Member Info for moneyhawk

Last week of January is my guess

I think very likely there will be a farmout. We know there is a lot of interest in the northslope, a lot of oil is being found by others all around us, and we have multiple parties interested in what we're offering.

The biggest question is what will the deal look like. It could represent a gamechanger for us or it could just be a stepping stone along the way.

The conventional was a secondary objective (maybe still is) to the HRZ, and we didn't know the conventional resource was so large to begin with. So really any kind of deal could be viewed as a bonus.

Kalan,

"Are the managed trades over?"

We'll find out this afternoon about 16:36!

I'm starting to think that we may have to wait for the quarterly update to find out.

There could have been a couple of news releases so far this year. Along with the fine chrome circuit performance at DCM during the first few weeks of operation, we could have also had confirmation of the platcro acquisition being completed on Monday.

Frustrating, but since they started with the routine quarterly updates they haven't missed one, so at least we know there will be news coming, just not as promptly as we would like.

I'm thinking as well that drilling in 2021 is a possibility we should be prepared for on the conventional farmout.

Maybe the farmee will want to do some exploratory wells using our 3D on the western side in 2020, which would provide good data for identifying drilling candidates on the rest of the acreage following their own 3D?

That would make sense to me, but I remember it being said that a teir 1 would be looking to plan out the whole acreage together in one go with a view of production across the life of the project. For a major oil company planning production over 20 years or so, I guess 1 extra year wouldn't make a huge difference to them.

Just been wondering about the next steps in the farmout as it was on the plan for 3D acquisition in Q1 (September presentation). Still plenty of time to go in Q1, but are we starting to cut it a bit fine now for getting that 3D for drilling Q1 2020?

Johah, looks like you were spot on! Ask now lowered to 2.55 giving a mid price of 2.475

Impossible to tell. Buy/Sell flags are only an indication based on whether the trade is above or below the mid price of the Bid and Ask, and we've had a pretty wide spread for several days.

I'd guess most trades higher than 2.45p are buys.

Matched trade from yesterday was 174,446 shares at 2.5p and 2.3p at the usual time of around 16:36.

6th trading day in a row now, and brings our total to 3,061,258 shares, just under 10% of BMRs last known holding.

Some tweets put out this afternoon. Not all relevant to us, but two are:

https://twitter.com/BMRGroupplc/status/1083027281537318912

"We had secured the involvement of Jubilee Metals, a significant company with extensive funding and engineering capabilities and expertise and they have been instrumental in the recovery of the licence at Kabwe"

And

https://twitter.com/BMRGroupplc/status/1083028152379678720

"We are working on a circular with proposals subject to shareholder approval for the acquisition of a further licence and the demerger of the royalty agreement into a separate company to be owned pro rata by shareholders to protect value"

The last one looks particularly good news if true. They get 12.5% of the kabwe profits from us, but then we get 30% of it back through our shareholding in BMR

The only indicator that is reliable is the total volume. I think the majority of the time the buy/sell indicators are probably right, but I've seen many occasions where trades I can identify as mine being wrongly listed as a sell when I've bought, and vice versa.

As a general rule of thumb I work on the basis that if the share price is falling then the majority of trades are sells, and if the share price rises then the majority of trades are buys, regardless of how the trades have been flagged. A large % change either way indicates to me a large majority, and small % change indicates a small majority.

No problem topcatz. We should be getting some news soon which will hopefully drown out the fictional ramblings :)

Work having a look at ERG, could be the basis of a lot of the clues given on copper/Cobalt and future projects.

https://www.eurasianresources.lu/en/home

These two in particular stand out as possible targets for a JV:

Chambishi Mine in Kitwe, Zambia
https://www.eurasianresources.lu/en/pages/all-enterprises/chambishi-metals-plc

and

Metalkol tailings project in DRC
https://www.eurasianresources.lu/en/pages/bdp/metalkol-rtr-the-roan-tailings-reclamation-project

The Metalkol RTR project consists of two legacy tailings deposits hosting approximately 113 million tonnes of resources and at full capacity will be able to supply over 24,000 tonnes per year of cobalt (and 120,000 tonnes per year of copper) to the global market. As such, Metalkol RTR will become one of the world’s leading cobalt producers

lol. All very quiet today, hardly any trades going through and just waiting for news on Platcro purchase, Sable purchase/lease deal, quarterly results etc etc. But V seems to have bought his troll with him from the BMR board to provide some entertainment in the meantime.

291,000 shares at 2.47p and 2.3p. Unusually its gone though today before the market closed.

Brings us to 2,886,812 shares on these trades so far.

no, but they do use plenty of water, which will please some posters on here :)

My local Tesco does have a decent carwash, so they'd be a great partner to help keep all the equipment nice and clean. Not sure they'll be any help with the drilling though.

Zambia seems to have quite a few royal families, all with little or no power. Thank goodness LC took it upon himself to go and talk to the mining department himself to sot out the licence.

https://en.wikipedia.org/wiki/List_of_current_constituent_African_monarchs

Not wishing to antagonise any BMR holders, but if anything, JLP probably have the best case of all to make a complaint about fraud and sue for losses. It's difficult to believe the story Borelli put out about the licence revocation letter never being received, and then coincidentally only finding out the licence was revoked moments after we signed the JV deal.

It may be that what is happening now is the price Borelli had to pay in order to avoid the lawsuits, which may well have also crippled BMR.

Since its all a guessing game, I'll throw another name into the ring - EOG Resources.

http://www.eogresources.com/

They're the largest oil producer in texas, very US focused, but have no presence in Alaska. All the activity and recent finds on the north slope could be attractive to them.