Member Info for Jeremiah99

They said ST drilling would begin in September but I guess it's not as it would surely have been publicised by now? Utterly useless management, or worse. It's looking more and more like a fake lifestyle outfit, promising the equivalent of a leprechaun's pot of gold under ST and we all fell for it. If there really was an IOCG there any CEO would have dropped everything else and concentrated on getting that drilled. Hitting copper there would have sent the s/p flying allowing raises at higher prices or even a JV partner. Two full years on, nothing drilled and we're swirling round the pan. What do the company fanboys have to say about that?

Thanks for the clarification, fatsuperman

fatsuperman, the Sonora lithium mine in Mexico.
From kenny100's post on Sunday - "The Sonora lithium project, located in Sonora, Mexico, is the biggest lithium deposit is being developed by a joint venture (JV) of Bacanora Minerals (30%) and Cadence Minerals (70%)."

Try and keep it civil grobag. I notice a few of the rampers quickly stoop to name calling instead of healthy debate which detracts from their own arguments. I suppose being on a public bulletin one has to rub shoulders with all kinds of undesirables among the majority of decent folk.

And still no answer as to why Cadence's Mcap is only £8m if they own a chunk of the biggest lithium deposit in the world, and have progressed it to BFS, which is beyond a DFS, that too in a far more stable jurisdiction than Zimbabwe?

Well, talk is of achieving 3500bopd at HH by 2021, so c.400bopd to Alba. That's revenue of over £7m a year, equal to our current Mcap. I doubt it would fetch anywhere near it's value if sold. Once good flows are established and a CPR is in place establishing our share of recoverable oil in place, it will be possible to use that asset to raise finance to progress other ventures, rather than issuing more shares. IMO, talk of selling our HH stake is a little unwise at this stage.

I wonder how much debt some of those low p/e companies are carrying?

I forgot the tax but only applied a modest P/E of 10...

3000x65x365x.85x.75x10/6,590,000,000/1.25=5.5p

Interesting point in the first link that bleeding cores at surface may indicate a tighter formation than wanted as oil from a preferred more freely flowing zone ought to have bled away by the time it reaches the surface - if I'm understanding it correctly.

luckyboy05, don't forget that George has diluted us 2-3 fold since the 1p days, so .40p is the new 1p in Mcap terms. Had he not diluted (and what do we have to show for it anyway?) we would already be back at around .40p instead of .15p

Ah, beat me to it, Ibug! :-)

Don't forget some of the BB cores had visible oil dripping from them too and look how that turned out. However I believe the Portland layer is sandstone (correct me if I'm wrong) so more akin to Wych Farm, where they have had steady production for decades and with the more stable geology than the Kimmeridge, are able to drill horizontals up to 10kms long.

The €6m is net assets not cash, however the current Mcap at around £1m is only a fraction of that.

They have €6m so that should be enough to see them through to next year. Drilling at ST was scheduled to begin in September but we have had no news on whether the drill is even turning right now or how they are progressing. As is often the case, that might suggest that things are not going too well?

Why the need for a placing when the winter season is about to shut down operations? (Assuming they have any drilling on the go at the moment)

...gold, and lots of it? How do you know CF? This pumping is getting ridiculous - I'm out!

Lol, just sold some Prem to buy more Alba.

Ruddy Nora!

Thanks, f29 - if Prem go up much more I may sell a few and buy more Arcm
;-)