Member Info for British_Mike

How come exploration licence EL45/5297 purchase (and the two smaller blocks) were offered by the previous private company to WSBN?

I know it sounds obvious - WSBN asked to purchase it.

This is prime prospecting ground and clearly WSBN have scanned viable targets... red setter being larger than Havieron. Surely a major like Newcrest would've putchased any remaing privately owned pocks of land in the 'Havieron' surrounding area with spare change in their pockets? Why sell the high-demand ground WSBN acquired to WSBN?

Just curious and already have a share holding here.

Thank your for the replies. I was thinking a couple of years likely.

If this deal in Cyprus goes ahead (processing historic copper tailings dumps) - how long before JLP start production (earning)? We talking months or years? Thanks in advance

Indeed Novice - another strategy that I could see working. Especially when 2 weeks before the campaign HE1 are not even sure of their drilling prospect choices yet lol. All sounds last minute changes which has also put me off a little.

A lot of hype here being newish type of exploration to many PIs... the great hunt for helium.

So you could buy now and hope to 3-4bag (£1) on a helium hit 1st well. That is good, but a lot of risk to someone buying at 22p. Sorry, but you're late to the party if you're thinking of buying now.

The 2010 Falklands oil campaign taught me a good few tactics. The hype was there back then - wildcat drilling of the north and south basin... oil seeps from FOGL's elephant size loligo prospect (turned out to be uneconomical gas condensate).
DES (Desire petroleum) was the main operator for the multiple companies sharing the Ocean Guardian rig. Anyway, DES, RKH, BOR and FOGL share prices rocked on the build up (like HE1). Then the first well was a duster... share price collapsed in all companies. Then, 2nd drill Sealion was oil discovery... share prices miltiple bagged. RKH that hit the oil 10-bagged in 3 days.

As I said, risky odds for a new "investor" now. If you were serious about HE1 you'd invested at 5-8p where it was after IPO.

In my opinion a good way to have played HE1 was to invest big at 8p... big top-slice at 20p+ to give yourself a free carry. Then wait for the first drill. This is what I have done. If Tai is a duster the share price will fall to around 5p... then you're a high-risk type. At least the upside will be a 20-bagger instead of a 4-bagger. If they hit 1st well you still have your "free carry".
Or, if you're thinking of jumping in but concerned the risk-reward is currently low (4-bagger risk not that great compared to the downside) you could gamble by waiting out the 1st well... then jump in at 5p. If they hit 1st well... oh well, you miss out or you could jump in at £1 and hope the remaining wells hit and you still get your 5-bagger.
Depends on your risk appetite. I have a free carry on this after selling half yesterday... and will see what the 1st well result is.
Each to their own strategy of course.

Does the last minute 2d (modern) siesmic which has led to a rushed "upgrade" of Tai from low-priority to suddenly the maiden drill prospect mean HE1 are rushing this drilling campaign before they are truely ready? Sounds to me like the whole block needs new 2d and 3d scanning and taking a closer look at which prospects have the best trap and seals. The trap seal for light helium is even more essential than "weaker" liquid oil/methane gas trap seals you might have got away with. That Helium isn't escaping to the surface due to a lake-wide seal layer.

Thanks for the reply Malbred. Indeed, we don't want to become investment vehicle relying on investments out of our control (we are not the operators of those Bakken wells). It's ok as a small side-line to fund the state well. Let's get Cane Creek pumping where we have control of our destiny and the future satellite wells around it.

KP4Ever - These side deals are all very nice... I think most, including myself, are eagerly awaiting the lab results of the core samples before jumping in big.

2 of the 4 remaining are ahead of schedule (and likely to produce sooner than expected?) Yes, before it said all 5 in May, with revenue 3 months later. Where as now it's all 5 by July, but with revue 2 months after (instead of 3 months) as the first two will be producing sooner than expected.

Basically, you are correct that all 5 wells will be producing 2 months later, but 2 will be on stream sooner than expected, Nothing goes perfectly to plan in O&G industry so the earlier production and later "all 5" balances out overall. So no big deal to me.

That's if I have understood things correctly.

