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According to the Moram report we're currently at a revenue rate of around €900-950k a day with Dutch TTF hovering in the low €90s. Does anyone have a good estimate of how much of this revenue translates into bottom line cash in the bank for KIST? It would be a nice exercise to try and determine by what date we might have net debt covered. Can't be far off at current prices.
That is a good point – then by reworking if hedge is only applied to net BOPD for KIST and at 3333 p/d hedged as footeloose says:
12700 * 60% KIST working interest = 7620 net BOPD to KIST.
3333 BOPD hedged * 1.699 * €25 = €141,600
4287 BOP unhedged * 1.699 * €100 = €728,400
Total revenue per day = Approx. €870,000 net to KIST
If price remains here until April 2022 = 134 days
134 days * €870,000 = Approx. €117 million
Based on stated production figures and current market price here’s a quick calculation on current revenue to give a good idea of cash build. Have I overlooked anything with this?
12700 BOPD – Current production
1 BOE = 1.699 MWh or 0.59 BOE = 1MWh
Approx. 25% production (3175 BOPD) hedged at €25MWh
75% production (9525 BOPD) unhedged at current market price of €100MWh
60% KIST working interest
(3175/1.699 * €25) * 60% = Approx. €81,000 –net to KIST
(9525/1.699 * €100) * 60% = Approx. €971,000 – net to KIST
Total revenue per day = €1,052,000 net to KIST
If price remains here until April 2022 = 134 days
134 days * €1,052,000 = Approx. €141 million
It's looks like the predictions of CF & the BOD running this company into the ground and allowing it to go for a song have finally come true. This surely cannot have been their preferred outcome but no doubt the majority will retain their jobs/salaries and receive a handsome share incentive in any potential takeover deal which is why they DO intend to recommend AA's bid. The lack of information regarding St2 finance over the past 18 months has been dier and surely questions have to be asked.
With no news forthcoming on the potential funding re the proposed finance structure, one would assume that no news is bads news and this offer is the only one on the table? The best outcome we can hope for now is a second offer pushing the bid price up. If only CF had shafted the NYM as much as he's shafted LTH's over the past 18 months we'd be shipping Poly by now. Condolences to all those over exposed, I too bought into CF's pipe dream.
Set a buy order for 5k at 24.75 which triggered and went through at 24.47. Every little helps in bringing the average down. Hopefully it won't be held at these levels for too much longer but whilst it is i'll be scraping to buy as many as I can!
Message from Barclays regarding the OO.
Thanks again for your patience in waiting there Mr **** as I know that was a short while. I have an answer, however, and can confirm that the deadline for the Sirius Minerals entitlement was extended by two days which may push the date which you receive them back slightly. We will apply the shares within 10 days of receiving them from Sirius Minerals so you can expect to receive them around the end of this month or earlier
Not sure what is being referred to when they claim the entitlement was extended by two days? Looks like it could be a while before the excess funds get returned but I don't see the SP budging from 15p for some time yet.
Was twice told on seperate occasions the OO would be up before the end of the day, 2 days later it arrived and then when applying for my allocation it stated "Not available to be placed into ISA" yet the system used funds from my ISA account to calculate how many extra I could apply for. First time I've had any criticism for Barclays, usually I find their platform very user friendly.
I paid a visit to the site in early January after spending the last 3 years in Australia and was disappointed at just how little is visible. If it wasn't for a few cranes standing tall above the surrounding banks you wouldn't even know it was there but I guess that's one of that many things which is so great about the project. It respects the landscape in which it is set! Still a great day out passing through Goathland and Whitby - You can't beat some local fish and chips, that's one thing the Aussies haven't quite mastered!
A nice 30k top up at 24p, should have held off an extra hour but this is one train I don't want to miss!
Hopefully a nice blue day tomorrow to finish the week. Can't be long now.
GLA
Just wanted to say thanks to the many posters who make this such a well informed board. I stumbled across BMN last September when I saw Alfa as the top recommended poster on LSE (which I'm is the case for many others) and not long after I decided to buy a modest 25k holding, managing to catch it just before the nice tick up to 50p. I was never tempted to cash in, I realise there's still so much further for this to go. I've followed this board daily for the past 6 months and just recently I've seen comments regarding RichKens constant regurgitation of prospects and price predictions as ramping. Without this repeated information it would fall so far back on the board many new readers would not discover it - so keep going RK! Hopefully with the recent and upcoming positive RNS's many more will read this board and see the same informative research towards the top that I saw. They'd then be aware of just how good of an opportunity this is to miss!
GLA