Member Info for moneyhawk

$500k may be loose change to an oil major, but if they were to walk away now they'd have effectively given $500k to facilitate one of their competitors drilling. And not just drill, but probably using plans they have spent time and money helping to identify the best location(s). Can't imaging that's something anyone would really want to do. The exclusivity agreement may be because there are others sniffing around, may just be a precautionary requirement of handing over the money to start work, but whatever the reason it does signal intent to proceed imo.

Spike 12.59 - Seems to me that our SP has gone down today simply because the update wasn't what was expected. If we'd had news of the exclusivity agreement out of the blue and not when we expecting to hear the terms of the farmout, then it may have been a very different reaction.

Very different scenario to BPC as well. Their exclusivity agreement was to carry out a technical evaluation for a potential deal. Ours appears to be to fund initial work required for drilling this winter while final terms are agreed.

May be biased, but I'd say we are in a much better position than BPC were.

Agree nothing negative announced, other than it wasn't the update everyone expected for early august.

No doubt many things are happening that we're not aware of and DW can't say yet, but it does seem a bit strange that we've only now entered an exclusivity agreement. Perhaps DW has got fed up of waiting as well and has asked for money on the table to get things moving in time for next winter. Or maybe we've got another party waiting in the wings so the 31st Aug date really is a deadline for the deal to be signed off?

Nice link on bashers btw :)

Spinefx, I've tried before as have others, but most don't seem to want to understand the performance rights

Hu11, that'd be my guess as well. Probably bought on the basis of a short term investment during the winx drill only and now getting desperate.

Only problem with this is that DW doesn't have any options at 3p

Really S4K?

I think you have completely misunderstood what is happening here, and buying in during the winx drill is not really a long time for most here. We have been in a JV with Bex (burgundy) since the start of our Icewine journey. Bex are not providing the $500k mentioned today. Bex are not funding future drills anymore than 88e is.

The preferred bidder, (the farmout partner), is still to be named.

Burgundy have been our partner in Icewine from the start. They are not the farmout partner!

?? What update are you looking at S4K?

Haven't seen the bmr accounts but unsure why Vanadium wouldn't be taken into account. Our plans seem pretty clear, phase 1 to include Vanadium. Could it be they're working on assumptions from their old plan that LC ripped up?

I don't really see that as an issue. At the moment our 29% of BMR is effectively worth 0. We've acquired their best asset for a minimal amount, while GLR have picked up the rest. Without anything of any value left to sell and no other way to raise funds they'll go out of business pretty soon unless something changes.

So if they relist and raise funds through placings our shareholding will become diluted, but it will be worth something instead of nothing.

The PGM amount we're receiving looks comparable with SLP (who also produce PGM concentrate), once you work out their revenue per oz, not the basket price they quote.

A bit of a mystery on the chrome.

Q1 revenue £3.117m, earnings £1.309m
H1 revenue £6.599m, earnings £1.219m

H1 with a footnote "2 = Project earnings include project expenditure on plant and equipment as well as negative stock value adjustments for FY2019"

So, the reduction in earnings would suggest some expenditure has been incorperated into the H1 figures.

As for the apparently low amount being received per tonne, its not been confirmed what we are actually doing at Platcro/Windsor in terms of material and who owns it.

The volume of tonnes and low revenue perhaps points to us toll processing material from other mines, and not processing our own material. If we were buying the material from the mines, then the revenue should be a lot higher (but then so would our costs)

Maybe the post at 9.04 mistook lease surrenders for transfers? Don't know where the 35-45k range comes in though, the QR gave a precise figure of 45,480 acres for leases surrendered.

That all seems to tally up with the new acreage figure in the quarterly report. I've also looked and can see no indication of transfers in the official data.

Unsure of the exact figures, but some of the acreage is leased from the Arctic Slope Regional Corporation, not from the DNR, and some is held by BEX not Accumulate. The figure in the quarterly report is the combined acreage, so will differ.

I'm hoping that guzzler eases off on the ramping for the next few days so I can get into 8th place in time for an announcement on 8/8, lol

S4K, you're no. 14 on the list :)

Does look like a good positive update showing we're heading in the right direction.

Just looking at H1 figures for revenue and earnings, that 6 month period is greater than the whole of last year (Year ending June 2018). Seems very likely that the annual accounts in November will be showing us in profit for the first time.

Still a lot more to come, and if they can get the copper sorted out at Sable then it'll be an even more profitable acquisition than first assumed.

Yes not long to wait now. Will be fascinating to see what the deal is, as it will be our first glimpse really of what the industry thinks of Icewine's potential.

How long depends on what DW views as early August, but the simple fact that he has narrowed it down further than just giving a month does indicate he already knows what he'll be saying and that he'll be able to say it soon.

Just looking at the date for the surrender of the leases, 27th June, 1 day after we were told of the farmee board agreeing the deal.

Would make a guess then that the the negotiations included agreements on what leases would and wouldn't be needed for future plans.