Member Info for Adw198

Hi Reggie, could you outline where the 26% has come from, I’m struggling to get my head around it? Is it not the case that they pay the initial $50m and then 51% of the remaining costs? Or are you saying their entire contribution is the $50m?

Hi Tardis - could you explain how you’ve got the 26% figure, haven’t the new partner committed to 51% of the cost (plus their initial $50m? cheers

Hi Oilheadgame, not sure if you’re invested here but if so it must be miles better than you realised.
Whereas you’ve claimed the “feasibility report finance is what $2 something, and we are at $4
so any banks will median that price to $3 at tops”, infact the feasibility study was done at $3.30 and the current price is around $4.60. Taking your own mid point that’s $3.95.

From the RNS…
“The BKM Feasibility Study LOM key metrics are highlighted in Table 1 below. All dollars are US dollars. The following economic assumptions were utilised:

· a long term copper price of $3.30/lb”

Hi Completelynes, I think it’s a fair question. I think the answer is in a depressed copper market nobody fancied the deal. With Copper where it is now and with the resource expanding I strongly suspect a deal will be done shortly

I guess the same logic that you’ve applied to wanting to sell Beutong would be the reason people may want the company to be bought out? I’d prefer a deal that took the time and stress out of both areas but retained a stake and % of the potential upside, not sure how viable that is tho!
Looking forward to the next few months, I thought Tony seemed very relaxed/confident.

Hi Echo, that’s quite a turnaround from the first post wishing you could top up at these prices to wanting to sell out and buy back lower?!

I suspect the first rerate will come when the funding is clear - which he seemed to suggest would be before the end of the year. Hopefully anticipation of the same will pick it up from these levels in the interim.

It seems AG / DD only signed the NDAs after buying in so that’s relatively early days - altho equally quite a vote of confidence to buy in before accessing all the data. Things might be a little slower than we may have preferred but it does have an air of really positive inevitably to it. I was slightly surprised he wasn’t a bit more effusive about the current / ongoing drilling results and the potential impact.

The current SP appears to have a very solid base so I’m pretty confident.

With a nice title!

https://m.youtube.com/watch?v=cdPLhsGmwnc

Gotcha - and it was a very valid point. I’m newly invested here and had omitted that from my thinking.

Apologies if this has already been covered but I’ve just listened to an old interview with TM which helped me figure out in technicolour what’s happening here.

https://m.youtube.com/watch?v=VkY0xSQSUHo&t=2017s

At 40.43m confirms there are 2 parties they’re in meaningful discussions with and 1 of the models being explored is a partner taking the majority interest and being the operator.

At 44m 13 he outlines the Aeturnum Energy holding will be sold as a block trade “as part of the solution in terms of the partnering”.

Earlier on in the piece he confirms they’re talking to partners with a view to getting a partner with a local IDX listing which would “give you the Indonesian ownership that you need to satisfy the requirements”

We know that Mr Gupta has taken the AE block and that he’s involved with DOID - who the recent RNS confirmed are a “publicly listed company on the Indonesian stock exchange whose operating subsidiary PT Bukit Makmur Mandiri Utama ("BUMA") is one of the largest mining contractors in the country”

Things appear to be playing out exactly as described in that interview from 3months ago which is pretty reassuring / impressive. The numbers speak for themselves and given the price of copper is much higher than when the previous deal was announced it seems fair to expect a better deal than last time - when the SP soared.

good luck - I’m super excited and confident!

@ earache like everyone we all meet on here I don’t know who you or therefore what your level of knowledge is. You certainly come across as well informed, if extremely odd in attacking almost everyone you have an exchange with.

Today you’ve talked about GDPR, which is something I know alot about. And you’ve talked nonsense, again expressed with your usual condescending tone. It tells me a lot. You’ve shared some random articles but clearly not read and / or understood them.

For example, your most recent comment “So anonymised data can't be reconstructed, eh? Imperial must be wrong then. Hmm...”

The Field Fisher link you shared explains “in anonymous data sets individuals cannot be re-identified by any means reasonably likely to be used”

So yes anonymised data won’t / can’t be reconstructed - if it could then it wouldn’t be anonymised data.

As Field Fisher also explained

“Achieving successful anonymisation of a data set will determine whether its use is subject to data protection law or not”. If it is anonymised GDPR won’t apply.

It’s a complete red herring in any case because volunteers will give consent to the extent it’s required anyway.

@lseo - the sport isn’t people losing money, the sport is this share. It’s not an investment based on fundamentals, hence s it’s gone from 2.80 to 1.80 in a week based on nothing other than sentiment.

