George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Likely true Riffgo, more importantly for me is months [few] for Sangomar coming onstream with c.95% CAPEX complete and >80K BBl/d onstream, all oil. Adds c.7% to production/cashflow plus additions from Argos/Mad dog. Divi is poor right now but prospects strong down the line. I'm keeping a close eye to divest some but keenly aware that prospect longer term is very compelling.
Roofer, don't normally chip-in here but 68.3 for me please. Gutter,..... just declare you are short here please as it's all getting tiresome with the bad feelings. I've seen your posts elsewhere and the Somerset Massive prose style really has worn thin given that elsewhere your use of language is clearly perfectly normal. Did you ever buy any BP shares or did you have a bad feeling there too.......
You need to read the Q4 report. Final Results 27-02-24. Divi announced there/then. I'm expecting 90p-£1 range, although OP lower production has grown, again, you need to have read the Q3/Q4 reports. The only issue is the right down on Shenzi but they stated in Q4 report that the event there [write-down] will not impact final divi. It looks to me that they were a little skimpy on the interim given the drop in the OP, so could well be some upside on the divi but as said, 27-02-24 before it comes out in the wash. I'm hoping for an SP rise to >£18.50 but too many externals in play at the mo. OP, Putin, MidEast, Ukraine, POLITICS us/uk..... and the list goes on.
Happy new year to all, the issue here is non-delivery. Take a look at the trades, five here today. Mr Market and the share buying populous simply don't buy the lines being fed due to the track record of jam tomorrow, puppy dogs and rainbows and all of the "high potential portfolio" [Eire, Wressle, Cloughton, Serenity, Broughton N and now W.Africa...] as it's non-delivered or wildly behind schedule. Their presentations /video's are not moving the dial because it's viewed as promo-waffle. The snowstorm of RNS releases are a response to the shareholder pressure and the vague sense of potential jeopardy for their jobs, behind it all there is a distinct lack of actionable, credible progress. I accept that nothing happens overnight and the SP is showing a small uptick but that's meaningless if they don't pull their fingers out and get some of the blue-sky delivered. The issue is their track record says they don't.... get a wiggle on Will. Best of luck all....
Just on debt, I recall VOD buying back kerzillion shares over the last two years which weren't cancelled, as I recall, sketchy here on memory, but my reading of the purpose was to cover bonds which could be redeemed with shares. They'd have been better off keeping the cash as they were buying back at £1+ however, is that factored into current debt calcs? Also, they don't pay divi on the treasury shares.... Happy new year all longs
Y11, "depending on your tax situation you would have to pay tax on it or it would at least come of your tax free allowance." my BP shares are in an ISA, you'll probably have to read up on that. Uncledoug, I'm with you buddy, 15K over a year. ATB
Sorry guys but I'm out, I read the RNS and it rang serious alarm bells, my 1 mil sell went through shortly after 8am following it's issue. I think RR is significant but I'm not going to be looking for a chair if the music stops, a small loss for me. If SRES gets through the next six months I may return as I do view some potential here, in any case I wish you all the best of luck and hope my interpretation is utterly wrong. GLA.
Paul, that's the key issue. There is little point in adding in the high GOR reservoir if they don't have gas export/GTW in place beforehand. I can see them drilling a well and then sitting on it while they work out how to handle the gas. I'm shocked that they don't have an integrated plan to sell gas or power, even uneconomic at current volumes, so they can raise production rates on W1 / deal with added production from "pending" wells. It's being operated like chicken night in Turkey. They will almost certainly need compression/process to sell gas, are there any Wobbe Index / calVal issues, what about inerts, trace components..... if that's all an issue set up gas to wire before starting drilling. I agree with you that there is enormous upside potential in Wressle but the inertia of the operator is highly discouraging and a surprise given that Heyco now call the shots. It's not enough for Will to seem frustrated - kick ass. I'll probably sell in the first window of mild profit after AGM. I think Eire is a very long shot now though I'd love to be proven wrong.
It appears you guy's don't do enough research. The going rate for Gallium is currently $600 PER Kilogram, or $600,000 a ton. When you add in Zn at $2500 a ton and Pb at $1600/ton [it doesn't like tonne...] and possibly some silver you can work out that this is a potentially super-valuable resource. I'm rather excited by this Reece Ridge prospect. All those values are for refined product, however, the USA is one of the main Ga refiners, with a shortage of home feedstock.... I think it will take a while for the market to awake to the significance of this RNS. GLA
I've already voted my shares [through IG] in line with Paul's plan. I had no issue with the company accumulating revenues from Wressle to invest into the company but the level of remuneration increase is simply unacceptable. I've pointed out that as they have "awarded" themselves £800K in take-aways it would only be reasonable to give the owners [shareholders] an equivalent take. I've suggested a 0.1p/share divi as the £960K it would cost is broadly equivalent to what they have donated to our employees. I'd suggest that a near 10% dividend might do a power of good to our SP.
FYI -
https://www.iied.org/sites/default/files/pdfs/migrate/G00556.pdf
GLA
Looks like GEM management have pretty clean hands in this bribery case:
The charge states the pair allegedly sought a bribe to ensure "legislation would pass in the Madagascan parliament to allow Gemfields to commence a mining operation".
Prosecutors said at a hearing last month that Gemfields had approached Britain's National Crime Agency (NCA), which deployed an undercover officer who met with Andrianarisoa and Tabuteau in London.
Press report from today, just hoping the SP does move forward soon. Very undervalued for the yield. GLA