn cash. nine months later we only have 60 mn in cash, pretty much the same production and much lower gas prices
Not good
Cash building?? June cash was $67m and now down to $60m. Needs some explaining i think. I still hold
No indication of if there looking for aquisitions or how intend use the cash which is disappointing.
Good update there, cash continues to build and drilling going well.
Suspension could be lifted at any time should give a boost but they see not reason it wont be.
Buy and hold at these prices