Member Info for moneyhawk

Two separate deals Isphahan.

The first deal was to buy the current and future platcro tailings at surface post chrome removal but with PGM material still there. We then had to sort out how to get the PGMs. This is being done by transporting the tailings to Northam's Eland plant for processing.

The second deal was for the Chrome operation at Platcro, which includes all the tailings pre-chrome removal, plus the chrome producing part of it. This deal also confirmed that the tailings stock pile is increasing.

The second deal will hopefully benefit the first deal, along with generating earnings in its own right. By running the chrome operation we can fine tune the processes taking into account the PGM containing material is to be moved to Eland.

I'm not certain, but it has been mentioned several times they will only have time to test one formation before the end of the season. In which case, surely the final announcement we would like to see will be to suspend, not plug and abandon. If both torok and nunushuk look good, it make sense to flow test them both, even if one has to be done next winter.

Kalan, i'm expecting the same, it could take quite a few by surprise.

Although I'm basing that on Platcro Chrome revenue and earnings hitting the books, and then Platcro PGMs starting to add in for the following quarter.

But with the silence on everything at the moment I can't be certain that we've started PGM production for platcro, and that Platcro chrome hasn't been slowed/halted to introduce fine chrome recovery. So just being a little cautious with my expectations until more is known. In the long run neither really matters that much, it will come eventually, but I would like to see both coming though for us in this quarter and the next.

Brom, if I had to speculate on that, my gut instinct says it was carefully planned attempt at price manipulation.

On another twitter related matter, I've just seen this tweet, ChrisOil seems to have exited from RMP:

https://twitter.com/chrisoil/status/1102608378810064896
4th March
*********
Thank you #RMP its been a wonderful ride good luck to the holders i know where my loots going apart from the castle roof

l-a, agree, its a completely daft situation.

But what made this one different (in my view), was that the tweet came from an account that had the appearance of being a reputable source, and someone had put a fair amount of effort into creating that appearance in a pretty short time frame. Until Thursday all the tweets from the account had just been retweets from established sources, then out of the blue 'news' is tweeted that wasn't already in the public domain and very specifically targeted at one oil well that small cap companies (with volatile share prices) are involved with.

Brom, the other key point (which I think you've alluded to), is that as soon as they asked for the trading halt on ASX they had no choice but to RNS in london first thing in the morning with whatever information they had by that point. If they hadn't speculation would have got out of control about significant oil shows, as indeed many of us thought would be the case when we saw the ASX trading halt on Thursday night.

L-a, I think that a temporary suspension on AIM would probably have been best. But from what I understand of the AIM rules, (which differ from trading halts on ASX), is that AIM won't suspend a share from trading that easily. I don't think the rules allow for the suspension of shares to delay the release of news if that news can be released immediately.

I think theres different ways of looking at it SeaHawk, but of course its only speculation as we don't really know the true reason for Fridays news.

Looking at the time of the twitter post and what they knew at that stage going by Fridays news, DW (and the other companies) may have felt they had no choice. The twitter post implied a successful oil find and gave the appearance of being a genuine account reporting actual news. The RMP share price responded almost immediately by going up +7%.

However, we now know at the time of the twtter post they either hadn't found anything (with Seabee showing no oil), or they were doubtful about what they had found at the top of the Nanushuk formation.

Supposing they didn't announce anything on Friday, the LSE and ASX could have risen sharply on the back of a false news report. And then supposing that the deeper Nanushuk zones were also bad, they could have faced some problems from both investors and the authorities for not addressing the false news sooner, and have a collapsing share price.

As we now know, everything is looking good. But along the same lines as above, if they hadn't addressed the false report, there would now be a strong belief that they're running a leaky ship with insider trading going on.

It was perhaps a no win situation for DW and the other BoDs.

Just had a look at the RMP, I see what you mean!

But at the moment, all the news is winx focused. In terms of what it means to both companies, it means far more to RMP than to us, as evidenced by Fridays falls and Mondays gains. But we're both still behind where we finished Thursday and by a pretty similar %, regardless of the difference in % gains yesterday, and that's because we didn't fall as far in the first place.

Yes great read, thanks for posting up.

I don't really agree with the link between Winx and the Farm Out though. DW would surely have known if one or more of the parties thought it relevant, and also knowing that the final Winx Flow test results wouldn't be before the end of Q1 he'd have moved the farmout target to H1 rather than Q1.

Lease map:

http://dog.dnr.alaska.gov/Documents/Maps/NorthSlope_NotificationLesseNov2018_Labeled.pdf

Conoco/Repsol/OilSearch could all be interested in adding to their existing arceage that borders winx.

In the next month or so we can expect both 6 month interim results and the Q2 update. Two good opportunities to provide an update on the projects even if nothing else arrives before then.

Anyone else noticed that RMPs tweet today has a remarkable change in tone from their other recent tweets? It simply says "Additional Interim Drilling Results", not rampy at all.

https://twitter.com/RedEmpResources/status/1102370539144863744

https://www.proactiveinvestors.co.uk/companies/news/215684/88-energy-sees-encouragement-in-additional-results-from-winx-1-exploration-well-215684.html

"In a note to clients, analysts at Cantor Fitzgerald commented: “The company had suffered a rough day’s trading on Friday after announcing that a shallower Nanushuk interval looked to be at the lower end of the range required for commerciality, due to high water saturation.”

They added: “It remains too early to call whether the discoveries will prove of commercial size, with further data and analysis required to determine the plan for stimulation and testing. However, signs appear promising and we would expect the shares to recover strongly this morning.”

The analysts reiterated its ‘buy’ rating and 4.4p target price on 88 Energy shares which in afternoon trading were changing hands at 0,90p, up 13.9%."

BB didn't you say you sold some a couple of weeks ago? Presumably Fridays fall didn't hit you as hard as it could have done.

Certainly does look better today. In terms of where we intend to frac, I think we might have to wait until next week to find out. But it does seem from early indications there will be a choice between Nunushuk and Torok. However, with Nanushuk described as the primary target and the successful Horseshoe well very close by, that would seem to be the logical choice.

Possible more news will come tonight that TD has been reached.

On 28th they had reached 4530', and by yesterday they had reached 6052'. Roughly 500' a day, and TD looks to be around 6,500' from the drilling schedule. Going at the same rate they should hit TD today.

Seems to be a few people today that are determined to find negativity on a good news day. Did they panic and sell on Friday, or are they just upset they missed buying at rock bottom prices?

Yes its a bit frustrating. But as we saw on Friday, the slightest whiff of trouble at Winx will send RMP crashing a lot further than us.

But I never invested in 88e for Winx (or Yukon), Icewine is the main target. Winx and Yukon are bonuses on top, still a long way to go but Winx is starting to look more promising with the news today.

Ok, here's some facts smiffy:

"Repsol reported that the Horseshoe discovery qualifies as the largest US onshore conventional discovery in 30 years."
https://www.ogj.com/articles/2017/03/horseshoe-discovery-extends-alaska-north-slope-play.html

"Winx prospect - delineated on Nanuq 3D seismic with similar amplitude signature to that seen at Horseshoe 1/1A – and only 4 miles East"
http://clients3.weblink.com.au/pdf/88E/02070754.pdf

"Data obtained by the Joint Venture from a nearby successful Nanushuk well has proven comparable to that observed in Winx-1 over the same topset features"
http://clients3.weblink.com.au/pdf/88E/02082767.pdf