Member Info for elir71

@dai4belts Greenfield's (Tomco + Valkor JV) product is not directly suitable as a ship's fuel unless they leave significant amounts of the solvent they use to wash the hydrocarbons off the sand, in the product. It needs MSAR as the final process to emulsify the output from the POSP.

quite so nookie there's over £1m worth of warrants to go in 2021 at least

@TullyCrow
as the 0.32p warrants are exercisable until 6th November 2021 (please correct me if I am wrong)
then what would be the point of exercising at this point because with warrants then the intrinsic value (SP-EP) is held without the need to commit capital (i.e. paying for the shares a holder is entitled to buy at the exercise price).
Holding the warrants exposes the holder to an upside
After exercising the warrant, the holder it exposed to a downside as a warrant only gives an option to buy those shares and not an obligation.

If you were a warrant holder concerned that the SP would drop below the exercise price, you may not wish to risk waiting for the end of the exercise period, exercise now and take your profits. As that is minimal at this time due to low intrinsic value then it seems a bit pointless to realise a few thousand pounds.

Bear in mind that theres a lot more 0.32p options that remain unexercised.

Id keep my eye more on the 0.42p options as they expire much sooner, so a buy to hold is a likely outcome there. So I'm quite confident of the SP being well over 0.42p by the end of March 2021, the exercise date .... and by magical coincidence ... just after the time the assay results are going to be released.

The interesting thing about the expected product from Asphalt Ridge is that it does not contain any significant amounts of sulphur. It may be possible to use it without scrubbers which opens up another market. On the cargo ships I've been on then two different fuels were used .. Heavy Fuel Oil (and now Very Low Sulphur Fuel Oil) (HFO, VLSFO) and then MGO Marine Gas OIl for Sulphur Emission Control Areas.

https://en.wikipedia.org/wiki/Emission_Control_Area

Near UK then English Channel east of 5 degrees west
North Sea South of 62 degrees north and east of 4 degrees west
All of the Baltic sea
It may be possible that the product from Asphalt Ridge may be suitable for use in ECAs (most near US waters, caribbean etc)
without the use of scrubbers which are probably not practicable on smaller vessels such as coasterrs

Re Warrants
I'll re post my estimate of the position re warrants https://docs.google.com/spreadsheets/d/1Gw7zD77eS4UhpM2hIMpwJQrBoCgYghx9q1-24FDyLdc/edit?usp=sharing
Although I am surprised at the timing of the £30k warrants exercise it makes no alteration to the company's fundamentals whatsoever. What I would take more note of are the 0.42p warrants exercisable until 27 March 2021 and held by GF and other staff.

QA session ... questions I have
1. What budgets are being allocated to each of the Greenland projects for 2021 ?
2. Is this sufficient to attain JORC for Amitsoq in 2021 ?
3. Are current cash resources sufficient to cover this years exploration without a further placing ?
4. Do you still believe that it is possible to achieve production at Clogau by the end of 2021 ?
5. What is the rate of production at Horse Hill ?
6. Is Alba deriving any cash revenue from Horse Hill as yet ?
7. Will current covid travel restrictions prevent our Greenland goals from being realised this year ? do you intend to use Greenland based drilling / exploration contractors ?
8. What further permits are needed to dewater lower Llechfraith levels ? What timescales are envisaged for this ?
9. What budget is provisionally allocated for repairs for low Llechfraith levels ?
10. What budget is provisionally allocated for equiping and exploring Gwynfynydd ?
11. Are current resources sufficient for funding Wales projects up to Clogau production ?
12. What budget is allocated for next phase for Limerick for 2021 ?

there are baout 10x that many 0.32p warrants remaining outstanding and theres 0.42p warrants expiring end of march

@Yanis I cant see many good reason to exercise a warrant with several months left to run and hold the ensuing underlying security as you're already holding in a sense anyway, without commiting capital. So then there's exercise to sell .... ok, Bergen dont hold long usually as they want the cash for their next projects, so it could yes be they're exercising to sell and judge the wait not to be worth it.

I believe that all the remaining 0.32p warrants expire on 6 nov 2021
https://docs.google.com/spreadsheets/d/1Gw7zD77eS4UhpM2hIMpwJQrBoCgYghx9q1-24FDyLdc/edit?usp=sharing

correction Mobil Petrel

https://assets.publishing.service.gov.uk/media/54c149b9ed915d1597000022/MAIBReport_MobilPetrel-1989.pdf

Didnt end well, but it wasnt due to the engine

the existence of these warrants is and has been in the public domain. Why are people surprised ?
that said .... If I was a warrant holder then I'd probably look to exercise them when teh SP is higher ... much higher

It is an unknown whether any party will inform us of the dispatch or receipt of the sample. I have seen no statement that clarifies any commitment to release this information.

Mobile petroleum was a steam ship that used water fuel emulsion manufactured on board many years ago. Just did a course with a chief engineer on board at the time 20 yes or more ago. He said it worked very well very clean burn

Should get gobbled up OK.. Nothing to dilute on posp news now

And about 0.5m T from utah when the posp 5000 x2 are built

https://twitter.com/QFIPLC/status/1354082383302156298?s=20

1000 barrels a day.... Double what I thought

6i don't value Welsh gold in my analyses at anything more than its elemental spot gold value. It still works for me

Wrt to.. It was never going to be...
Then the Sept Oct bulk sampling rns did not mention a timescale nor their intention to process themselves.

I've explained why I think results before 27 March, but obviously don't know. I'm working on the basis of some time in March. If you disagree with my rationale.. fine.. I'm quite willing to hear different views. Im not here to be the butt of insult, if you don't like what I've to say, filter away

I had guessed incorrectly that the assays would be out late Nov or December 2020. It was based on both personal experience of lab turnarounds and Alba's previous lab turnaround of two months. There was no intention to deceive or misrepresent and I explained at the time why I thought of those timescales. What was not known, was that the company intended to process the samples through their own plant and that the final modules of the plant arrived after the other.

Now imagine this .... if you are the BOD and you're watching the gold being produced by the plant from the 36 T ore, you couldn't go out and buy more shares yourself (or your buddies, granny etc) as it would be insider dealing. However if you had about 149,404,761 warrants exercisable at 0.42p and that exercise date was eight weeks away, then there would be nothing stopping you from issuing good news in that eight weeks if you thought it would push the SP beyond 0.42p

In the current market then 0.55p is shown to be achievable on sentiment alone
So with a big publicity package etc then I would imagine that there will be a fairly sharp rise ensuing ... and I would imagine that it would be well before 27th March.