Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Other articles -
Economic reasons for -
http://www.anwr.org/features/pdfs/employment-facts.pdf
Planning for seismic -
http://www.petroleumnews.com/pntruncate/164634718.shtml
https://www.washingtonpost.com/business/economy/companies-take-first-steps-to-drill-for-oil-in-arctic-national-wildlife-refuge/2018/05/31/8f133464-643a-11e8-a768-ed043e33f1dc_story.html?utm_term=.acd1027956a1
Is it a good idea ?
https://www.nytimes.com/2018/08/03/climate/alaska-anwr-seismic-testing-tracks.html
BB32
Brom,
Not sure what GDPR Compliance has got to do with not seeing this article as GDPR is related to EU privacy rules - not too concerned however
The whole issue is a hot potato and results of the only drill by Chevron in ANWR is still shrouded in secrecy
http://www.gasandoil.com/news/n_america/3b38b087544a39c7dad052b6e7fd8d7f
Economic reasons -
https://www.eia.gov/outlooks/aeo/pdf/ANWR.pdf
Ecological reasons against -
https://www.ecowatch.com/arctic-national-wildlife-refuge-drilling-2524505765.html
https://www.nytimes.com/2017/12/15/climate/arctic-drilling-anwr.html
Just a thought - long reach lateral drill from Yukon into ANWR ? How far is area ? COP's long reach last drill 26miles?
BB32
128064,
Not really sure why you are quite so downbeat regarding possible Farm out - given the amount you have invested!
The size of the prize will govern the terms of the Farm out - just look at what we have - 2.89bn barrels of conventional oil in 500,000 acres ( shared with Burgandy Exploration) out of this area only 26% has had 3D seismic carried out, we are aware that there are some interesting targets to the east. The stacked plays in the Western Play Fairway holds potentially fabulous riches for little real cost...
Look at what has happened on the slope - Oil Search paid $400 million for roughly 26% of Repsols believed 500m barrels of oil in the Nanushuk play -
Dave is looking for at least a Tier 1 to spend $500m to commit to full 3D over the whole area, carry out 2-3 drills for 2-3 years and provide 88e with back costs - For this they will get approx 60-70% of the whole area.
Given where the price of oil is with probable recovery costs of less than $40 a barrel then there is absolutely no reason why, with so many looking in the Data room that we will not come up with something near what Dave is looking for.
Again I hope you have your thoughts wrong, and that this is what happens , I believe that we will all find out soon enough..
GLA
BB32
From my understanding of ASX rules ( very complicated ), I believe as previous announcements said Rights Issue price 1.8c / 1p then DW could sell without announcing up to 31st Jan,
So I believe someone has come to DW and offered more seeing as price in Aus went to 2.4c yesterday, so if Dave ( who did say he might not need to place unbought shares ) has been offered say 2.1 to 2.2 for the shares then I believe he would jump at this opportunity given how he likes to keep accounts tidy) and he then would have to disclose this.
But what do I know - all the vitriol and guessing makes this journey interesting,we will soon know let's hope Dave has something else up his sleeve soon.
GLA
BB32
128064,
Dave has always suggested 30% left to us and all potential Companies wanting to farm in will be more than aware of this, I believe the resource size is such that competition will mean we will get amount Dave is looking for.
No disrespect intended but news of Yukon 3D seems so far to have had an effect on Share Price , contrary to your thoughts ! So I hope that you have all your thoughts wrong and substantially on the low side.
Share price will recover quite quickly in my thoughts, this Company is well under valued for the potential of the prize that we are sat on,
Bring on the Farm out news Dave...
Good luck all
BB32
Interesting times
https://www.rigzone.com/news/why_majors_will_take_a_bigger_role_in_us_shale-29-oct-2018-157327-article/
Let's hope they start fighting over our little plot.
BB32
Lebugue,
Think you have that wrong -
"In accordance with the Rights Issue Offer Document (lodged with ASX on 5th October 2018), the Company reserves the right to place the remaining Shortfall Shares within three months after the closing date of the offer being the 26th January 2019."
