Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Brigsee - I’d be interested to hear your business reasons why the BOD shouldn’t have accepted the offer of aggregate $9 million for Cory Moruga given that it wasn’t able to develop the asset, it was non producing and it was costing over $600,000 per annum.
Just came across the 03/01/2023 presentation on CEG website - the following nugget stood out to me:-
Recent mega-discoveries in the Conjugate Orange Basin ( Offshore Namibia )by Total and Shell de-risk the Aptian turbidite play.
How’s that one Starchild?
Brigsee - that’s better - I’m pleased you’re happy if they can do a deal - i like to post about facts and possibilities!
It may be necessary to Place to finance development - existing shareholders will surely be aware of that - most have entered before or after a Placing.
Thanks for your warning - i hope your disgruntlement will ease with time.
Brigsee - if you can guarantee that the management here won’t farm out Uruguay you will be performing a useful service - are you able to do that either personally or with the disgruntled ex-shareholder group ?
Brigsee - I remember the company entering into an exclusive agreement with a major on the Bahamas opportunity where they received $750,000 for access to data with a view to the possibility of a farm out - that it didn’t ultimately end in farm out is history- obviously the disgruntled cohort don’t want to see the possibility that things may be different this time.
Why do you regard the company promoting it’s own interests as shameful - would it be better for shareholders if they didn’t publicise the FACT THAT there is a high level of interest from corporate majors in Uruguay exploration ?
Hollybean - continuing the rented property analogy CEG have got rid of a boarded up site that wasn’t yielding any rent and was costing more than $56,000 monthly.
They already have other sites where rent is coming in but with considerable potential for increases - management are working on such development- we await the results of their recent campaign- in the meantime the $2 million ( plus ) will come in handy!
Rejoice!
JohnBriggs - clearly the significance of the highlighted information has gone over your head - CEG themselves obviously believed it was significant because they included it in the press release - $56,000 per month may not be much to an investor like yourself but to CEG it’s a major saving!
Even more rejoicing to be done once shareholders appreciate the cash flow benefit of Cory Morunga licence sale - according to Malcy’s blog ‘ in the year to 31/12/2021 T-Rex made a loss of US$674,000, largely reflected of the annual licence fees and dues in respect of Cory Morunga licence.’
This is a huge saving in excess of US$56,000 per month - more than 25% of the annual G&A deficit , which the company are striving to fund from Trinidad profits!
JohnBriggs - just post up where CEG have admitted there was merit in PRD claim - the fact they removed any chance of litigation biting them up the backside in the future would seem to be a prudent move - wouldn’t you have included it if you were CEO?
They’ve sold an asset which was non productive , in their hands, and having ongoing costs, to an organisation that has resources and expertise to develop it - for $2 million cash plus- what’s not to like - unless you are just a hater?
Rejoice at the wonderful news in today’s RNS - the haters have been out in force over on ADVFN with supercharged levels of wailing and teeth gnashing so I’m interpreting that as very good news indeed for this company!
Looking forward to Malcy giving it large shortly after the mince pies have done their rounds !
Lancy - all the best to you for the festive season and new year !
Today’s RNS was wonderful news for CEG and I believe your team here at PRD will generate a good result with the asset as they know the history and I’m confident they have the expertise to unlock the huge potential!
Micktrick - always good to chat - I’m starting to believe my love in suggestion now!