Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Brex 22 - Friendly word of advice Sir:
Some of your posts are quite specific (names and associations thereto) and potentially libellous, indictable in law.
Be careful.
GL
IK
Izstar - During the failed Bahamas drilling campaign CEG/BPC managed to raise approx $40 mill to drill despite everything against them including:-
Being a minnow
Sole Bahamas explorer and no Major interest
Legal battles with environmentalists and local residents
No farmin in sight
Plus any more factors too numerous to mention
IF we get to drilling it will be because the area where other Majors are also involved is hot to trot and IMO we will have very little problem getting backers. N.B. Some of the Board are either themselves extremely wealthy or are very well connected. To put it in context I was amazed we raised so much cash for The bahamas drill!!
GLA
IK
Spirite Hi.
Thanks for the response.
I concur mon ami - smoke and mirrors prevailed and still do.
Good luck Sir.
IK
Despite the above who quite rightly have been sceptical for ever about BPC/CEG - they are living in the past.
We all bought into the BPC idea because of Alan Burns - one of the pre- eminent oil explorers in The World of the 90s and 00s with a massive proven record ( look it up .)
BPC failed for many reasons not least of which was FIRST and ONLY strike failure. However their journey was incomparable in adversity to try to attain a success. I will elucidate for real investors if you wish to know: -
Macondo
Several changes of Bahamian govt
Geenpeace
Billionaires protecting their residences via law
Political correctness putting pressure on financiers to pull funding at the last minute
To name but a few.
Uruquay different proposition - most majors involved
Comparability geoloigally with West Africa re Plate Techtonics etc.
i leave it there for now with a few researchable facts that serious investors can DYOR.
GLA.
Uruquay is a different keetle of fish:
major serious actual interest (last interest in Bahamas was circa
Pers - at least if one of them was - we would have a chance of "flying."
About the only most decent missive to hit this board in months - nice one?
AIM is a pile of whatever and if you invest here expect the worst.
However occasionally something works ok and and you make a few bob.
If the keyboard warriors actually stood back for a few mins/hrs/days/months they might get a bit better perspective.
Remember during this wonderful experience of RBD we have had COVID/massive politial turmoil (where nothing contraversial - like oil - i.e non politically friendly) has been the flavour of the decade.
Sit back a bit folks and realise stuff like this takes time.
That being said: if it dont happen in the next year I'm out!
Good luck to you all.
Heh Willec
You are a correct investor of the potential of BPC/CEG - IMO - however my friend you are also a perceived ramper of this share and my interaction with you would just add to the B/S on this board about different names for different posters.
If The Chatboard want my input I need a bit more substance to a serious request for proper info.
P.S. Willec for the record: I do believe you are genuine in your beliefs but much younger and inexperienced in the world of investment than I who is regretably much older and chastened by previous investment decisions.
Hi Cybertron
First post for a while to someone I believe has a grasp of realitiy on this stock.
I used to ad nauseum comment on this board for several years due to belief in potential of the company - all fact based.
There are many facts not mentioned currently by current posters that are not alluded to that IMO are relevant to evaluation.
I do not want to waste my - your - or the chatboard time with them unless requested.
???
GLA - IK
AND SOMETIMES ALL THE FOLKS YOU TALK ABOUT know SOMETHING IS ABOUT TO HAPPEN!
Shell said Wednesday that successful drilling of a fourth exploration well in Namibia confirms the presence of hydrocarbons.
The energy major said further evaluation is required to determine the development potential of the Lesedi-1X well.
Speaking at the company's Capital Markets Day in New York last month, Integrated Gas and Upstream Director Zoe Yujnovich said the company had recently conducted a successful flow test, the first ever in the south-west African country.
"We are in the process of reviewing the encouraging results and are focused on determining commercial potential, moving cost-effectively and at pace," Yujnovich said.
The upcoming results from the production flow test should help assess the economics of the oil resource, and if it will be another Guyana-sized opportunity, or something much smaller, the analysts wrote in a research note earlier in this week.