The Company has the right to place the shares, the rights issue is closed as from 25th Oct.
I believe the statement advised the total of placement shares prior to requests for additional shares, as they would have to know how many spare shares were available before allowing purchases of extra requests.
It is disappointing to say the least, but this could still work in Dave's favour - when positive RNS comes in next couple of months - SP may well be higher and placing can then be done raising more at a higher price.
Alternatively it could go straight out at below where we are as has been suggested by 128064.
Time for a favourable turning point - come on Dave bring on the Farm out news..
BB32
Not sure what happened there, no idea why message posted perhaps 9p may become the next base ( LOL) it's a sign!
Seriously
1280604 thanks for your thoughts - as a Long Term Holder rather than a trader it is great to hear your thoughts,
I was quite happy to wait with my shares to end of game, when we sell up,
Thanks
BB32
128064,
Am interested in your thoughts, as you have said about a placing coming lower than today's price , yet you have said you will buy more at 1.04p? In addition to recent purchases
What else is going to happen to SP in next 3-4 months,where do you see it, where do you see your profit by trading as you say
Seriously interested in your view of trading and 88e in particular
News of Rights issue - fully bought - Share Price? Not fully bought - Share Price?
News of BOD's Options - substantially taken up Share Price ? minor take up - Share Price?
News of final 3D figure - Share Price?
News of Yukon 3D - Share Price?
News of Farm out - Share Price?
Pre Drill Winx - Share Price?
Successful drill & Flow test of Winx - Share Price?
BB32
Exact
The rights issue doesn't really move the price- the market moved the SP down to a level near to where the Rights issue price was fixed ie. 1p the current mid price is 1.05p it's not the same as the market buying 600m + on any day. When the market makers could keep moving the price up on demand.
The shares don't become saleable until 31st Oct I believe, obviously if there was a mass sell off they will go down, but why would anyone buying at 1p not wait until they are in profit before they sell?
That doesn't mean to say that they will definitely go up, this share is driven by news totally now, what Dave and the Board do regarding their Rights issue shares , Dave said all the Board would be buying theirs, and then as 40m of the 60m options due 1st Nov are Dave's - presumably the other Directors have the others - so how many of these are converted could affect the sentiment to the price.
The finalisation of the 3D, the release of 3D re Yukon, whether we buy any more leases, then the run up to Winx drill and when someone buys in re Farm out of Conventional will all have an impact.
You will have read on here that 1 or 2 are saying the Share price will go down when all Rights Issues are not taken up and residue goes to a broker at a discount- I personally cannot see that will be the case, the previous cash raises have been snapped up and I believe a lot have already asked for more than RI amount ,
I think we have jus read the interesting point, lots of positive news to come which will send the SP upwards - roll on mid 2019
BB32
Courtesy of 88Easy from Hot Copper, not sure if we have seen this makes interesting reading, apologies if anyone has already seen this.
https://hotcopper.com.au/attachments/osh-investor-presentation-pdf.1343878/?filename=OSH-Investor-Presentation.pdf
BB32
128064,
Re your post at 10.41 - still have issue with your thoughts re amount -
Dave had 33,892,566 shares which he can only get 1/7th in Rights Issue shares ie. 4,841,795 shares which will cost him A$87,152
However we shall soon find out whether he meant A$750k before Options or with Options included
As all Directors purchases and sells are declarable we can follow
- Prior to 2nd March 2015 Dave had 4,500,000 fully paid shares subject to vesting conditions , (disposed of these shares 02/03/15 ? Perhaps he didn't qualify for vesting conditions - perhaps SP was not high enough? He also had purchased 5,229,166 Fully paid shares & 187,500 fully paid shares in his SuperAnn Fund ( Pension )prior to 02/03 but cannot find what he paid for these.
