Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
I wonder what the cos would have been if we’d not wasted 18 months doing seismic? I suspect it’s the permeability element of the cos calc that has been dropped to single figures now, hence the 14% cos. This reflects so badly on Jp and JJ, but especially Brian and the technical team imo. Sad day :-(
Since when did this company set itself up as such a poor odds punting shop? Like I said many times, it’s clear as day now surely to even the most deluded that JP has not communicated the nature of these drills. No one here would be invested if you knew last night it was 14% cos on the only significant target for this well.
Oh dear, it’s all come crumbling down. Talk about under promise and trying to over deliver! They’ve quietly halved the CoS since the DD. Seems they’re even less confident than posters on this bb. Explains yesterday’s sell off possibly, some got wind of that. Have to agree, why we are wasting money on a 14% cos well is beyond me.
Oh my, TIMBER...!!!!
Has anyone heard from the cheeky chap recently, or has he already broken up for his Christmas holidays?
SO, that’s hardly reassuring to me. It’s like saying it’s the best of a bad bunch of options here.
What makes me less hopeful swrxf06 is that nothing learnt from te9 has made any difference to the location of the te10 drill. for me it's as simple as that. whatever understanding they had pre the te9 drill from the seismic also informed the location of the te10 drill. so errors / misunderstandings made on te9 also apply to te10. i would have been much more comfortable / confident had they paused, reassessed / processed the data (or whatever the f else they need to do that looks less like spinning a 10 sided dice) and relocated the te10 drill site. the fact none of that happened - don't kid yourself, none of the learnings that will materially impact whether we encounter oil/gas from te9 have been taken into account re te10, they simply can't have been.
would really appreciate opposing views on that....
Big selling still going on following in from size sales yesterday pm, 800k trades at 7.30 a few mins ago. Interesting.
Exactly sman, there were at least 2-3 yesterday and a number before.
I am invested Sardy, I’ve made that clear.
Christ Jay, are you as thick as you sound or is it a little early in the morning for you? Suggest you go and re read it. I’m well aware of what cos is and how it’s calculated across the separate drill targets here. It seems many here aren’t though, I’m guessing you included.
Lol, yes I did thx Sman. Thanks for the noddy lesson. I was commenting on the way posters were implying the appraisal cos on r1/2 applied to the deeper targets which are exploration and not appraisal.
Dads, not sure what your comment refers to. I thought it was more important the ceo and their team “help” the company they work for? Anyway, I assume you’re really referring to me having been one of a handful on that bb that has called SOU’s demise and the reasons for months now. Have to say, I had thought you were better than that post, but hey ho. Looking forward to the next 3-4 weeks here.
Glad to hear you haven’t been in sou for the last 18 months the Sardy.
Ok so just for the first r1/r2 target, right? There are 2-3 further more material targets where the cos isn’t that, at all. Posts seem more than a little misleading on that detail.
Assume you’re new to oil and gas. No I’m not joking and I understand the local production. I’m asking about the 90% cos figure people keep posting about. It’s either something the company put out, in which case pls can someone point me to the reference, or it’s made up bs by a couple of amateur bb idiots in a misguided attempt to show things in an overly generous light (aka ramping the arse out of it). Which is it chap?
I’ve noticed a few posters are talking about a 90% cos on this drill. I’ve been around this industry since 1996, and I’d like to see where that % cos comes from if anyone can point me to the rns or interview. My understanding is 90% cos is impossible as it’s a cumulative multiplication of 6 different probabilities so each one would have to be 98% probability of success to get a 90% cos on this drill, sounds implausible. Thanks in advance for the reference.
no Crude, SOU doesn't need any help from me on that score. I'd say the way JP and the team has performed recently they're doing a remarkably good job at driving this co into the ground on their won. This is a minor investment bb ffs, you honestly think anything anyone writes here affects the sp? Better off looking to a far less comfortable reason for the sp performance - i'd start with your mate JP.
Lots of selling out there, down 5.6% on the day. Feeling like the rally to over 9p was perhaps a good ole pump n dump? Watch out below....
haha think what you will Spunken, doesn't bother me. Just go back and I think you'll find my scepticism about this team and the company have been far more accurate and well placed than your view on this 'investment'