Member Info for mick2020

To add to the fun (and confusion), the Tanzanian authorities are also allocating money to build a geothermal power plant. The first well there was was spud on 22 March..
it's almost as if they don't want gas!

https://www.afrik21.africa/en/tanzania-tgdcs-plan-to-produce-200-mwe-of-geothermal-energy-by-2025/
https://www.esi-africa.com/industry-sectors/generation/spudding-in-marks-progress-for-tanzanias-geothermal-aspirations/

https://www.reuters.com/article/us-emirates-nuclearpower-idUSKBN2BT16E

Katherine is very busy with fabricating an ESG report and of course her important work as director for Longboat Energy and ITP power. On top of that, she has to find a way to justify spending 5 mln G&A this year as a non-operator doing nothing at all, and they were celebrating Bob’s 75 birthday earlier this year!
Give her a break! ??

"thoughtful and considered, a "good listener who believes in following the correct procedures". "The most underrated politician in Tanzania". "A very capable leader".

Sounds promising. I think this is exactly what Tanzania (and the O&G industry) needs. All the best to her!

https://www.bbc.com/news/world-africa-56444575
https://www.bloomberg.com/news/articles/2021-03-19/hassan-to-assume-tanzanian-presidency-with-authority-in-doubt?utm_source=google&utm_medium=bd&cmpId=google

If Kazatomprom were really planning to buy uranium on the open market I seriously doubt that they would tell anybody. They obviously want a bull market as well! :-) 60$/lb in three months time? It would not surprise me.... :-)

So much money has gone into the Uranium sector lately, that a bull market MUST follow... If normal demand isn't enough to lift the spot price, then an artificially constructed demand will do. I expect a rapidly increasing spot price the next few months!

And indeed, the lack of rainfall will help as well, particularly in the 2nd quarter! :-)

That new cement factory is likely to be years away from start-up unfortunately (and it will be located in Tanga, north of Dar or the pipeline) and it could well be posturing from Tanga Cement for now, to entice the government/Tanzania Investment Centre to sign an agreement that they have been waiting on since 2013 it seems, see the link below. I haven't heard any news about the Symbion plant either unfortunately.
I think the current extra demand coming from Songas, which seems to be taking gas from the Mtwara–Dar pipeline at the moment, see 2nd link. Also Dangote's power plant seems to be running now, which should add about 10-15 MMscf/d I think.

https://twitter.com/MichaelMwebe/status/1333633545152159744/photo/1
https://www.ippmedia.com/en/news/defective-generators-cause%C2%A0power-outages%E2%80%94tanesco

UEC and Denison have joined YCA in buying physical uranium! Up we go! :-)

https://finance.yahoo.com/news/uranium-energy-corp-establishes-physical-103000887.html
https://www.denisonmines.com/news/denison-announces-funding-of-project-finance-initi-122729/

I can't escape the feeling that YCA is trying to push up the uranium spot price itself, by taking away so much supply from the market…

Nice move! ??

Alph,

I thought the Twitter post about Magufuli was quite shocking actually. Saying that, I think a change of power would be good news for Tanzania. It's usually only a matter of time before "strong leaders" turn into " highly irrational dictators" in Africa, and Magafuli is well past this stage in my view.
May the next corrupt politician stand up and PEACEFULLY start transferring all power to himself, illegitimately or not....
It could give us window with some fairly reasonable decision making: halt Stiegler's gorge, complete Kinyerezi extension, give us a licence extension beyond 2031...

Thanks for the audio webcast by the way.

https://twitter.com/tzdyetu/status/1371408253590982663

Thordon,

In any case it sounds as if they had an excellent start of the year! A production rate above 80 MMscf/d should generate revenues well above $20 mln annually, so plenty of room for a big dividend increase. I propose a permanent 50% dividend increase later this year, and in addition, a one-off special dividend of the same amount, as there is no need for the company to to increase its cash pile even further....

2021 could become a very good year indeed! :-)

Poor translation, but average Q1 production of 80 MMscf/dwith 100 MMscf/d the last few weeks?

"On Mnazi Bay, for the first months of 2021, the demand is quite high now, 100% of 70 million per day. We are today accumulated an average of 80 million. And these last weeks, we have a demand that was about $100 million"

https://finance.yahoo.com/news/edited-transcript-maup-pa-earnings-083000045.html

Dangote has switched to gas: https://twitter.com/moneyacademyKE/status/1366064969113100289
70MW railway power project completed: https://www.energymixreport.com/completion-of-sh70bn-70mw-power-project-readies-sgr-running-in-tanzania/
$1B Cement Factory under construction in Tanga (2x Dangote): https://cceonlinenews.com/2020/06/29/construction-plans-begin-for-tanzanias-sinoma-cement-plant/

to get a few more! :-)

Thordon,

Sorry but you are mistaken. Wentworth is not in a closed period anylonger (since October/November already). Why do you keep repeating this?

Looks like we're about to hit 350 trades again this month, after the 423 trades in January. Not bad. We were (well) below 150 trades per month most of the time last year, so interest seems to be growing! :-)

https://www.londonstockexchange.com/stock/WEN/wentworth-resources-plc/trade-recap

https://news.yahoo.com/french-nuclear-watchdog-extends-lifespan-092152338.html

What an excitement... NOT. Wentworth RNS's almost never fail to disappoint. So very frustrating. Is this all we can expect this year Katherine? An ESG based marketing effort? We need real news. What about a licence extension, a buy-out of M&P's stake or some other M&A news? What about cost savings? What about reducing the board size? Any efforts to increase gas demand in Tanzania? Any update at all?

Back to sleep...