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Rio Tinto's copper and gold mine in Mongolia has proved a disappointment.....now where will the industry look for a world class copper and gold mine.....

Rio Tinto has slashed its estimate of how much gold and copper it can mine at its giant underground project in Mongolia’s Gobi desert, in the latest setback to the $6.8bn development.

In an updated feasibility study, Rio lowered the copper reserves at Oyu Tolgoi by 15 per cent and gold by 17 per cent to address previously disclosed stability issues at the deposit.

The move means production is likely to be lower than expected and the mine’s life could be shorter.

Annnnnd still no no news on the bid.....no update, no RNS just a big nothingburger!.

Well even the FT are interested in the SOLG story:

SolGold chief executive Nicholas Mather said the consolidation of Alpala into a single listed entity made “eminent sense”, simplifying the structure of the $2.8bn project and reducing the risk of dilution and future development costs for Cornerstone shareholders.
“It is also a unique chance to be a part of SolGold’s ultimate vision to become a major copper-gold mining company in Ecuador,” Mr Mather added. 
Alpala is currently owned by Ensa, an Ecuadorean company in which SolGold and Cornerstone have interests of 85 per cent and 15 per cent respectively.

Monkey business or just predators jostling for position to make a bid in October and NM working to get a fair price?

https://www.ft.com/content/678591d1-7f96-4ce5-8111-5b85812957cc
Should be free to view. No direct mention of OXB but Car T gets a mention.

Reason to buy back in imo!

I was content to buy a few today at sub 6p. Not happy because I am still in the red overall but willing to wait for good news and the smell of burning shorts.
What do I define as good news? A well with large reserves guaranteed to produce at least 10,000 bopd without too much water, at a cost of around $20 a barrel? 20,000 bopd would be fantastic but one has to be realistic.

Anyone done some tech analysis of BKY there seems to be some support at around the 25p mark? A volatile few weeks of trading but is a meaningful trend emerging?

Encouraging....but not set the markets on fire.

Where is it? I took profits some weeks back as I felt uneasy about a solid offer coming through. Hopefully I will be proved wrong and investors will be rewarded but it seems to have gone very quiet with regards the bid. Investors should be wary because if nothing comes of it the sp will at least temporarily dip.

https://www.ft.com/content/5f13f853-f64c-4a07-9293-f33840154f1d
This probably behind a price wall but essentially the gov saying oil and gas plans all put back by a couple of years due recent events. Nothing to panic about but holders may have to be patient.

Hi Fred, in your opinion how much oil is down there and is it recoverable for a sensible price? I can appreciate your anger but it is all relative, some of us invested late and in my case paid 7.7p ish for 60,000 shares so I view HUR as a bargain basement punt.

Clearly if you invested at a higher price and tried to average down then HUR looks like a complete dog and Trice a dangerous egotist who refuses to admit he is wrong. Other than we shall have to wait and see I cannot offer any other insight but I would be interested in your view on how much oil is recoverable?

Hi Candid thanks for posting useful reminder about the administrative hurdles that need to be jumped before mine construction commences. My hypothesis is that some progress has already been made and this information has leaked hence the significant volume of trading on the Madrid Exchange.

Over the next year I expect to see a steady trickle of good news from RNS which will lift the sp towards the 60p mark. While I might take a little profit in due course, if the mine goes ahead as hoped and Uranium prices continue to rise then this will be one to keep for years to come. Quite a few "ifs" in there so readers should DYOR etc.

Hi Quelfromage, There are a few of us who have been commenting here for quite a while and I raised the same concerns, "is this a pump and dump scam" but as was pointed out the volume of buying on the Madrid exchange far too big to be a simple ramp.
Having worked in Madrid many years ago (2008) I learned that Spain has its own cultural business practices and that patronage and insider trading the norm. My hypothesis is that both local and national government want this mine to progress and that behind the scenes the permits are being pushed through. Those in the know are getting family and friends to buy shares now in anticipation of the official news being released.
Buy on the rumour and sell on the news if you are willing to gamble on a quick buck but I prefer to hold as I believe the EU will, for energy security reasons want a Uranium mine of its own and this is it.

http://www.auraenergy.com.au/investor/ASX%20Announcements/2020/Panel%20Declines%20to%20Conduct%20Proceedings.pdf
I would not invest until some clarity emerges about who controls the company and whether it is a "going concern"? I have no doubt someone will in due course exploit the uranium acreage in Mauritania and vanadium resources under Sweden but fear small investors here will get burned in the process!

https://www.heritage.org/europe/report/spains-economic-freedom-improves-post-covid-risks-are-enormous
The permits are probably on the way because the Government in Madrid is waking up to the enormous damage their eco policies and Covid have inflicted on the Spanish Economy.
Even stupid leftists have to face hard economic facts now and again and Spain needs mining jobs and wealth creators willing to invest in their country because just about everything else including tourism is screwed.

Boils down to Shorts v Fundamentals imo and I believe the shorts will get burned soon.
HUR is trading well below Net Asset Value because of geological problems in its two wells but that said it is still producing between 10,300 and 12,000 bopd, Brent prices have recovered, debt levels in HUR modest and the share price is 7p.

Punj I bought a few this morning as my gut feeling is that there has been progress on the permits and this has been leaked but until we see an RNS it is speculation. I need to make some serious money here before it covers my old losses so hopeful but not foolish.

With some global market speculators willing to buy shares in Hertz after bankruptcy then I think BKY would pop by 200% in a few days if....and it is a big if.....the permits were granted and mining could commence by year end.

That said this might just be a well organised Spanish Pump and Dump scam that has decided to use BKY as the business story is a plausible one.

No RNS, no news yet up again by 13% at time of posting. Time to gamble and top up imo.

Nolo....we live in a world where investors piled into Hertz shares after it declared bankruptcy and they rose 300%.
If the same traders decides IMM is the next big thing based on no more than rumour then the sp could go anywhere.
Hence so many rampers on BBs like this because once a share starts to gain momentum it gets spotted.
I am content to hold, wait for the science and buy into dips in sp.