Member Info for ademcg

It certainly is a slow burner isn't it.

I was a long time watcher (PMO days) and only took the plunge 2023, when the wintershall dea deal was completed, as I felt then that this was a watershed moment and .,.....well.....it really has been a roller coaster of a ride, from the dizzying highs of 330p and the dark depts of the mid 140's.

The latter is where I doubled down on my investment to bring my average down (currently we are sat right on my average) and when combined with two years of Dividends, I guess I am up overall, but it does feel like a long old slog.

And if you do zoom out on the share price graph, it certainly looks to be still in a downtrend.

It does make me wonder if it is all worth it at times.

@BigMinnow, which is why you ought to lease that depreciating liability.

Edit (I wish there were an edit button on this forum)...

The below £1200 for 10,000 miles was from my own usage but the vehicle was able to achieve 55 mpg (motorway and cruse control) if you can only manage mid 30's mpg then your fuel bill annually for 10,000 miles is actually more like £1,800 ...so yeah, even more in favour of the EV

I do wish the Daily Fail musings were kept to a minimum.

But seeing how its been posted, lest look at it.

On a very average of 10,000 miles, annually, if this "tax" were to be introduces, then this would equate to a new £300 tax per annum for an average EV user, which is not great.

However, generally with an EV and home charging, those same 10,000 miles can be covered using around £115 worth of home charging, using a cheap overnight electricity tariff (7p / kWh).

Put this against an ICE equivalent vehicle (say mid 30's mpg efficiency) where you could be looking at over £100 / month in Petrol costs for those same 10,000 miles would equate to an annual petrol bill of £1,200.

So even taking into account the "new" (lets wait and see) EV tax, it is still more cost effective to run an EV than an ICE vehicle.

Well, we are mid morning and its holding well, currently 234.55 to sell, a modest rise in any book. Pushing that 200d simple moving average (currently at 239p) interesting.

Other than Net Debt, slightly higher than your expectations ($4.2B) vs your figure below $3.8B, the free cash flow is confirmed $1.0B its all in line with expectations.

Fingers crossed that it is not a case of "buy the rumour and sell the fact", may be tempered by the potential for a North Sea Levey change come 26th November (only 3 weeks away) !

Key will be, what surprise ( good or bad) could come from the update on the 6th November .

If they confirm FCF is on track ( following on from previous communication) then it only confirms what we already knew, so it's difficult to see much in the way of a material uplift in the SP, but I guess we only have 1 week to find out.

The levy adjustment or abolishing or replacing of, is beyond our insight so it's a gamble. You hold, sell buy at your own risk.

Needless to say often the person who does nothing, often outperforms those who think they have an edge or insight , so I guess sit tight and wait for the picture to be painted for us and see where it takes us.

A long winded way of saying no predictions from me 🙂 😊

Link Jimmy please 🙏

SQZ up 5% too perhaps it is North Sea related news ?

Nice link Ducati

Mayne this bit mean early end, not i 2029 but as soon as now or 2026?

From the article:

"Under current rules, ministers can remove the levy once oil and gas prices fall below $71.40 a barrel and 54 pence per therm for at least six months. While gas prices remain higher than their pre-crisis levels, Brent crude has traded below $70 for much of 2025, potentially triggering the conditions for the levy’s withdrawal."

On a sensible note, other than the operational update on the 6th are we due any other RNS / event?

Haha we all wish 🤞 😄

Cev, forgive any spelling or formatting issues currently on my hospital bed recovering from knee surgery and waiting for the Fentanyl to fade 🙃 but I did enjoy the content of this morning's RNS

Well, He wants to shoot for and focus on the " Holy grail " SPONGE metal Ti, e.g. the highest marg8n product and thisnraise will allow funds to be available to expedite that. Fabulous news 👌

Interesting how HBR SP has rebounded and is up by more ( as a percentage) than similar oil plays, ( Shell & BP) 9nly 9ver 5ge last few sessions.

I guess we fell a higher percentage from our 300p level too.

HI Muck165, I recall reading many articles, similar to this but more general, e.g. not focused on Empire.

The interesting bit:

"Empire Metals (LON: EEE OTCQB: EPMLF) is accelerating the economic development of its flagship Pitfield project, a world-class, district-scale titanium mineral system in Western Australia, which extends over 40km x 8km x 5km deep making it the largest known titanium discovery in the world.

The company’s initial focus is on two key prospects, Cosgrove and Thomas, which have been identified as having thick, high-grade, near-surface, bedded TiO₂ mineralisation, each being over 7km in strike length.

A JORC Exploration Target* for Pitfield was declared in 2024, covering the two initial prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.

*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.

Preliminary testwork has delivered a high-purity TiO2 product, which assayed at 99.25% TiO2 and was clean of deleterious impurities, providing strong potential for its use in high-quality titanium sponge metal or high-grade titanium dioxide pigment production"

Well the MRE certainly put the "conceptual nature" bit to bed once and for all and a JORC classification with a good chuck (697 Million T) are already in the "INDICATED" category and with a soon to be initiated drilling campaign, more positives will shortly follow with an increase in quantity (tonnage) and some upgraded to "MEASURED" category....it really doesn't get much better !

Hi Cev....ahaha...it looks like my Korean phone had defaulted to the US spelling of the English word defence 😅

Although, let's be clear, Titanium is not a rare earth metal. However, it is critical for defense and tech applications, anything from aircraft to solar panels.

The difficulty in extracting Titanium from its "ores" is usually why it is classified as a specialty metal.

Now, if you found a lot of this stuff at surface, which was easy to extract and at a low cost, that is where the focus may come from...if only there were such a find recently....hmmm  

@carpatthis, I remember Cove Energy...It was on my watch list, relentless downward pressure them it turned and never looked back until Shell tried to go toe to toe with a national and lost out....the price went from low 80's to over 260p....and most of that rise went on with no RNS, no news, it was just day after day of sp appreciation until the news dropped.

Ahh...we can dream :)

Hey TF (same ID on CV ? ;) ) Lets hope so !