Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Porters
You are right people are entitled to be unhappy and express their disappointment at the management but that does not mean you have to rude and offensive. If you really think being rude and offensive to any body is warranted action then i seriously think you ought to look at your standards. They are not mine and quite frankly nor should they be yours.
Do you think they are acting for another major trying to get in through the backdoor or are they do you think from within the City so to speak. If you are trying to get in through the backdoor i think it is really damn stupid. I mean yes they could take over the company but we are really small fry in all of this the main people are Morocco and the powers that be there. If they do not like the major they could easily just make it close to impossible to operate and therefore negate everything they have tried to do.. Personally i do not think a major would get involved in any country that is not a pure capitalist system. IMO it would be crazy so only alternative if you are right is the city trying to talk down the share for an entry by someone. question is who.
Personally i do not mind the delays. I would like to know that there are delays so that this BB does not come out with a whole load of conspiracy theories. Last thing we need is to be sitting here wondering how testing was going based on an RNS when in reality the equipment is not even in the country or something. The more that the delays are not passed on the more it looks as PG is not totally in charge. This is all about Perception Management.
Does an item need an RNS if it has already been raised and mentioned earlier even though the timeline was missed, ignored or whatever. If it does not then almost all subjects can be discussed with an RNS as everything seems to have been mentioned.
Ireland just recently so that can be updated. Not sure if arrival of approval would still need an RNS i think it would.
Update re Sandjet equipment arrival and testing. Again this has been been mentioned. Although there does seem to be some confusion amongst Contractee's as to who has first bite of the cherry. I do not think this would need an RNS as it has already been mentioned. Just because there is confusion on this BB does not mean it needs to RNS again otherwise they would be re-issuing RNS's every five minutes as every communique would be re-issued as they are all cloudy.
So if things have been covered i would think it is open for discussion and i think most things have been discussed in RNS even though the timelines have been and gone.
10p hoping for £1
That is the problem with this share in that if this does a £1 it will do several £. I think there is little doubt about that. There is gas there of that we know and we also know there is a fair bit of it too. All we need to do is access it and let it flow and the rest will do itself i reckon. The problem is accessing it. We can not do that without sandjetting and at the moment we are all clueless as to when that might be. I was hoping for late March early April testing. but i have no idea if that is likely to happen or not. Hopefully Thursday will tell us and some more as well. The problem now is Thursday cannot give us anything we do not already know as it would then be price sensitive unless we get an RNS. This is what you call cutting it fine. If there is no RNS before Thursday evening i wonder where this SP is going in the short to medium term.. Being simple i do wonder Why oh Why cannot we get a timetable that we can stick to but always there is something that gets in the way.
You are right the fundamentals have not changed but the time line may well have changed. Yes you are right i am here to make money i make no bones about that but that was based around the time line the company envisaged back in September of last year. Testing in November. November came and went and now we are in March with promise of testing in April and May but the equipment seems to be booked elsewhere, if you listen to the gossip, and the problem
is there is nothing but the gossip to listen to as the company are not saying much (at the moment) Investors really should have more say in this sort of thing. I mean if the company are raising money to drill or test or exploit they really need to be held accountability otherwise you end up nothing but massive dilution and shareholders with little way of getting out other than take the hit or just sit and wait and pray that something happens before you peg it.
I am beginning to agree with many on here. The Comms is not good and more to point can be confusing. If we do not get an RNS soon i am beginning to wonder why are we doing this presentation. It all costs money and if PG and Lonnie are flying over why the need. They could do it from their villa in Morocco. If there is no RNS it means the presentation will be a share hype to get the level of shares up so that they can put in a placement at a slightly higher price.
It is beginning to look at Sandjet has been booked out to a number who have got there before us and everything in limbo. This is the time for a bit of positive news out of PG and must admit i have having to recalculate my plans.
Just re read the last RNS and looks like we did not or would not have booked it until after the license extension on or around the 5th February and if everyone has got in before us. It looks as if we are at the back of the queue for the moment at least.
Keep your eyes peeled the last RNS landed at midday approximately our time. I did not pick it up myself till late afternoon for various reasons but we are now one week on from last RNS and by its wording and very directly pointing the finger at who is to blame and invoking effectively the whole of the government into that attack means this will be resolved i think fiarly quickly.
Midday our time is around 19.00 local time. Sign document last thing in weeks agenda say around 17.30-18.00 . Get news out to MB and onto already half written RNS and then onto the LSE about an our later. Could see the same sort of time lines again today.
RNS not coming or at least in immediate future. This is from the RNS on 28th February says very clearly there are two tests each likely to last 10 days. Even if they started immediately ie the 1st March the two tests would take us to the 20th March and then allow a few days for results. Earliest would be Friday 22nd but i think more likely overnight Sunday the 24th on the ASX and then us on Monday 25th although something may leak out in US on the Friday.
"Two flow tests are scheduled, one each in the Upper SFS and SMD-B reservoirs, with each expected to take approximately ten days."
I would doubt they would let the two results out individually but rather as one result.
That is my thinking so i would relax and chill this will come through later this month.
One thing i would like to know and have not seen any where is a summary of exactly how much gas we believe there is down there. I think this is a bit complicated than just multiplying the Height by width by depth to get the cubic feet as i would guess flow rates would come into it.
The reason i ask is obvously it gives an idea as to what this could be also that for a period it seemed that every time we turned over a stone we discovered for gas. Maybe a bit a poetic license i grant you but i think you get my drift but no one has tried to sum up in one straight forward document from what i can recently. There might be stuff going back that but i think has been replaced by new knowledge. So a nice simple summary would be nice.and would they vary with flow rates if so a low flow rate , expected FR and a larger than expected FR and the amounts associated with each one for each well would be great.
Maybe this is being too simple but would be nice to get an idea of exactly what we are talking about now. I have heard 1.8 tcf banded around but then i have heard numbers well in excess of that but no idea which wells or areas. And would the 1.8 include the Jurassic region or that completely separate.
Now we are reaching the end of the book would any like to venture a guess to the end of the story.
Lottery ticket
The problem is there are now 25.2bn lottery tickets out there. Even this does come in it is being well diluted. If this does come in and prove up the oil what do we expect the market cap to be. If it moves to 1p that would be a market cap of £252m. What chance of this being sold to a major in excess of £0.25m. i should imagine the extraction costs and the infrastructure costs would bring the eventual selling price right down.