Member Info for ID78

Nup, I agree with BP.

Once they pump the oil there is no route to market.

If only someone could invent a thing with 4 wheels, an engine and a big tank on the back to store all the oil.

Almost as funny as BP’s… ‘even if they get a land permit they’re doomed. I know a company selling oil that makes a loss’ comment. Personally I know a few oil companies that made a LOT of money last year :)

Anyone that bought the placing is either gone by now for a quick, safe (low) return or is sticking about for the LP.

Next resistance is 7.6p, but that’s based on highs from mid 2021 and may not be too strong, unlike the levels we smashed through yesterday.

I wouldn’t be shocked to see this SP north of 7p this week.

Of course news means these numbers become irrelevant!

Have a read at masters82’s posts.

What he has uncovered does suggest the LP is going to happen… but nobody can know when for sure

Resistance is 5.42p …. Not 9p, and we did see earlier today it was effective.

Any resistance after that is likely to be weaker.

7.6p then next 8.57p

(8.57p is a rising trendline that does become 9p in 7 days…)

* correction 5.42p resistance not 5.24p

Broke …. 4.3p resistance.

Broke 4.9p resistance (don’t have level 2 so I’m not sure if we have held that)

Pullback on hitting 5.24p resistance… shame cos next resistance is above 7p

Wait and see where we close. GLA

‘Mpram minister is in the parliament so he must be there to deal with oil mining companies.’

Thanks Master82

(Should clarify - 20p top slice / derisk)

BP - damn right I am

Poised and waiting on 20p

;-D

https://twitter.com/chrisjparrish/status/1642997945246023682?s=20

Filltospill - yes, correct. What Aprogerson is saying we don’t know the previous AISC.

It’s something GCAT haven’t wanted to tell us. They are happy to tell us what they think it will be at 2000oz a month (approx $1250).

But we don’t know what it has been at the lower gold numbers (360ish oz a month). And we don’t know what it is now (we are maybe doing 600oz a month incl HL)

It will be better than before, but we don’t have any clue AISC was before was or what it is now. So everything is guesswork, Apro is correct there.

One thing that sticks in my head. They have option to subscribe to a further £4mill in CLNs. So did they think they would run at a loss to the tune of £4mill and need subsidised further? This was prior to reaching the high grade gold, which should help, a bit, and maybe provide £2mill if AISC is low).

Gplaya it’s in the previous production numbers.

If for some reason it disappears, then £500,000 a month.

Over 180days (6months)

It’s £2.4mill profit….

The numbers published so far.

Ave grade from 9 days production (reported last week) = 3.8g/t

Ore mines = 360 tons per day

Recovery = 75%

Plant operating 80% of the time

So gold per day = 360t x 3.8g/t x 75% x 80% = 821g = 26oz

Gold per week = 130oz

Assuming cost (AISC) = $1100/oz (we have been told $1250)

And it sells at $2000/oz

Then that’s $118,800 profit a week

$475,000 a month (£400,000)

Not £1.4mill

PMSL… can only stand for

Petro Matad Special Licence?

Whoa… stop the crazy ramping BP, it’s not landed, not yet

:-D

Fair enough doc.

Anyone here invest in ADV? …. 90% chance of success (hitting oil)… and failed. There’s always risk in any investment. I sold ADV before target depth.

But I do like the chances of the LP here.

GLA

Sheesh the debate here.

Is the LP gaurenteed? …. No

Is the LP likely given ….. Yes (more likely than drilling for and finding oil!!)

Why? …

1) all the work competed to date as uncovered by master 82
2) the government want the oil pumped and sold
3) the government have to show they can work with outside companies to attract investment

Is the risk vs reward here good? …. Yes

Not much more to know. Invest on this or sell on this.

I’m hopeful it will go before then tbh, but with these things you never know.

So is today day 2 of 13 day extension? Tick tock…

4.3p resistance then 5.4p….