Member Info for moneyhawk

HH, does look like you may be onto something there. I have noticed JBER's movements as well. Interesting that we are now up, and JBER have moved fairly significantly today.

Lack of detail on Kabwe's progress is getting a bit frustrating. However if we're holding out to buy sable (or a deal to rent/lease?) then the timescale could be a little out of our hands. Partly dependant on Glencore, and maybe partly dependent on government approval.

The Consulmet article is interesting, a quick scan read and you get the impression that they did everything at Hernic. Not sure that is the case though, I think maybe they are just talking themselves up. Reading carefully, it sounds more like a joint collaboration you'd expect between a client and contractor, which would make sense. Despite all the description of what they have included in the write up, what they were approached to do and what they developed, they only actually say they did two things:

1. provided a turnkey solution pertaining to all utilities and reagents associated with PGM flotation plants, and
2. In conjunction with Jubilee, it selected the long lead item equipment for this project

My thoughts exactly LTI. For all we know a deal might have already been agreed in principle, and now its being bounced back and forth between lawyers on both sides dealing with the finer details, which could take a long time.

The last one I'm taking notice of is the trade for 9,946,599 shares @2.25p on 22nd Jan. May be wrong, but I think that was the last BMR sale. The SP hasn't been high enough since then to support more sales at the price they want, with the middle man facilitating the sell off also wanting to take a cut.

I don't understand all these comments about the Icewine farmout being dependant on a successful drill at Winx. Winx is not part of the farmout, and even if we have a successful flow test we'll still going to be in the same position. i.e. we're still going to need money from somewhere to fund significant further work. Winx won't be gushing $ bills out of the ground to provide the source of funds.

The only possible interest I can imagine a farmee would have in winx is seeing the results for the Seabee and Toruk formations to firm up the best drilling locations at Icewine.

Yes a good interpretation of the drilling schedule.

On twitter here for anyone without Hotcopper access:

https://twitter.com/Belcourtoi/status/1097798121529196545

I hope not. A takeover now, even at a high premium to the current sp, would most likely undervalue the potential here in the next couple of years.

A major taking a sizeable stake in us would be preferable to a full takeover, but no sign of that happening either.

UJO's update yesterday afternoon is a good example of why people sell/derisk etc during a drill.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=UJO&ArticleCode=3igburov&ArticleHeadline=Biscathorpe_Update

Not that I believe the same will happen here, just offering up an example of the risks involved in oil exploration and why some people want to limit their risk before results are known.

Looks like Chris Oil has started ramping RMP now. Have to laugh at this 'knowledgeable' tweet:

"When #RMP hit the oil shows next week this stocks going to go nuts like #88e did few years back"
https://twitter.com/chrisoil/status/1098175366005428225

I'm sure he does actually know who is drilling, but must see RMP as a better pump and dump prospect at the moment.

Sumoskier, it's off topic about wres, apologies. Would be fantastic if we knew the Kabwe plant is just 6 weeks away, but alas we're still waiting for news.

However it's a good point that Jlp has remained fairly stable compared to some other junior miners, especially when you consider BMR have been trying to sell more shares than the normal trading volume can accommodate.

It won't really be up to DW either. To state the obvious, there will be at least one other party involved, and most likely that they will become the majority partner in the project.

The best DW could do to influence the timing of the news is to delay the final sign off on the farmout after its agreed. But would he really do that and take the risk that the offer might get withdrawn?

lol, its not often someone understates the number of shares we have!

Sold wres the last time it was around the 0.6p range, and may buy back in if it goes below 0.4 again. Seems promising, when I looked closely before I thought maybe around 1.5-2p was very possible. But also looks like its going to take some time, a bit like JLP! And one of these slow burners is enough for me at the moment until some profits materialise. Don't really know much about EAU, will keep it on the watch list though.

The 400m estimate is for all the formations currently being targeted. See the Edison research note from 29th Jan, 60% is estimated to be in the Nanushuk:

https://www.edisoninvestmentresearch.com/oils-blog/entry/exploration-watch-2019-exploration-wells

The basket price we get won't be the same as the market basket price for pure metals, as what we're producing requires further refinement before its a saleable metal. No different to most other producers really, apart from the big players who have large smelting facilities.

This is worth reading (on the wiki) to better understand what the farm out might include.

https://scholar.smu.edu/cgi/viewcontent.cgi?article=2690&context=smulr

And a bit of a hint as to why its taking time is on page 38 (numbered 795):

“In the classic farmout arrangement, the farmee earns an interest in the farmor's acreage by drilling a single well. When large tracts of land are involved, however, farmout agreements frequently require that several wells be drilled.
A multiple well farmout agreement is substantially more complicated than a single well agreement.”

I reckon from the drilling schedule we'll be getting to Seabee early next week. Would it be too soon for any news on oil shows mid next week?

Also it looks like 5 of the 7 MMs want shares, while only 1 wants to sell at the moment. An indication they're gearing up for increased volume soon?

There's also the battery life issue with EVs. The technology is improving and costs are coming down, but lithium batteries in particular do only have a finite life span, and aren't cheap to replace. Most EV's aren't really old enough to really know what effect this will have, but I can imagine that deprecation will be high in the second hand market in a few years. It could be quite a problem for sellers if a second hand EV needs a new battery costing £5-10k+ when you consider the second-hand value of cars.

5Laws, just wondering if you knew what you were investing in and what you expect from your investment? On 23rd October you asked this:

"Hi, does anyone know what the net profit on each barrel of oil 88 discover is. I’ve read that it’s around $30 to get it out of the ground. Looking at the last announcement, there is 144mmbo net to 88e. That on its own imo would value 88e at around 43b giving a share price of around 6p if successful. And that is just one of the plays!!"

Indeed it is tinhat time.

BTW, what has Enron got to do with us? Enron collapsed because of accounting fraud to artificially inflate (and even invent) profits.

Nothing to do with oil exploration, oil price or even electric vehicles