Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Fair comments BUT: given the Co committed itself with 1st farm-out deal for low risk trial drilling, shown some confidence on its large acreage "asset " base. it indeed justify "hugely under valued fact" on its market cap of £1m esp when PoO is about reach $40, toward $50 yearly average forecast by major investment banks! "landlord strategy" seemed not too bad to me !! GLA
Sounded like a deal is done with the bank by new BOD to secure the facility, which is the most important safety we need ! Next is to remove Matt Lofgran in coming GM as he no longer has any leverage and "voted out" is still a grace saving for ML ! At current market cap of 90K vs the assets, BUY!
IreneKRAPP : I am not stupid mixing revenue with profit! !
I just point out the basic facts we have so far, unless the audited financial report is published , we don't any other figures to work with ! I If you are so much of financial expert, maybe you can give us STUPID shareholders some indicative figures on NTOG's true financial position ??? GLA
Thanks for warning Steel. However, the well is producing so cash is generating and land for future drillings is secured , so only if this time his dream comes true in near future for us too.. wonder what happens to permit .....GLA
Also, the latest number of NTOG's website:
Existing US Assets (15 Jan 2020)
??646MBO Net Reserves (1P)1
??109 bopd net (194 bopd gross) 2
?? 2.5MMBO recoverable reserves
??$28 million NPV10
IMHO, it means Co is way undervalued by Market.....I keep holding and may add when have more cash... GLA
IreneKrapp: I am by no means defending Matt's poor management but just to quote the last interim numbers as follows ;
"· Revenue for the period of $947,000 (30 June 2018: $1,133,000)
· Gross profit from operations (before depletion, depreciation, amortization and one-off exploration costs) for the period of $297,000 (30 June 2018: $568,000) for $50/bbl to $60/bbl trading price from Jan-Jun 2019.
· Average net oil sales of 98 bopd (30 June 2018: 101 bopd)
Now, since then, the PoO is mostly above $52/bbl and average production maintained similar at approx 98bopd, do you see company is cash negative for month end in December 2019? I hope it is not....
Steeltitan: yes matt has not been effective in delivering what is expected of him, i.e. farming-out deal, permitting and drilling etc..But speaking of Company's potential bankruptcy is utterly nonsense since company is cash generating as shown in last interim results ! With bank loan backed up, only news I am hoping for is it the completion of acquisition other "producing wells" to jack-up the miserably low SP, which could very well happen anytime soon, I hope!!! So hold or add is my position ! GLA
This statement indicates few coming progress for so-called "raid transformation " for what is worth: 1) two drilling will likely taking place simultaneously, esp if they can secure a farm-in partner, but at least one well at this 160 acre site with own money. 2) MA deal on few production well nearby can be bought out cheaply from smaller owners with low interests loan which will indeed addd to the total daily production amount. i.e cashflow. 3) these "production wells" will likely be vertical wells, which in turn, may have potential to expand for horizontal well... So fingers cross for Matt to deliver after all we are not diluted so far. IMHO only and any comments welcome. GLA
I don't expect this as we are cash flow positive and debt free for now , Matt's last buy was almost 30 days ago now (close period) so we should have news on drilling program and farm-out hopefully ver soon as his last interview indicated. GLA
This co-ordinated action has released all of KEFI's security encumbrances, other than minor cash security deposits, to allow maximum flexibility for structuring the financing of the Company's Tulu Kapi Gold Project (the "Project"), which potentially could include a larger initial Project equity investment by Ethiopian private sector investor, ANS Mining Share Company, the details of which will be concluded in due course.
https://www.investegate.co.uk/kefi-minerals-plc--kefi-/rns/convertible-loan-facility-and-operational-update/201908050700068217H/
For ANS not to put up with their LOCAL CURRENCY for the handsome stake in GOLD makes not sense whatsoever, IMHO ! Only possibility for not to announce the funding could well be that Locals wanting a larger stake As CEO claimed in previous RNS!!! ADDED!