Member Info for miker444

The one MMI figure which stands out from the others is copper obviously @ 2750 ppb. Copper is usually indicated as a % and not as g/t so does anyone know how to calculate % from ppb.

I do believe 1000ppb equates to1g/t, certainly where gold is concerned. Any maths whizz kids out there, I am coming up wth 0.36% but happy to be corrected in my own calcs.

Rio Tinto more interested in copper as we know so thats a brucie bonus if % is commercially high enough.

Its also worth pointing out the NPV figures are not Reabold's but estimates given by Corallian / other invested parties etc.

sp rising and they only have planned drills in Wick & Colter and with no RNS released its not apparent what is making it move, yes there are decent buys but looks as though news may have filtered through, to them at least, might not be but just a gut feeling.

atb

Absolutely greendave and very much keeping a level head and feet on the ground atm and this is AIM but what potential even if only 1 of the projects comes off.

atb

May well have been the email asking for correction which prompted todays presentation update rns.

Looking at Badger from the presentation the 399bcf gas ( Recoverable from 566bcf GIIP) that alone will be massive for ADL in terms of potential revenue in relation to current MarCap £3.7m ish.

With 25% stake of Operators 66.7% holding that gives approx 17% net to ADL which is 68bcf. The current gas price is circa $6.1 per 1000 cu ft and therefore worth a whopping $400m to ADL.

These bcf are the figures taken from presentation so not ramping and yes it has to succeed otherwise it won't be worth a penny but if it does (Badger being talked about as the largest potential 'undiscovered' gas find in the N Sea) then just imagine what that $400m will do to the sp with current MarCap.

Surely worth holding for 6 mths to a year to find out ( or sooner! )

atb

Excellent post Tiburn, a year ago apart from PI's no one had really heard of GGP. After HAD001 and the excellent grades we actually appeared on Rio Tinto and Antipa website presentation maps as discoveries.

To gain an ex Rio Tinto employee of the standing of Clive Latchum suggests we are heading for a JV if assay results come back favourable, even HAD002/3/4 were showing 5 g/t plus, just appeared disappointing because they could not compare of meet our expectations of HAD001.

atb

Beat me to it Matt,

Rambo if you look at 11th July RNS it goes into a lot of detail, further down the page about consolidation.

atb

Hi news, yes the first paragraph states ' Advise the Board during any potential negotiations with Major Mining Compaies'.
Looks like its going to be Rio Tinto, certainly if HAD006/7/8 etc show visible mineralisation as HAD005 double layer 239 metres ( HAD001 was only 140 metres but incl bonanza 139 g/t and 121m @2.93 g/t )

Is HAD001 now similar? and goes into 2 layers seeing as they stopped at 600m depth, the surface spacings are only 100m apart so I think GH will return to HAD001 and go deeper, If only we had a drilling team onside, perhaps we could do a part cash part share offer, oh we have lol.

atb

Probably the most important word in the RNS,

"The Board look forward to working with him and leveraging his senior relationships accross the Industry"......

He has been brought in to act as a go between with his established contacts with Rio Tinto, pretty obvious but the word leveraging is more subtle.

The mm's have picked up on this. Looks like thats why GH popped back to London just after HAD005 double layer of visual mineralisation. A job interview no less.

atb

Thanks Boom, as we all know whilst no price sensitive info is or can be released from such conferences quite often there is a lot more detail / meat on the bone aligned to 'deals' we already know and also seeing people in the flesh as it were its quite easy to get a feel of their integrity / ability and plain simple confidence as to how likely they believe the deals are in being succesful.
Its the freedom you don't get in an RNS so for those who do attend hopefully some feedback will be offered or even better a video of the proceedings from the website.
Simon Gorringes CV is damn impressive especially in Asia and UKCS, say no more ( bunga mas / badger)

atb

Agree Jace, its only the fact it is AIM that is holding me back from going more in, holding 5m now but wisdom says to keep a balanced portfolio, all eggs in 1 basket as it were but Colter alone will make this current £3.75m MarCap look silly imo and that is pretty de-risked.

atb

Just bought £21k in 2 hits, just feel that this will not hold here much longer and just incase news next week, wouldn't want to be outof this the weekend lol

atb

Hi Matt looking at the markets everywhere is down at the moment, bit of a bloodbath going on, just stay put mate its not just ADL at the moment.

atb

Hi Boom, it will certainly be in 100's of $m's, looking at Badger gas alone, the mean average of 266bcf with 25% interest of a 66.66% licence is 16.7%.

