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ivans, i think you mean Katete which PREM have held years and another frustration of why it wasn't developed.
The only RNS soon to pay wages on/around Jan (if they are continuing with shares).
PREM need $3-5m to develop MNH/RHA/Gold and GRs delays are costing PREM time and time again.
The lack of newsflow because PREM have no money to pay for anything will continue until he Consolidates the shares and places enough money to move things along.
Otherwise, PREM are just paying wages and running up consultant fees every 3 months like they are now.
of course PREM will consolidate.
GR has alluded to MNH needing cash and also alluded to upping PREMs stake into an RTO.
PREM needs $1m for the gold survey/2 stage drill and cash for RHA and to pay off a bribe for ZULU.
Get all the above money PREM has a chance to dig itself out with newsflow.
i am surprised it hasnt sunk to lows seen in 2019 due to covid/Zimbabwe/GR.
lowboy, i agree with your assessment of the developing world.
Africa for example will grow new car use 20 fold by 2030 with used car use on a similar 20 fold scale.
Thats just cars, half the world is going through an Industrial Revolution then they gain a middle class and then factories to supply products to that middle class.
With regard to Tullow I am attracted to the fact that very early on in the crisis they cut costs massively from $45 to $35 a barrel overall operating costs. They also hedged 60% of their production at $57 2020 which has allowed for the massive restructuring in cutting costs.
Also, they are looking to lower debt which also reduces their debt payments year on year.
The $500m from Total for example obviously will have an impact on debt payments going forward with $75m still due in.
Out of every listed oil company it got smashed down more than the others with the exception of Premier Oil which in my eyes makes Tullow Oil a Takeover target just like Premier Oil was.
their own website suggesting cyclical stocks (which include oil) could recover.
someone should've told whoever went short lol
https://www.am.pictet/en/uk/global-articles/2020/monthly-market-views/asset-allocation/december
https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Inch-Towards-50-On-OPEC-Agreement.html
you can bet when Brent passes a psychological barrier of $50 shorters will be increasingly looking to unwind positions.
$55 another psychological barrier.
Tullow oil will be like an elastic band.
still early days yet people bought from 25p and up they will be taking profits.