Member Info for mattwales

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.

wolf i feel he was to blame for rha/zulu.

circum not sure anyone could foresee Potash prices fall so through the floor.

i think he seriously believed price recovery would happen and he'd get the cash he needed.

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.

very doubtful as the finalisation of the Mines and Minerals Amendment Bill still up in the air.

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.

Lowboy, they drilled 2 wells in Guyana that were heavy crude with high sulphur content.

I feel the drop was overdone then the SP got smashed in by covid.

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

the CMD being extremely conservative based on oil averaging $45 2021, $55 2022-2030

highly unlikely scenerios

sellers taking profits from 2.89 placing price with most unable to trade.

in all honestly i think a lot of money has/is being thrown into recovery sectors like oil/transport/travel/leisure/banks.

acker, friday gazette news....

oil/travel/transport/leisure/banks up and will continue to recover over the next year.

are able to take profits ahead of everyone else.

3 broker upgrades since cmd add to that optimism

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.

realistically a fair valuation of Tullow at $49.61 Brent is 45p+.

If oil keeps going up to say $55 in January Tullow will be like an elastic band.

There is a gap in the charts to 67p.

look confirmed shorters are a little over 8% only confirmed because their position is above 0.5%.
Other institutions/individuals will be short Tullow.

All have to buy back eventually.

shorters have to close yet Tullow will be like an elastic band post $50 Brent.

still early days yet people bought from 25p and up they will be taking profits.