Member Info for Bickmaster84

I think most of it is available on Google Earth Pro, potentially pulling in and overlaying a few other subscription satellite imagery resources. You can then plot the PREM plans posted in reports and presentations by plotting/copying them from PDF into a .dwg file and then importing it into Google Earth Pro using a .kmz file.

That's how I would do it anyway, though I generally get other people to do the smart stuff for me.

Bickmaster

From my post last night...

"It is reassuring to see they are getting on with it but the next 4 months will be absolutely crucial. Having seen the pics of the groundworks/foundations on Twitter today the good news is they are progressing. I was interested however to see masonry footings infilled with nothing more than dirt. I would have expected mass concrete if this is to be anything other than offices or workers accommodation/welfare facilities. More updates would be welcomed and appreciated."

My question has been answered this morning by PREM - the footings were for site accommodation and footings.

It would be good if the next update was on the mining equipment procurement, programme, pit excavation etc. rather than the ancillary infrastructure. All going in the right direction though.

Big 4 months ahead.

Bickmaster

@RB@Balboa

How is this share meant to exceed all expectations? It won't. But it can meet expectations by starting operations on time and producing what the plant is capable of producing. That in itself will be a major challenge and one which they have not managed to achieve before.

It is reassuring to see they are getting on with it but the next 4 months will be absolutely crucial. Having seen the pics of the groundworks/foundations on Twitter today the good news is they are progressing. I was interested however to see masonry footings infilled with nothing more than dirt. I would have expected mass concrete if this is to be anything other than offices or workers accommodation/welfare facilities. More updates would be welcomed and appreciated.

Bickmaster

Denbury has a market cap of $4.9billion so one would have to assume an offer to buy them out would be ~$5.5b or above.

Denbury Inc. is an independent energy company with 191.7 MMBOE of estimated proved oil and natural gas reserves as of December 31, 2021, of which 97% is oil. Our operations are focused in two key operating areas: the Gulf Coast and Rocky Mountain regions. The Company is differentiated by its focus on CO2 EOR and the emerging CCUS industry, supported by the Company’s CO2 EOR technical and operational expertise and its extensive CO2 pipeline infrastructure. The utilization of captured industrial-sourced CO2 in EOR significantly reduces the carbon footprint of the oil that Denbury produces, underpinning the Company’s goal to fully offset its Scope 1, 2, and 3 CO2 emissions within the decade.

CO2 EOR currently accounts for approximately 3.5% of average U.S. daily production, or approximately 300,000 barrels of oil per day (“BOPD”) or over 100 million barrels per year. CO2 transportation pipelines currently cover over 5,000 miles and are a small fraction of the U.S. natural gas pipeline network. CO2 EOR projects have been in commercial operation since the 1970's and enjoy an impressive record of safely and securely injecting more than an estimated 1 billion metric tons (one gigatonne) of CO2 since 1984.

I imagine the CCUS element of their offering is quite interesting to Exxon on top of the 300,000bopd.

Bickmaster

Hi all,

Good discussions about the number of parties who COPL could potentially do a JV with. From what I can see there are about 5-6 and ideally a competitive bidding process will kick off on the back of Art's comments and the presentation slides.

Bigger issue for me is Art saying it could be done this month. If he was to pull that off it would be a gamechanger but the timescales to get such deals done along with the necessary due diligence and paperwork is generally much longer, often 3-6 months and sometimes even 6-12 months or more. I hope Art has not set an unachievable target which will not go down well with the market.

I really don't care who the partner is so long as COPL gets a good deal and it doesn't drag on for months.

Bickmaster

Hi Mal,

I agree, SP predictions short term difficult to say but I'd be more than happy with your suggestion of £1 by Xmas. Current Mcap is £42m so that would result in a Mcap of ~£250m. Will definitely meet you for a beer if that happens, in Thailand or anywhere else of your choosing!!

Bickmaster

Evening all.

Perhaps this is getting very much into the world of Mystic Meg but does anyone have any projections on share price over the next 3-6-12 months. The reason I ask is because I simply do not have a clue myself. Holding 300k shares at 20p average after taking another 100k this morning but I am a relatively new investor here.

