Member Info for Bridgedogg1

Nice buys. Could see a double digit rise tomorrow.

From the wording of the RNS it seems we want to keep the insurers on side by pursuing the most prudent option. Seems the concern a more costly sidetrack might be rejected by the insurers so no point in doing it until you have to.

The traders are out, looking at the charts it’s clear to see why. Will it dip to the 0.5p or will it bounce if the 0.6p, they are terrified at the chance if missing out. Personally I think only bad news can pull this down and I don’t see where that will come from unless the financing collapses, which seems unlikely. Any sign if recovery will be jumped on, this is primed for a quick bounce to 1.5p. Whether that holds, pushes past ir pulls back will depend on financing and production both of which are looking very positive. I can see 2p here quite easily but would probably jump at 1.5p to be safe.

A lot of PREMs share price success has been built in hype and expectation which is to be expected when the exploration results are good and funding is quickly secured. Now that it’s producing it will be judged on operational efficiency and output which is another kettle of fish. Nearly all small miners with just one asset struggle because one issue with the mill or mine and everything stops. It takes a long time for new mines to bed in and sort the niggles. All the while there’s those helpful finders on the sidelines looking to take as much of the asset as possible from you at the cheapest price.

The share price seems to have flattened out and it seemed to me to be a good opportunity to get in before a number of material positive developments. Fingers crossed.

This looks some way from being resolved. Turkey or Kurds need to pay the fine, the oil companies said they wouldn’t restart production until payments are brought up to date and the Kurds don’t have any money since Baghdad cut them off and oil hasn’t followed. The news is that the pipeline will be open, whether or not oil will flow is another matter.

Last update stated ‘Should the outlook for commodity prices strengthen in the second half of 2023, the Company will refresh its capital plans to accelerate its drill ready low-risk high-impact Glauconite / Falher, Cardium and Dunvegan / Wilrich inventory in Central Alberta, Wapiti, and Simonette respectively.’

There is also a commodity price sensitivity guide. Using wti $72/bbl as base forecast, for every $1 movement in oil price equates to £1.3m operational income.

Oil is motoring at $94 can’t see any reason why we shouldn’t atleast be back to the 19p before the June cuts announcement. Poo was around 75p then.

My bay issue being that I expected an acquisition in Q3/Q4 with the director buy obviously nothing has gone beyond the assessment stage. With the current oil prices I expect the planned acquisition has been shelved in place of oil drilling.

We’ve now had buys from the chairman, CEO and CFO as well as JPMorgan adding at these levels. It has been looking cheap to me and glad I could buy back in at this price.

Interesting tie-up with Sainsburys, maybe this has been oversold considering the cash position

Yes the complexity of the Kurd situation can not be over stated. The kurds agreed to make sakes through Baghdad for a proportion of the Iraqi budget. The Iraqi Supreme Court ruled that payments from Baghdad is illegal. Oil has stopped flowing so the kurds can’t get money that way. Both Iran and Turkey are carrying out drone strikes in northern Iraqs Kurdish region. Now we’ve got protests on the disputed kurd/iraq boarder.

This could be resolved quickly, but there’s a real chance it could blow up into something much bigger. Where would that leave GKP I don’t know.

Your point being we have been too successful in securing contracts? Not something I'm worried about!

I noticed that Harl have put in for quite a few renewable projects that we haven’t won but the money looks v good. Once we become better known in the space and skills have ramped up we could have a really good revenue stream.

21 Feb 2023 13:00

George Roach, CEO commented, "We are in the home stretch in terms of final plant assembly and commissioning, and we remain on track to produce spodumene concentrate (SC6) this Q1 as planned.

Back before the world went crazy the estimate was for over £2bn in revenue. I assume that gas storage is more valuable now than it was then, and possibly greater rewards can be made from the seasonal arbitrage. Considering a national security element as well as a renewables element with the hydrogen, both of which help with funding, I would expect the value of the project to be around £300m to £400m profit spread over a number of years. But WTFDIK

There is never a mention of the amount of revenue generated from these contracts. I assume its in the ten of thousands? Not quite enough to cover CEO salary of £150k+ let along the overall wage bill of £600k+. This is a company with a business model that revolves around placings based on investors valuing potential blockbuster drug which has not materialised any progress in 10 years while running a loss making business to justify salaries paid. Sure there might be a pump at some point but genuinely where is the actual value coming from? Not these tiny contracts or buying up businesses that have already gone bust. Very unlikely to come from a shooting star result on one of the compounds if it hasnt already. I guess the only hope is to look at the charts and hope it goes up at some point.

Looking at the latest investor presentation (which is quite old now) there is no mention of the possibility of selling IM. I'm not saying it wont happen but we were looking at a number of financing options including farm out and guaranteed gov loans. Considering this and the Ferry news clearly Harl are looking to strongly diversify long term income streams to make a flexible and sustainable behemoth. I fully support this approach, the only issue for me is the disparity between the share price and the near term projects which makes a quick sale look slightly more appealing, but there's more value to long term shareholders to be had as a minority partner in a funded development IMO

I'm fairly new here so this may have come up before but I was just reading up about the creation of the National Shipbuilding Office and the Shipbuilding Credit Guarantee Scheme. Very relevant and interesting stuff

Description

Stornoway Port is the largest port in the Outer Hebrides. Our new Deep Water Terminal will be complete by the end of 2023; it will provide two new berths suitable for use by the offshore energy sector. It will provide a deep-water berth and laydown area adjacent to Arnish Fabrication Yard, operated by Harland & Wolff.