The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
This is what Spike said in regards to the license renewal. Make of it what you will:
"In order to complete the 3D Siesmic work we do, in reality, need a 1 year extension to the current licence which expires in Sept 2022. GBP have to apply for this extension but it’s granting is [almost certain] . It is in Namibia’s best interest to allow the extension but, in any event, it would be granted under force majeure owing to the Covid pandemic disruption. Rumours are that the extension is granted or at least in principle."
"They don’t have the ‘right’ to the extension as such but they were confident that, if they wanted it, it would be granted… they said so in multiple RNS’s. Other companies, in similar circumstances, have also been granted the extension. The main reason, of course, is that at this stage in the 4 year licence, GBP have amassed enormous amounts of data and other information from the work undertaken which put them in the driving seat, especially with NAMCO having a 17% stake not to mention all of the tax revenues which Namibia would earn from a discovery.
It would have been reckless to extend the licence before the Graff & Venus results were known. Far better to secure the extension now that we know Namibia Offshore is gushing with massive amounts of oil. Namibia now knows that it has oil in The Orange Basin, she will be excited to find out as quickly as possible whether that is the same in The Walvis Basin.
On top of all of that, what signal would it send to other explorers if they saw GBPs licence being pulled away from them. They need confidence to keep spending money on their own projects. That confidence would disappear instantly if Namibia had refused the GBP extension."
They're stuck there for a while IMO. Having said that, they'll just increase their artillery intensity, level the cities a la Grozny and claim 'victory' . But then they'll be stuck battling an insurcency and a hostile local population.
Guess it's just the uncertainties with the license. Plus the general geopolitical sh*tshw playing out in Eastern Europe.
It has occurred to me that the 'farmout partners' COULD be Shell and or Total. Just wild speculation on my part. But since they have an active interest in the region, they would of welched out of any potential farmout if their own drills turned out to be dusters.
As it is, they might be interested in buying up the whole region. Again just wild speculation on my part!
I wasn't really talking about the market when I wrote that.
I seriously don't think that this week will be good for anyone.
Wasn't he ramping the cr*p out of this yesterday?
Conroy already owns 2,795,522 shares. Maybe if the company hadn't lost 99% of its value since its IPO then the market would be more confident.
Plus there's no 'bonanza' strike with epic grades that the punters like. Just a JORC based around grades of 2g at shallow depths, abeit over a wide area.
It is what it is.
I suppose it might be 90 days if you include the wireline logging?
When will the results be known?
Saying that, they don't really do open world games and aren't really strong on RPGs. So IDK.
I suppose the 'life simulation' quote gives the game away. It's obviously EA (Electronic Arts). Probably been pointed out 100 times before
Basically any big budget title from the likes of Ubisoft, EA, CD Projeck Red, Epic Games, Take 2 / Rockstar, Konami, Activision, Sega, Sony, Microsoft, Capcom, Bandai Namco, Sony, Square Enix.
No one at the company has said that they DEFINITELY 'have' between 8 and ten million ounces. It's an exploration TARGET of 8.8 million ounces and they HAVE announced it to the market:
https://www.lse.co.uk/rns/CGNR/exploration-target-increased-to-potential-88m-oz-gold-i40ai8b80ft6myl.html
The joint venture will provide the additional finance and technical expertise necessary to prove up the resource via an ACCELERATED drilling campaign, beginning early next year.
It's really not that difficult to understand, unless you are being deliberately fallacious.