Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"In short, this current fund raise from sources in Botswana is by no means going to be easy to arrange". BOTS 28th Feb 2024
Absolutely brilliant xD
Here he comes ..... walking down the street. Spewing his usual tripe.
Sorry everybody for the next 50 useless messages ahead from him and me.
He also doesn't know how a simple bond works, if you are new look through his posting history if you fancy a laugh..
It's BOTs winnie, don't forget despite his substantial knowledge of everything Botswana he unfortunately said this less than a month before the Botswana Pension Fund trebled their holding and took up 10x their original entitlement in the raising: "In short, this current fund raise from sources in Botswana is by no means going to be easy to arrange".
Hi Winni, I guess you're replying to the narcissist?
I know it might not be something you normally do but just filter him, he is just a resentful stalker that doesn't want to see the company progress.
Do you feel better Winni after that wee rant.....
Makes me laugh every time I read what you and others here tell me what I think, what I think I am, what I dont know, .... And every time I spout my 'same nonsense', there is always somebody here to gladly tell me back How wrong I am, How little I know, How much time I waste sharing my views here as to why Botswana just doesnt work, what are potential reasons why Tlou isnt making the success of its opportunity that it so articulately expressed many large red African sunsets ago,
Keep it up lads; you would be bored and lonely and have so much free time to fill if I wasnt here for you ......
as we know the ******* donkey spends all his time trying to find ways to talk down tlou .. whether it be timescales , failing to understand how botswana works , how slow and corrupt botswana government officials are. lack of gas information , lack of information on the gas component’s( whether it will burn properly) lack of funding, whether there is actually any gas there at all … they won’t make any money selling to the bpc bla bla bla …the list is endless .. my question to him is what the **** is wrong with you and why have you made it your life’s work to waste all this time telling people who have never listened to anything you have had to say? and the most perverse thing is is you think your a cut above the average joe.. i hate to be the bearer of bad news you are not … no one with even the remotest ounce of intelligence would spend all the their time year after year spouting the same nonsense
I think donks totally got the name of the game wrong .. you don’t spend 10 years + and millions of dollars to set up an industry that will give Botswana a leg up the power supply export business .. and then sell yourself short in Terms of revenues .. why would you do that ! Tlou is a commercial business not a charity for the Botswana electricity benevolent fund ..FFS they need the power as much Tlou need to sell it .. All the government noise about small cost is a smoke screen to save face they will be paying more than the Donk would like to think .. as they have no choice . It’s either buy it in country or pay more from others countries as simple as that!
Not sure I agree with you Donks re BPC pricing. Currently BPC are buying from Mozambique at over 40c and TLOU original PPA was around 10c I think, so TG definitely has wiggle room to charge BPC more even if he doesn't have full control.
Keep living inside your head Brad. Are you not bored filtering, unfiltering, commenting, filtering, unfiltering, commenting, filtering, unfiltering, commenting. Is obvious you cannot resist me. Tbh, i wish you would stick to posting facts since once you go off on one of your long ramblings ....about what you think you know or understand, usually ends up going round in circles with no real beginning or end.
But then i guess posting here about what you think you know about Botswana, Tlou, Sekaname, CBM, Eric Molale (ps i sent you that link, so trust me I am well qualified to know what he said, where he said it, and what it means), and posting about your life history is your sort of therapy. Just as it is trying to criticise me and my views and opinions. You could learn so much here,,,,,,if only you could step back and open your mind to receiving. Rather than blethering.
This board is so quiet I took a peek at BOTS post to see what gems he has to offer.
Eric Molale gave us a speel years ago in which he said CBM powered ELECTRICITY was the way to go, as long as it is AFFORDABLE?
That does not sound to be like the price is non-negotiable.
And TG said there was room above $12 (Aussie estimated prices) and $30 (imported diesel powered electricity) for TLOU to do better than OZ and for Botswana to do better too!
Of course BPC cannot dictate what we get! They can refuse to pay our price and if they do that how can they stop us selling to someone else?
They would not adopt the poles and wires of course - but they'd negotiate settlement for the outlay TLOU had on them within the price the agree? That increases the price because they are repaying TLOU for providingthe line.
If we sell to SAPP I guess we'll have to swallow the cost of production and maintenance ourselves - and that will push our price up anyway?
I think that was where my price of $18 came from? $12 as a base plus line costs either way plus a bit? $18 - $30 looks likely to me. UNLESS $30 for diesel power has been blown up or down by Putin. The only way is up imho.
