Member Info for itsaduster

Oh well going for the upper level Adaiyhah and Mus formations. Considering we have drilled thru them I think they would have smelled or seen something on the platform if there is oil or gas there. But the omen aint with us .......oil on top of water ? Looks like everyone else picked up the oil and by the time we got in the best was gone.

Not this century........we will never do business under Italian jurisdiction. So best plan is to sell everything Italian. The problem is we wont find any buyers.......cos everyone else knows it isn't possible to exploit Italian resources. Been in and out here and made good money in early days........back in now in a small way.

to get on with it and do his job. Micro fidgeting is very annoying to busy people .........

Good Luck with that Mogo.........One of the truest sayings is '''Tining is Everything'''. Driver what are the reports You are reading........ I guess America is where UK was in 1950 .........focus on social issues at home making it too much of a burden to support the dollar as the world currency. So Obama not going to pump resources into this cause.......and the dollar will slide as did sterling before it finished as a reserve currency. Is there another currency in the world or nation rich enough, organized enough or trusted enough to take on the role ?? NO !! So a basket of currencies ?? Mmmmm too much infighting to establish relative values as one of the pre-requisites will be to establish exchange rates ( floating relative values ? ) and that will have massive implications for trade and trade surpluses or deficits for the countries involved. Maybe one way out would be to back each of the involved currencies with Gold as an insurance policy ( and then use floating values and exchange rates ? ) and yes that means deciding on a gold price high enough to hold the gargantuan value called for.............but still a huge trust gap to cross ......... So I can only see gold as an option and that will mean a massive rerating.........IMHO up to $4000 - $5000 Oz in near to medium term. Does that give any insight. ?? If gold does get back onto world stage as a reserve currency and store of value then America could ship gold in return for all that debt that has been issued over the last 20 years..........and it might explain where all the gold has gone which has been produced in recent years........into Uncle Sam's sea chest. The incentive will obviously be to stabilize your wealth is you are unfortunate enough to hold billions of declining dollars. AIMHO obviously.

Wow......and I thought I was a gold bug !! OK I will pick U up on Pog

what the mystery is here. Its all about trading ....... in the past we have been very poor at trading ......or in at least 8 years we havnt found a way to trade or do business. There are now two possible ways forward for VIY to find it has value........ 1) An entity which has successful trading going on wants a public quotation and is happy to back itself into us. In so doing it gains a public listing, picks up £1.3 Million and saves hugely disruptive and expensive admin getting its own listing. 2) An entity recognises some skills or property we have ( patents ? ) and believing it can make commercial use of them ( say in conjunction with and to enhance some of its own present and successful business, or something els ) believes with an RTO it can achieve these benefits ............and............establish its own listing at low cost and low disruption to its trading, and get £1.3 M in cash to boot. I am expecting something along these lines..........but not in less than 4 to 6 weeks

Nice post You mention backwardation of gold price on futures market. As always don't think I have any real in sight ..........just a kind of personal insight of the back of lots of reading on web as well as mags and periodicals which fuels my ''gold bug'' disposition. I have read that there is a shortage of investment grade gold bar in China and the middle and far East.............this could be the cause of the backwardation......... Apparently they are shipping gold out of Zurich .........melting it down and recasting in smaller bars before shipping to Middle and Far East. ie lack of small bar stock now causing slight upward pressure now on price but as the melting and production of small bar gets ahead everyone expects this to ease into the summer. So purely technical for now. One bit of good news out of gold Council is that Chinese are consuming more Au for personal uses AND increasingly as security on business deals..........which in my opinion is very much what gold is best at doing.

Cut of grade at 0.22 gms/tonne gives us lots of room for price of gold to disappoint in the near to medium term.........and so for KGI to survive. Also better handling of waste will give a big boost to achieving better cost profile. Some suggesting a further drop in price thru the summer but this is expected to be followed by the firmer price for Au in the winter..........????? We can probably rely on the futures market to smooth this out some what. Either way IMHO KGI is the best place mine I know of which can weather any rough weather coming up on the Gold price. Longer term I expect a rise to continue to form a head formation from this ''shoulder'' or to continue a slow rise or just dither around 3000 to 4000

Buying above selling 5 to 1 and the sp falls In the past when this has been a feature of the sp I have thought it to be a tree shake prior to some news and a lift . Not saying that is the case just a thought........IMHO

...........I am thinking we are in progress with a cup structure here. Waiting for the handle then followed by a rerating. Time lines look about right to. Certainly it isn't possible to predict the future but we do try.

