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I don't think we can completely rule out Chinese investment, but I doubt we'll see someone like sinopec making a major deal before before the us-China trade dispute is sorted out. They're working for a resolution by 1st march, when further tariffs are due to come in. Possible that Chinese investment into the us oil/gas industry could be part of a deal.

However, I also think that there's more likely contenders with the majors already on the north slope.

"the famous 88888 trade" - lol

On a similar note, its the Chinese new year tomorrow and the start of the year of the pig, an animal that symbolises wealth. With 8 also being a lucky number in Chinese culture, could tomorrow be a doubly good day?

Interesting idea edzi. Following the latest tailings dam collapse in brazil, I can see that the clean up of historic mining waste across the world could gain a much higher profile in the next few years, and become somewhat of a growth industry.

Kabwe is a great opportunity for us to be at the forefront of that, and demonstrate that we can do it on a large scale. I don't know if funds would be available that we could apply for, but if they are then it could be very worthwhile.

That's a good possibility that news on all the projects will come in the quarterly update. Should be a good update with the fine chrome at DCM and Platcro Chrome both adding to the figures this time.

And its also not helping the SP having BMR off loading shares into a market with very little volume!

It wouldn't be a complete surprise if there's been a problem somewhere, and that we won't get any indication of it until much further down the line, most likely wrapped up in a positive statement about progress in a direction we weren't expecting!

Possible biggest problems could be 1. the movement of PGM material to Eland is running behind schedule and they won't start processing this month, and 2. we've not been able to agree terms on sable.

Either or both of those isn't a huge issue in the long term, we'll get there eventually. Will just take a big longer and the earnings forecast timeline is moved back a bit.

But for now, in the absence of any other information, have to assume that everything is going according to the plans we've been told about.

I think the next 4 to 5 months are going to give a very clear indication of where we're heading in the short, medium and long term.

A decent farm out deal for the conventional, followed by unconventional (or both together?) could give us enough cash for a couple of years, maybe long enough to see us through to Icewine going into production, and reduce (possibly remove) the risk of further dilution. Positive results at Winx will add a lot to our creditability as an explorer and operator. And of course Yukon could spring a surprise this year, looks like someone is already interested in it with the new 3D survey being carried out, maybe with a view to a farmout deal, or even a buyout.

Into February now, and processing of Platcro PGMs should be starting at the Eland plant. Hopefully that's all going to plan and we'll be told when it starts, when up to speed that should at least double our current PGM production.

Definitely getting to an interesting period for us. Two weeks time we start drilling, around the end of the month we'll be getting to the Nanushuk. And in about 8 weeks we start flowtesting winx, and that'll of course be the end of Q1 and the extended period for the conventional farmout..

Then after that, we've got a second farmout for the unconventional possibly coming up before the end of Q2. Many reasons to be positive at the moment!

Interesting, would those blocks be the ones the 3d survey is covering by any chance?

After all the ramping of RMP on their chances and the value to them, it would be somewhat ironic if we're unsuccessful with the Nanushuk, but we do get oil flowing from Seabee and Torok. With 60% in the Nanushuk, that would reduce the 400m to 160m, and would be a disappointment to the consortium. But it'd also be good news for Icewine if oil flows from those formations.

And it does look like the biggest risk is the seal for Nanushuk from reading the Edison note, so there is actually an outside chance of that scenario happening.

Its interesting the difference between Aim and ASX. Out of the four consortium partners (now including Pantheon), only us, RMP and Otto have been releasing all the weekly updates on Winx, with all 3 listed on ASX. Otto even had a trading halt yesterday which looks like it was because their announcement was running behind ours and RMP's.

Pantheon on the other hand are only listed on AIM and have chosen not to release all the news, presumably because they don't regard all the updates as newsworthy under AIM rules so they don't need to tell the market about them. Their last update was 17th Jan to say the permit to drill had been approved and ice road construction started.

