Member Info for moneyhawk

Don't forget that anyone wanting to make a full takeover of Icewine would also have to negotiate with BEX. So its not as simple as just looking at our market cap and making an offer at a premium that they think the 88e board would accept.

How has it taken 2.5years? The dataroom was only opened in July 2018, less than 7 months ago.

Also worth noting that the RNS telling us about the data room wasn't exclusively for the conventional, on the 30th July we were told:

"The dataroom related to farm-out of both the conventional and unconventional prospectivity at Project Icewine has now been formally opened. 88 Energy and its Joint Venture Partner, Burgundy Xploration LLC ("BEX"), are aiming to complete a farm-out prior to year-end that will result in significant expenditure over Project Icewine to continue evaluation of the large conventional and unconventional potential identified over the past three years by the Joint Venture."

So while Baker Hughes are carrying out further work in relation to the unconventional, interested parties will have already had the opportunity to see some of the data, so a second farm out this year isn't out of the question imo.

Scrolling through the RNS's this morning and this one caught my eye:

http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=ku91visp&ArticleHeadline=Mesquite_FarmIn_Data_Room_Opened

Just to note - I know nothing about this company, not suggesting that it is, or isn't, a good investment!

What I found of interest is that they have given a NPV estimate. Small acreage and resource with an estimated 2.4m barrels recoverable, and an NPV10 of between $21.6m (current oil price) and $28.6m ($60 oil).

Scale this up to several billion barrels, and its easy to see why there would be interest in our dataroom and farmout. Obviously this one is in texas, so not a direct comparison in terms of costs, but currently Alaskan oil is on quite a premium to WTI.

Good to see you back posting Brom, hope you're on the mend. Relevant and interesting research such as this hasn't been as frequent without you :)

With all eyes on the Icewine Farmout, perhaps there's someone out there jumping the gun and starting to prepare for making us an offer on a Yukon farmout? Looking at that map, seems to cover leases of some big players as well as ours, could be one of them? Definitely creates some good grounds for speculation anyway!

Some great points here, and one to add to Rosewall's summary is that we are generating revenue from our projects and are starting to be able to fund projects from our earnings, rather than placings being the only source of income. That's what really sets us apart from the majority of junior miners imo.

As for tjate, it'd be fantastic if one day we do develop a mine. But I won't be upset to see it sold off in order to fund new projects that are quicker to develop and require a lot less cash to get them into production.

And depending on how the various metal prices move, the Kabwe tailings could end up having a higher NPV than tjate over the life of the mine, and requires a fraction of the cost to release that value.

That's a fair point BB, but you never know just how prices for different companies will move and always easier to judge with hindsight.

I view both 88e and RMP as high risk, nothing is guaranteed. But of the two, I view rmp as much higher risk than 88e. Of course higher risk often means higher potential returns, but it also means higher risk of losing everything.

If winx fails, that's pretty much it for rmp in my opinion, whereas for us its one of our smaller prospects that won't be catastrophic if it turns sour. I'm also considering what happens after the drill, more test wells and going into production are both possibilities, and (again in my opinion) we have a better chance of being able to fund our share of further costs that will be involved to maintain our stake in it.

34Deg, very strange that Mike was telling us that is was good weather in Cape Town. Would appear you are correct though, and according to some reports the wind was in fact pretty strong with a few issues being caused on the water:

https://www.thesouthafrican.com/cape-town-wind-report-cape-doctor-prevents-msc-musica-docking/

Its a bit like when he tried telling us what time it was in Cape Town and he seemed to have a broken watch.

A few new pics on the JLP website have appeared. Maybe the Northram plant being refurbished?

https://jubileemetalsgroup.com/platcro-platinum-photo-gallery/

Mikemike, yes that's what I had thought. It doesn't really make sense that breakeven wouldn't be factoring in these costs, when $40 is about what others on the north slope are indicating. If he is right, everyone on the north slope would seem be in the same position, so it wouldn't make sense that the north slope is attracting the level of interest and exploration that we are seeing.

mikemike, I can still see both your posts with this?