If BPC can name their price - I'll be totally amazed - and canned gas is still in Donkeys' head - we and Sekaname dumped those ideas yonks ago? Is he always as polite about me? Filtering agrees with him! Pipeline to Orapa is the nearest to canned gas we'll get!!! And has been for years! Canned Hydrogen maybe one day? Not gas!
Olda - a possible mistake you are making is thinking that TG has control over the price he sells electricity to BPC. It needs to be remembered that Tlou and Sekaname have 2 small scale pilot projects which are meant to demonstrate to the 'clevers' at BPC / Ministry / Govt the proof of concept works. And maybe (note I say maybe) thereafter, once the doubters sorry I meant doubters are finally persuaded, then maybe just maybe there will be scope for CBM gas to power generation projects to finally take off in Botswana.
But the price BPC will pay will likely be at or near rock bottom levels.
The higher margin business for Tlou will be selling its gas to CNG or LNG or many of the plethora of other uses the gas can be put to. Power generation is the worst business from a margin persepctive for Tlou - but it does underpin volume.
TG and management team all know this; will be great once Brad finally figures this part of the equation out.
ASX up to 4.4c at close , looking good! 2.286p equivalent. The 1.8p 3.5c shares only have influence for 19 days and the mystery continues where those 169M are going?
Not TLOU's finest hour imho - it should be clearer who is going to prosper from a significant price drop that we never seem to get? Timings on options are so unfortunate for us minnows it seems. That misfortune guarantee we cannot hedge against dilution like the chosen few can.
I don't know what prompted your post Olda but Sekaname wanted to get into bed with BPC lock, stock and barrel. 90Mw+ was going to be a lengthy commitment.
TG wanted a couple of Mw i.e. the minimum commitment , for the reasons you give.
How we ended up at 10Mw I don't know (and Seka at 6Mw) unless it is connected to the Pension Fund participation in the latest placings? Govt influence upon them is another question mark for me.
TG has plenty room to play around with the extra 15Mw the tx lines can take. And 10Mw is 40Mw less than the original 50Mw each expectations. Remember it was only 100Mw because Kalahari threatened to withdraw at the Request For Proposal stage unless they were awarded a substantial contract by BPC/Govt. I am still convinced that was to attract the funds they did not have! A carrot for the Donkeys of this world.
TG just wanted proof of concept at the lowest price commitment because he chose Botswana expected ever increasing prices across Southern Africa. And he was right - due to Putin and his desire to go down in history with Caligula and Hitler and the price of diesel.
....sell our electricity to anyone at less than best price? The only possible answer is that to get this far Tony has made certain commitments I think. Beyond satisfying any such initially, I am confident he will only sell for best price. So my belief is to hold on because we first have to fulfil those commitments before any jam accrues. That may well only happen in the longer term.
BPC is insolvent and has been for many years; totally dependent on Govt financial support. Electricity tariffs in Botswana have traditionally been low, almost free to local population, which started at independence and never increased given Aids epidemic near devastated the country. There has been a couple of price rises pre-covid and with elections in October, next price rise will be well into next year.
Sourcing electricity elsewhere is more a matter of who has got it to sell.
Eskom was selling significant quantities to Botswana for many years, yet SA was often plunged in darkness with rolling balckouts. Why would you sell to a neighbour when your own family is going short? Simple, selling was a source of revenue to the SA /ANC govt, who all have their noses in the various troughs.
You mention 10, 20 and 30. I cannot comment because these are just numbers thrown out there with no context against which to make meaningful comparison.
As for TG comment, I well know he came to Botswana with good intentions and wanting to replicate a successful strategy again. And he sold many people, including us all here, that vision or dream. He has had to learn the hard way that what he thought then would be relatively straight forward business venture has turned into something he never would have dreamed of. And the same for all of us and anyone else involved in CBM in Bots.
So i suggest you drop the criticism of me being a constant skeptic. I think I have been more than vindicated taking that approach, however grudgingly folks here might wish to admit.
Reading between the lines - it looks like Botswana is being reported as being stingy with domestic electricity suppliers? And as usual BPC is claimed to be poor at keeping the books straight?
I think this is understandable given the unreliable supplies they get from Moripule.
To make up the missing supplies they have to go outside and offer competitive rates to other countries (many of whom are short of power themselves). The ones that are dependable are presumably given priority when it comes to paying up?
I might be using the rose coloured specs I have had since reading that TG said he expected to receive payments in Australia of $10 to $12 in a competitve market - whereas Botswana were paying $30 back in mid 2010's!
He thought there was room to undercut $30 and improve on australian rates!!!
If that is true BPC will be happy to pay us for a dependable supply?
