Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Megla - The PoO was between $45/bbl and $65/bbl in 2019. Then the PoO was less than $50/bbl for nearly all of 2020, with a negative price for part of the time, where producer's had to pay to have it taken away. Last year the price was mainly between $60/bbl and$80/bbl and this year it's rocketed to just under $140/bbl, before dropping back to $110/bbl, which is a big difference in revenue after costs.
https://oilprice.com/oil-price-charts/#WTI-Crude
This is helping the II's at the expense of the PI's IMHO. Are any of the shareholders lawyers? Are the BoD breaking their fiduciary duty to shareholder's with the this tender offer? Surely a TO should be set at a price that will attract buying and raise the price?
Politics
07.03.2022 / 18:19AA
The draft resolution of the Parliament on Georgia's integration into the European Union was registered at the Bureau sitting
https://www.interpressnews.ge/ka/article/699360-biuros-sxdomaze-sakartvelos-evrokavshirshi-integraciis-shesaxeb-parlamentis-rezoluciis-proekti-daregistrirda
Politics
07.03.2022 / 22:44AA
The European Commission is considering the application of Ukraine, Georgia and Moldova to join the European Union
https://www.interpressnews.ge/ka/article/699408-evrokomisia-ukrainis-sakartvelos-da-moldovis-evrokavshirshi-gacevrianebis-ganacxads-ganixilavs
Mkt Cap £1039m = $1370m
$341m cash at bank 30th June 2021 + $1060m from GoI = $1401m
Full year expenditure forecast of $125m (not sure how much has already been spent in H1, so will use the full amount), will give a cash position of $1401m - $125m = $1276m
Net cash from production H1 of $101m, therefore if H2 is similar net cash at year end plus the GoI rebate is :-
$1276m + $101m = $$1377m + money from the increased oil price of Brent.
IMHO this is trading at a price less than cash in the bank! Therefore, I think it's a sitting duck waiting to be snapped up as soon as the full year results confirm the cash position.
Thanks BH. Incidentally, I don't drink much and prefer quality over quantity. I have the odd glass of Ron Zacapa XO or Pussers 15 Year Old occasionally and good Barolo, Burgundy, Rioja and Champagne when eating with friends and family, but only about 6 times per year. One can of Brewdog V Evil Twin Nitro Coffee Stout @ 9% ABV and I was feeling tipsy.
https://www.tesco.com/groceries/en-GB/products/305839428
IMHO it was a typo BH, as the article was back in January before the current rise in the share price. Hence, $908m was probably the Mkt Cap at the time and not $908bn.
I don't get many Saturday nights off BH, so the wrong place for the decimal point was probably influenced by my alcoholic haze lol.
'Besides, it was learnt that the United Kingdom’s Cairn Energy, with about US$908billion market capitalization, has teamed up with Chappal Petroleum to bid for the assets.'
$1.384bn is the current market capitalization (£1.046bn x 1.32775 to convert to USD). Therefore, the article has CNE valued at 6.56 times the current MC.
It hit $119/bbl earlier today!
https://oilprice.com/oil-price-charts/#Brent-Crude
Zeron100 - Do you have any knowledge of Target-2 and what caused the ERM, Currency Snake and LMU to collapse? Italy defaulted on the last three and threatened to default on Target-2 in December 2017. It was only averted due to Draghi (current Italian PM) being head of the ECB and breaking the rules in buying Italian Government Bonds. I have asked hundreds of people about Target-2 and only 2 people knew what it was and both were for Brexit (one was a journalist who wrote on high level finance and the other a high level banker).
The EU is a good idea for smaller countries like Georgia due to security, but IMHO the Euro needs to split, with the PIIGS in a second tier lower value Euro, for it to work.
IMHO if the tender price is too low someone like HBR could trump it by offering a 15-20% premium and takeover CNE, gaining the production for very little cost, especially in a $110/bbl market. This could be why the BoD are waiting with the tender offer, to see if a hostile bid arrives and then trumping the bid. If and when the money is spent on the share buyback, then the company doesn't become as attractive to other O + G companies who want to reduce debt and increase production for little cost.
Block 12 with it's $5/bbl premium to Brent is now around $110/bbl.
https://oilprice.com/
Brent is currently trading at $95.12/bbl and Block 12's sweet light crude trades at a $5/bbl premium to Brent.
https://oilprice.com/
Politics
28.01.2022 / 21:39AA
Iago Khvichia - Expectations that Misha and Bidzina will be reconciled tomorrow, he will be released from prison and everything will be fine, it is not serious and no one should have hoped for that
Iago Khvichia - Expectations that Misha and Bidzina will be reconciled tomorrow, he will be released from prison and everything will be fine, it is not serious and no one should have hoped for that
"Expectations that Misha and Bidzina will reconcile tomorrow, he will be released from prison and everything will be fine, are not serious and I think no one should have hoped for that," said Iago Khvichia, one of the leaders of "Girchi" in "360 Degrees" program of "Palitranius". President Salome Zurabishvili 's initiative regarding national consent .
As the opposition politician pointed out, no national agreement is needed.
He said the process launched by the president would not work because it was important for the United National Movement to change its approach.
"I think that no national agreement is needed, there is no national conflict in the country. There are politicians from one party and the other who do not like each other and urge their supporters on a daily basis, through their own media and through politicians, to at least verbally reprimand the supporters of another political force. Consequently, I think this is the end of it. If they want to end, even if the "National Movement" stops unilaterally, it is no longer in the mode of rhetoric and decides to behave like a party that has talks with colleagues about programs, ideas, apologies for something - if they find out, they will really have a chance to transfer. From something crazy in parliamentary life, if not and can continue to do the same on the street, Whatever they were doing through the activists, but for a long time it could not continue because their leader is sitting in jail. The expectation that Misha and Bidzina will be reconciled tomorrow, he will be released from prison and everything will be fine, is not serious and I think no one should have hoped for that. I do not know how far it will take us, but I know nothing that is not spoiled by this, "said Iago Khvichia.
https://www.interpressnews.ge/ka/article/693533-iago-xvichia-molodinebi-rom-xvalve-sherigdebian-misha-da-bizina-is-cixidan-gamova-da-qvelaperi-kargad-ikneba-ar-aris-seriozuli-da-amis-imedad-aravin-unda-qopiliqo-isedac
https://community.oilprice.com/topic/25169-europe-gas-market-how-it-started-how-its-going/
https://oilprice.com/Energy/Oil-Prices/OPECs-Shrinking-Capacity-Could-Send-Oil-Above-100.html
RR - If you believe all the claptrap about MMGW, why did you invest in a fossil fuel company? NIMBYism or hypocrisy spring to mind.
sean - I'm triple jabbed, muzzled, not taking any chances and constantly cleaning with gel, foam etc, but it makes me wonder if we're being controlled, or it's used as an excuse for control.
Omicron B is an anagram of No crimbo.
https://www.google.com/search?q=alex+belfield+no+crimbo&rlz=1C1CHBF_en-GBGB971GB971&oq=alex+belfield+no+crimbo&aqs=chrome..69i57.15795j0j1&sourceid=chrome&ie
Lifeishard - Quite possible, especially concerning the period after the arbitration when the GG tried to take back all of Block 12. IMHO it also helps to explain why the company still remains silent with communications.