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Two presentations. The first is the from the company website dated Jan '21. The second is from the 121 investor meet dated Oct '21.
Other than notable differences in formatting and a different view of the port, spot the difference on slide 6 on the corporate strategy timeline. Something is missing from the 121 slide. Not sure what to make of the omission???
https://capitalmetals.com/wp-content/uploads/2021/01/Capital-Metals-Corporate-Presentation-Jan-2021.pdf
https://www.weare121.com/121mininginvestment-new-york/wp-content/uploads/sites/9/2021/10/Capital-Metals-Presentation-October-2021-121_compressed.pdf
I think the cost of dredging it was about $15m back in 2018 so probably closer to $20m now I would have thought. In all honesty, I can't see that level of investment from the government or private business.
I wouldn't get too bent out of shape about it, Sri Lanka is a small country - Trimcomolee is just over 100 miles north and Colombo about 200 miles to the west. Cost of freight is probably somewhere between $10-30 per tonne. It changes the economics of the project but not enough to change my mind about my investment
It's looks like it has been progressively getting worse. The sentinal sat images are low res but you can see the changes through time. I wonder what levels of THM are in that sand!
https://apps.sentinel-hub.com/sentinel-playground/?source=S2L2A&lat=7.275122056983865&lng=81.86689853668213&zoom=16&preset=1_TRUE_COLOR&layers=B01,B02,B03&maxcc=100&gain=1.0&gamma=1.0&time=2020-12-01%7C2021-06-26&atmFilter=&showDates=false
I honestly cannot see mou-4 getting drilled this year. Lots to do from rns one month ago and not heard anything meaningful from the company since on progress.
PRINCIPLE 2: SEEK TO UNDERSTAND AND MEET SHAREHOLDER NEEDS AND EXPECTATIONS
The Company is committed to engaging with its shareholders to ensure that its strategy, operational results and financial performance are clearly understood.
Is Ron still a drector of PLIL and 'earning' his £40k+?
Neither a ramp nor deramp - just curious as the RNS didnt state subsidiaries.
From the annual report:
Under an Exclusivity and Referral Agreement between PLIL and Hamilton Fox Holdings Ltd. (“HFHL”), a company incorporated jointly by Paul Griffiths and Ronald Pilbeam to hold performance incentives under the aforementioned agreement dated 2 September 2020, HFHL has an entitlement to performance incentives comprising up to a maximum of 20% of the issued share capital of PLIL split into four separate tranches each of 5%. Performance Conditions for allotment of each tranche of 5% are defined as the signing of Collaboration Agreement in each case between PLIL and bona fide international entities in the downstream LNG and gas infrastructure and distribution business. Allotment of the final 5% tranche is conditional on a Financial Investment Decision (“FID”) being made in respect of developing an LNG import facility
for Ireland. In order to maintain good governance, the two Nonexecutive Directors of Predator Oil & Gas Holdings Plc were appointed to the Board of PLIL to assure a casting vote in all PLIL Board decisions involving any perceived conflicts of interest.
...
During the year under review the Company incorporated a new subsidiary Predator LNG Ireland Ltd. (“PLIL”) to avail of a downstream opportunity introduced by the executive management team through their historical network of downstream business relationships developed over 40 years in the oil and gas sector. Without these longstanding working relationships the Company would not have had credible substance and a track record necessary to be taken seriously in the very competitive international LNG market. In recognition of this fact and the exclusivity granted the Company in relation to the executive management team developing an offshore LNG import facility for Ireland, the Nonexecutive Directors approved a related party transaction effective 1 September 2020 between PLIL and Ronald Pilbeam. Under the terms of a
SubAdvisory Agreement dated 1 September 2020, Ronald Pilbeam is entitled to a fixed Advisory Fee of £40,000 per annum and a technical services consultancy fee of £150 per hour which is subject to prior approval by the Nonexecutive Directors.
No mention of this today...
Special Resolution No.4
"In the event of a successful outcome to the MOU1 exploration well, the Company would seek to drill an appraisal/stepout well at the earliest practical opportunity whilst the Star Valley Rig 101 remained available within Morocco in order to save on mobilisation costs associated with contracting a land rig from another country and taking into account any COVID19 travel and public health restrictions that may still be in force at that time.
The drilling of an appraisal/stepout well also allows the Company to plan for a potential early monetisation of an initial gas discovery based on a Compressed Natural Gas development scenario requiring low levels of capital investment. It is important for the Company to demonstrate that it has the independent capability to develop an initial gas discovery to market whilst planning to potentially attract farminees and/or financial partners to further develop the gas potential of the Guercif Licence."
From the annual report...
"A review of gas development options was also undertaken following COVID19 lockdown, with a specific focus on developing a capital and operating cost model for transport by road of compressed natural gas (“CNG”) to Morocco’s lucrative industrial market, where significantly higher gas prices can be obtained. The scoping criteria for the pilot CNG project was a delivery profile of 10 mm cfgpd for a minimum of 5 years with scoping after tax netback profit of at least US$ 5/mcf based on a sales price of US$ 10 – 12 /mcf. Critically CNG replacing imported fuel oil would reduce CO2 emissions by up to 33% annually for the substituted volume equivalent of fuel oil. "
My fag packet calculations make this considerably lower than the low estimate and little bit more than a whiff!
He hasn't sold any. He has 7,585,794 shares. When the additional 10m were admitted on the 18th, this reduced his holding to 2.97%. Now Paul has his shares back, his actual holding today has been reduced to 2.84% from the enlarged share capital.
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland is pleased to announce that the MOU-1 well was spudded at 0100 hours on Sunday 20th June 2021 with drilling ahead in progress to the first planned 133/8" casing point.
The well is forecast to take up to 20 days to drill and to run wireline logs.
MOU-1 has been given a "tight hole" status and therefore, unless circumstances dictate otherwise, there will be no more information released until wireline logs have been evaluated.
This was my thinking...
From RNS Tue Feb 25 2020
"Completion of the first well will release US$ 1 million of PGVL's US$ 1.5 million bank guarantee with ONHYM, subject to final delivery of all the data from the well to ONHYM."
I thought this may have been an ONHYM imposition
I wouldn't get too excited. It was also on the last one.
https://www.predatoroilandgas.com/wp-content/uploads/2020/05/258867-Predator-Web.pdf
How do you get thousands of people from hundreds of nations where vaccination programmes will be much slower;
- into Japan
- live / stay there
- into the stadia to compete / spectate
- return home
I'm sure there will be multiple willing partners to scale this as quickly as possible if results are positive.
And then announce a little bit of positive news and dump some more. How many shares do you think he's offloaded today?
"I am looking forward to hearing how your hypothesis explains the large sums of money being spent on forthcoming clinical trials."
https://twitter.com/carlsmythe/status/1330639173670363138
Coronavirus latest news: Around 30,000 NHS staff either off sick with Covid-19 or in isolation, chief exec warns
30,000! C’mon, give them something better to help protect them, patients and the NHS
...
When will they ever learn?
When will they ever learn?
I can’t believe none of you saw this coming. They obviously needed £2m for the next steps of work which appear a little vague at best. There was no way they could have got that placing pre-consolidation. The real jigsaw piece was CB resigning 2 weeks ago. He is on record as saying he would never be involved in a placing without using primarybid or equivalent. He had to go and distance himself from this pending sh*te!
some did but I genuinely feel disappointed by the duplicitous way the "schitzophr..." market has been let down by LR. it wouldn't surprise me if the TP evening was just a ruse or a backstop if they couldn't have got the placing away. i'll leave this board alone now as i know my views aren't welcomed. good luck to all