Member Info for KeithOz

Incredible. 25 minutes after an important (possibly game-changing) RNS, and the share price is unmoved !!! Buy now, before someone wakes up & notices!

Next steps: [with my added comments]

- Spectral to conduct DHEM survey to the end of TA2DD002 [That's A2 as above, to precisely locate the target for next drill]

- DHEM survey to be conducted on KSZDD001, once Target Depth has been reached (drilling operations are ongoing here) [that's the current B hole, almost finished]

- Thorough analysis of all DHEM data, to include consultation with independent experts

- Updating of the Company's magnetic susceptibility model, to take into account latest drilling results, with a particular focus on confirming potentially shallower Proterozoic depths [looks like they think Proterozoic gabbro (older and deeper) is going to be of greater interest in A-C corridor, although area B with 8200 S target is still focussed on the younger and shallower Karoo gabbro]

- A full update will be provided, on completion of the updated geophysical modelling of the northern (Hu****si) section KSZ

- Kavango to host a shareholder webinar to present full results with supporting images and maps (details to be confirmed)
[We are very close to proof of concept, seat belts fastened, please]

This will get things moving up!

https://www.londonstockexchange.com/news-article/KAV/ksz-ta2dd002-downhole-em-conductor-identified/15192947?showDisclaimer=true

- TA2DD002 completed to a depth of 1,001m, within 1 degree of original target

- 350m of continuous altered Proterozoic-age core recovered from 651m to 1,001m, the single largest amount ever retrieved from the KSZ

- Initial DHEM completed in early October to a depth of 780m (using the available winch)

- Spectral Geophysics ("Spectral") has secured a 1,500m winch to complete a follow up DHEM survey to the bottom of TA2DD002

Ø Preliminary analysis of DHEM survey suggests:

- Late-time data from 760m to 780m indicates the Conductive Anomaly exists within 300m of the DHEM survey's completion

- The Conductive Anomaly appears to reside within the Proterozoic gabbro

There are some on this BB and elsewhere who claim that the sort of deal PG wants to do to fund the MOU drilling can't happen in Morocco. So how did Chariot manage to announce this today?

"Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with a leading international energy group (the "Parties"). The MOU relates to the key terms of gas offtake and partnering between the Parties in respect of the Anchois Gas Development within the Lixus licence, offshore Morocco."

"The key terms of the future gas sales agreements will be for c.40 mmscf/d, for up to 20 years on a take or pay principle, to underpin the development. In addition, an agreed framework process has commenced to establish a long-term partnership. The Parties will progress discussions with the view to signing final agreements to implement the Anchois Gas Development with targeted Final Investment Decision ("FID") in 2022 and first gas in 2024."

Adonis Pouroulis, Acting CEO of Chariot, commented:

"Ahead of our highly anticipated Anchois gas appraisal well in December I am very pleased to announce this MOU on gas sales and partnering. Along with the recent high international gas prices, this agreement clearly demonstrates that there is significant demand to underpin the Anchois Gas Development."

If Chariot can do it for their eye-wateringly expensive offshore development, I'm sure PRD can sort out something for our more modest requirements.

Hi Phoebus, thanks, that's extremely helpful. I hadn't thought of looking through Westmount info. At least I now know why I couldn't find the CPR - it hasn't been published. I've been patiently (and not so patiently recently) holding since 2017, should have sold late 2019! One day...

If you don't have any revenue yet, and you are spending money on exploration, then of course the losses appear to be increasing. Just what did you expect for an exploration company? Just saying.

Still some work to do before Acacia is ready for drilling, which will be in 2 phases - shallow 'fence lines' to determine detailed stratigraphy, followed by 'comprehensive' deeper drilling to identify a resource. My guess is by the time the drilling programme is complete at Ditau, it will be just in time to start at the KCB.

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the Company has been awarded an Environmental Management Plan that covers all of its Prospecting Licences ("PLs") in the Kalahari Copper Belt (the "KCB"). These interests include PLs held within the Kanye Resources Joint Venture ("JV") and the LVR JV.
Environmental Management Plan awarded

- EMP covers all the Company's Prospecting Licences ("PLs") in the KCB

- EMP valid for 2 years

Ø Final phase of field exploration underway, towards initial target selection

- Re-logging of data from historic drill holes

- Ground magnetic survey underway on the southern limb of the Acacia target, in the South Ghanzi Project (part of Kanye Resources)

- Work underway to optimise future soil-sampling programmes, to account for changing ground conditions across the Company's PLs

- Initial drill strategy being finalised

Hi Phoebus, re your post last Friday, repeated for Monica on Saturday. You state that "ECO's 2U net recoverable exposure on the Canje block is roughly 145 MMB". That implies 8.3Bn barrels recoverable on Canje, given that JHI has a 17.5% interest, and ECO has 10% of that - i.e. 1.75%. I have looked through a lot of relevant websites, RNSs and news releases, but can't find any published estimates of the Canje resorces at all, let alone 8.3Bn bbl. Can you let me have a link, please? Thanks in advance - Keith

Distracted by lunch, should have added that target I-10 is 2.5 x 2.8 km across. If you are putting in a borehole 12cm across it is helpful to have some more detailed guidance as to what is there - hence the TDEM. I'm sure they are not expecting to find Cu or Ni sulphides, these and other base metals are not generally associated with carbonatites, so presumably they are hoping to find a more concentrated zone of REEs, possibly with Niobium, which is also strongly associated with carbonatites. Mountain Pass in USA and Mt Weld in Australia are both major REE resources associated with carbonatites.