So that equates to 44.4 bcf to Andalas which is approx $266m @$6 per 1000 cu ft. With Colter this pushes it to $350m ish.

That's without BungaMas and appreciate that has not got total approval yet but some huge re-rates irrespective of that. Even if we are aiming too high some serious multi-bagging even with just 10% of above. Someone quoted 38p/40p, it happens but you and me both been here before, on numerous occasions!

atb mate

Hi Boom mate, as you know I am invested in both ADL and RBD and a pretty accurate value of what Colter is worth to ADL can be made from looking at RBD's presentation pages.

They state that RBD's 17% stake in Colter ( via 32.9% holing in Corallian's 51.67% Colter holding ) is worth approx $132m for oil priced @ $55 a barrel.

So ADL has 8% of Colter which is nearly 50% of RBD's 17% and therefore net value in the region of $60m or so.
What is even more exciting is there is a sliding scale of what net vaue increases with higher priced oil. Believe it or not when $55 a barrel is increased to $80 barrel ( a rise of $25 ) the net asset value goes up two thirds, yes 66%.

Quite often we look at volumes of oil / production etc but a golden windfall can happen with the same amount of oil production but due to a rise in $ per barrel alone.

I know you are aware of that as we all are but the $80 will put ADL Colter stake nearer to $100m NAV as opposed to $60m @ $55, of course it does work both ways but looks like oil is not going to drop just yet due to uncertainty and volatility least of all with Iran.

Your estimates whilst looking huge are actually conservative imo. Off home now.

atb mate

PaddyG fair point, some of these drills are only 100m - 200m apart so more than likely the geology doesn't stop in a straightline and the first hole ineralisation may well be similar in depth to hole 5.

At the time GH did state that they thought the mineralisation could continue after the bottom depth of the 600m hole.

Very good situation to have a drilling team holding shares so its in their interest to go the extra mile (not literally).
If there are indeed 2 layers of mineralisation and both are more than 100m in depth then this truly has the potential to be massive.

atb

Agree SB well done mate. Looking ahead with the second drilling camapaign at Havieron if the 10 holes are to take approx 10 weeks (1 hole per week on average ) and last week we had HAD005 drill completion and off for assay we should be able to assume we are due an update practically every week from now on for completion at least of the remaining holes.

To hit 239 metres of 'significant visible mineralisation' with hole 5 does suggest either GH has been incredibly lucky or we do have a potetially very large mineralised gold & coppr find.

If we get similar 'visibles' from any of the other holes it is also a good indicator of the direction of the strike in addition to the volume. GH could hold back the info of the other holes but not sure what there is to gain as until assay results we will not truly know the grades but at least it will be updates of completion. We may get the assay grades results in one hit.

I think SB is correct in that people may just be waking up to what GGP could have at Havieron and whilst only conjecture I tend to agree with others that GH would not fly halfway round the world to give a 5 minute update interview in London when he could podcast.

We know GGP were included in majors map presentations incl Rio Tinto so did he want to speak in person to certain parties who have recently been made aware due to the HAD001 hole results.

We dont know, just yet.

atb

at $55 a barrel for all RBD's current assets or $625m @ $80 a barrel, same amount of oil but just look at how it goes up when oil price goes up. There is a sliding scale chart on page 10 of a recent presentation ( just $25 a barrel increase gives 67% increase in NPV).

I think your $300m - $400m in 2 - 3 years is not only conservative but may well happen sooner PDSM. I've got 11m and thought that was the mutts nuts so bravo to you ( not jealous at all, honest! )

atb

and talk of $100 due to Irans's loss to the market of nearly 2m barrels a day. Just remember all the NPV's of RBD are calculated with oil @ $55 barrel.

We will have to wait for monetisation by Steve & Sachin, (not sure people realise it's monetisation that what will send sp skywards) but as and when they do the NPV's will be double as to what has been quoted on the presentations.

For what it's worth i think both RBD and ADL are looking good for exceptional returns and I am happy to be invested in both, just curious at to why one is being played against the other by certain posters.

Anyway oil is on the up and looks to stay there for the forseeable.

atb

excluding additional wells, excludng additional deals, and priced at $55 a barrel, currently ($79.40) so no they not priced in.

RBD are just starting out, only 2 choices, invest and enjoy the ride or sell up and walk.