The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Confirmed fracture as a cause of the saline issue. Ie. Not a more widespread geological and reservoir problem. Important.
There is no binding contract yet. Because it is subject to approval by the authorities.
That said, I agree with the sentiments and believe its a done deal. All parties want it to happen. The Govt want things to move quicker. All good.
Impressive, IMHO.
Knows his brief.
Hope so.
From the half year report:
"Assay results for the three holes are pending as the Company has decided to expand the assay testing to include screen fire assay techniques which will test for co**** nuggety gold potentially identified within the system."
So a delay cos they expanded the testing in these assays.
But still....
Nothing vey concrete or tangible to say. Just signs that the story is getting out there and building up.
A 20% lift on a tweet yesterday. I am getting new twitter followers (cos of Aminex). Interest is building. We all know why.
What does look more tangible is that the Govt are now saying get on with it. The cheek!
Scir deal to be closed, seismic results, drill location, rig confirmation, spud date. All coming. I am expecting the numbers to get bigger on seismic news and although that has never done anything to the share price, it might this time with drilling and then production in the near term.
All very exciting. Am still buying.
Thanks Wolster. Makes sense.
I have zero technical knowledge or experience about the stimulation work such as is going on at Southwark at the moment.
Anyone with more knowledge got any views on timescales for whether the stimulation has worked and then what flow tates might be? Historically there has been a real absence of numbers for Southwark, or at least that was the case last time I looked for predicted flow rates. Maybe because they cant guess pre-stimulation?
Thanks in advance.
Hardnose
Busy too. Thank God. It stops me watching the share prices!
Fragmented geology possible but not found at Ruvuma to date. Big problem at KN1. Not on the mainland.
Massive commercial find and being taken out dosent sound like a risk to me! ;)
Obviously you are right, there is always a chance of operational issues (I am in IOG!). But thats ever present with them all. I genuinely believe that the macro point is that all the explorer risks I mentioned have reduced (arguably disappeared).
Of course with our beloved Aminex there is a chance of us all being dead of old age but, that aside, some more patience will really pay here I believe. I continue to buy so am putting my money where my mouth is (fwiw).
GLA
....just filter people you don't like. This constant "he is a de-ramper/basher don't trust him" is such childish BS.
It also makes it difficult to sort the good stuff from the utter dross. And there still is some good stuff here.
I topped up this week fwi (not much)
The risk profile is changing with the upcoming production plans. And we still have major assay news and the wild card (jv on the copper) as possible.
Not one for the widows and orphans but I will have some more down here, tyvm.
Wolster
They added last week and describe current share price as "a good entry point" though I dont believe thats in the article, if you find them on twitter its in a separate write up of their portfolio.
They believe gas prices are going higher and for that reason IOG are ok.
Thanks Thomas.
I doubled my holding last week at 8p and was happy to do so. Fwiw (not much).
GLA
No way to spin that RNS. Bad.
But reduced production and future production plans in 2 months time must now underpin?
Also, never seen a spreqd like it, sell at 9p but buy at 18p.
I don't think it is beyond the realms of possibility that Ara will just carry on drilling after CH1 is done.
There has been historic talk of full field development requiring a further 6 or so wells. Now they have the seismic they might be able to just keep going. And with an operator their size there is no reason that would mean a delay to production. They are aboe to do more than one thing at once.
New
The operator has said November 2023. Aminex in their results last week repeated this.
I have long thought that there is a reasonable chance of it being put back from November. There is a lot to happen between now and spud and the recently completed seismic might mean full field development drilling is brought forward. It dosent matter because the asset is getting better as it is being proved up and a few weeks/months more don't matter to me. All that said it looks like I have been wrong about that delay (and delighted to be wrong) and the official line from the company recently is November is confirmed.
Aimster
P11 of the May 2022 presentation: http://admin.aminex-plc.com/uploadfiles/2022%20AGM%20Presentation.pdf
I don't pretend to know recoverability and neither does the company yet.
My only point is that if the market valued 75% stated reserve of 2 TCF Mean GIIP (from memory) in 2017 at 7p per share with a back to back drill planned and a quick route to market, it will value a fully funded 25% of 8TCF with an imminent drill and route to market as worth more (there are 10% more shares now than in 2017 - again from memory)