Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Common man, enough of the now Starchild... I am not the type of person who wants to affect other’s chances of exciting this stock with minimal losses, hence I was not weighing in till now, I took a loss of 80% after percy1, took my money out and moved on.. I did not comment because I wanted others to have the space to understand and leave the stock as and when it allows...
I initially thought you were a genuine guy who invested massively, so after the percy 1, I thought you were averaging down to get above water and exit but I was sooo wrong man. You are being paid to manage this stock, maintain the sentiment, and fool the new lot of investors who have no time to do proper due diligence, they just see your long post and think this is it... I guess you say to your conscience that people like this should lose their money but you know KARMA right? wait for it....
This stock is done..... if you are a gullible investor then may god save you... if you are a paid manager of this stock, then he know what to do.....
I know why Bizzells are funding this.. and what this will become in future.... I can't say this here but any one who can do a thinking exercise for 10 minutes can figure out what will be the end game of this and who will benefit, it’s a CLN, let that sink in to your brains....
Remember the infamous line from our new CEO ' 2p, 3p, 5p... they are just numbers... if we find what we are hoping to find then.....' just change it to ' 8p, 5p, 3p... they are just numbers... if we can get what we are hoping to get from you then.....'
All the best guys... and also to you Starchild... please have some mercy on people.
Thanks Qnard. joatmon and Wotitswoth for further inputs, much appreciated.
My assumption was that the Petroleum Act, 2016 has the required legal framework to allow the government to designate sites as safety zones as and when it is necessary by just tabling the papers. While, the actual parameters like the 500M range, air space restrictions under 30,000ft etc has been debated and passed with the Petroleum Act, 2016. I will have to read the Petroleum Act, 2016 thoroughly to confirm this, which I will do later but common sense/rational tells me that would be the case. If that is true, then it sure is puzzling why the enforcement was delayed until 25.01.2021. With JR in the mix, I doubt the Gov will be laxed with these important safety issues but then again we may never know for sure!!
To be precise:
BPC starts drilling on 20.12.2020
New regulations to the Petroleum Act, 2016 made on 24.12.2020 - Not inforce yet
Tabled the regulations in Parliament on 25.01.2021 - It comes in to force from this day
Is this the 'normal' timeline to constitute a safety zone for drilling rigs?
Ta
*Parliament
Cheers wotitsworth and joatmon for the inputs... My first thoughts were on the similar lines but I was more intrigued by the timing of tabling the papers (which happened this Monday although it was prepared on 24.12.2020) while BPC started drilling on 20.12.2020. As per the news report it comes into force when papers are tabled in the parlement, so it only came into force from 25.01.2021, is this a normal practice?
Any thoughts are most welcome!
Interesting development to take note along with what looks like reduced selling pressure from LO!
https://ewnews.com/bpc-perseverance-well-1-established-as-safety-zone-from-ships-and-planes
No worries Phoebus, we all did that... I was waiting for this RNS to see where LO stands... As many will assume IIs don't have to inform the market until they have reached their desired position.. i.e if they want to reach 1% from 7.5%, they will only have to inform when they cross 3%, or if they stop and /or start accumulating... LO are very smart and resourceful and know how to make money and also not lose any!!! So will be keenly following their moves.... The day LO takes a CFD on BPC, we all know it is boom time!!
Guys, LO reduced their stake by 1% (49.2M) before they took up new shares.. so as we all know they have been selling in to the buys and haven't stopped.... Let's just see the facts and base our calls...
Star, good reasoning, I would like to add one more point.
Why did BPC rushed to make the LO deal before the court action?
IMO, They knew what was coming and needed money to fight this case and in case the drill is halted, they needed money to spend until they can get the injunction lifted. As stated in the RNS, now that it has been resolved, there is spare cash, which can be used for drilling expenses. So positive case, they have found oil, which they are testing now, they will know if they have other zones to test as well in less than a week. But again, they may not need this extra money to do further testing.
GG- people more powerful than rich hoteliers are the politicians who want to be rich and stay in power... If we hit oil, it gives politicians money to distribute to people and win their votes.. all the while making themselves rich in the process!!
SS - It may not be NB but someone from the freternity for sure...
TkT - agreed... for now until drill results, we are good and if we strike big, we will be fine too as all of this will be blown away, but at some cost to us ( e.g 20% instead of 25% with farm-out).
TkT...It does not... Just for us to know who are all behind this last minute co-ordinated attack.
I think she has tried her best to confuse us all on her identity but how much ever careful one can be, they will end up slipping up an revealing the identity. She is I think a famous radio talk show host or he/she is connected to that person.
I have a strong feeling that TitanAtlas is a famous media personality in Bahamas, I think she also interviewed our CEO. Not sure who put her up to go after our 'Black' gold though!!!