Itis up to us to do that imho! and do I think TG is capable of doing that?
I think you all know what I think on that! And what the sceptic will say!
Solar and natural gas power are our starter for 10Mw - hydrogen and additional power in time may make Botswana self sufficient and independent. Indeed we might end up exporting to South Africa instead of BPC buying from Eskom? Quite a turn round?
The once-affluent middle class fleeing Zimbabwe’s wrecked economy
Professionals are leaving their homeland in droves, with the country’s collapse driving thousands into Britain’s workforce
Scary article re Zimbabwe in Times today. Not that any of this is new; just that it reminds how a glorious country can be destroyed by ethnic politics and greedy rulers.
Personal view on corruption in Bots. It is relatively small economy and where Diamonds are main source of Govt revenue. These are mined and exported with, thus far, very little value add work performed in-country by Debswana. Current regime has been trying to change that model over last 4 years, with some success. However the way to disguise / circumvent revenue leakage is for payments to be made to select individuals offshore.
Copper is the next biggest revenue earner by export - but a very distant 2nd behind diamonds. Ignore for now.
Botswana basically has to import pretty much everything needed for domestic consumption. Key drivers there are Energy & Fuel, Food, Transportation vehicles, construction materials, ... Easy for the offshore suppliers (like Eskom for electricity) to negotiate with Govt/Ministry officials for a kickback, since they are selling to Govt parastatals like BPC and such like.
All this has been going on in Botswana for many years; the real scandal will be if it ever comes out that these kickbacks have mainly been routed to the Founding Father family members. This more than anything else I can think of, is what has held the development of Botswana back over the past 20 years. There is a reason the previous President is declared a fugitive in Botswana and why he has been living in SA for past 3 years. And he apparently is in process of moving to eSwatini (is Ramaphosa in the process of moving this problem to someone else ).
Follow it on FB on France Museveni Leaks. Entertaining read, even if only part true in places.
Botswana Gazette newspaper - out today
Interesting, and has positives and negatives for us. Can you specify your source regarding the price that the Gov and BPC are specifying from home generated power? Not necessarily doubting you are correct, but would like to see it backed up.
Also I'd say regarding your last paragraph;
You're at least partially stating this based on the guesswork about bungs. It's a bit of a leap.
Levels of corruption are obviously relative, I don't think anyone would be foolish enough to think they're squeaky clean. They are in the same league as Spain, better than Italy and significantly better than Greece, according to the useful link below which splits it into continents.
https://tradingeconomics.com/country-list/corruption-rank?continent=asia
Admitedly have only included some extracts from the article below:
"Startling revelations regarding Bots energy landscape have surfaced in recent report titles "Electricity Generation & Distribution Stats Brief". The report underscores a significant shift in the nation's reliance on imported electricity. Zambia is principal supplier of imports at 43 percent; SA Eskom 22percent; Moambique 12; SAPP 11; Namibia 9; Cross-Border Electricity Markets (never heard of them before) 4. Conversely, local electricity generation plummeted from 808k MWHin 4th quarter 2022 to 654k MWH 4th Qtr 2023 with downturn due to (yet again) operational challenges at Morupule B power station (this built by Chinese and has never worked properly - and likely never will). Morupule A and B accounted for 90 percent local generation, Matshelagabedi and Orapa plants 6 percent and 4 percent respectively.
What I know is - Govt/ Ministry & BPC tell all Independent Power Producers wanting to set up and sell in Botswana is they must sell at sustainable (and therefore low ) prices. This price is about one quarter to one third of the price that BPC and therefore Govt has to pay for the imported electricity - so the obvious question has always been (to me anyways) Why has BPC and Govt had the handbrake always over CBM power generation, and even solar generation.
This is the conundrum that has never ever made sense regarding Tlou and CBM and the Govt parties - why go so slowly in developing a potentially very significant source of local power?
The only answer I can come up with is that the BPC contracts to source from external countries / providers must include some element of kickback to somebody, which is paid to bank accounts outside the country. And until these arrangements are made visible etc, then everything continues broadly as is. And this, as much as anything else, is going to hamper Tlou's ability to scale up power generation to significant quantities of MWs.
And all these surveys saying Bots is great for Governance, law and order, low corruption, blah blah ...... are basically fit for the toilet.
Given where the price is, vs where it was, I'm not sure that ignition is the right word, maybe a small fart, will need to go further to reach ignition
Absolutely Brad. The only surprise is it has taken this long to finally ignite.
Both major markets look to be rising for TLOU.
Ignition is on, and blast off is getting closer?