The estimated current value of the asset is accordingly in the region of US$ 151 million.
At the time of the ban, MetalNRG held a 9.9% equity interest in the asset; since the ban, MetalNRG has supported IMC with a convertible loan facility for a total of US$ 341,441 to date. The agreement between IMC and MetalNRG provides that repayment of the convertible loan facility is either (i) via a conversion at 3 times the principal amount advanced into equity in IMC, if the project is reinstated; or (ii) repayment of 300% of the principal amount advanced in cash, in the event that IMC receives or reaches a compensatory settlement with the government of Kyrgyzstan.
Either around 拢1m in IMC Shares or a similar cash amount from settlement. Shares would be nice, IMC will roar and multiply the million, if the asset returned (not the likely outcome) but 拢1m cash would still be kerching.
Latest entry 22nd January , looks like it's finally gaining traction, or at least the process is, for those that do not know, if settled in IMC favour, its worth millions to MNRG, we can but hope 馃檮
Case Details
International Mining Company Invest, Inc. v. Kyrgyz Republic (ICSID Case No. ARB/22/25)
January 22, 2024
The Tribunal issues a decision on production of documents.
https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/22/25
Lithium
Atlantic 拢155m , Premier 拢125m , Bradda 拢15m
https://media.tenor.com/aPNHPX_2gzwAAAAM/wink-bien.gif
Spread created by all those chancers either end , loaded but not
always having any takers, its a false spread, as can be clearly seen
by the prices of actual trades being made.
It will close back up , when Mr Market decides , its time to move us
and never before, still lots of news flow to come December/January
Our move will come, just a case of which one triggers the market to
a correction or rerate........just slid a tad......GLA
;))
Forthcoming Newsflow (Indicative)
November 2022
路 Project JV 75% earn-in milestone
路 RC drilling results (initial)
路 ADI co-funded Controlled Source Audio-frequency Magneto-tellurics ("CSAMT") EM survey
December 2022
路 RC drilling results (final)
路 Maiden rare earth MRE
January 2022
路 Updated gold MRE
路 Follow up REE metallurgical testing results targeting variable saprolite conditions
路 REE sizing beneficiation and metallurgical recovery results
Market does not print anything in colours or buy/sell
only 3rd party guesswork sites like this one.
All use the worst algorithm on the planet a best guess on what it
thinks is the current mid price, above buy , below sell ,all on mid
or no longer fit UNKNOWN, that popular button we all press daily
How they look before the added guesswork , all after volume amount
05.12.22 16:03:29 0.72 GBX 14,928 107.33 Off-Book P XLON XLON
05.12.22 16:02:43 0.72 GBX 100 0.72 Off-Book P XLON XLON
05.12.22 16:00:23 0.72 GBX 37,215 267.58 Off-Book P XLON XLON
05.12.22 15:58:32 0.72 GBX 145,363 1,045.16 Off-Book P XLON XLON
05.12.22 15:56:38 0.72 GBX 500,000 3,600.00 Off-Book P XLON XLON
XLON all conducted on the London Exchange, other venue flags are used.
Any price including the two limits max and minimum, often mislabelled but
not by the market , just guesswork sites like this London South East LSE
;))
No I will go
have been right since Nov 2019
said all on the Island to move
do not expect the snail paced seismic to make a lot of difference
(might bag or two - industry indifference and mistrust)
said the bid round would be complete ****, unless they change things
with industry clarity , worst bid round in history 9 bids on 7 licenses in 2 1/2
years, while same timeframe Nigeria 1,600+ on 58 licenses of less acreage
Said all along , only two things will change it.........and mega multi bag us
nothing has yet changed since Nov 2019
Other than Baron snail paced all, to finally almost catch up with Shells
mapping , seismic and Discovery drill figures.......
3 years to do what next door did in a day.........
It will happen, one day whenever, could be tomorrow, could be much, much later
GOODBYE.............
Truth hurt bieeeeeeeeeeeeeee
Dunrobin
looking more and more likely to cause some rising waves , from the North Sea
until at least the Chuditch CPR , hopefully early January, which might prompt
an early mover
The one I would personally like to see, is someone move on Kelp Deep, up to 14 TCF
sitting idle, without either operator or license currently in force.......
Big fish, Sunrise as posted earlier ANPM 8 TCF, our own 5.5 TCF with much upside
and a monster in Kelp 14 TCF, ALL still twiddling their thumbs.........WHY
You all know why...............laters
:((
As said same old same old , done multiple times before, until something
new arrives, like a Woodside we have done the studies and AGREE
NOTHING changes at Sunrise
They could still agree to go to the Island but as has been their stance all these
years opt to continue only to stay with the Offshore operations
still need the major funding........
Until a funder steps up to fund up to $12 Billion Beaco remains a dream
as it has been for 20+ years.....
Until they say your not all still waiting for Beaco, the sector will sit on the fence
2021 Sept , Gov , we are conducting new studies to use CHUDITCH , kelp and Sunrise
to feed Beaco on commission 2030 , while we are talking FPSO plans snail paced for
two years earlier...........
Its just another Tuesday in the TL part of the Timor Sea , until something new happens
TL last studies around 8 months, results kept confidential, Woodside having another look
doubt that side of things , will come to the table for a few months, while they do their own
again.......
So likely only 2 things , going to help us attract that big player soon, Sundagas showcased
as it was before, PERMITTED for FPSO and Domestic contract.......Hera Metinaro
or OZ, China , one from left field Shell , Exxon , Arab states, bypass the stalemate
issues and FUND Beaco.........
