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Good to see you on here Mr Beetham. I hope it is you and not someone pretending to be you. The members of this board change from time to time...On the ramp up to 2.50 we had some most excellent pumpers, most of which have moved on to other plays. The hardcore LTH here probably don't post a lot or get involved with the minutiae of what is going on day to day. As you must believe in what the potential for GGP is, I admire your commitment to it. I , like others I am sure, would love to know what makes you commit such a large amount of capital into this venture ?
BARON OIL PLC ("Baron" or "the Company") Option to farm in to North Sea Wick Prospect and update on plans for Peru Block XXI Baron Oil PLC (AIM:"BOIL") announces that it has entered into an option agreement with Corfe Energy Limited ("Corfe") to be assigned part of its rights to farm in to UK North Sea Licence P2235, which contains the Wick Prospect. Baron's option must be exercised by 28 February 2018. The Wick Prospect lies close to the shore of NE Scotland, 5 kilometres north and updip from the Lybster Field, which has been developed from onshore facilities. The prospect has been defined by 3D seismic mapping by Baron and others and a recent announcement by Upland Resources Limited stated it has estimated in-place P50 Prospective Resources of around 250 million barrels of oil sands of Jurassic and Triassic age (unrisked) in the licence area. The Wick Prospect will be tested by a well drilled to a total depth of 1200 metres in a water depth of 50 metres. Drilling operations are expected to commence in September 2018, at an estimated total cost of �4.2 million. Under the terms of the agreements between Corfe and the licence operator, Corallian Energy Limited, if the option is exercised by Baron and subject to necessary consents, the Company would pay 20% of the well costs (�840,000), plus �6,500 in back costs, to earn a 15% interest in the licence. Malcolm Butler is a non-controlling director and shareholder of Corfe but the proposed arrangement involves no financial benefit to Corfe and he has recused himself from Corfe's decision. In Peru Block XXI it remains the intention of the board to drill well El Barco-3X on the Minchales trend and the Company is currently in discussions with a third party who is interested in participating in the well. The block is currently in force majeure, due to some difficulties with the local administration, but it is hoped these can be overcome shortly and the well can be drilled within the next six months. The estimated cost of this well is US$1.4 million, to a total depth of 1850 metres, and it is planned to test both a low-risk, relatively small, shallow gas play and a higher risk, higher potential oil and gas play in fractured basement. Pursuant to the requirements of the AIM Rules for Companies, the technical information and resource reporting contained in this announcement has been reviewed by Dr Malcolm Butler PhD, BSc, FGS, Chief Executive Officer of the Company. Dr Butler has more than 45 years' experience as a petroleum geologist. He has compiled, read and approved the technical disclosure in this regulatory announcement. The technical disclosure in this announcement complies with the Society of Petroleum Engineers standard. Bill Colvin, Chairman of Baron commented: "As shareholders were informed at the beginning of January, following our success in securing the release of all monies held against the Z-34 Gu
Great, so where's the payment for it ? Don't understand why the cash balance can be so low... And why still no figures ? I don't get it.
Animal.. Not sure if you saw this but HC Starck have just agreed a non binding offtake agreement for Tantalum with Tawana Resources
Interesting articles.. especially that China has circa 7 m tonnes of lithium resources within the country, yet they are actively searching out of it for more...Talk about blowing the bloody doors off...
Held these shares for a long time...Averaged all the way up so in at around 7.50 now for 285k....(even paid 14 ffs) I had to find some of my holdings in my pf to sell so as to be able to add to GGP... Finger hovered over KENV many times but just couldn't bring myself to sell any...Still a believer so its really good to see that there are signs of life today, though I am not exactly sure why ...I saw a few punters recommending it as a buy for a move to 7.50 but that seems to be missing the point...if its a buy then its got to be back to the highs or why bother ?
Agreed. With all seemingly proceeding smoothly , this would have been the perfect time to offer some numbers and year end projections, even at a conservative estimate.. What they offered in the past didn't add up so we are still in the dark. Sadly the disrespect they show SH is palpable.
Agreed on all points except if the deadline gets extended resulting in a sell off. If NM don't find what they want, they will know by now...If theres something of interest it could take time to value it and require further exploration . If Callum is holding off he is doing pretty much what I am doing...Believing...
I take your point. When I said it that it could have a knock on effect on the GGP SP I didn't mean that it would crash the price so much as to lower it. What worries me over there is that there are a lot of new stars in their eyes who have bought it without much research and on the back of endless ramping , and they are all in over 1p, mostly over 1.5p and if something negative comes out they will run for the exits...LTH wont IMO...As you said GGP is overvalued here, but undervalued if NM buy in of course so its a binary bet. Personally I would have hoped that Callum has let some go as its a massive trade for him.
Agreed, but now is not the time. Not only is GGP 3 weeks away from the most important announcement of their existence, which if its the right one will multi bag... but if they sold here it could have a very bad knock on effect on their SP. There again.. I am biased.. being a holder of both.
Cheers Maverick. I think Ni prices will and are rising on this, and there is a trend in the making. I am not a believer of the price going over $15k/mt personally so am making my forward calls at a max of $12k.. lets see. Exciting times to be in any metals producing business I think.
Thanks for the research note. I like a lot of what you have put there and it is getting me interested (again) I would say though, you and everyone reading this should disregard any bank's price forecasts, especially UBS. Anything they forecast is, from my experience, in their own interests. I am bullish Nickel and have traded it at much higher prices in the past but wary of held back supply and over excitement of the whole EV scene. Personally , any forward calcs I will be doing will be maximum $12k/mt and if it goes over that, then its a bonus.
Agreed. Its one of the many missing things here. having been in this share for some time, and reading the news or rather the lack of news that comes out, I have to believe that this has been played down for kemet to buy cheap
Thanks for the replies. I have a lot of shares because I believed the story and the potential. Slowly I came to the conclusion that we were being fed a lot of BS and too many gaps in the story of their progress. I'm still in it because the bandits involved in this company need to make money out of it so we can ride their coat tails hopefully... Good to see them back in I suppose but we need to watch the register closely.
LTH here who has managed to turn a 100% profit to a 50% loss on good old KENV. Interested to see that Tracarta (Co dissolved in 2003 so I guess I am missing something), has been busy this year in Ironveld, SMA as well as out and in to KENV... http://www.investorease.com/company.php?disp=major&epic=IRON&holder=Tracarta%20Limited Is this good news ?
Agreed. You mentioned Newmont as your reason for the switch. I think their other properties are excellent a reason enough to own these shares, but the Newmont outcome will be a binary event and if its a no..then wouldn't be surprised to see them back to 30 again. FUM is a slow burner but hopefully we are on the home straight....I hope so.. they are almost my worst share in my portfolio...VAL being the absolute dog of dogs...
Matt... I own both shares... FUM down 60%, GGP up 90% so I can see your reasoning and logic, but just be a little careful in assuming that Newmont will find anything/offer a JV/ buy out. They are doing their own survey and there is no info in the public space on it so if you are being told otherwise don't believe it. Personally I think they will find something good, but its a lottery ticket. FUM will come good eventually.
Thanks for that. Everything good with that except that it comes from Macquarie bk who have little good reputation these days. If you ever trade ASX stocks you will know. However, IMO the SP is worth well in excess of £1 so will not argue with them. Very pleased to see it getting into the public space finally.