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I’m sure I would rather LK invest our money than have it sitting in a bank account. I agree there needs to be clarity on the cash flow positive statement and that full clarity has not been shown on some of the figures. But I have to wonder why BigMJ and Schroders have put such faith into CERP and her team. I’m happy to follow them for now and see what can be extracted from the SWP, after all, this is what it’s all about and so far LK is playing a blinder. IMHO the next 7 months are going to give us a strong guide on CERP and the direction she is heading. My gut feeling is north...
Hello Ross... I prefer a balanced viewpoint. There are plenty on here who have rose tinted glasses which doesn't really help. If you have evidence of any of your points, always happy to look it it. If its just speculation and supposition, probably best not to post it. We have a road map laid out by a recognised industry professional. He has inherited a bit of a Pigs ear if I'm honest and he has stated that, but the silk purse is there. He has kept us informed of his deals and quite frankly pulled off some great ones in the time frame. We have a good foundation for a spectacular 2019 ( market allowing... even LK / CERP cant be blamed for that one!! ) Dont get me wrong, there will be issues / problems to overcome which may effect the share price, but if just one of the 12 targets he has set out hits a low end of prediction find, our company will be transformed. Good luck with your shares, I hope you have the sense to put just a little amount into CERP, the down side isn't huge, but the upside could be enormous. DYOR as these are just my personal thoughts.
You may have to wait a little longer Faz... get on with something you have control over, this will resolve itself eventually I have no doubt.
That was meant to be ‘not’ not it! Oh and my BEP is £0.22 across my very red share portfolio.
Yes Faz, a few years, but will it make the same mistake again re sale price though, should have got out at 7p rather than topping up!! 2019 will be transformational for CERP, not certain you will be able to retire, but that AC Cobra ( built a replica in 1989 - beautiful car. ) could very well be a reality. Good luck to us both and all the other long suffering LTH’s. Gibbo
Patience Faz, if you need the money now, you will lose quite a lot, but the news stream coming out over the next few months may change the whole outlook of this business. Let’s say for arguements sake we actually hit the Gorilla... 400m barrels. With say a 20% recovery rate and say $4 per barrel value... $ 320m added to our valuation and its all on shore! Goudron pays the bills, SWP is the cake and icing. So, it’s an SWP play and given the geography of the region, I’d say we have a pretty good chance of hitting something and oddly enough so does Leo and his team along with BigMJ, Schroders etc etc. Roll on 2019 and all the fun things we have in store. But, not wishing my life away, we still have 9 weeks of 2018 to enjoy, and there may be some fireworks to come...
Surely even you, LLL,can see that we are a completely different company from LGO.
Follow the money.... BOD putting half their salaries into shares, Big MJ and Schroders ploughing more money in we have a new II in Burggraben which sounds suspiciously like a fund from where the original owners of Steedrum are from. We started this journey with LK and his crew back in early 2017. They have literally knocked down and rebuilt old LGO into a solid Columbus platform. He has always said this is a 3 - 5 year plan, personally I think we will know mid next year as to which way this is going, I for one am very excited about the potential of this business. Mr Purple gets my vote, even with a bit of dilution.
...and your point is LLL? I'm all for a different viewpoint, it stop us all getting too carried away. We have acquired another company to strengthen our current standing. We have resolved the outstanding BOLT deal with much improved terms. LK and the team he has built around him have and continue to keep us informed and upto date, without a deluge of sometimes irrelevant information. We may not reach the dizzy heights of 10p by Christmas, but I would rather have my money here than in LGO., I am sure even you would agree with that.
CRND have had their mining rights rescinded ( you couldnt make this up ) and are now negotiating with the Govt to re acquire them. The issue surrounding all SA businesses is that they now have to have a full reflection of the diversity of population in both colour and gender. Whilst I can see how this would work in theory, the practice may be a little harder to implement and it looks like CRND havent done so quickly enough.
Copy of latest email:
Right now it depends on if the plant can operate without the mining right. If the answer is no, zero chance CRG can survive. The new board is still working with the government to get a tailing deposition right.
I think CRG has lots of potential even it lose its mining right. As there are lots of tailing materials around us. It is just the previous management left the Company with huge debt (about USD3-5m). And it is difficult to get substantial funding.
Not sure what else can be added to the above. It is going to take a considerable amount of time, effort and money to unlock the CRND fortune in Gold, but given the current SA working environment, its not going to be easy.
Simon
Only 3 weeks ish until we see the 6 month results, some of the recent conversations on this board will be superfluous IMHO.
IreneKrapp, I can see a low SP if we stay stationary and dont improve / add to our ever expanding portfolio. I'm not certain after having seen the recent and historical videos of Mr Purple that he is the type of man to do that, stand still. He has a vision and so far, I have bought into that vision. I am a little disappointed with the share price, but given the current figures for production, I can understand why we are where we are. The next two main 1/4 RNS's will give us a much better understanding of how we are doing and if we are on track. Good luck with your holdings.
min 200 bopd for approx $4.3m... thats 1 years worth of income at the base level, before we add our touch of Purple magic...
BigMJ... whats your take on this?
Crikey LLL, I bloody well hope not... been around this share for a number of years and hoped we had turned a corner. I cant except that Mr Purple would take on such a challenge without doing his research and then roping his mates in to help. Taking 50% salary a shares is another positive approach for investors along with stating publicly that no new placings are required and if they are, they will be acreative. So on balance, I hope we are still heading in the right direction. We are in a much better place than we were 18 months ago thats for sure, and we have Schroders as a cornerstone investor, you couldn't have said that under the old regime. Still only time will tell... Remember whereabouts in the world we sit and the acreage we have to play with... its not a sure thing, but its pretty damn close. In the immortal words of David Davis..'I could be wrong'...
Although 0700 is the preferred time, RNS's can be released at any time during the day... we have 48 hours until the AGM so I guess sometime between now and then. Exciting isnt it! We are on the cusp of something extraordinary... I hope!
Some slighty better news - we are making approx 2.1kgs of gold per week and yes, it is sent out by Helicopter. The details from the concentrator unit wont be ready for a few months yet, but the signs are encouraging. We are still losing money & require 3kgs per week to break even... the target for this concentrator is 6kgs per week, and if it works, it will be the first of many concentrator units purchased. We still have a long way to go and I am not scheduled to talk to anyone for another 2 months. DYOR. Simon
Fair point Ross, we will have a good indication of where we are in the not too distant future.
Unless I am completely mistaken... CF+ since December, circa 600bopd equates to turnover - $14m. Improved terms on existing deals, new deals in pipeline. Drilling to commence in 2019 into the worlds largest oil deposit ( circa 300billion barrels of proven reserves ). I agree there are a number of issues we have yet to overcome, but so much potential and relatively cheap to exploit. I wouldn't bet against a few of the majors circling if just one of our drills in 2019 comes to fruition, even at the low estimates... just my opinion though.
Cant remember what the target for the top 10 is and to be fair its just a bit of fun. I'm adding monthly at approx £1000 per month. I'd like to be at 1.5m by xmas were i will pause for more concrete news / figures which we should have early 2019.