Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
danawinner, I believe they were referring to coho-1 being 1 of 4 potential world class assets that are being drilled by TXP and not one of the top 4 in the world. Still good though obviously :)
It's referring to the amount of energy produced by gas and oil equivalent, not the value it will generate. As oilis a lot cheaper it will be less than 1379 actual barrels of oil even without SPT.
When the credit terms were extended the covenant was removed: "In addition, the Amended Term Credit Facility removed the minimum $5,000,000 quarterly cash reserves financial covenant. As consideration for the Amended Term Credit Facility, the Company paid the lender a financing fee of $150,000." I thought this was was being used for the 4 additional wells this year. They don't drill through the wet season so will break until the end of Q1 which would allow time to build some funds again. They don't "need" a fund raise but I'm not ruling one out, it will depend on their plans for ortoire.
They have more shares in issue which is why the price is looks so low, look at the MCAP. My question would be why have they got a higher MCAP than TXP with less than half our production and only 2 planned drills this year compared to our 10+.
Is the MCAP shown here not correct? Looking at these figures 16M would put the SP at just over 19p. Anyway looking forward to the financials on Monday, should be looking good. Agree about holding these, should see a nice return.
Got in at the end of last week, missed out on some of the rise but wanted to do some research before jumping in. Have just finished watching the webinar and I'm impressed with their business plan. This does appear to be undervalued and I'm sure this will steadily rise if they are able to stick to their ambitious drilling plan for the next year. The constant news of new wells going into production should grab some attention.