2nd March 2015 bought 4,250,000 shares cost A$42,500
17th May 2016 bought 2,000,000 shares @ cost A$75,000
6th Feb 2018 bought 18,500,00 @ 0.015 cost A$277,500 also bought
6th Feb 2018 bought 1,375,000 @ 0.011 cost A$15,125 also bought
6th Feb 2018 bought 750,000 @ 0.02 cost A$15,000
Since then he has said he will take up all his rights issues Ie.4,841,795 @ 0.018 Cost A$87,152
So that totals A$564,777
Today he was awarded his Performance shares subject to him qualifying for them, and then he bought 2,500,000 option shares via his Super Ann ( Pension account ) cost A$52,500
He still has 37,500,000 options that he can buy from his main account How many will he buy by 01/11/18?
To answer your question from yesterday.. When I mentioned 1.08p that was last purchase price for shares bought prior to me posting.
Last 3 buys on HL today 1.09p, 1.09p & 1.05p
Still cannot see price going down...
BB32
128064
Link to podcast below - the question asked around 8.45 mins in- Dave clearly responds after RI .... And states he will buy what he can afford re options.
**************************************/index.php?post_type=blogpost&p=132255
You have every right to your opinion, I obviously have a different one having met him, not all "salesmen" are bad people as your underlying thoughts suggest.Without salesmen most Companies don't survive.
What most people on here get upset about, is the refusal by some to back up their statements with facts.
I personally read all posts and don't filter anyone,the negativity of some is incredible,
Whatever shortfall of shares not taken up after RI will be snapped up - in my opinion, there appears to be a new base of 1p why would share price drop further ?
Increased estimate of oil from 3D, farm out, Yukon Gold 3D to come, drilling of Winx, I think there will be a steady stream of news to come which will push the price up,
But then I have invested in the Company for the long term based on facts given out in RNS's, I am not someone just gambling on the roulette wheel of AIM for instant short term gains..
I didn't have any spare money to buy more shares, but I do believe in the Company enough, so I managed in 3 trades yesterday to sell exactly the same amount of shares that I can buy in RI, so I have ticked the boxes to get the shares back, outcome - 88e get my money, and I made 3% less trade fees.
As you say we shall see, I doubt that you will get your extra 2m shares for less than 1.08p current buy price
BB32
128064
Thanks for reply , but as you said after the RI he would have A$750k invested ( don't forget what you have invested goes up and down so Dave is well down as most of us are ) as per podcast, and if you listen again , the interviewer then asked him about how many options he was going to buy.
The options are separate to this , he replied that he would buy as many as he could afford,we do not know how many of his options he will take up.
But why the negativity towards Dave?
BB32
128064 care to explain your calculations, your thoughts intrigue me..you said
7.44am
LTI
By my calcs DW is going to put about £68k into the options and open offer combined, this is less than a few here will put in, is that everything he can afford? Doesn’t seem that much to me IMO.
And then corrected at 7.47
Should read 168k, fat fingers.
Dave is entitled to take up his RI on 33,892,565 / 7 = 4,841,795 so at 1p = £48,417.95 which he has already said he is taking up,
He then has by the 1st Nov the best part of 62,695,301 options at 0.021c or 0.0118p approx ( max £739,804 ) of which he said most are his, and he would buy what he can afford..He also said he isn't wealthy. He has had to pay for all his shares.
I believe that is why the Performance scheme has been brought in so he can be given shares.....
On your figs if he only takes up £120k worth of Options - for others to get Rights issue shares of £168k then they would have to be holding 117.6m shares - not many of share holders have that amount - declare at 192m 3% rule
Why you would try to belittle Dave I have no idea - when you are supposed to be invested, and someone who has said might double his holding to 4m after the RI.
Have you got insight into Dave's bank account?
Whatever he buys does depend on what he can afford - not that easy to borrow to purchase shares.
We will soon find out.
BB32
For all questioning the £1 party comments. Do the "Math' as the Americans say ...
Conventional Oil roughly 2.5 Bn barrels ( our share 1.75Bn barrels ) x $5
5 x 1.75 = 8.55 / 6.3bn shares = $1.35 = £1.04
That is just the conventional
Add in Winx, Yukon Gold, and then the unconventional and then everyone can see why some of the Long Termers believe this Company has the potential to truly multi bag from where we are now to final sell out .
BB32