Member Info for BenAlder

Like the submarine?

Your right Rach. Price is 20% below where I bailed out ages ago, a tad too early, but no regrets. As I said, it would drift back down.

So 6+ months whats happening? I saw the usual annual self award scheme being milked again by the BOD. Lots more shares issued too.

Plant still not started even as aviation fuel is at highs. All those wages to pay! Maybe close to a sale? I really hope so. These guys are clueless!

Disko a go-go? Maybe? I was never impressed that the group they hope to front this campaign is college lecturers and a group of final and ex students. Real experienced group! Is it funded yet? I'd bet no drilling this season.

Is the oil drill still on track at Jameson? This is the only play to worry about.

Come on sub 70.

It does not matter which party is in, they wont fix anything significantly.

What surprises me is that no one is talking about the probable fuel and food shortages. Significant inflation and rising interest rates affecting all businesses due to the coming oil shock.

I sold out today with a regrettable 20% loss and stuck it in VOD. People need houses and phones, but phones more. TW. will have to build expensive homes to make a decent profit into a tighter market, whilst dealing with cost and supply issues for months to come.

Going to get worse before it gets better, IMO.

cc - mine were - 1) oh ****, 100% liable now! 2) very quiet up to now and nothing new to what we already knew, but a wee pump on the 'potential' size. last time they did this (helium), i believe there was a wee fund raise that followed the hype.

just sold out today for a very healthy profit. may return later as this will fall back with nothing new and the dates drifting out. there again this thing has grown legs. a penny by xmas is possible, but i'll take my money and wait until nearer drilling and see how the plant sales are fairing.

atb!

Well it seems we all want the SP to rise, so can we get back to some ramping now please.

I am probably the BODs greatest critic after RachT2. Managements past performance is an indicator/flag in any scenario. I look at the past and hold this management responsible for the company's demise. However as I said at the start of their current tenure, those mistakes were probably made naively. Have they learned from those errors? I will give them credit for the achievements to date.

They needed to address costs. They did so by getting rid of surplus projects . Some more successfully then others, but I think it is a tight market.

Bought JL. This seemed crazy at the time when they were broke, and smacked of self interest, but they may have pulled a blinder by getting this deal with MarchGL. At least they are finally exploring one of the prospects and this year too. This deal mitigates the dilution we have experienced.

GS I think was a mistake for all the reasons I've previously outlined. However, I/we are not privy to any information to decide for ourselves yet. It is a case of trust us. If it generates profit, then another pat on the back, but that's far from clear at the moment and it is still a big gamble.

They rescued Disko back from Kobold, relatively intact, but in a position that they can move forward when the money or people arrive.

If they can rescue some value from Dundas, another pat. I suspect they need money to move on this front.

We are now in a better position than a year ago. We have active opportunities and some direction which is better than sitting idle as we have been for so long. Well done for that. They have created a chance, so now place your bets!

Ashton - Re: Cairn drilling. You are right, my bad. Sorry if I misled anyone.

Jameson Land - Excited, but how many times do explorers strike it lucky on their 1st or 2nd attempts. Norway was ready to pack it in after numerous failures before the final attempt struck black gold. Cairn Energy was the last major to explore the seas off Greenland. East of JL. Spent a fortune and turned up zilch. Nearly broke them. I am excited by the potential here but tempered by the reality that this is an explorative drill campaign. So I find it funny that people are speculating way beyond the results.

GreenSwitch - I'm skeptical that this will produce any meaningful profits, but maybe I'm wrong. Next news flow may give us a better picture. I'm just hoping JL comes off before there is any bad news from this corner.

Disko - I'm skeptical here too but hoping that sly RM produces another rabbit out of the hat. My feeling is that this talk of being in talks with potential partners is still more hope/hype than close to being realised. RM et al are salesmen and will always promote a positive front with no detailed information to help us do anything else but trust them. Its immaterial at the moment because JL could be the making of 80M. Disko is the fallback.

I do think this share is worth a short term punt and not long to wait for the results. Interest is picking up now that it is lifting off it lows. Should be more news flow to keep the interest up. Bluejay? Who are they? ATB!

This is what they always do when they have been diluted down along with the other shareholders. This and the other awards made to themselves since arriving, allows the group of directors to retain a degree of control over the company, whilst enriching themselves in the process.

It is the frequency and generosity that is hard to swallow/justify. Hardly stretching targets. Viewed as a new Co and a low SP, some will consider it fair, but SP surely needs to be held for a year and not just a spike. A RNS of JL hitting oil would likely spike it, even if it turns out non-viable shortly after. Achieving some meaningful goals such as the JL deal, Disko deal and GS profitability, would naturally move the SP up. Double rewards from the same objectives. Greedy bar stewards!

Well I hope they are going to enrich as all soon.

Should I add more on the basis of this claim, I wonder?

"a highly credible Director…" lol! - What do you base that on? Are some others not? I suppose I agree with you on that one. They were telling Ashton that Disko will be drilled the last two AGMs. They compare all their unexplored projects with other world class mines yet sell them off for a song or struggle to get rid of them. Screwed up drilling, developing and selling Dundas. Etc, etc. So a credible director intrigues me. Which one? Never mind.