Good point seahawk, Although in fairness, poorly worded RNS's are not unique to DW and 88e, its not uncommon to come across an RNS from lots of companies that provide more questions than answers :)

Brombarb, yes the statements about the HRZ farmout do seem to be a bit contradictory, with being told the HRZ farmout has commenced and dataroom opened for it in July 2018, to (from last quarter report) "ongoing studies and analysis at year end expected to be complete in 1H 2019 ahead of commencing an unconventional farm-out campaign", and then back to "Farm out process underway to fund further appraisal" (page 20 of the presentation).

Which is why I have started to wonder whether Baker Hughes were engaged to provide a second opinion following a request. and resulting in the change of emphasis on the HRZ farmout. And that has also subsequently led to the conventional farm out delay if there's someone interested in both together.

After all, it's going to be an awful lot of money involved in exploration of an unconventional resource that hasn't yet been proved viable.

I guess the only way we'll find out for sure is when the deal(s) get announced. Has the HRZ farmout progress been downplayed in the quarterly reports to manage expectations due to uncertainty with evaluation still on-going?

If (as expected) the conventional farm out deal is announced first and its with a major who has significant expertise of unconventional, then I'd put them as odds on favourite for the unconventional farm out as well within a few months.

HH - makes sense to keep all options on the table for as long as possible. It looks like the HRZ is going to only really be an option for a more select group than for the conventional. If we have one (or more) from that select group who are interested about taking both together, then it would certainly explain the comment about extending the deadline to maximise the number of bid ready parties.

Looking back on the history, we were in fact told on 2nd July that the HRZ farmout process had commenced (at the same time as being told Icewine2 is suspended), then 30th July came news that the dataroom for both conventional and unconventional had been formally opened, with the evaluation process for the HRZ ongoing and expected to take several months.

Then on 20th Dec we were told Baker Hughes had been engaged to review all the HRZ data, and "The initial review is now complete and is consistent with the prior work done."

I'm wondering whether its possible Baker Hughes were engaged following a request for a 2nd opinion from someone in the dataroom?

Looking back on it, just seems a little strange that their initial review was only completed almost 6 months into the farmout process.

This will be very upsetting for those who want to push a story about the HRZ and Icewine2 being a complete failure. Not only do we have confirmation that a farmout is underway for it, but its also possible we might be seeing some HRZ oil flowing later this year. Fingers crossed!

lol staycalm. Not sure whether these trades do add to the total, its not as clear cut as before. Previously we were getting matched trades at the end of the day, with the number involved also matching a total of other flagged trades during the day.

The trades being worked on a managed sell off looked to me to be:
1. Normal buys from MM during the day(varying prices above 2.5p), and then
2. Two part trade - BMR(probably) to Broker (2.25/2.3p) and Broker to MM (2.45p -2.5p)

That stopped when we had the 9m+ trade for 2.25p with no matched trades to go with it. So I'm wondering if these trades since then are linked to the 9m+ trade and not actually adding to the total? If right, we'll see these late trades adding up to 9,946,599 eventually, and then maybe another large sell for 2.25p. And I think its the 2.25p/2.3p trades we've really got to keep an eye on for the total being sold off.

Just a theory!

Don't know for certain Phrontist, but I think unlikely following todays presentation. The drilling schedule indicates they're stopping at approx. 6,500ft to reach the torok formation and then preparing for flow testing, and nothing we've been made aware of suggests that there's anything below the torok at Winx.

But just testing both Seabee and Torok will be a big bonus for us at Icewine. Will further de-risk a fair amount of the 2B+ conventional before we've even drilled a well, and we'll have some great data to help with identifying drilling targets at Icewine.

Think that's a little unfair sharebuyer! Sumo often makes very valid points, not always right, but none of us are. I think he comes across as a little more impatient than some, and just wants progress to be made quicker. I'm sure we'd all like quicker progress, but don't always say it in such a direct way :)