Member Info for moneyhawk

How long before we rename to Jubilee Palladium (and other metals) Group?

The ASX listing rules for continuous disclosure (Rule 3.1 and 3.1A) are relevant here:

https://www.asx.com.au/documents/rules/Chapter03.pdf

Information that would have a material effect on the price must be disclosed immediately to the ASX, unless, under rule 3.1A, the information concerns an incomplete negotiation (along with other exceptions).

So I think we can take it from the silence that rule 3.1A applies. If nothing was happening and there were no negotiations there wouldn't be an exemption for disclosure, and no FO or nothing happening would be information that would have a material effect on the price.

I suggest all the people still saying there's no oil in the HRZ or that it won't be of interest to anyone should read the RNS's for each. There is a big difference between what was found at Icewine2 compared to Winx. As some examples:

The last ops update for Icewine2 (2nd July 2018) said:
"The Joint Venture believes that the flowback data, combined with results to date from core and logs, demonstrates that the HRZ is comparable to other early-stage commercial unconventional plays and that, as per those plays, progressing to horizontal appraisal wells is now the best use of time and money."

The last ops update for Winx (13th March 2019) said:
"The clay serves to bind much of the fluid present in place so it cannot flow. It also occupies pore space within the formation, resulting in a lower relative hydrocarbon saturation. This means that, whilst oil is present in the reservoir, there is less of it and it is not mobile"

Spot the difference anyone?

10.19 - "The number of 'new' posterrs here means something....."

It could do!

Bar a few exceptions, I'm doubtful people would be interested enough to post on a share BB if they either didn't have a current investment and/or they didn't think that there were gains to be made.

Not necessarily S4K. Those of us that were here in Dec will remember the FO date was extended on the 2nd to last working day before Christmas.

We don't know who's interested and negotiating, and we don't know just what they are interested in. Possible someone may find both the conventional and unconventional an attractive proposition, which would be far more likely than Winx being involved in the deal imo. But that if that's the case, it may take longer.

I'm of the view that if DW feels our best option is with someone who says they need more time then they will get that time, as opposed to DW accepting just any deal for the sake of sticking to his own deadline.

I think for the Investors show, they should really have details on the value/benefit of our fine chrome process, whether our new acquisition is generating earnings and what the status/progress of kabwe is. The first two in particular aren't strictly to do with the interim's due and would be more appropriate in the quarterly update.

But since the quarterly figures will be too late for the Investor show, then maybe a 'post period under review' section will be included, or a separate RNS before the end of next week.

Interesting point Sumo. UK Investors Show is on 30th March. That's after the last date for interim's (29th March), and before the current quarter finishes.

They can't release news at the investor show without telling the market first. So do you think we may have some updates in the interim's?

Farm out could come any day, but I'm also taking the view there's potential for that day to be after the end of this month. If it takes longer than expected, not much we can do really other than to wait or sell up if that's why you're invested here.

I do believe that its still ongoing and likely to happen, if all the parties that were interested had walked away and nothing was happening we'd have had an announcement by now. DW has made so many statements about it that he can't just brush it under the carpet now.

16:09 - Yes just looked at another AIM share I'm in and something very similar earlier today. But not nearly as many trades in that one.

Looks a bit odd, almost 50 of them for around £100 each. Perhaps a small time trader putting through a load of small sells in an attempt to push the price down to then buy back in? Hasn't moved the price though, whatever the reason.

** that should say 'Before'!

Just a reminder of what was being said about us before we had the Winx deal, an article from last winter summarising our prospects.

https://www.nextoilrush.com/88e-about-deliver-game-changing-farm-out/

Still very relevant, was written before the farmout process commenced. Everything mentioned here is still very much on the cards, but with an upgrade to the conventional estimates and greater understanding of the HRZ to add in.

12:45 - "Can someone please explain to how we can possibly expect a FO seeing the disappointments with WINX & RMP "

More to the point, can anyone actually explain how Winx is involved in the Icewine farmout? Winx is a drill we participated in that is on leases we do not hold, and which is many miles away from Icewine. No information from 88e has ever suggested that Winx is of any relevance to a farmout for Icewine. There are 3 other listed companies involved with Winx, none of whom have ever made any announcements that they are actively seeking to participate in a combined Winx/Icewine farmout.

Olddad 12.00 - "if WinX had been successfull, we would have been able to count on future cashflow"

How do you arrive at that conclusion?

If winx had been a success, and a plan emerged to go into production, the time scale for that would be around 4-5 years before we would see any cash flow coming in. This would also involve a lot of further investment to get to that point before the cash flow arrived.

Marward, there is a chance the SP will fall on every listed company on the stock exchange, so yes there is a chance our SP will fall. No one knows if, when or by how much. If the person who is advising you hasn't made this clear, then perhaps seek some alternative advice is what I would say.

But in terms of prospects for 88e, a lot of holders here bought in before the winx deal happened last year. The reason many bought in is unrelated to winx, and that is Icewine with conventional and unconventional oil across 100's thousands acres on leases that are ours. Winx doesn't really change anything to where we were a year ago.

Ignoring the fact that AIM and ASX rules differ for suspension of trading, how would a trading halt on both AIM and ASX help?

The two markets operate at different times, one will resume trading before the other.

The news, whatever it may be, could well result in a lot of trading and SP change, with one market always seeing that first. How would delaying that help?

I wouldn't describe myself as an 'expert'is this field, but what I would classify as 'good FO news' is news that we have a FO agreement.

There are countless permutations for exactly what the FO agreement could cover. Until we know the details its difficult to judge just how good it will be for us.

The trades showing as 'sells' aren't necessarily sells, some could be buys, its not possible to be entirely certain on the buys vs sells split.

But whatever the split is, the MMs appear happy to keep the SP at this level for the time being.

He's gone a bit quiet since the news. Going by his tweets he was buying RMP at 5.5p on Tuesday so may not be that happy with the situation now.

Will be interesting to see if he's changed his view on the farm out being dependent on WInx results.

I believe from looking it up previously that the asx rules are for AGMs within 5 months of the end of year, so 31st may would be the latest date possible. There doesn't seem to be any consistency with our agm dates, which leads me to speculate the timing of the announcement and date is significant. However, may be absolutely irrelevant and of no significance at all! Only time will tell.