RE: First asset sale19 Mar 2025 15:21
LWHL - You say: "What really caught my attention though was this paragraph in the MET1 RNS: 'According to management accounting information provided by 80M, in excess of €3.8 million (£3.2 million) has been spent historically by 80M on drilling and exploration activities at Hammaslahti.'"
For completion's sake, the MET1 RNS also said this (which you have missed quoting): " According to management accounting information, close to €2.5 million (£2.1 million) has been spent historically by 80M on exploration activities at Outokumpu."
In your reply to CC, you then went on to say "It is surely a point of consideration, even if it relates to historical expenditure."
Fair point about historical expenditure being a valid point of consideration. In that case, I would like to bring this statement to your attention:
"The Jameson Land Basin is one of, if not the last, highly prospective, yet completely undrilled basins globally, but with a clear genetic link to the North Sea as well as a scale similar to many of the world's major producing regions. This claim is not without foundation, Bluejay will leverage its acquisition of a comprehensive body of work conducted by US Atlantic Richfield Company (ARCO) between 1970 and 1990 when more than US$100m was invested (1989 US dollars) in detailed exploration and evaluation activities. ARCO's work identified multiple, very large gas and liquid hydrocarbon targets." - RNS 20 June 2024
It's a shame that you did not point out the US$100m (1989 US dollars) historical expenditure as a sufficiently valid point of consideration when Jameson Land was acquired. You are right, though, when you say "..the value lies in the actual information, not how it is presented. That goes for all chat boards, not specific to this name."
I would like to see people who claim to see more balanced posts practice what they preach.
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