Some interesting talk on ADVFN regarding possible upgrade of resource given that 126mb was based on Ecoshale. Suggestion of 230mb based on Turboshale. Doesn't take a genius to work out the massive potential if so. Updating the BART extraction costs in line with US inflation would give cost per barrel extraction of no more than $25, and that assumes that RF cannot improve on those historic figures. With a very conservatve $50pb sale price that would give 230mx25=$5,750m or £4.3b 'profit' Not sure what timescale that would be over but am sure someone can work out a rough NPV. Either way, £4m MCap is "just slightly" undervalued!
So we have around £1m cash following the latest placing but they state that this will last until late Q4 when further funding will be required. Let's hope we are over 20p by then......
Mere speculation, hence the "???" ! Of course, if I'm right, I might have to claim mystic powers!
I would be very disappointed if it was the FS as I would expect more SP action in the run up...
April 17th presentation "We are very very close to getting the PFS out........PFS is out shortly." And on the presentation timeline it shows PFS as being done by end of Q2......
April 17th presentation "We are very very close to getting the PFS out........PFS is out shortly." And on the presentation timeline it shows PFS as being done by end of Q2......