Did you get the low down on Disko and GS or anything else, beyond the propaganda that they have already released? No? Just "Will be a great year" Based on what exactly? As if they will ever be frank enough to say otherwise, that would be inside information. Maybe he was talking about the weather. It has been a great year!

It 'could' be a great year if JL comes up trumps, and I certainly hope it does. Or if they announce new 'great' news, like - GS is running like a dream and customers knocking at the door, and that the company has finalised a deal to get Disko drilled next year, but otherwise the SP says it all. You need to improve your credibility mate.

Agreed Ashton, they look a quality team and I am optimistic as you are on JLB's potential. I have confidence that they will get this done barring any adverse variables that they do not control, like the weather.

Success here could lead to Disko being financed for a significant drill campaign too. Buts lets not get too far ahead of ourselves. ATB!

I've no interest in this company beyond the possibility that this drill campaign for 1 or maybe 2 holes, strikes oil and or gas. I'll exit on any spike.

A strike on JL should produce further support to define it, and American backing is a positive to generating that speculative funding. I believe they will take it forwards but 80M will be squeezed out by its need to raise its proportion of expenses. I believe RM et al intend to sell out rather than go down that path. They are not capable IMO.

I have very low expectations that 80M will ever capitalise on Disko either. Operating in the Artic/Greenland is too expensive to be attractive to any majors at current commodity prices. It is likely that a similar deal will be required to drill that project, reducing ownership significantly.

I have no faith in current management. Big red flag. So I'll take the first chance to leave with a profit. This will just bleed away unless they find something. Total gamble. GS is a ticking time bomb not the golden goose.

I think they have derived that sum from the amount that has been spent on the project/area to date from all surveys. Note these have all been geographical surveys, never drilled. So it is also potentially worth $0 if they don't find anything. It is only worth what someone is willing to pay for it. How much did they pay for it? Suddenly worth a whole lot more over night? Ignore it, it is meaningless.

Even with all the negativity around this company, Jameson Land drilling could see this lift five to ten fold on news of oil or gas. I think its worth a small punt on that basis. Not long for some news on the start of this campaign.

"The UK's bioethanol industry faces collapse, after a government decision not to offer the sector a rescue package.

The country's two major producers, Hull-based Vivergo Fuels and the Ensus plant in Redcar on Teesside, had both previously warned that without government support they would be forced to close, after a deal to allow US ethanol to be imported tariff-free. "

https://www.bbc.co.uk/news/articles/c24zlel2y5yo

China also has a surplus they want to export. Will the EU keep them both out in favor of its own manufacturers or follow suit?

CC - Yes it is possible that GS will garner more business as the EU has various mandates on increasing the use of biofuels. That is the only saving grace at the moment because the 'greener' product is simply too expensive to replace fossil fuels outright, and co2 savings are marginal. But GS will need to be running at a high production rate to make profits, and they are still a long way off that in terms of orders.

There is the same structural problem here (biofuels) as in the renewable electricity sector, EVs, oil/gas reduction etc. The scale of the problem v's investment cost and time required to make the transition. Currently there is not enough financial support from Governments to get this moving fast enough. You have seen back-tracking in all these areas and I expect the same here. This is a high risk investment verses moderate returns at best, because the margins will always be wafer thin.

Tecnoparco Valbasento wants to replace palm oil for a cheaper 'greener' option. Palm oil must be really expensive in relation to many other vegetable oils that could be utilised. I believe GS uses soya beans. Where will they be grown and transported from? Italy? Brazil or USA most likely, as Trumps tariff war has screwed up their soya and corn exports. Cheap but not green due to the transport co2.

They should of stuck to mining.

Palm oil is used in everything these days from food to cosmetics and biofuels to name a few. The issue Walsh makes is that transportation costs of palm oil to the refineries negates the CO2 savings the aircraft industry saves by using it.

As regards the sustainability point. They are tearing down pristine rain forests to plant these mono crops which destroy eco systems etc. The other issue is that growing these crops for biofuel production is competing with the food production required to feed the world.

What is your point?

I'd be inclined to think that he was brought in to find funding for GS until it can make a profit, but he is a mining chap as opposed to another industry, so it is likely it is to seek funds or partners for one of the mining projects.

Dundas needs a fresh comprehensive survey to resolve the conflicting previous results before it can attract investors or be sold. Is there any interest out there to warrant that?

Disko and all the other licences need drilling to extract value for this company and its weary shareholders. The JL deal is an expensive way of getting two drill holes completed. Not that they had much choice really, unless they tap up shareholders and new investors in the way it is usually done and retain the lions share, at least until a discovery is made.

Should JL drilling be a success then they will probably require funds to keep their share going forwards, if there is any future development and they choose not to sell their holding to the consortium. However this will be a nice problem to have, and one shareholders wont mind.

The last thing most of us don't want is another acquisition, so that is probably what will happen next!

They'd have to be running at or near capacity to make those margins.

The maintenance costs of the plant will be significant too. Just look at how much has been spent recently to refurbish it. I suspect that along with the profitability is the real reason that the previous owners can't wait to get shot of it. Maybe I'm wrong and they will be flooded with orders, but I kind of doubt it.

The only potential I see for 80M is the Jameson deal at the moment.