The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
It’s high risk/potentially high reward - i don’t think anyone doubts that. Discoveries have been very encouraging, execution mediocre and guidance dire. To Dunder’s point - they are still a very small company and it’s acknowledged as a bureaucratic and sclerotic place to do business. They get some credit from me for getting this far.
Joey - i would expect txp to become better at delivery as they bed into the local culture. Covid was also a factor in recent years which has become an ongoing excuse for public service malaise worldwide. Nevertheless, the conversion timeline should improve albeit, this will never be as quick as people expect. I believe you were looking for circa 120 to get out - i personally think you’ll get that before year end unless there’s a bombshell on cascadura. I also suspect cascadura is a lot bigger than currently stated. They stopped due to incontrollable pressure before reaching the ‘deep’. We shall see. To date, i have been horribly wrong on txp…..
…..thereafter it’s anyone’s guess. What is apparent is that they have a 100% success rate in finding hydrocarbons. Whether they are commercial and whether txp can bring them to market is to be determined.
Joey - my impression is that the market has already dismissed Royston. As such, it would be rational to believe it won’t make a great deal of difference. That said, no doubt there will be much angst and wailing if it’s again a disappointment. The ‘hedge’ is Cascadura. The fact that’s not a miilion miles away means that riding out any Royston disappointment shouldn’t be for too long. The sp simply doesn’t reflect the value of Cascadura let alone any ‘bonus’ from Royston
Pretty poor really but I guess their average punter is investing uk only
https://twitter.com/TouchstoneExp/status/1640389815047950336?s=20
…..and oil drop has reversed
Canadian bank holiday so exchange is closed. As such, an RNS was highly unlikely:
Thanksgiving Day - Monday, October 10, 2022
https://www.tsx.com/trading/calendars-and-trading-hours/calendar
This is the notice:
https://twitter.com/TouchstoneExp/status/1565159944894414848/photo/1
https://www.londonstockexchange.com/news-article/TXP/approval-of-cascadura-cec/15588224