Member Info for miker444

Just diificult for mm's to put sp value on until we get flow rates / bopd, but a nice problem to have, think this has exceeded all expectations even Integrity Management hence the immediate decision for a 2nd well.

60 ft of play is significant to say the least. Happy days.

atb

Looked at Wick on the UPL board and the P50 states they are looking at 250m barrels of recoverable. Both Corallian and UPL have a 40% interest (100m barrels each) and we have a 32.9% interest in Corallian so a potential 30m (net value) barrels to RBD.

Yes Wick has to be successful but lets not underestimate if it is the effect that will have on the sp, the rig is being moved into position as we speak.

Anyone believe our MarCap will still be less than £25m with positive news, not me for one.

atb

"All 5 wells combined have a net NPV to Reabold of $235m" and that is wth oil pricedin at $55 a barrel not $75+, almost a mark up of 40% ontop of that.
That's just California.

buy just showed up, at least it was reported correctly as a buy. Possible workover news by Friday.

MM's trying to hold this back and will be able to until news, daily fluctuations irrelevant to the bigger picture.

Just like to point out the presentation page I am talking about is not the most recent one and it is what started the ball rolling for me.

The big bonus will be the potential and yes it is only potential at the moment of the extra 300bcf of gas that may exist especially when this has not been factored in to any NPV yet.

Keeping my feet firmly on the ground for the time being.

Thanks holding nearly 9m, I was impressed with the presentation page on the website whch showed if all drills and % holdings come to fruition RBD will have a NPV Asset value of $519m. (17p a share)

Now I fully accept that that is the best 100% result possible but if we only succeed with 30% of those NPV's then we are still looking at 5p - 6p ish.

Either way we should / will be several multi - bags from current 0.8 sp.

atb

Hopefully chrishutch, I have just bought another 3m, the 686,309 is showing but the £20k in my ISA not showing yet. Has to go up from here surely wth news coming from several fronts.

It is nothing to do with running to someone's aid as you know. To call someone bent or a conman is just plain wrong it is not about the recipient it is about the person making that statement.

I know bhargav, I just wanted to remind all newcomers of how you called GH a conman on more that one occasion. The reason was becase of Newmont walking away.

You were beside yourself and all over the place for a few days and very upset.

What you forget is everyone rallied around to support you even though we were all pretty much in shock. You were up a little bit one minute but then down again a few minutes later, understandable under the circumstances.

But since you have made some or all of your losses back you have become contrite, and mocked the very people who gave you moral support and offer advice and continue to do so.

It's GH who has enabled yo to get your money back, no one else, through his campaign on pushing on after Newmont, might be worth remembering that but I dont expect you will.

Bhargav, nice to see you have changed your views on GH, not long ago you stated more than once that GH was a conman, I repeat a conman.

You were banned for a few days on the back of that so hopefully it should be a warning to others that it is acceptable to be annoyed ( after Newmont for example ) and post reasons why but it is unnacceptable for invisible people to post such defamatory personal atacks on anyone who cannot respond or defend themselves.

I am glad you appear to have made some of your money back whether by shorting or any other means but remember that is down to GH cashing in warrants to give him the money to attack a very aggressive drilling programme which already has given some excellent results resulting in the sp moving up again.

But I mean what I say good to have you back on side, we all get frustrated at times but personal atacks such as RTC are wrong, simple as that.

Defend what exactly? Nobody forces me to invest, nobody, its my decision irrespective how a share peforms. If it goes up and makes me money great I will not complain, however, by the same token if it goes down or underperforms then I take it on the chin.

That has nothing to do with making libellous statements and that is exactly what it is. I am not defending GH that is not the issue here. The issue here is what RTC has stated is actually illegal and not necessary or appropriate.

RTC whatever side of the fence you sit on it really is unacceptable to state that GH is bent, that is libellous as it is defamatory and I am being serious. You really cannot state that. It is pretty shameful to say the least and LSE may or may not read these boards or pick up on it but GH does not deserve to have such content stated about him.

Trumpy, truth is no one knows, how can they. Possible Sept may relate to EG but with news expected on several different license fronts then it could be today or tomorrow or pick a date for next update from whichever license.

Eitherway not long and Sept is only 8 days away anyhow.

MM's / someone messing about, as we all know GH rarely does RNS's after hours / 7am so do not think it means one is incoming, if it is it will be mid morning ish and not known prior.

djwall1s I actually agree in that GH should be progressing the most advanced licence / project to at least a JORC to monetise asap, the posts this morning by neillty were spot on.

Its great having 6 100% owned projects and they do look promising and I genuinely believe at least 2 or 3 will be game changers. There is always a risk to spreading yourself too thin even if that risk is only that it takes longer to reach fruition and possible cash burn concerns attributed to that.

What I liked about niellty post regarding Henty (which is described and accepted as a large gold find) is that it has produced 1.25m oz's but over a period of 20 years. So not all finds need to be 5m oz+ or have to appeal to the majors, Barrick / Rio Tinto / Newmont etc. There are many smaller but decent sized companies still with MarCap of several hundred million dollars who are excited about gold finds of say 200,000 oz - 300,000 oz deposits. Henty produces circa 30 - 40,000 oz's gold per year, not earth shattering but still provides an annual turnover revenue ( not profit ) of $50m each year for last 20 years. Not many companies will turn that down, 'bread and butter' springs to mind.

My point is, we all want GGP to find the 5m oz+ deposits, which may well happen with Havieron, EG and possibly Black Hills, but lets not pressure ourselves in thinking that 1m oz deposits or less are small and not worth worrying about, Henty is the proof in the pudding.

niellty good posts.

is what is used as a rule of thumb but not splitting hairs it makes it $1300 or so per ton of dirt and not $3810 / $8310 as quoted by other posters, hence my reply.

Eitherway a lot of profit to be had. atb

There are 32g in an oz. So as gold is approx $1300 oz then that is what it is worth to a miner, less $800 oz for production costs, ( I include purchase from exploration company circa $50oz) a bit higher costs for deeper depth and a lot lower costs for surface / near surface.

Therefore just 1m oz's to a miner at $500 oz profit ( $1300 minus $800 ) would give them $500m (half a billion). As FireTower is near surace /shallow then I would reverse the figures $300 - $500 extraction costs and 800 - $1000 profit oz giving nearer $1bn profit to miner.

Whilst this is a generalisation it's still pretty accurate and easy to see why 5m oz+ deposits attract the big guns when you do the calcs. Havieron should be several million oz's with the intersection 121m @2.93g/t just one part of it. GH quotes this project above all others, even EG and Black Hills in this mornings interview.

Its hih grade at surface or near surface so we can command nearer $90 - $100 an oz as oppsed to the $40 - $50 oz average.
It looks like it will be more than 1m oz's if they prove up the 4km strike (as stated in rns)

Nice update, one of many to come.