The new acquisition is that each well can be case-by-case meaning we don't bite off more than we can chew

Thanks RightOn. As I mentioned - no offence to other PI's interested in the porphyry or the BoD strategy. The gold I can understand, but zinc traces can sit as surface tailings for a much later attention imo. It's just something that has bothered me from early on about the polymetallic processing strategy can cause distractions and this recent porphyry hunt talk was enough to make me say something. The BoD seem focussed to not let the 99% unexplored potential distract them from getting a revenue stream running asap. Looking forward to the next webinar... good topic. I'm more used to oilies and know how the slightest lack of focus or over ambition can be fatal.

.... the polymetallic mix will it lead to money made constantly being "spoken for" neededing to be reinvested in processing equipment instead of shareholder rewards? I'm all for seeing a company grow but lets reap rewards at the same time. Or has the ambition changed?

Before anyone jumps calling me a "deramper" - PXC is one of my largest holdings so this is just putting it out there as my nagging concerns;
1) The PXC combined mining licence, whichever stage each part is in... PXC's resource is a polymetallic nature. This bothers me in the sense that, as in the recent webinar, each metal requires its own processing. Someone mentioned the zinc in the recent webinar - although there as a nice addition... it requires its own process to extract. So, the Empire starts with copper and the gold later down the line. Two processrs just to get going. Seems to me that unless it's extracted as a mixed basket (like rare earth elements) and can be sold as a mineral ore concentrated "mix", the extraction of each individual mineral will require lots of processes that will take ages to get on stream or not be viable with the smelting equipment required and we end up selling cheap mineral rich ores for others to process downstream and where the money is made.
Hope you can see my point. Several metals as a mixed bag can be uneconomical even though it sounds like hitting the jackpot. Other companies processing a single metal and rest is waste is a much more simple business plan.

This leads me to my second point.

Call me what you like but part of my reason for being here is dividends. I heard first-stagd mine is quick payback capex and PXC could pay divis pretty much as soon as. However, the polymetallic nature of what we have so far and a lot of talk from PI's about hunting out the porphyry bothers me. I was hoping this would be simple mining and make money. No offense but the porphyry could be anywhere and luckily the BoD not seem that interested at the moment. If one likes huge wildcat drill for Norilsk type structures there's Kavango (KAV).

I realise my divi wants and thoughts on going for the apple tree is not everyone elses desires but I really hope PXC stay focused on a straight forward mission if bringing a viable copper mine to market and reward shareholders for getting in early and raising the cash to get this off the ground.

Thanks for the reply mdrake.

Mdrake - How does hitting on the first drill derisk the other planned wells?
They are drilling 3 wells testing seal/trap/charge at different depths and different types. Each well will be totally different probabilities.
If they hit all 3 and multiple levels then yes... the entire lake will be derisked!

With AMC and HZM the main nickle plays I'd thought it would be in AMC's interest to get things moving unless of course they (AMC) know the mine is not comercialy viable after all or unde the Russian thumb.
I don't get it... Adam H brought energy to the stock with his regular interviews and income deal and basically told us the TEO was on track and ready for Dec 20. Then, there was the "wife sale" of stock before the iron dilution (that many on here played that all down with their rosey glasses on. Then all the bull s started with TEO clearly no where near ready, Adam H shown the door and now AMC gone into its own 'lockdown'.

Wtf is happening AMC? I need clarity if I should sell out and jump to HZM as I want a viable nickle play in my portfolio over the next 5-years to mature into. This is no game, peoples time as well as money at stake. I want to be in a decent battery grade nickle play so time show your cards AMC and tell us if it's game on or not.

Sorry, was in a rush earlier.

So what is better... 25% of a £6.2b free carry

Or

70% of a £4.5b low-risk tailings processing (dirt cheap) + 90% of a £210m secondary asset?

Still a no brainer?

RBW's Gakara mine is beer money to RBW.

The real show is the Phalaborwa asset - 35 million tons @ US$147t with virtually no waste. The gypsum it's self is pure clean after and so can also be sold.

I still think MKA's golden nugget is the patent magnet metal recycling technology share.

Like I said, all 3 companies are good.

Cristalball - MKA will have 25% of the mine at most, RBW's mine is the richest NdPr vein system currently going... not to forget 17 years worth of gypsum stacks containing NdPr 9-times more concentrated than China's clay fields... already "cracked" and on surface.
MKA, RBW and PRE are all special in their own ways - hence I hold all 3.

Spacetomatoe - Don't forget the drilling company are supplying an appraisal grade drilling unit at no extra cost to HE1 and are taking some of the wells as pure equity.