Member Info for homebrewruss

sorry got that wrong, thought it said 17/1 :) anyway that is the page to monitor

Rig moving tomorrow morning?
https://www.marinetraffic.com/en/ais/details/ships/shipid:900001/mmsi:636016143/imo:8750338/vessel:ENSCO_72

possibly slightly earlier, maybe early March? From the Equinor website today 'West Phoenix is now being moved to the UK continental shelf to drill the Equinor-operated Bigfoot prospect south of the Mariner field.'
https://www.equinor.com/en/news/2019-01-16-ragnfrid-north.html

JOG are third in line but the two drills prior should be reasonably quick

The conference call is now available here:
http://www.bluerockdiamonds.co.uk/assets/BlueRock%20Shareholder%20Call%2014.01.19.mp3

Thanks for the call feedback. I'm.waiting for it to become available on the website. All sounds promising for the coming year from your notes - let's hope they can execute

No problem. It is exciting! :)

Via bbb13 on twitter: https://twitter.com/bbb1305315969?s=09

Don't think it's using the same rig as Biscathorpe so no reason for it not to start earlier than then

right at the end of the video when it's breaking up he seems to mention 'making returns to shareholders' which would be nice

good honesty about missed targets

some fag packet calcs which I just posted on the advfn board:

From the placing RNS they say:
'The target tonnage for 2019 is 300,000 to 350,000 tonnes although by Q4 2019 BlueRock expects to be operating at an annual run rate of 400,000 tonnes.'

Let's call it 300,000 for 2019

In the same RNS they also say 'At an operating level of 40,000 tonnes a month, BlueRock expects its mining operations to be profitable at a grade of 2.5 cpht. The Company's average grade from all of its mining operations to date is 2.6 cpht and excluding the mining of the very low grade material in the higher levels of the pit BlueRock estimates that the average grade to date is approximately 3.5cpht.'

So assuming that they mine an average of 3.5 cpht in 2019 (it was 4.01 in the latest quarter) and they are profitable at 2.5 cpht that would give 1.0 cpht of profit on their 300,000 tonnes for 2019.

I've assumed a price per carat of $320 (average for FY18 was $332)

300,000 / 100 x 1.0cpht = 3000 profitable carats in 2019

3000 x $320 = $960,000 profit for FY 2019

How does that sound? Please feel free to pick these apart.
Hopefully the grade will be closer to 4.0 cpht in 2019 which would give a 50% uplift to these profit figures plus the overall tonnage could be closer to 350,000 but I've erred on the conservative side.

Happy new year all! Does anyone have an opinion on what the share price would do if Wick is unsuccesful? A small drop perhaps to the 6's?

I got a few more on a spreadbet firth thing (can't get any via iweb sadly) to bring my average nicely down to 0.7. Couldn't believe my luck so close to so much action!

Via the RBD board, looks like West Newton ground works beginning next week: https://drillordrop.com/2018/11/30/rathlin-energy-announces-start-date-for-work-at-west-newton-gas-site/

Some comment from Malcy:
'Egdon/Europa/Union Jack
My cynicism of the local Council process the last time I wrote about Wressle was I’m afraid fully justified as yesterday the consortium announced that the North Lincs Council planning committee had overruled the professional planning officer and refused planning again. If ever there was an example of why these buffoons should not be put in charge of much more than road-sweeping this is surely it. Egdon and partners will surely get their permission but probably when the national authorities are put in charge but it is a shame that it should reach this state of affairs…'

laimo, the company has been here before with a recommendation that has not got final approval.
It's more likely this time but could still be denied but would then probably have a good chance on appeal.
So not really good news just yet plus Wressle is small beer compared to Biscathorpe and West Newton although of course positive news from Wressle would be nice.

There's now updated info on the UJO board and the egdon twitter feed, looks like planning approval is now recommended: https://twitter.com/EgdonResources?s=09

Nice one, thanks

Thanks Johnnie, where did you get this info from?

Well that didn't come out so well! From xxnjr1: 'Looking at latest Transocean Fleet Status Report: www.deepwater.com/Documents/July%202018%20Fleet%20Status%20Report.pdf ,Hurricane will be drilling 2 or maybe 3 wells starting March 2019, with the PBLjnr.'