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“With growth recovering faster than expected, the UK economy is approaching a soft landing, following a mild technical recession in 2023. CPI inflation has fallen faster than was envisaged last year and is projected to return durably to target in early 2025.”

With the Bank of England contemplating whether to cut interest rates next month from their current 5.25%, the IMF said it saw scope for two or three 0.25 percentage point cuts in official borrowing costs this year.

But it said the longer-term growth prospects for the economy remained poor and that this – coupled with demands for better public services and “critical investment needs” – put pressure on the public finances.

The IMF team said it was assuming higher increases – 2% real growth – in departmental spending, but that this would result in debt as a share of national income continuing to rise, reaching 97% of gross domestic product (GDP) by the end of the decade.

The IMF said that, to be certain of stabilising debt by 2029-30, the government would need to raise revenue or make savings equivalent to one percentage point of GDP – roughly £30bn – and that this would involve “tough choices”.

“In light of the medium-term fiscal challenge, staff would have recommended against the NIC rate cuts, given their significant cost."

Good spot Tro.

Well test planned for early Q3.

Possible re-entry at Tai.

Cash likely required, so im staying in observation mode.

ARCM starting to move.

Bought a few MMAG, highly speculative, just based on the chart movement.

Hey nom,

Tro needs to up his game, lol :)

Morning Tro, everyone.

Quite like AXL, CEO always comes across as one of the better ones, usually a straight talker rather than salesman.

Hi nom,

Yeah, thanks.

The BB is more like a fan club at times.

I dont post on other BBs as im usually just a short term visitor, but ive a relatively long term interest there, so post occasionally. Let's just say concerns aren't welcome, lol.

Often reminds me of George Orwell's Animal Farm, the Sheep in particular.

Tro,

Very true.

Im attaching a brief overview of what's going on in case its of interest. Its the accompaniment to the recent investor presentation.

The upside is potentially massive if they can penetrate the formation damage.

https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2024/03/Final-Proactive-Presentation-14-March-2024.pdf

The BB has gone full Cult, with the "faithful" refusing to countenance any responsibility on the managements part for the colossal delay. Frustration or concern = non-believer.

GRH was threatening some guy with legal action for disagreeing with him the other day, lol.

Tro,

Re testing. Yeah you are not wrong.

They raised £10 million to test in July August, still havent managed to complete a flow test!

They tried once, with completely unsuitable equipment, just to be seen to be doing something lol.

Have spent most of the cash on "other" things now.

Similar to BCE - formation damage. They expect Sandjet to do the job.

Expect ARCM to move on news.

BZT, due a move up, yeah.

Kenny,

Re John Fury.

Carl Froch, responding to the guy a while ago. Is funny.

https://www.youtube.com/watch?v=3wXGL7ZCLZs

Cool,

Im getting frustrated waiting for PRD to test, lol.

Traded some CHAR successfully, in KAT, ARCM, watching TXP and a few others.

Tro, are you in neo? :)

Have been busy, hope you are all ok.

I read a few months ago that China were instructing producers to boost steel production despite waning demand when i was watching Met coal prices.

One wonders why. Something nefarious no doubt.

Hey Tro,

Yeah the explorers i mean. The producers can't meet projected demand, supply has to come from the explo comps.

Colin Bird has been on about it for years. Dwindling supply and not enough explo work.

Yeah Anglo, soz, it should be AA tbh lol.

Hey Tro,

Yeah im quite keen, some of these copper plays need to move soon, i mean the disconnect is absurd.

I listened to the recent presentation. AA are about to start a multimillion drill programme, SP is the result of the rainy season, a placing, and a distressed seller.

Chart looks good.

Tro, dont think you saw my post?

Anyways, i bought some, looks set to move shortly :)

Tro,

Do you see trades for ARCM on CNBC?

Some decent size buys showing on Lse.

If AA get the drill out there is a lot of upside.

Jimmy,

Appreciate the reply, thanks.

Jimmy,

I am not necessarily expecting testing of this zone in the forthcoming SJ programme.

Are you?

In the recent presentation Paul mentions several times that the" focus" for SJ is to be the middle sands, in the expectation that these are likely easiest to penetrate, so path of lest resistance.

Once the requirement for a mid-case CNG operation is met, i am not therefore convinced that further testing is a given.

Quite what is meant by "focus", im not sure, but ive taken it to mean priority, with other zones considered optional.

All three wells feature in the activity schedule at the start though.

?

He's alluding to the Project in Morocco rather than our daily volume.

Mick, nom,

Really made me laugh when i read Rod Stewart on the Civil service!

Still laughing now lol.

Yeah, i think the guys great, certainly so when judged against fellow politicians.

His knowledge of the Muslim world from a foreign policy perspective is just tremendous.

Irrespective of disagreement over his personal stance on any individual policy, hes the sort of person that makes for a good politician imo.

Rory discusses the dynamic between Minister and civil servant.

https://www.youtube.com/watch?v=KAMDmsHwrKw