George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
With only a single well producing and deafening silence from the company we do not know how produced water cut is developing. I have previously had in mind the single production well would go uneconomic sometime likely 2nd or 3rd quarter 2021 due to greatly increased produced water. Until the company tells the world otherwise, then it's still a possible or even probable outcome. If it comes to pass, it's game over whether you are a bond or a shareholder. I seriously doubt water re-injection in this fractured reservoir is viable. It's very binary now and the longer the silence carries on, the more doubt there is about early decommissioning on Lancaster. Don't forget, a few weeks ago, the money was set aside and ring fenced for this eventuality. Why? You may ask yourself?
Once you get set up in your II account you can use the secure message function in the account to request assistance. But obviously you need to be set up first. Good luck, II are vastly improved on where they used to be a few years ago.
Pick up the phone and ask II. They are very good and will certainly help you get access to your ex TD account.
Past history amply demonstrate this stocks to be highly leveraged by leaking information both on the upside and especially on the downside. It will no doubt continue to happen here. The little guys on the outside stand no chance.
Indeed, we never found out why the previous CFO suddenly left. It was a mistake that I didn't follow him out the door with my own holding.
"Could Dr T have been so incompetent?"
Yes, he could. And likely has been.
You are lucky, I am in here at 30p.
+ve news on Lincoln tie back in an RNS soon? HUR has always been very leaky with news both upside and downside.
I am hoping there's a good RNS coming. It always leads out from HUR. Mates always know before we do. Today, starting to look a bit more hopeful if I am right.
Thanks a brilliant read. If only I'd have known.
The deafening silence from the new bosses is not doing them any favours. I really do wish they would give us dome idea of what is going on and how the AM is performing with respect to water cut etc..... I conclude there's nothing good to say at the moment. Which in itself is a concern to me. I do still hope for the best here. 30p and talk of ten baggers was pie in the sky, sadly.
"Agreed. Post COVID-19, there will be a surge in demand for travel and the major lack of investment in O&G industry will in my opinion, result in a huge supply deficit thereby, resulting in much much higher crude prices ahead."
The only question really is when, not if.
Given the very, very low investment in finding and development of new resources, it is a matter of when not if, there is a supply side deficit in the market place. I am 100 per cent confident of it. Globally there has not been even one oil production mega project started in the last four years. Not even one.
We must be due an update on watercut and production outlook given the uncertainty the last few months? I am extremely disappointed at the silence from the new management. They have everything to gain by being open and sharing what we all hope is good news about watercut stabilising and production rates steadying. The silence worries me hugely.
"What’s production at now....?"
For water or oil?
"Hmm.. an initial period of 3 years... I suppose that would mean that HUR will have AM for another 3 years+?"
Not really. Bluewater may well be looking towards making the vessel as attractive as possible to another company if HUR pull the plug on the whole thing.
The company goes into voluntary administration. Likely when the single production well waters out and production becomes uneconomic.
Heard it all before. Trice told us the Lancaster wells, both of them, were "world class producers". He was being extremely economical with the truth and cherry picking data in the extreme.
......on the other hand........
Toxic Trice ruined my weekend months ago. Now, just sitting here awaiting the inevitable end game.