Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
As I understand it.... 20 days for drilling and wireline logs. Then a RNS from the log results a few days after. What we will not get - updates during drilling.. From the different sheets we're targeting.. Ref "tight hole"
PRD is currently valued at c. £40mill. With all the projects. And the massive upcoming drill which alonencan unlock fantastic and transformational values for the company. Very good risk/reward!! In Norway we have a lot of "green wave" companies that IPO'ed last year. One of them, Aker Carbon Capture. Lost £2.3mill Q1. A lot of talk. Are they ever gonna earn money? Currently valued equal to £1000mill (£50mill cash). 20 % down from 2020 ATH. And we have similar and worse stories. I've said it before, as a joke, namechange to Predator Green Energy Solutions and list it in Oslo.
Jokes aside. I consider this stock as cheap with PG and all his skin in the game! If we hit something big in Morocco.. Hmm.. We still have CO2 EOR in Trinidad.. LNG Ireland.. LNG Morocco.. Some potential offshore stories... At £40mill in todays market.
Things starting to materialize smoothly and Predator is really in the middle of it all. Valued at a £38mill mcap. Green credentials. People will wake up sooner or later and my stocks are tigthy held until this stuff is fairly valued.
And then small/midcap o&g co's. I don't have too many of them, but I struggle to find bargains in any other sector. Many companies are undervalued, but TXP needs the cashflow and to prove the ability to monetize on the fantastic prospect(s). Once it's onstream we will get a re-rate for sure.
It's all a matter of (lost) confidence in management and impatience. To be fair, I can understand why. The timeline at Coho has been awful - Covid or not. I don't blame the management, as I think it's due to the NGC/government, but would be great to have some gas onstream...soon....this year...
And the news at Chinook. At least it's only upside from here. Maybe a surprise at some point.
This seems like a big problem with all the affected industries and millions of lost taxes etc. Must be a fantastic reason to speed up the pipeline project(s). Things are moving so slowly in Trinidad...
The CEO of Predator has stopped talking about timelines for the Trinidad project - "always ending up shooting myself in the foot".. I think PB feels the same way, but he should probably stop mentioning timelines as well. Always disapointing the markets (short-term).
Looking forward to the presentation on thursday. This volatility is great for topping up. We all know we are in a difference place in a year. Just need to get all the coho(!!!) and Cascadura gas on stream! Once it's on stream, we will have a great plataou and probably a dividend in 2022.
But I'm still in the club of holders who would like an explanation over what went wrong at "world class" Chinook which made me lose a lot of paper-gains (short-term). Hopefully on thursday.
I would also like them to speed up development drilling and the pipeline at Cascadura instead of new prospects - after Royston.
PG hasn't sold a share. Neither have I! If he thought the Company was overvalued at £45 mill, I guess he would sold a few? Not fun to see big paper losses, but nothing had changed last 14 days. The effect of the low free-float is both ways.
Great stuff, Bully! Do you mind sharing your calculations for the 1.67 pr. mcf free cash flow?
The question is, how many new Cascaduras/Carapal ridge can they find? Royston can be even bigger.. With new rig(s) available it's gonna be a lot of drilling. Exciting times ahead,but patience needed. Cascadura with full development will make a lot of cash!!
Great stuff! Thanks! Just a bit annoyed with the updates (RNS) from the Company. I feel we need an fair explanation of how Chinook "world class gas well" became a -potential- oil well. As PB said himself, the Company is mainly a retail story. So tell us! We deserve it. I know it's exploration drilling, things happen etc... But the interview with proactive indicates something not written in the RNS. Chinook is considered a duster by the market, so will probably surprise to the upside at some point.
If it's a duster, you don't need to be a rocket scientist to understand that the SP will take a hit. Short-term.
If you're in now, and with success at MOU-1.. Let's say 50+ bcf (good COS) and the SP following that. If they then do a raise to drill a few wells... The dilution and impact om SP will be minimal. All about risk/reward!
I'll say thats a very good strategy! I'm closely monitoring the mcap pre-spud. The Block needs to be proven up with the first drill. Ortoire has already proved to be fantastic. And the best is hopefully yet to come! Just need some patience for 2021 and 2022!
After listening to the latest Proactive interview.. The way I hear it. And some people already mentioned it. Did they actually damage the well when testing? And therefore all the precaution when testing Cas deep. Anyway, it's probably a learning process. And they're learning from their mistakes. Who can blame them.
Off-topic! I wouldn't say I disagree.. But, to be fair. PRD is on the main list. Not aim. Diversified businesses. Looking for a tcf of gas onshore in june, 2km from pipeline. A mcf is worth ~10 usd~ in Morocco. CEO owns 25%. Even if they find, let's say, 50 bcf (high COS) its worth multiples of todays £45 mill mcap. I'll say - many similarities to "early" TXP. The Block is drilled some decades ago with gas shows. I like (and own) both!