Personally I think the those who peddle a narrative to support their own position are the morally bankrupt ones. I don’t have an agenda I have an interest as it’s an exciting share to watch and try to make money from.

“Our time will come” is just a ramping cliche. As others have highlighted the future here is almost certainly some form of further dilution followed by a further drill which even if (unlike Merlin) it doesn’t hit any problems, still represents an odds against chance of finding oil that can be commercially viable. I’m not an expert so if that’s factually inaccurate I’m happy to discuss the point and be corrected - but I suspect they’ll simply be another wave of personal attacks. Play the ball not the man.

Come on Eileen, tell us when and why that will be?!

I’m not invested, hence I’m probably more objective and less agenda driven than the believers like you. Non of whom can articulate their position.

This share is just a bit of sport, not a business

Nice speech, if more than a little Farage.

I’ll try again tho - why do you think the “great results” have led to such a massive drop? Or don’t you understand even the basics of your punt here?

I’m not bothered as such, and suspect you won’t be able / willing to articulate yourself either way - but I am interested to know why you think the “great results” had led to such a drop?

You thought it was a great price at circa 2.40 even before the “great results” so you must be doubling down now at these levels?

As is probably obvious my suspicion is you don’t understand what you’re betting on here, which probably explains the dismissive and diversionary tone.

The thing is Blackadder, according to you (and other believers) the last week was great.

On Monday you commented “Great results
Well done to all holders”.

What is it you’re hoping for next week?

@earache - is it fair to say you think the share price will rise from here?

@ earache that’s the classic playbook on these boards - attack the poster and their motives rather than debate the point. I can assure you what I said is entirely true of my history, but I appreciate like anyone else you won’t. / can’t know whether to believe that. Probably all them more reason not to be such a know it all and attack my posting history.

You referenced me asking a string of personal questions. Infact it was only 1 question - O was trying to understand why you’re (still) invested here. I don’t buy the line that others peddle that if people are invested they must be positive (as you’ll see I wasn’t) but I do find it instructive to k ow what someone like yourself who was making the same points a few weeks ago when the sp was considerably higher. Presumably you must think ot will rise again? If i read your non answer correctly you’re essentially here because you bought at a higher price and now don’t want to take the loss, perhaps because there might be a short term boost to the sp?

Unfortunately I can’t answer your questions as to why 20p is fair value. If you look back I’ve already acknowledged I’m not that clued up. I made a fairly rash and as it turns out really poor decision to try and catch a falling a stone, as I read far too much into the £300k purchase. It unsettles me how much he goes on about it being 2 x his salary as if that magically makes it a good buy. As you highlighted In in Amryt and the charisma there recentlyish bought £600k worth at 2.00 and within a couple of months it dropped by a third to 1.50. I dare say people there followed his purchase and lost (in the short term).

My concerns over this business that frankly I wish I wasn’t involved in from 26.25 levels are mainly that I don’t really know how to value the spin offs. Nor do I have a clear view on what the figures this year will look like or whether they’ll be repeatable / higher next year. Most of the talk is around it’s a growing market so of course we’ll do well and that might be true but Is prefer to get a read on the numbers. None of the above reflects very well on me so I’m not sure what agenda you think I’m trying to push or who (else) I am but your petulance and inability to accept /answer a polite questions had exposed you as a pretty nasty and bitter poster. But it sounds like you’ll still be here for a while - ultimately because you think it will go up not down from these levels.

@Ricky

I’m no expert but I’d be surprised if price sensitive RNS’ could be delayed to manipulate the market.

By way of disclosure to the wider boardI bought here after Cathals purchase as it sounded a good chance to buy in lower than him. I wasn’t very well researched at all and still have more to learn. To be honest I don’t quite see why we’d expect the mcap to be worth more than this - there’s not a lot of meat on the bones and I’m not sure the bones themselves are that clear!

Equally (and I realise i might be picking a fight with both sides here!), can I ask Earache if he’s still invested and if so why? Is it because you a) believe in the business b) think sentiment can get the sp higher c) because you don’t want to make a loss or d) other?

Thanks for sharing that Rabito, it is indeed an excellent post, which rationally and objectively analyses the results. This board definitely gets sucked into a childish game of believers versus those who might see things differently but the article articulates a balanced middle ground.

On reflection the results were broadly what might have been expected, ie “we still think there’s lots oil down there but we still can’t be sure we’ve got what we need”. It was always going to require more time and money to make the next step but nobody here wanted to acknowledge or explore that.

Nothing commercially definitive but sounds very promising and the story retains the excitement, albeit it’s now a game of patience until next year.

Well done to those who are in profit