Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
To be fair BillyRay, 26bcf is quite the.prize wonder what CoS is for that?!
As for CoS on Sandjet I'd say that's a good deal higher and the BoD is happy to await the outcome with no thought of placement given the provisional GSA that may be cemented in event of good results. That would start to release new funding avenues outside of placements and dilution.
Glad to see a short pause as Still movingnfinds around to add here.
Bold
I mention CTU because it seems to be the most scarce element of kit required for Sandjet testing.
While I've been critical on messaging I think management will have been planning for the approval and procuring kit in timely fashion
Procuring kit that is going to be required isn't running the P&L recklessly, quite the opposite if it allows manage to move at pace. The bits that may have a lead time are coiled tubing and/or Sandjet team to conduct ops.
Again I'd suspect this is in train as od hope it was known extension was imminent.
Who knows PG may surprise us all with SV-101 on the way too.
Jimmy/TheBold
Management I'm.pretty sure indicated coiled tubing was available mid April and other kit would take a couple of weeks. Suggestions of months from now for Sandjetting are I would think wide of the mark.
I doubt the approval process is a closed box with no comms back and forth to PRD from the various regulatory bodies in country. We should hopefully see further info in due course
Think a good amount of kit will have been procured and in store or transiting customs. The bigger question is probably availability of team to test but one would hope they've had line of sight that approval was incoming and a team is scheduled already.
Interesting context KeithOz
Pv72
I hope (and expect) PG is pushing size of PRD resource to prove up versus Chariot and suggesting to OHNYM we should be head of queue.
Mentioned last week I think Sandjet is imminent as this delivery seemed contractually definitive in the comms.
Appreciate that drills can be a challenge due to kit my frustration is, if we have allowed ourselves to fall to back of queue when it has been planned for sometime.
Usual mushroom treatment from PG.
At the Proactive event Sandjet equipment was due to start arriving from mid-April with testing commencing end-April.
Note the Financial statement contains a note saying the contract is signed for SV rig but not timeline.
I do hope given how long it has been mooted that they have ducked in before Chariot/Sound but the silence is currently deafening.
Ford/GRH/Keith
If the rig isn't available, do you think we should crack on with Sandjet or wait for an indeterminate time?
Is there a time frame without action in which you think the BoD would be required to update shareholders on plans?
Kit costs money and what we need is clearly in demand so it may be that to save on costs the activities need to be staggered out of necessity or we would just be paying for rig/tubing to sit idle while waiting for other to become free.
If we tests 260m and get anywhere near 1m/scf a meter then based on the NPV of the CNG and other uses it would be a very positive result and could be compartmentalised in event of an offer being made.
There are potentially large sums at stake but we don't know for sure and market doesn't yet buy in. Blindly trusting regardless of elastic timeframes is something few CEOs would get away with.
It's a simple hypothetical to answer and something most folk face daily about deliverables and decisions on what to prioritise.
Ford/GRH/Keith
If the rig isn't available, do you think we should crack on with Sandjet or wait for an indeterminate time?
Is there a time frame without action in which you think the BoD would be required to update shareholders on plans?
Keith
I.think there are more than 1 types of posters.
I'm positive on prospects but negative on the Time it is taking to progress. If SV-101 is not available until August do people seriously suggest we wait until then for Sandjet to have results come out along with drilling?
we should be due the annual report any time which should have a post period end update.
this should be easy as they can cut and paste the below from last year
the moulouya fan has been identified as a sizeable asset capable of in itself potentially supplying all of the current industrial market's cng requirements. it will require additional wells over time to maintain and scale up the gas supply, but the priority at present will be to complete a drilling and rigless testing programme to validate the commercial cng concept.
that we still have not validated this despite it being stated as a priority at the last period end is frankly a bit ****. still, let's see what is said in the statement as they may be further on than we realise. no news on plans is not great in terms of shareholder engagement.when results are released.
Current global rig count is 619, was 748 a year ago but alas it is the type of rig and mobilisation cost that are major factors for operations.
No point bringing in a rig from 5,000 miles away when one is closer even at expense of a month or two delay.
O&W
Don't think the other Petroleum Amendment agreements were advised by RNS if they were 6 monthly also as just had a skim through a few RNS' - granted not forensic, just as I race from sons football to daughters swimming.
Think it was mentioned because of the impact on testing so imagine it is in placement. Expect Sandjet kit is also being amassed as we speak with a view to commencing in May.
Sadly they may yet be kingmaker again after next elections in Scotland.
Androcles
That's was quite some advert from Ms Minogue.
Oldslow
Here for the potential as well. Mentioned this is risk capital and lucky I can generate funds for other risk capital investments. I see potential for a significant multi bag here, ideally I'd like to recycle that into other stocks if the timing permits to add to other investment in these stocks. Hence my occasional frustration at timelines.
Believe Sandjet testing is imminent.
I'm building on stake as think the next 12-18 months have enormous potential. Great work by the team who remain very open to dialogue and an exemplar in that regard.
Ford
Not here at a loss, just prefer they got on with it while.Im still relatively young.
Funds here is risk capital but I see other good opportunities. If there is no definite window to complete any sort of quantification then it is a Lifestyle company where PG pleases himself and makes up for dilution through share awards.
I'm lucky that it is risk capital and if minded I could buy millions more shares tomorrow.
The funds here might pay my grandchildren school fees some time in the future but if they don't it will be taken care of from salary and bonuses between now and when they may arrive - probably 15-20 years away but intend to be retired long before that regardless of events here or in other risk holdings.
So please infer whatever you like but am afraid you're barking up the wrong tree.