Member Info for Makeabundle

Even if LOGP’s sunken costs are only the $20m spent on renewing licences it would still represent about 1.2P per share value to a buyer and developer when he makes his tax returns at first oil and gas. In other words you can deduct at least that from any purchase price to find the true cost to a buyer. Is that correct? Are the sunken costs greater than $20m? Assuming of course that the LU is resurrected.

If LG has committed himself to a JR what is the problem? If he hasn’t why not? In either case LOGP needs to get on with the ECT case if there is any ambiguity in LG’s position, which there probably is since he will see himself as the dominant partner calling the shots. Vague assurances and time wasting should be given short shrift - provided LOGP has the firm financial support of all its major shareholders.

Flombo, either you or LOGP must be gasping for money!

Swizz has said money is not a ptoblem. I cannot believe LG can get away with daylight robbery yet again. LOGP are so certain to win their ECT case in fairly short order they will have backers gasping to get a slice of the action, don’t you think?

Flombo, I think Swizz will take issue with you over some of that! There were a number of funders expressing interest, for example. Boldy must first be in discussions with Vevan, is how I see it. He cannot long delay making some kind of meaningful announcement.

Imagine Ryan or anyone else refusing EOG an LU in two years' time for some ridiculous reason in the middle of LOGP's ECT case. Alternatively, imagine the grant of an LU to EOG at the same stage. In either case the litigation will be swiftly over. Unlike in the Rockhopper case against Italy the ECT will reject all appeals, except possibly the final award appeal. This case will last a maximum of three years, if that - not the ten years+ some fool has mentioned several times in the past on this board. I think the Irish government must know this. Paying out huge sums to LOGP during power cuts in 2027? I don't think so. By the way, the Irish government is lucky to have farmers of the sheepish variety and not French German or Dutch Rottweilers snapping at their heels in central Dublin.

Donalb may be right - it looks like two down with one to go. Unless BOE is being singled out for the sin of having oil as well as gas. EOG get their extension without warning, PRD have been warned to expect one. Whatever next?

Maybe Martin and Varadkar have seen the blinding light themselves and communicated the good news to the DECC

Suddenly Ryan is convinced BOE’s finances are in better shape than he thought??

Prevarication, refusal to answer, partial pictures, omissions, dissembling and a smattering of knowledge posing as real expertise are the hallmarks of the gentleman you refer to, BoB.

Mr YK, do you know much about the 17km river bed in the Tipil licence area? Maybe little is known except that the geologists considered the area to be promising. There had been previous mining of some kind, I understand. Have you any further information?

Tilly, I liked that bit about B1ll losing his edge! - he never was that mentally sharp to begin with.

Same from me as well, Swizz.

Have there been any drill results from the 17km stretch of river bed in the Tipil licence area?

You would expect to find higher concentrations of PGM aggregate in certain areas of a river bed. I think Montmuzard is right that this a wake-up call to prospective buyers to bridge that the gap before the EPC is invoked. The existence of the EPC levels the playing field and must be an encouragement to any would-be buyer, except possibly NN. Mr YF is on record as saying he would be very surprised (or similar) if NN were anywhere near the negotiating table.

I stand corrected. It is still fairly clear what the BoD are saying:

if you want or need to have WK you need to act fast, we will accept the offer on the table otherwise.

That is why I think the T in NKT is an important consideration since this part of that licence is held by KK.

Maybe EUA has been asked to invoke the EPC on behalf of one of the bidders? It becomes available by default for any purchaser? EUA start the ball rolling by hiring? Maybe another bidder can only stop this process by a higher bid now (if they do not want or need the EPC)? Just speculation on my part.

Rants, tantrums, shrieking, banshees? - Don’t tell me that person is back! - I’m glad I see no evil, hear no evil - just a silent restful green expanse!

The DFS(2021) allows for mining at several open pits concurrently. Not sure how far apart they are. Possibly quite a distance.

I do not believe the BoD would leave themselves open to having their bluff called and having to mine themselves. A certain level of offer is already on the table which CS/BoD will have to

(reluctantly) accept if not bettered. I thought possibly he had fired the starting pistol before Christmas but maybe this is it now.

I wonder who lifted the phone first - Boldy or LG? That is, if they are in discussions at all.

The EPC contract with Sinosteel is also available to the buyer, I seem to remember. An added inducement to all concerned. Crunch time for all bidders?

Spud. you missed out the part that made CS plain jubilant and not just pleased:

Furthermore, the identification of an open pit part as well as near-surface high-grade veins of the NKT area represent further upsides ( to NPV $1.2m+). Sell this ++ the rest for 500m?

The Russian State would be most displeased. Friendship with BRICS only goes so far! EUA will want to remain in good standing with the authorities.