Member Info for Helpful

https://twitter.com/RRR_RedRock/status/1148526713061744640

Shoats Creek is a non-issue, I think in total it was $170k.

On Steelmin and Amulet I have made it clear here what my thoughts were and I have made it very clear to AB to his face.

I too hope that Migori comes good. I expect that it will and AB's public comments indicate that he thinks that it will come good imminently.

On Musonoi, I have had two people look at it that understand these things and they both agree: the right address, good grades but the issue is how much to bring it into production.

The other licenses in DRC look okay too.

In my view, RRR will not have the money to bring Musonoi into production: it will need to prove it up a bit more and then do a JV or sell. The big cost is a "pushback" if one is needed. Ideally you would get some production going before you did a pushback. I did hope that they could do some "test-mining" but the mine has been partially back-filled and that would need to be removed first.

None of the above changes the fact that RRR has some assets that amount to a lot more than the market capitalisation as they stand. If they can be moved on a bit they will amount to a lot more than the current market capitalisation.

We need Migori to come good and then we can move forward properly.

DYOR

EG was impressive on what he said he had done and would do. With hindsight there was a gap between the statement and the reality.

The next step is that the company has to decide which way it is going whilst maintaining or improving production.
DYOR

Great interview.

https://twitter.com/ParaResources/status/1148283282015969280?s=19

How about AB has simply forgotten to remove the charge?

I won't be going. I have already covered all the points that I wanted to cover.

It would be interesting for people to go and get the measure of Paolo and Thom: both are impressive in different ways.

https://twitter.com/RRR_RedRock/status/1148190498458349568

You are talking about the responsibilities of the board not the CEO.
The board sets strategy and the CEO executes. CW is part of a team and cannot go against the wishes of the team. The days where we had a dominant CEO who could just what they wanted, when they wanted to and to hell with the consequences have gone.

PA has made it clear how he sees things moving ahead: he is process-based, wants strong corporate governance and wants to under-promise and over-deliver.

Thom Board is responsible for execution in the field but the board makes the big decisions and provides the budgets.

The last thing we need now is for a fight over the future of CW. When the time comes for CW to move aside, it will have to be done properly and be process-based as per PA's rules.

To be able to get a top oil & gas CEO this company needs to move on a bit more operationally and financially. A top CEO will want decent assets to work on, funds available to work with and the opportunity for personal rewards. It is simply too early to get the type of person that the company needs for the next two or three years.

DYOR

https://stockhead.com.au/experts/money-talks-these-copper-juniors-are-hot-targets-for-the-big-producers/

Well as usual people who think they know everything end up proving they know nothing.

Steelmin was a thing not the next big thing: two things went wrong, electricity prices went through the roof (and are still high) and AB made an unsecured loan to Steelmin. The former no one has any control over and the latter was a mistake.

AB should have kept his hand in his pocket.

As the Zen Master said, let's see!

I know nothing. First I have heard of it. This sort of nonsense will be stopping shortly.

Good news for MMS and JMS.

Hopefully, there will good news August time.

https://web.tmxmoney.com/article.php?newsid=8427543441209924&qm_symbol=MMS

Snide as usual. The assets have always been fine as has the stated business model, the issue has been lack of operational delivery and worse.

I still think that Shoats Creek was a great asset.

If you have an insight why not share it?

As CAV have indicated this is not a one off gig. This is a proof of concept gig that will lead to multiple deals for ADL if successful.

The fees for the share of licenses are de mimimis,

I did think that ADL would sell its share of the licenses but now that they have done the Indo deal, I no longer think they will sell. UOG are very keen on the "Colter" licenses. I expect them to say that they will drill Purbright early next year when they have the permits in place.

DYOR

https://twitter.com/kjawoogie/status/1146658652939522048

Comment on Colter in this..
https://www.valuethemarkets.com/2019/07/04/united-oil-gas-a-mid-tier-oil-player-in-the-making-uog/
Looks like there will be news imminently.

DYOR

There was no guarantee implied so don't go buying another big house.

If you read the recent update and think it through, I can see how $3.00 is doable. I expect a few JVs coming down the line pretty shortly: QEM and Trinidad being two.

Alabama is interesting https://www.mining.com/alabama-explores-potential-of-tapping-into-its-oil-sands-reserves-86750/3233/

DYOR

LGO talking to me?

I am not defending the board. As it happens, I have been exchanging emails with them giving them the benefit of my wisdom (?): which may or may not have been well received. I am interested in results here not being mates with anyone. I supported CW last year because that was the right thing to do at the time. At some point CW will have to move sideways or away completely to make room for a top-notch oil & gas CEO. We are still transitioning here and I thought that the presentation read well. It is not supposed to be a rampy, salesy document but to give an over-view of where the company is up to. The presentation does what it is supposed to do.

I do expect a lot more information in the next update including some forward guidance as it is called in the good ole US of A.

In my mind we need to be looking for an oil & gas CEO to come in around October/November time. Ideally, it should be someone fairly young, hungry, aggressive, well-connected and seen to be someone who can get results. He or she would need to know their way around all the pitfalls and traps of doing business in Texas and Oklahoma. It would be someone who not only knows about drilling but also operations and funding. Going forward we will need finance and ideally we need it to be non-dilutive.

If we can get out of PQE at round $3.00 per share September/October time we will be well capitalised and able to secure a top notch CEO. I have PQE personally and not sold any.

DYOR