Member Info for elir71

@NBFM1 I see your point about the uncertainty of the product, however, there should be some evidence from the POSP500 of uptake from customers.

At Gwynfynydd processing equipment was in the mine itself I think. Good for both security and noise, plus spoil could in part be dumped in worked out stopes

My understanding is that bulk samples which are from a time after the sep Oct underground samples will be processed by the new plant

Wrt Greenland. I'd hope amitsoq at least gets done in 21, hopefully tbs too. Hopefully vaccines will make this possible.

I was wondering about the outcome of Limerick. It could have a relatively quick turnaround

I've taken some elsewhere, a minority of my holding. I wanted to up my holding in another share I have as positive news is unfolding there first. I'd have done the same vice versa in different circumstances. I've noticed the sp at present seems to react to media coverage rather than fundamentals,. so I'd probably have time to increase my holding as I'm a regular at the 0700 stand to. Part of me thinks that I should buy at 1545 and sell everything at 0800 and repeat, given that the strongest probability is a 0700 rns

Yes I remember your questions. The figures did add up, my concerns were more about the potential for further business disruption from covid. You'd have to agree, that was a possibility even with a licencing model. I'll be buying back in in the near future

I did voice my concerns about cash resources a few months ago and divested. I'm looking to get back in once I can quantify the cash deficit until breakeven, if any. I think Xeros has a bright future

I'm wondering if anyone on this group with a knowledge of the history of the cornwall mine project form inception to production be able and willing to answer some questions for me ?
Im looking for significant events and dates

preliminary exploration
assay results
PEA
Jorc
environmental and planning reports and consents
mine opening
first pour

I'm trying to work out the impact of each stage as a "de rsik", so i can estimate fair increments on fundamental value at each stage

05-Jan-21 15:20:15 0.494 5,354,718 Buy* 0.47 0.51 26.45k
reported over 24 hours late.
The way I see it, trades information is per se market information and as so market sensitive information. Its very irritating that late reporting seems to be done with impunity. I must say I was surprised at the relatively high price i got for my £1M sell this morning and those similar sells at the same time. it showed a great deal more resilience than I had anticipated, so the market it behaving differently than it was prior to the media splash.

couldnt agree with you more dustofnations

But I think qfi will find commercial deals easier to close when they've broken their virginity

Perhaps a reincarnation of the legendary mr008

@whats so difficult about a rights issue.
What's difficult is seeing others buy the same shares at a discount and being excluded from it.

Look, I know they'll need more funds but I want them to sweat and focus on signing up Utah first, which they could do within 2 months restrictions allowing.

I'm sure they'll get far more cash per share if they capraise after a commercial deal and demonstrable income, particularly with posp5000 x 2 in early next year probable

Re without saying anything new
Yes it was just broad coverage, it went down on fundamentally good news such as Gwynfynydd and parallel vein found. There's a disconnect between fundamentals and sp while there's a limited audience

Nope not like going to the casino at all

The only common factor is risk .. in gambling there is only risk, in fact the odds are against you, so in that sense you have the certainty of losing your money on an average 1:36 slope on roulette.

investing is about making an informed choice about providing an enterprise with finance, which is one of the resources needed to create a return. Those aspects that affect the return which are beyong the control, or the ability to control of the executive constitutes the risk. If there was no investment, there would be no economy, if there was no gambling, then there would be just no gambling

It is perfectly reasonable for investors to form informed opinions on timescales of events particularly as it has a cost, an opportunity cost and can be an indication that progress has hit difficulties. It is perfectly reasonable for the shareholders (i.e company owners) to hold the management of what they own to account. After all, if you owned a corner shop but had someone else run them, wouldnt you feel entitled to timely information ? The nature of the business is irrelevant. You arent a punter betting on a horse, you're an owner

My guess is that the company has the factual report from the laboratory and are preparing an interpretive report or presentation. What concerns me, is that given the timescales.

@smorrisjones
History
*Tomco has a number of leases with similar mineralogy.
*The previous POSP runs resulted in a very viscous material which was only saleable by leaving in some of the solvent which was used to remove the hydrocarbon from the sand, which stripped the product of profit.
*Petroteq has the know how on the process
* the product does not need to be sent to a refinery to make it a useable product, so they arent producting crude oil, they are producing fuel oil, which, from the current source is "sweet", has very low levels of sulphur
*Valkor came in to the project and formed a 50/50 JV with Tomco and upgraded the POSP (Petroteq Oil Shale Plant)
*Alhtough there was a delay due some licence not being issued in time , the upgraded POSP was started on the 4th which was confirmed in this mornings RNS, which further states that it expects the plant to produce product by the weekend.
*Quadrise fuels international QFI have a patented process called MSAR which basically mixes some clever chemicals form Nouryon, water and the viscose output with all the cutting solvent removed and makes a clean useable fuel ... which *may* be useable as a marine fuel, but is in any case useable for other industrial processes ... like fuel for cement kilns of which there are many in Utah. However, QFI have not yet landed any commercial deals, partly at least due to some unfortunate events which were totally beyond their control. Their management have a soild credible background with an oil major specilaising in their Oremulsion department, which is a similar forerunner technology.
* Previous runs samples sent to England where QFIs lab is were unsuitable for testing, which only recently came to light
* QFI's management are therefore on the naughty step, and shareholders have voted against them raising further funds through placings that exclude existing shareholders
* all parties have stated a commitment to providing suitable samples in a timely manner to QFI, so that they can come up with an optimal formulation of clever chemicals
* they will then (subject to being allowed to travel to Utah !!!!!) do a demonstration of it working. It requires MSAR module, which I dont think is there at present, but basically its modularised into shipping container sizes.
* as long as that works ... and Ive every confidence it will, then all that needs doing is to sign a commercial production agreement with Greenfield and we're in business **JASON are you listening >>> Sign a Commercial Agreement <<<
* Greenfield then plan to build a further two 5000 bopd plants (the existing posp being 500 bopd) which will take just under a year and cost US$180M ... Im not sure where the money is coming from, so there might be a bit of dilution, however the payback period is only 18 months ... so that gives you an idea of the profits that are to be made once thats paid off. ... US$120M a year income stream for the life of the resource (by greenfield, so US$60M a year to tomc

The past assay done for Alba took 2 months so they are well outside the window now. That said, for me, it was a pull of unfolding news elsewhere as opposed to impatience here and it was only a fraction of my holding in any case. It may be the case that I can sell the other any buy back in before assay, however if not, then there is plenty of probable upsides in Alba. As I bought in , in the summer then I'm not unduly concerned. Given the sells this morning the SP is holding up well which leads me to believe that there are big buyers lurking in the wings, especially given the late reported trades.

And frac sand

I reduced by 1M as good news actually materialising elsewhere. Not ideal but delays in assay forced my hand a bit.