Its interesting what he says about Yukon costs, I had always thought that 'breakeven' estimates where factoring in things like royalty payments, transportation, opex etc. Is that not the case?

While its quiet and we wait on actual news, this may be of interest to some.

A while ago I was genuinely interested to find out if Mikesurt had any creditability and whether anything he said really did indicate a risk to my investment, given his fondness of alleging fraud and coming up with wild conspiracy theories.

Here is some of what I've found so you can determine for yourselves whether there is a similarity in these links to our 'Mikesurt', and why I have concluded that he is not is South Africa (but used to be), he has no knowledge or experience of the mining sector, and he is a fraud (and not a very clever one) presumably attempting to manipulate share prices.

http://www.aquariumadvice.com/forums/f59/new-member-to-say-helo-357091.html

http://www.aquariumadvice.com/forums/members/mikesurt-109569.html

https://www.ukaps.org/forum/threads/how-where-did-you-hear-about-ukaps-org.943/page-22#post-490834

http://traction.forumandco.com/u937

That news was released back in October. In my view, it was very significant for the farm out and future valuations, but received a rather lacklustre response from the market

There does look to be an indication that more than one request was made for a time extension.

DW has previously said more time would be given to large companies if they wanted it. So some possibilities could be:
1. the time allowed from the start was just to optimistic for the kind of company we're aiming for to evaluate our prospects against other prospects elsewhere in the world, and come to a corporate decision about where to allocate exploration funds; or
2. a consortium is being formed, which I would imagine would form an extra level of complexity to negotiations around % shares between consortium partners, who is managing the work programme etc etc.

A bit strange that he doesn't think we're drilling beyond 8000ft. In the approved plan of operations it clearly sets out the plan is to drill to 12,000ft, maybe he's not read it?

"The Winx #1 well will be drilled to approximately 12,000 feet true vertical depth (TVD) to test stacked conventional objectives within the Nanushuk Formation."

http://dog.dnr.alaska.gov/Documents/Permitting/NorthSlope/OperationPlans/2018/2018-12-14_Decision_LONS_18-002_Approved.pdf

Good article, this quote from it is interesting:

"The Kabwe project marks Jubilee's entry into Zambia but we have further plans. We are looking at a few copper-cobalt projects in Kitwe "

How about ERGs Chambishi mine in Kitwe? They describe it as "A major producer of copper and one of the largest plants in Zambia"

https://www.eurasianresources.lu/en/pages/all-enterprises/chambishi-metals-plc

MW93 - It depends on what you mean by how much could we sell it for.

If you're talking about how much could we sell the whole lot for in one go, Oil Search paid an in the ground price of $3.10 a barrel on neighbouring leases, which they have since described as competitive.

If you're talking about how much could be made if we went into production, DW has said he agrees with breakeven estimates published by Conoco Philips and Oil Search of $35-$40 a barrel.

lol.

I think most who have lost the best part of £12k on 600,000 BMR shares would be a little upset. But not many of them would resort to trolling bb's with inane nonsense to seek revenge for their own decision making.

I see that he's not able to answer my question, but to answer his, my current average is around 3.2p. Some buys at a higher price than today, some lower, and a bit of trading along the way to de-risk. So like most I'm underwater at the moment, but I'm confident that will change, the only question mark is when. And I'm very confident that my holding will yield better returns than 600,000 BMR shares will do.

I wouldn't say that it looks like the tail wagging the dog. But it does look like a bit of profit taking is going on over there. We're worried about having placing shares being sold off for a 10% gain, they have placing shares to be worked through that are currently on a 50% gain.

I just hope we get Kabwe up and running, and also the next project lined up before CB gets too distracted with tjate again.

I get what you're saying jeffry, but its still a very long term project which we will need to partner with someone to fund/develop it. Hernic is relatively simple in comparison, and its taken us about 4 years to ramp up to target production from first agreeing the deal (or two years to ramp up from commissioning). I suspect that the pallidum price is going to have to remain high for at least a couple of years before a partner/investor could be convinced of the long term profitability of building a new platinum mine

Oh dear, and if we hadn't got this progress report today we'd now be getting people telling us there must be a problem at winx because its been a week since the last update and there's been no word since.