Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi 993444, just 1 trade so far, still well off the radar but with more regular newsflow that should all change soon. Bhukia PL update due by the end of the week. Fully funded for 12-18 months and last capital raise with the strategic investor was at 19p. On the grant of the PL the 3rd tranche will be at 35p! Looks undervalued here if all the ducks line up, an exciting drilling period in Africa and hopefully the outcome to company have been waiting years for and finally looks like they are going to get it at Bhukia.
No problem! You and I both. I think, as I said below, it's just well off the radar. If the PL is granted and the sp starts to move north people will sit up and take note. At the end of the day they already have a large JORC resource in Bhukia, they just need the PL to prove it up and increase it further. Plus we have drill results on Naton that will start to filter through from late Q2 onwards.
Hi Olda, Not privy to anything that's not already in the public domain but I've been researching this thoroughly as believe it has a very bright future, the recent interview after the previous update RNS is very good and well worth a listen: https://www.youtube.com/watch?v=36NqgG4MZW8
Hi guys, good to see a little interest here. The company seems well off the radar in general. I've been buying recently as we should see an update regarding the PL by the end of the month. In the interview in February Geoff stated that he anticipates a re-rating on grant! I would expect so also with further funding due at 35pps if it gets granted. Geoff stated in a previous interview that funding is in place for the next 12-18 months and that they would possibly look to raise if great results are achieved from drilling in West Africa. Drilling is due to commence in Naton this quarter so if the PL licence gets granted and results for Naton are very good the company could have a dramatic turnaround in sp over the next few months. Looking forward to news dropping and hopefully the re-rate. 29th was the date given, 6 trading days left.
This is very positive IMO. Minimal impact on the reindeers should see the re-granting of the permit, all other stakeholders on board. When the company were granted the permit previously the sp was 22p! Mcap just £4.5M currently and whilst we wait for the outcome likely news on Nevada, Norway and possibly Saudi. Been a quite few months, could be able to get a whole lot busier.
Yes a couple of 1M+ trades 2 hour delayed. The same individual wants 10M in total apparently so could see similar action on Monday. I’ve seen salaries mentioned, £120k pa between 4 directors is cheap on AIM! Directors taking shares themselves as salary also in Jan at 1.875pps giving confidence, Saudi TR1 investor bought 3% at around 1.65pps. The drift has been the lack of newsflow and impatient PI’s. Possibly Beaufort partly responsible also. Fundamentals haven’t changed. I’ve bought more at these prices as feel when news drops it’ll do another 200%+ (if positive of course). Very low free float and shares in issue. This is the time to average down IMO. I know I have been.
Metallurgical Testwork results will hopefully be released soon to ascertain if commercial grade acid-spar and mica can be produced from the ore. US looking to boost production on Fluorspar as well as other minerals, be great to see developments here.
Price nice and steady here at the moment. Looks like the seller is done. Expect a gradual rise back up with news due on several fronts. Exciting quarter approaching.
Agree Gunner1, the main thing is it flowed! With new technology it’s just a case of ensuring the reservoirs don’t get damaged and we should have a handsome commercial discovery on our hands. Not to say there aren’t any risks but it looks hugely promising.
You’re welcome!
fore deep*
Not sure blowfly does... hence the comments towards Petrel about the prospect. The fact it’s a fire deep play is hugely encouraging for me.
Almarchal-1 (Tesorillo) was drilled in 1956/57 by Valdebro, 12 months to drill, many hole problems occurred due to swelling shales. 4 sidetracks were undertaken. Gas flared from leaky surface casing for most of well duration. 39 DST’s, most recovered small amounts of gas (max 93% CH4), little to no water. 61 cores, 41 good quality porosity permeability measurements by IFP (Paris), good reservoir quality indicated. So why such poor DST recoveries when reservoir quality is good? Reservoirs probably damaged by fresh water drilling fluids reacting with swelling shales in combination with heavy mud weights. Technology has moved on significantly since this time, using an inhibited mud system to protect reservoirs & ensure best quality gas rates is just one thing that can be put in place. They need to design drilling & completion to minimise reservoir damage and are looking to evaluate drilling expertise in-country to achieve this. Tesorillo is a much larger variant of the fore-deep plays which Prospex will produce from in Suceava, Romania and Po Valley, Italy so they are already very familiar with the geology.
2M buy at 0.514p, someone’s confident. Expecting a bounce off the 200DMA. Generally demonstrates major support.
Great news today fundraiser, when phase II results are released this could be multiples of today’s price. It’s all looking very good. Results due within days/weeks. Great time to buy near 52 week lows IMO.
This is what stands out to me re the report released by PVE: - Production concession application to be filed Feb ‘18. - East Selva structure is identical in concept. - Selva licence best case value €14.5M on a 100% equity basis. Looks good.
Saffron Energy PLC Withdrawal from the acquisition of Po Valley Operations Limited ("PVO") Concentrating on South East Asia.
Because we haven’t upped our stake to 49.9% yet and it’s not due to be drilled until H2
That’s correct Gunner, has has already been found so derisked to a certain degree already.