I can see the short term targets and milestones as being:

1. Permission secured to increase flaring next week.
2. RBL secured by end of October.
3. JV agreed by Christmas (I simply cannot see how a JV could take place in a few weeks given the legal documentation etc.).

Of course in the event the JV was secured in the short term it is quite possible the need for the RBL goes away, depending on the detail of the deal and the amount of cash being put forward by the major.

Some really good posters here. Also a huge amount of trash, though it is easy enough to sort through the dross and pick out the objective and factual posts.

Good luck all, hopefully we all make a lot of money in the not too distant future.

Bickmaster

All these talks of £5 a share. Give me 50p and I'd be happily out with my profits.

Bickmaster

Johnny,

I thought LIBS doesn’t work, or at least isn’t reliable enough to be of any use to PREM?

Bickmaster

Not sure. I thought a simple gravity dam would suffice. In any case masonry arch is relatively straight forward to construct.

Morning PB,

GRs schedule he mentioned previously aims to have the dam complete in Q1 2023. I said i thought it could be delivered in 6 weeks and is relatively low risk, assuming they go with gravity dam construction. There is little need to schedule the dam construction early, indeed it may be better to leave it until as late as possible to reduce the risk of working in wet weather. I work with a few hydro schemes in the UK and their maintenance schedules are focused on doing as much as possible in June and July when rainfall is at its lowest. I still think it could be delivered in 6 weeks if they went hammer and tongs at it, but it is unlikely there is a need to given they will have more pressing matters in their programme.

Hope this makes sense .

Bickmaster

It looks like they have a good spot to build a small dam with good support from the rockfaces on each side. I can't imagine they will need anything more than a simple gravity dam made from local masonry/aggregates. I'd allow 6 weeks to get this built which is very achievable and should be quite low cost and generally low risk.

Bickmaster

Cosmonaut,

It appears we have a lot of shared views on delivery risk and the securitisation of Suzhou debt against PREMs trophy asset. Big risk reward play here which is down to project delivery. Fingers crossed this will be the first one PREM gets right.

Bickmaster

PEs for African Mining companies are generally in the 3.5 - 5.5 range over the past few years. PEs of 10 are very rare in this area.

RedAndy

June/July 2023 for DFS in my estimation.

Bickmaster

June 2023.

PB, Johnny, Acker, Snowking,

Yes, great news on the Pilbara auction prices. Especially when everything else in the global economy is under a lot of pressure and will continue to be until early 2024 at the earliest. I just came off a very depressing economic outlook forecast call which is probably the 5th or 6th such event I have been on in the last 3-4 weeks. None have made for pleasant listening.

I must maintain my position that the RUS won’t do anything positive for SP. 10Mt won’t get anyone excited and significantly underplays what PREM has in the pipeline. It will be all about the DFS so every effort needs to be made to get the assay results over the line and prove up ~100Mt+, of course without taking the focus off the pilot plant construction. These are two entirely unrelated pieces of work and PREM should be able to progress them in tandem. Then the investment world will take note.

Bickmaster

Folks,

A lot of people on here seem fixated on the RUS. From my perspective, given Suzhou are on board and have provided the cash for the pilot plant the RUS is effectively irrelevant, especially as the RUS is only targeting approx 10Mt of resource at whatever percentage the site investigations will determine. Whereas I am hopeful the DFS will provide >80Mt, and in an ideal world will provide 120Mt+ @ >1%.

The RUS would have been a necessary hurdle to secure investment for the pilot plant if Suzhou weren't involved but, given Suzhou are involved, does the RUS have the potential to have a negative rather than positive impact on SP given it is only targeting such a small number and is likely to be misconstrued by the market.

Bickmaster

I can guarantee you PREM will not tell us they will be distributing millions to shareholders via dividends in October. To even start talking about dividend policy before we have a plant in place, never mind an operating plant, would just be silly. Have we learned nothing from RHA and Circum? If we were listening to the dividend projectionists on Circum we should all be very rich already!!

Oh lord, the dividend discussions are starting again!!