If you consider the way business around AT was conducted there may be a clue as to how the BOD do business. The general size of AT as stated by the BOD now is 2.1 wtfs...........but we all know it will give up multiples of this amount.........2.1 wtfs was quoted long before much testing was done and when bigger numbers were being quoted we were finally brought back sharpish to 2.1 wtfs So when we sold to the Algerian Govt it would be on the basis of 2.1 wtfs ( wow very good deal for the Algerians ) and everyone else who has bought in. Same goes for our big shareholder.........MMs helping them to a very good deal on an undervalued sp. With all these favours dished up.......could it be the BOD are accumulating friends and buddies around them to save themselves the inconvenience of any hostilities from shareholders or other interested parties. No chance of a T/O here then........just a miserable valuation even if the Jurassic does have .........well they will only tell us about half the reserves I expect anyway. I am not bitter and twisted or anything AIMHO

AR has found a moribund private Co with oodles of interesting acreage that wants a public listing and a bit of cash. If we have a strong suite this is where we can use it. Together with public listing.... and a bit of cash.... and some interesting tech.... and some ground to go at....... there is a chance of finding something valuable. But AR is a financier........so who cares what the business is. Interestingly I don't think he has tackled something oily yet so maybe he fancied a first.........correction ??

Good posting

Plse understand I dont actually know but mt take on the low volume is that the share is tightly held which I think is a good thing It isnt IMHO traded by PIs or the professionals. I will be very surprised if there is a delisting either London or Toronto

Fair enough.........the price action aint gonnna make us rich just now. I have been in and out almost from the beginning and was fortunate to pitch out at something above £10 Buying back in now as hard as I can......... I am what is called a ''Gold Bug''........I have mined it in many forms and collected as gold coin. My great reward in KGI is the visibility of all the Mining strategies issues and technical conundrums against the world economic backdrop. Another reason for my attachment to KGI is the astonishing grade which I hope gives me a margin for error should the price of gold test us. My concern is the tuffaceous hanging wall to most of the high grade stuff which I know makes for difficult mining conditions and possibly results in our expensive mining methods........cut and fill. The big upgrade investment program is now at an end.........so this simplifies things now........we just mine for profit now.........at last I don't claim any technical investing skill and in truth I am not here primarily for investing profit though I hope I don't loose money and maybe I might make some money.

I agree your point. It seems to me the RNS is pitched to engender doubt in the minds of waverers. Its a gentle push to get them to sell. The 27m of volatiles seems to be '''' not a bad result''' . Tthe shut off of this higher level would be helpful to test the lower Jurassic horizons..........they don't mention this but make it sound as if this 27m of volatiles is of no interest. to the uninitiated or those without perspective. Also the presence of this substantial horizon of volatile collection is suggestive of an enormous reservoir of heavier oil below............not so.????? AIMHO

Good posting.......... interesting view point and good advice for new ones. I like the new boys modus operandi..........one foot in front of the last and relentlessly forward. I like to think I get it. We will all see.

Probably not !! So they are happy to close off 27 metres of condensate.........there are holes where this would get the Toolpusher jumping up and down with joy anticipating his shangrilala. So I suggest they are anticipating something in the three prospect horizons which would justify this maybe...........then we could just end up harvesting condensate. IMO we are still in the game with something to play for on this hole but we will have to play it Hess's way ..........optimism is my strongest suit.

I expect they put this hole down where they thought there wouldnt be any oil ......just to test the ground and prove there isnt oil in this corner. For goodness sake you'll know thats how we find oil !! sourcasticduster

Is the game plan to exasperate VIY/VEC and do an exit deal whereby sg can take some quantum interest to India/Asia and set up on his own with access to VEC software for his own account ???? Just AIMHO and just an idea and question ??