:((
Studies done by both sides multiple times
OZ , threatened with others and China , old hat
What has to change and is the only thing that counts for 20 years
A) TL permit someone , ideally us to use another option. FPSO
B) TL make good on one of those threats and bring someone (with a name for the first time)
in and or find a funder for their dream plan.......
Still see us quicker , with the Islands other plan, FPSO to Hera Metinaro
Sundagas factor........
;))
There as I said have been many many many many many saying
success and progress and here we are..........
until something different appears, its same old , same old FACT........
;))
Would not worry about it either way guys........
They have had such meeting several times a year for a LOOOOOOOOOOOOOOONG
time everyone of them talk PROGRESS OR SUCCESSFUL negotiations
and here we are years later.............
As posted yesterday , after the two majors decided leaving but had not been paid
off yet, the new Island , Woodside , Osaka and Gov committees of OZ and TL , had
their 15th meeting in November 2013.........many , many more since, the same
had TL and Woodside meeting only, in October, November and December.......
As previous posts, they flower for the press, 20 years of good talks and progress
and not a shovel in the ground at Beaco, or a piece of pipe layed.........field was
mothballed to care and maint 2004.......
The wider area, only the Island can make it all come back to life...........
A great start, would be to once more showcase Sundagas and PERMIT now...
;))
It's a massive growth industry, Exxon leading the way , they already have
facilities onshore USA, the biggest , services Wyoming , Colorado and
Nebraska operations.
It was recently funded to increase operations from 5-6 Million tons per annum
to 8+
When they announced, their annual profits from 2021 , said most of the 30 Billion
profit , came in the last 4 months of the year.
Now EXPECT, 2022 - 2024 to far exceed those profits of 2021, plan to use this windfall
to grab future large projects and fund further expansion of its own Carbon Capture
facilities.......
Similar statement by other leading Majors..........
Now that would be something from left field, Exxon take the lot, multiple
multi TCF fields and the processing (Beaco) and CC (Bayu) with massive
exploration upside.......
Expecting 2022 Profits to exceed $100 Billion
Only need 12 billion for Beaco and pipeline, pay us a generous amount to get out
of the way, likewise those at Bayu and Sunrise, probably , well sub 20b total...lol
TL Ministers and Politicians have petitioned the USA , 3 times since the push started
in September................tick tock, could be the Yank's are coming........lol
;))
They are part of Australian plans for their own Capture programs (not Bayu)
https://www.industry.gov.au/publications/2021-offshore-greenhouse-gas-storage-acreage-release
if you dig into the OZ gov stuff, they have plans for their own, on and offshore facilities
North , West (Perth WA) and East (Queensland)
So Bayu will have plenty of competition, its advantage , is the drained reservoir already
available and a pipe from Darwin to Bayu already in situ, so they should be making the
most of it ASAP
Santos/ENI problem is the new pipeline 2 for Gas Input to Darwin now in Limbo
so they need to grab and alternative to Barossa , to feed it and keep all their
plans on track.........GLA
;))
As you can see from the map, majority of the 50,000 sq km
has no home, either side of the TL Maritime TLEA regions
Dozen's of big Oil and Gas finds drained since the late 1970's
in Indonesian and Australian waters.
Available maps of discoveries , show TL waters on trend with all of it
with most of the area under explored.
The sector know how prolific the whole Timor Sea is, just needs that encouragement
and clarity from tweedle dee and tweedle dumbass (Gusmao) , that Sunrise/Beaco
is a side show and others can develop other assets in their area, with other options
not the already 20 year.........NO.........you can bring it to Beaco.......
That's what is keeping the majority on the fence from returning, gas prices currently
at a high but will come back as the focus now on Gas , not Oil as in the past........
We have all seen the wild swings , on BRENT/WTI , one minute $165 dollars a week
later hitting a low of $12, goes in cycles as does and will in the future Gas prices...
They will want assurances, it is not the case, they will be in the same limbo as those
that left and if prices fall back , the project will still be economically and not a loss
pit.......
Where in the area
BHP , NEXEN , INPEX , CONOCO, SHELL , MOBIL and more
They are the players, the TL side have made no bones about, they want to return.
They have even made statements, we do not want , more of us, Advance, Carnathen
etc, they want those that left to return , with deep pockets, that can fast track and
FFD quickly, not take time to throw a well down eventually, then another one some
time whenever...........
Only they can make it happen..........same as day 1 , Nov 2019.......the wait continues
;))
imo , we are front runner for the Islands own 2nd project, the Northern Gas/LNG
Import terminal and tank farm -Domestic supply to 3 power stations by 2025/26
Sundagas FPSO plan , fits all the timescales, with a bigger player running operations.
soz Area F also onshore
Just the P and R offshore..........
http://www.anpm.tl/wp-content/uploads/2022/11/PortfolioMap_AllPSC_Labels_LQ_Final-1.png
Onshore
A Timor Gap
B ETO LDA
Offshore
F - HTS Exploration
P - ENI
R - Santos
No bids on the rest of the 18 licenses..........
No Jarv
which is a surprise , as Shell mapped leads running all the way down
the southern boundary of Chuditch on the right and Bayu is low down
in area R, on that same trend line, which continues into Australian
Timor Sea waters
Yes would have been nice of them to update, as bottom of last RNA message
75% milestone listed.
Usually , just a case of meeting the agreed financial expenditure, then it's ours.
Can only presume, with no announcement, we are still short, of the agreed spend
figure.......GLA
;))