Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
It’s not clear if this is the first drill hole on this newly refurbished rig for Royston?
If it is then expect two weeks or more of delays as they change hoses etc etc which they thought were “Ok” but aren’t as soon as the bit hits rock.
Piles of little things go wrong as it’s impossible to test how all the parts work together even when they are apparently fine individually.
It’s just the way it is.
It’s not clear if this is the first drill hole on this newly refurbished rig?
If it is then expect two weeks or even a month of delays as they change hoses etc etc which they thought were “Ok” but aren’t as soon as the bit hits rock. Piles of little things go wrong as it’s impossible to test how all the parts work together even when they are apparently fine individually.
Agreed but wouldn’t it be nice to oversize the pipeline and then go hammer and tong at the infill wells at Cascadura, Chinook and actually Coho (2 targets still to go there.)
Doing so then gives them the wall of cash to be creative in the east of the block and also the legacy acreage whilst the cashflow would protect TXP from any cheap bids.
Just Sunday morning musings.
Nice phrase “Medium Sized Company” and with a full TSX listing the funds are going to be hungry index buyers once this hits circa C$1bn which is just C$5.
We will see
Let’s see?
Agreed in full!
I am pencilling in Coho for late May now.
And Royston for Q3 as the seismic is now not scheduled to be completed till July apparently.
In the end it will be fine but it does jar.
I am not selling but very ****ed off that they feel it’s ok to mislead and clearly struggle to complete tasks on their own timescales.
Or it could be that people are ****ed off that they continue to misinform/lie Re testing or that Coho has been delayed again from end of March into Q2?
The geological upside in the release are great but it’s clear that TXP are poor at completing on any timescales they set themselves.
Maybe that failure to deliver is the taste that lingers?
If you want a master class listen to this chap who turned an investment trust return of £1 to £8000 in 25 years without mad risk.
https://citywire.co.uk/investment-trust-insider/news/charles-montanaro-qanda-history-tells-you-quality-growth-will-beat-value-once-again/a1471791?re=82914&ea=478215&utm_source=BulkEmail_Investment+Trust+Insider+Weekend&utm_medium=BulkEmail_Investment+Trust+Insider+Weekend&utm_campaign=BulkEmail_Investment+Trust+Insider+Weekend
If a 20 inch pipe at Cascadura can handle 250m MCFPD, then Coho which is only a spur to a local processor, carrying 10m MCFPD max only, needs to be 4 inches in theory.
But no doubt they are using something a little bigger.
Though for a precious $500,000 a month of cashflow it psychologically feels like that pipe should be visually much bigger given its impact on the companies finances.
The IG move to 100% margin on a thousand shares has sucked some liquidity out of the AIM market and once that started people went on a trading strike waiting to see how this would play out.
EQT needs DP to get out and explain the story via interviews but he is unlikely to do that until California is sorted.
And with the leveraged news focused short term IG holders substantially gone we might even see the real upside rather than having it clipped by short term traders killing the momentum?
Apologies to the long term IG holders.
Still think the next TXP is called:
TXP!
Another 5 to 10 bagger still on the cards.
This might please you as apparently TXP in Toronto has gone from a good buy to a fabulous buy!
https://www.barchart.com/stocks/quotes/TXP.TO/opinion
And some of us are looking at 60% rises in line with previous big moves.
After all we are about to get the results from two transformative wells with a third Royston about to spud.
The stuff released on Facebook etc is just stuff a local can see walking past so not exactly RNS material
Irish stamp duty
Not sure what happened to my spelling!
The Cascadura Deep well never got to its target because they hit another intermediate unknown gas discovery. So the original target is still there and apparently will be drilled in 2022.
Not a bad problem to have, whilst looking for gas they found an unknown discovery sufficiently highly pressured such that they couldn’t safely drill any further.
Anyone complaining about that is the grumpy guy with the red hot Ferrari complaining his parking spot is now full because he was given a Lamborghini as a surprise present!
The Cascadura Deep well never got to its target because they hit another intermediate cash discovery. So the original target is still there and apparently will be drill in 2022.
Not a bad problem to have, whilst looking forward gas we found an unknown discovery sufficiently highly pressured so that they couldn’t safely drill further.
Anyone complaining about that is the grumpy guy with the red hot Ferrari complaining his parking spot is now full because he was given a Lamborghini as a surprise present!