Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Bargain deal for ECO.
Please correct if wrong.
My calculation is that WTE had 5,661,270 shares in JHI x 1.1994 = 6,790,127 new ECO shares.
WTE also held 1,500,000 ECO shares.
Total = 8,290,127 shares x £0.29p = £2,404,137 market value. (about 1.67p per WTE share).
Estimated fair value in accounts at 30/06/21 for ECO shares + JHI shares = £9,884,072 + £433,000 = £10,317,572
WTE also has exposure to Kaieteur, which ECO/JHI does not. Kaieteur drilling decision is expected next week and the CPR for that block looks excellent with some large very high COS targets. If we get a discovery near Tanager then the 65 MMB discovered there may also come back into play.
It should be noted that this massively increases WTE's stake in ECO from 1.5M shares to roughly 10.5M. This means we now have much greater exposure to ECO's upcoming Gazania-1 drill in Q3 as well as the Orinduik and South Africa 3B/4B drills which look scheduled for 2023.
With a huge drilling line up and a super low SP, this looks an excellent entry point ahead of drilling. GLA
Friday's late reported trades (sells) are notable.
I'll take that comment back.
The 1.1994 conversion does not add up well for WTE as far as I can calculate - in fact, quite badly.
I would rather it be 15p per share I paid
Well this takes the decision of whether to be in ECO or WTE away from me.
I had wanted to increase my exposure to ECOs South Africa/Namibia blocks, so works out well for me.
WTE's share price had lost out and declined with ECOs developments in Africa and investors switching from WTE to holding ECO; that value gap should now be closed with this deal as WTE now effectively holds ECO shares. Hopefully WTE will be back to 8p+ very soon.
RNS from WTE should explain more. I think they will be pleased with today's news.
https://oilnow.gy/featured/exxon-epa-could-have-agreement-in-place-by-month-end-for-us2b-environmental-assurance/
Once this is in place I expect we'll get the full green light from the EPA for the 24 well campaign across Kaieteur and Canje. Ties in perfectly with the expected drilling announcement.
https://www.bnamericas.com/en/news/guyana-suriname-basin-upstream-watch
its more or less the same, will try a better link, that was sent to me as is.
the important thing is it looks like were gonna get a drilling decision, by the israeli regulation the chosen prospect will have to be followed by a detailed cpr so well see if the latest cpr is enough or well get more info rns'd.
Hi Harel - Not able to use your link. Is the content available from EPA website?
Have seen the following today which outlines 2022 as the start of the new drilling campaign on Kaieteur.
https://www.epaguyana.org/epa/component/jdownloads/download/29-screening/947-kaieteur-12-well-e-a-screening-report?Itemid=418
thanks,
Celtics.
Drilling expected to begin in the 4th quarter this year. According to one of the docs on epa website.
My bad,
The table on page 20 marks 3.2022 as the beginning of the campaign and not 2023, so that means the drilling decision is the beginning of the campaign by this table.
Will know more in two weeks.
New kaieteur application, a lot of info..
https://mail.google.com/mail/u/0/s/?view=att&th=17f68e3d6170a094&attid=0.1&disp=attd&realattid=17f68e4294f278bd2931&safe=1&zw
Will be by the 21.3.22, but its not going to be what we are looking for, another delay in the drilling decision and drilling delayed to Q2 2023.
Only two weeks now. Looks like WTE may have exposure to up to 8 drills over the next 12 to 18 months, 1 on 2B, 1 on Kaieteur, 2-3 on Canje, 1 on Orinduik, 1 on 3B/4B and possibly 1 on Kanuku to start with. SP is almost at the lowest since WTE entered Guyana and oil is at $125 a barrel. Amazing bargain.
Three weeks to go until the update. Time moves slowly when you are waiting for something. Hopefully it won't be pushed back again, to allow more data to be analysed, as Exxon are always drilling in the wider area.
This chat room needs sub-titles.........
donmac, you are a true reader of the tea leaves...
Suprise is coming shortly ?????
Ah noh whos gonny get the booby prize at the end of the day.and it isnae gonny be me yah tadger......
So speaks the font of nae knowledge yer a fraud an a hiv yeh sussed.
Kiech means schiesse in scots
Actually i dont as this is westmounts board and you my klien tumchie should stick tae eco 's board dae yeh get mah drift cos i have you sussed as full of kiech.wie stehen.