Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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IMHO the "take over" talk is just noise untill there's at least one major shareholder with a share number sufficient for making a credible or forced buyout. What price would PB even recommend would be enough?
Luckily we have a zillion PI's and no real majors.
Getting 30 - 35% is fortunately a complete nightmare for anyone. The increase in SP will just be massive. Only option for a major shareholder to get a decent bite (IMO) if we're getting bad results on several drillings.
Who in their right mind would sell before we even have Royston tested? Of course some short sighted people will - but once they're shaken from the tree, would you have more than 15% as a fresh major shareholder pre-Royston? I srsly doubt that. And what would that even mean for the SP? 5£? 10£? So - it's just noise so far IMHO.
Based on the presentation/interviews with PB at the conference on the 14th & subsequent Q&A on the 19th, by the end of 2022 (likely starting late 2021/early 2022), drilling plans call for the following:
- Cascadura - 4 to 8 development wells including the drilling of 2nd well targeting Cascadura Deep which was shelved in the 1st exploratory well due to rig limitations
- Chinook - 4 to 8 development wells
Activity during 2021 starting with the Royston well spudding sometime in April also includes drilling of Steelhead well. Unclear as to timing of Kraken Prospect. With oil prices improving, re-start of drilling on legacy lands likely this year as well.
Not to mention the 15 to 20 exploration prospects remaining on the rest of the Ortoire Block . As PB mentioned, there is a 10 year exploration/exploitation agenda here...reasons enough to staff up with technical people.
When this gets to £5.00 a share I will go and paint it gold
So size does matter, bigger is better, depending on your point of view.
If a 20 inch pipe at Cascadura can handle 250m MCFPD, then Coho which is only a spur to a local processor, carrying 10m MCFPD max only, needs to be 4 inches in theory.
But no doubt they are using something a little bigger.
Though for a precious $500,000 a month of cashflow it psychologically feels like that pipe should be visually much bigger given its impact on the companies finances.
That pipe doesn't look big enough
Thanks all for the update. I’ve been so busy recently that I am checking updates on here and FB less frequently. I must get. back into my TXP routine.
https://www.facebook.com/TouchstoneExploration/photos/a.628702010575548/3472831806162540/
Latest so far and getting there.
I would like to see an RNS as well, but it doesn’t look like we will get one. Paul seems to consider “normal” business progress as normal, and not materially affecting the value of the company, so not worthy of RNS. That the pipeline is coming was already communicated. He doesn’t RNS spudding of wells either like some other companies do.
I want to see a picture of a big ditch with a long pipe getting lowered into it. This might also invite a bunch of green peace idiots to chains themselves together in the ditch, so at the same time, not the best thing to post on Twitter in our new world where Mr. Potato Head toy is now only Potato Head to remain gender neutral. Sometimes you just don’t have words.
https://www.google.no/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwju16HW4YnvAhVpkIsKHcT9D1MQFjAMegQIJBAD&url=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fworld-us-canada-56200811&usg=AOvVaw22N-sRoNeW-uaQcZJ5-3l-
Construction started 15th, as per Facebook post from Touchstone and Primera. Also a confirmation of progress where Txp postet a picture of the skid a few days ago
I'd like to think that if we have started the pipe line we would have got an RNS stating so. It is rather a big deal after all. As we haven't had that RNS, does anybody have any knowledge on the matter? Has the pipe line started or not?
What about testing? Not sure a RNS would be issued to state that the testing had commenced, but does anybody know if that is happening?