Since 2022, Shell has drilled three exploration wells and one appraisal well in Namibia.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
July 12, 2023 08:48 ET (12:48 GMT)
ICE
Where are you getting your 1billion shares from?
Laalee
You did - just - to me.
X
Bynari- Perfecto!
And exemplifies why some on here are”POLES” apart - thank goodness!
HNY MES AMIS AND THE DEVIL TAKE THE TROLLS!
GL
IK
XX
Trek
This is one of my central themes.
I have worked in The Bahamas - wonderful people - great environment etc etc.
But they have lived on Finance and Tourism for their wealth/Social infrastructure etc.
In short their income is derived from 3rd parties.
It is going to reduce and they need another source of revenue unequivocally.
GL
IK
XX
Hi Folks
RNS: Somewhat out of left field – however:-
• More dilution? See below.
• More cheaper and less convoluted funding alternative? Yes.
• More Stand alone? Yes.
• More overall company dynamic for medium term = 1-3yrs in my definition. Yes.
If we had brought a MAJOR on board from 1yr+ ago we would have been similarly diluted as today.
We were a one shot wonder - if all had gone right, which it didn’t – and had 1.25bn issuance .We were looking for a Partner and the consensus was that to give up 75% would have been ok.
Work out the equity breakdown relative to now. Not that dissimilar in the big scheme.
Many folks who look @ this currently were looking for a sharp uptick re P1.
That for the time being is being obfuscated and is disappointing, hence the negatives early doors.
LTHs will view this somewhat differently once the disappointment of anticlimax re drill has dissipated.
IMO this raise, in a few days time will be forgotten and P1 drill will reinvigorate the anticipation.
GL
IK
XX
Hi Folks
The price action can IMO to a certain extent be attributed to a few things relating to different investment criteria:
ROULETTE WHEEL ANALOGY:-
• Cautious (red/black/odd/even)– folks looking for a double – 5/6p.
• Outright (single number) – folks looking for the big strike – 87p+.
• Balanced (4 numbers – 8:1) – 20-30p.
The problem is that because of the various extraneous events – Injunction/Rainbow etc – the new punters are not arriving yet due to uncertainty.
Therefore no trigger points are being achieved and every holder is becoming a “hold ‘til drill” investor – like it or not. The psychology correlated to this is that the majority of the Roulette players are LTHs and are to a certain extent fatigued and have already written this off several times. They may therefore stick with it.
This may mean that as we approach actual drilling there may be a shortage of stock as the uncertainty events dissipate.
We can only guess but that IMO is the likely outcome albeit pre gusher SP will be more subdued than originally thought.
GL
IK
XX
Hi Jim
RNS also indicates Family Office still available if required which sort of negates what we mentioned yesterday re connection to injunction due to ill feeling.
I seem to remember that we “saved” 15% after April deferral due to hire prices dropping and new negotiations with Stena.
So with the exception of increase in contingency fund by $2 mill we are back to original budget
(Seems to me the extra is for the chartering of flights in the event of CV19 worsening and travel restrictions on scheduled flights for personnel in 3 weeks (most of who are coming from UK) being implemented.
I believe that they are being super cautious re CV 19 which I don’t blame them for.
CV19 ain’t going away whilst we are doing our stuff and seems to be escalating if anything in The US.
@ this stage a few extra mill is worth it compared to the potential prize.
GL
IK
XX
Jim
Possible re family however they are still invested in the region of 2million from memory so might be against their interests.
I was a prat re “International Community “- I meant International BUSINESS Community re doing business/contracts etc.
GL
IK
XX
Hi Folks
Not sure if this has been mentioned in anyway:
If the Bahamas authorities allow any sideshow interference - they will lose all credibility with The International community going forward.
Gl
IK
Xx
Just realized monstrous mistake - meant the rich git cigar chomping oilies not you workers!