Member Info for ChasPB

Thought i read that we received an Average gold price of $1,305 last Q2.

Since July 1st Gold has been $1,393 +, and most days $1,420+

So if we produce 125,000 ozs Q3, with a $100 average price increase that equates to an extra $12.5m income, and then the same for Q4 or higher???

Not bad for a FTSE 250 company

https://www.centamin.com/~/media/Files/C/Centamin/documents/presentations/2019/hyr-19-presentation.pdf

Maybe of interest to some:
See presentation document used yesterday in conjunction with conference call

Hearing that there are up to 60 more redundancies announced at Holborn Head Office as scaling down on Mortgage lending/Operations.

This follows the 155 announced in May/June in the loans division.

And don't forget we now have hired [Saltfleetby] experience:

Mike Wells
Director of UK Operations (Non-Board)

Mike began his career with BP at Eakring and was involved in the development and appraisal of many wells in Lincolnshire and beyond including the original successful exploration wells into the Portland at Brockham.

Following time with Candecca Resources, Mike was employed by ROC Oil to oversee the Saltfleetby Gas Field (the “Field”) and he remained with Wingas UK Storage Ltd on its acquisition of that Field. Mike has extensive experience in field management and engaging with all regulators.

Well if that was true, what would be the point of going after ANGUS?

All the money they have would have been spent, the SP would be even lower, and JTP's holding would be worth 10 bob.

However, if Balcombe and/or Saltfleetby did come good, and the SP rose to 15p or 20p in a years time, would the Court Case still proceed?

Real Analyst:

So have you found out a possible time frame?? 2 years or 3 years or ???

and then going after the Nomad as well, add on 6 months or 12 months or ???

Not so sure.

Think the FCA will still issue a Fine, +at least a couple of Class Actions (for big bucks) simmering in the background

Will be a lively share that's for sure

So RealAnalyst

Can you advise your/Legal teams timeline.

These things take time, so I think Balcombe (6-9 months), therein funding Saltfleetby (9 - 12 months) will be quicker than this Class action getting to court

2nd Picture: Are they 4 very large Storage tanks?

Can't remember seeing those before

I suppose we now own 80% of Lidsey, so may become more of a priority for us?

Slipped under the Radar at the recent CC meeting?

Nice to see:
West Sussex Planning Committee have 4 meetings planned for the remainder of the year
Sept 10th, Oct 8th, Nov 5th and Dec 3rd

allowing plenty of possible opportunities for BALCOMBE application (hopefully presented in next 4 /5 weeks) to be passed.

Remember we are already working with the Council and Regulators - so perhaps Q4 still on track?

ok RXDAV.

My thoughts turned to class actions by shareholders v. RBS started I think in 2008/9 and started to settle out of court 9 years later. if fact I believe it may still have some way to go yet,

The Shares (from mis leading information in a rights Issue) dropped from £2. per share to 12p per share in 5/6 months, and eventually there were some 5 different Class Actions groups. Out of Court settlements of different amounts with various Class Action groups (Some settling for 41p or 43p or 82p) in 2017/2018. but these amounts were nowhere near the £2 per share paid

These Class Actions were mainly funded by Institutional Investors, but Private Investors also had to make more than one contribution to the costs. This was partly due to the length of time it took preparing by the legal teams to go to Court.

Hence my last question to you of: if they do turn the SP around in the next 6 / 12 / 18 months (say 15p or 20p or 25p) what will you do then?

RXDAV, The courts are clogged up. i suggest the timing maybe a question you may want to ask.

Also if ANGUS win the CC and want compensation for costs etc, will your 3rd party funder pay up?
Just because your confident with your legal team doesn't mean they wont have the same confidence with theirs.
And as i ask if they do turn the SP around in the next 6 / 12 months what will you do?

RXDAV - I'll ask the same questions to you as RA.

What sort of time frame are you talking about here?
2 years or 3 years, what ever monies £2.5m or £5m will be long time spent and gone.

What happens if Balcombe delivers and Saltfleetby delivers, and perhaps add in some Brockham and Lidsey production?

Remember even in your own words its 2020, the Court Case could be 2021 or 2022 or longer!

Share price could easily be 20p+ by then, are you still going to proceed with the CC then?

And what if you lose the case and ANGUS want compensation???

RA - What sort of time frame are we talking about here.

2 years or 3 years, what ever monies £2.5m or £5m will be long time spent and gone.

What happens if Balcombe delivers and Saltfleetby delivers, and perhaps add in some Brockham and Lidsey production?

Remember even in your own words its 2020, the Court Case could be 2021 or 2022 or longer!

Share price could easily be 20p+ by then, are you still going to proceed with the CC then?

And what if you lose the case and ANGUS want compensation???

Next month (August) should see our completed application for Balcombe move forward for consideration.

As mentioned in recent CC, it appears as though communication and deliberation with regulators and council has significantly improved since Paul Vonk left and may be met with a more favourable response.

Wouldn't surprise me to see this application approved very Quickly, and Oil being produced Q4.

Time to BUY!!!

Also to bear in Mind is that the Average Gold Price
2019 Q1 = $1,305
2019 Q2 = $1,307

Its only since the last week of June has the Gold Price been $1400 and ABOVE.

So with significant INCREASE in production expected and a much higher Gold Price (currently $1421) Q3 results should be even BETTER

KenniGT, if you have sold out your holding & you think this share is such a loser

WHY ARE YOU STILL HERE?

What is your goal now?

Remember this is only one of many Bulletin boards , has no influence with the MM's, only with a few confused/inexperienced Shareholders.

Move on with your life, or perhaps BUY Back in at the current SP, and accept (with hindsight) maybe you should have stayed in.

Tiger, very reasonable and sensible post.

Hopefully, the increase in GOLD Price over the last 4/6 weeks should be to our benefit also.

I'm going to say 120k production

and some surprise news on Ivory coast project

We still have approx £2.5m (from the £3m placing) still in the bank, PLUS we've just banked a further £2.5m.
Our Mkt Cap = £8.5m
Directors now investing in our own shares
New (BP/Wingas) man on board with previous knowledge of Saltfleetby

Wonder if the Balcombe 300 bopd mentioned in CC was our 25% of this project and in fact they look to produce at least 1200 bopd? Of course as stated it could be more!!!

SP looks too cheap at this level

" ..They even lied to us about flow testing-telling us they were going to test, whilst at the end of March they had already told the OGA they hadn't. "

So RealAnaylst, Why didn't you raise this on the LIVE Q&A? Why didn't you send this in to YellowJersey Pre CC?

Even if your Class Action was successful (in 2 or 3 or 4 years time), what could ANGUS currently afford to pay you? 0.5p/1p per share?

You might as well SELL up now for 1.3p and move on.

Of course, what would happen if ANGUS were to win? - might support the SP eh!