Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Wow! Great find IG. This is starting to look incredible.
I bet the old FD has some stories to tell, he resigned in Feb so not too long ago. There's some ambiguity around that funding RNS on Thursday, why bother releasing that.
Just sent over mate
I have been in touch with Tony Burt who replied only yesterday stating he would inform the market of the developments and asked for questions. Considering what has been released today this looks like complete BS. He did not come across as a guy who had just lost his business, in fact quite the opposite. The whole thing is stitch up but unfortunately for Burt he's left a trail in his wake. I don't think he ever intended to leave the market, I would good money on INL offering the cash required for full control of the business and old Tone just couldn't resist. Happy to share the emails with anybody who wants them but I would be following this up.
There was 85k in cash left at the end of the FY, just before Mike and Nick stepped in. Basically Haythorpe left us for dead before fleeing. On a positive note, a nice 3.5m buy went through after close.
Do we know how much of that £327,661 was Haythorpe's salary, I would have a guess at £100k. This being the case and Mike and Nick taking shares in lieu of salary that figure should have halved.
It makes perfect sense Bladey and I'm not surprised they decided to move on, there's a shortage of nitrogen and it gives them to review whilst the clock has essentially stopped. The trouble, as with all RNS's, there are keywords that small fry investors look for,. "water", "moved on" or "abandoned". I work for a large Blue Chip in Project Procurement and you are continuously balancing risk (I.e cost) against benefit. There is not a chnace that Sononagol would return to TO-14 unless there is was evidential benefit vs risk. The uneducated on here (ART) will have you believe it's game over.
There's enough potential to get to 1p this year, without the tax losses or JV. Bonkers to think that 1p is only a £18m mcap.
Mike alluded to further news following the KH results. We know that in the interview from the 26/3 they were already bulk sampling, that's 3 weeks ago but I got the impression that it was well underway.
Hi Ed,
Thanks for your reply, that certainly adds more food for thought. Essentially they've gone from being unable to reactivate the fractured carbonate to flowing water but as you suggest this could have been expected, initially. The fact that extraction and a Director have invested at a premium suggests this is far from over, they could have got placing away at 0.35 and it would still be seen to be considerably better than the big discounts we're seeing in the Junior markets. I did suspect that they might go back to To-14 to give them time to assess, they wouldn't go back if they unless the additional the potential justified the additional costs. lets not forget that all parties have to agree.
Good Morning Edgin,
Thanks for your valued opinion.
Yet again, it looks like we're left to decipher the RNS. Could you please explain why there is substantial water during the flow test but no water detected during the drill? Is this to do with the Nitrogen clean up? I'm assuming the low oil saturates are because its essentially being diluted. The fact they are returning suggest they believe the get something but again there is not mention of the zones tested. What happened to the top 8mtrs?
£94? :)
It needs to hold 0.29, again. Keep both feet inside 0.30 and there is a chance of 0.45 by the end of May, can't see the 0.60 Zak Mir is shouting about unless big news drops.
I know an investor who has been in contact with Burt and lets just say he didn't come across has having just lost the love of his life.
The fact that Extraction are converting at 0.80 speaks volumes. If the critics' on this board want to be taken seriously then name another 3 companies on AIM that are doing the same. It's not that difficult, is it?
It looks like Burt wants a lock in, a after hours RNS and a suspension request.
The fact that Extraction are converting at 0.80 speaks volumes. If the critics' on this board wants to be taken seriously then name and other 3 companies on AIM that are doing the same. It's not that difficult, is it?