Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Because that comment was made before LP was granted!!!
BP. My calculation is simple and conservative. 1 Well should produce at least 500bbl per day. at 70$ per bbl, Do the maths yourself.
Everyone seems to forget that once the first Heron well is pumping oil, we will be getting at least 1m USD per month in revenue. That amount should double for each additional well. Who needs loans or share issues anyway?
Nathan, if you are that negative about the prospects of PM, then sell up and get out is my advice.
GB!, there's being cautious and there's being a prophet of doom!!
Why any talk about dilution. Once first Heron well is producing it should bring in at least $1m per month in revenue.
Looks like OK result for long term investors, hell for 10% traders with stop losses.
Glad I'm not one of the latter this morning.
Mmafr, unlikely that news of V1 drill is leaked early, unless drilling is several days ahead of schedule. I believe that they have to drill through very hard granite to reach oil reservoir, so won't know until they reach 1500 metres.
WOS, good points. Please note that JULY 2024 is when the exploration license for the V1/V2 drills expires. If they happen to be dusters, which I sincerelyhope they won't be, then the company will have to rely on income from the Heron field to fund further development.
I'm sure our CEO is fully aware of this.
CJ,
I too am frustrated for the same reasons that you state in your first paragraph. As for a potential cpital raise, i can't seee this happening in the near term, because i think the company believe they will survive on income from the Heron field,
I hope that they are correct. all imho.
Doc, i haven't got time to have a typing contest on this BB. No one else is interested in our dialogue.
Yes, but it's not worth my effort answering it.
Todays bought and sold figures say that your thesis is wrong.
The amount bought and sold today is almost exactly the same, so no reason in your comment doc.
It's 5.15
Makes no sense if the buy rate is down as well as the sell rate.
What's going on??
Can't see any logic in MM's prices. Anyone enlighten me??
Agree Patshare, none of the many SP predictions on this BB have been accurate and most of them have been massively wrong. It gets increasingly boring to plough through these posts every day.
And what an elephant. If velociraptor hits oil, it opens up the prospect of exploring almost 8,000 (thousand) sq, kilometres of further potential acreage. compare this to block XX which at 218 sq. kilometres is tiny in comparison!!