Have you noticed that the Pr/Nd spot price is now at US$ 100,000 per ton? And the absolutely vast quantity of Pr/Nd required for the magnets in all those wind turbines that are planned? Each MW of generating capacity requires 200kg of Pr/Nd, and an extra 1000 GW are planned by 2030, so where's the 200,000 tonnes of REE going to come from? That's just for wind turbines, now add in all the electric vehicles, etc. That alone might explain the excitement expressed by both BT & PJ.

The group of structures at Ditau are circular in shape. Both kimberlites (diamond pipes) and carbonatites are generally circular in appearance, and commonly occur in groups, so there was a degree of uncertainty as to what these structures are. The fact that they have been drilled by a company in search of diamonds, and found not to be kimberlites. is thus positive for KAV, since this means they are much more likely to be carbonatites. A much higher proportion of carbonatites contain REEs than the number of kimberlites that contain diamonds.
GoldJ - welcome to the forum, but I don't understand your post - what is the misdirection by Ben, and what do you mean by an FCA correction? - presumably Financial Conduct Authority, why are they involved and in what?

Gentlemen, gentlemen, $16Bn a year sales for a £18M market cap company? - if you keep going like this you could be accused of ramping...

The Nador Port article states that it is currently being developed for LNG, coal, & oil IMPORT. Not sure of the economics of trucking compressed gas from Guercif, then liquifying it at the new Nador facility for transport elsewhere in Morocco.

Very high pressure systems (10K PSI+) are invariably caused by thrust faulting - faults with a predominantly horizontal rather than vertical plane. This is the case at Kela-2, where gas is derived from underlying coal beds, trapped in a sandstone anticline (dome) sealed by a thick layer of salt, and squeezed by thrust faulting from the sides. So GRH's memory is fully functioning on this one, the geology is quite different.
However, I am more than happy to exchange our lower pressure for a resource the size of Leviathan, which is twice the size of Kela-2, which is itself by far the largest discovered resource in China. I am sure you all know that China is a much bigger country than Morocco!

Can see things 30cm across in my back garden, but it is taken about 2 years ago, so not so great for seeing well developments.

Renergen is listed on the ASX as well as the JSX, so I have been following it for a while. I find it difficult to believe a lot of what they say, and find it very curious that no real detail has ever been released of either the size or composition of the resource. They are capitalised at about AU$300M, but need a multiple of that for upfront capital. My view: high risk (much higher than HE1) until verifiable detailed information (to internationally accepted standards) is available, but your own research might lead you to a different view.
This is a fair summary:
https://www.dailymaverick.co.za/article/2021-10-20-helium-producer-renergen-filled-with-hot-air-or-a-giant-in-the-making/
We were asked for views on other Helium stocks. Frequent readers will know that I specialise in resource companies, because of my background. The only other Helium stock in which I am invested is Blue Star Helium ASX:BNL. I currently have holdings in only 11 resource stocks worldwide, so draw your own conclusions. BNL will be drilling shortly and have a good prospective holding in Colorado. You can look them up on Proactive Australia. I cannot comment on the US-listed companies mentioned here earlier - they may be OK, but I do not have the time to research everything on earth, and most importantly, I have given up owning North American stocks since their markets are only open when I am asleep!

Thank you Nic/Sheep. Interesting stuff, I don't know how such people can still be allowed to operate. There's a very true saying that the easiest way to spot a psychopath is by the trail of destruction they leave behind them. Nowadays such people are termed as suffering from SPD - Sociopathic Personality Disorder. I neither know this person, nor am qualified to diagnose such a condition, but the issues raised in the article, if true, would seem to point in that direction. I have met CEOs whom I suspected of such a condition, including one who was a UK Peer of the Realm, and there are currently several Heads of State who behave in the same manner.

Sheepy - this sounds like a quote from an analyst, it would be very helpful if you could say who, and post the link.
PS, Anyone: for a non-UK person - who or what is TW? Thanks, K

Hi Vegas - I agree that this figure of $215M appears to be the NPV10 for the 25MMcfgd scenario which was RNS'd a while ago, presumably as an example of what a potential joint venturer might want to offtake (aka Michael Caine). About a month ago I made my first attempt to calculate the NPVs of the different production scenarios. The problem with this methodology is that the NPV & IRR are increased by pulling production forward, but also decreased by additional upfront costs and lower terminal value - that is highly dependant upon what assumptions you make on depletion rates.
Because of this range of unknowns, I decided to base the latest set of valuations on the potential volume of gas in place multiplied by the PRD-calculated NPV. I agree that just because you have twice as much gas you will not make twice as much profit, and that is partly reflected in my amateur calculations. Quite simply, we don't have nearly enough information to make an accurate forecast, but we do know enough to see that even in a very conservative case, PRD is currently significantly undervalued. We can revisit after the 3/4 flow tests!

Just being going through the meeting materials, and see in the latest MD & A this on Hungary:
"Falcon continues to maintain and safeguard its Hungarian wells and review its operations in Hungary, evaluating all
options available to the Group to deliver shareholder value. The Group maintains its 100% interest in the Máko
Trough."
All very well, except absolutely nothing has happened since 2007!

"Between 2005 and 2007, Falcon acquired 1,100 km2 of 3D seismic data and executed a six-well drilling programme
on the Deep Makó Trough. Each well encountered thick sequences of hydrocarbon bearing rocks, and tests flowed
hydrocarbons from each tested horizon. Several wells flowed gas on test and one well, Magyarcsanád-1, tested light
oil. The Makó-7 results demonstrated the presence of a very large column of hydrocarbons in the well-bore."

So what is the $450K per quarter administrative costs being spent on? Mostly director remuneration and fees, plus an additional $180K on share-related bonuses. I hope that shareholders are intending to ask questions of the board, and vote accordingly.