Member Info for nomlungu

From the accounts:

"External valuers may be used to assist with the assessment of future decommissioning costs."

Does this mean that external valuers were not used?

"As detailed in note 20, the provision at reporting date represents management's best estimate of the present value of the future decommissioning costs required."

Bearing in mind the inadequate original estimate of costs to reinstate Saltfleetby some might question how reliable management's best estimates are?

"These financial statements do not include any adjustment that may result from any significant changes in the assumption used."

So going concern assumptions include Saltfleetby debt being agreed and drawn down and a successful appeal at Balcombe. At least they have warned shareholders what could sink the company?

A number of posts have been made along the lines that the company would have made smooth progress on its projects if this pesky virus had not hampered them. Those posts do not square with this quote from the accounts:

"The COVID-19 pandemic has not had a significant immediate impact on the company's operations."

they are a videogame company - first day of trading

This is a big attack - I am expecting some odd market moves to happen because of leaked info. Watch your bank accounts if any companies store your banking details.

https://www.bloomberg.com/opinion/articles/2021-03-08/one-wrong-hack-could-start-a-world-conflict-like-none-ever-seen-before?srnd=premium-europe

It is supposed to be a crime not to follow the census rules - if it is supposed to be on the 21st why are they letting you do it early? Planning on using a VPN to confuse GOVs servers / data harvesting system.

https://thehill.com/opinion/finance/541971-will-the-real-financial-bubble-please-stand-up

Tut-tut - why did they not say they were going to secure the medicines with blockchain?

When you bear in mind the global problems with counterfeit medicines it would have made a great ramp factor. Then they could have done a lovely placing at a discount etc etc etc

Tut-tut - why did they not say they were going to secure the medicines with blockchain?

When you bear in mind the global problems with counterfeit medicines it would have made a great ramp factor. Then they could have done a lovely placing at a discount etc etc etc

I normally pay attention to global weather failures but was unaware that last years Typhoons failed in Taiwan and that they are now in deep trouble.

https://www.japantimes.co.jp/opinion/2021/03/05/commentary/world-commentary/taiwan-tsmc-semiconductors-water-drought/

https://www.reuters.com/article/us-taiwan-drought-semiconductors-idUSKBN2AO0G3

https://asia.nikkei.com/Business/Tech/Semiconductors/Taiwan-s-chip-industry-under-threat-as-drought-turns-critical2

Yup - got to raise the money to drill the well to find out if there is oil and then to test to see if any oil found is commercial.

Have you ordered your new car and house in the sun yet? I think there was mention of the Bahamas...

What price will the placing be; or will it be the lovely convertible loan path?

Bangs make oil go boom?

https://www.bloomberg.com/news/articles/2021-03-07/witnesses-in-saudi-arabia-s-dhahran-city-hear-loud-bang?srnd=premium-europe

IG let you go long on a spread bet but will not even let a punter hold the shares? Maybe you should have asked for a price to go long and a price to go short; if they would not offer a short price it might have been a sign that they felt the share was one that they would rather be on the short side of.

Interesting read

https://www.crescat.net/february-research-letter/

Wrong shaped grains - from the BBC article below:

"The overwhelming bulk of the sand we harvest goes to make concrete, and for that purpose, desert sand grains are the wrong shape. Eroded by wind rather than water, they are too smooth and rounded to lock together to form stable concrete"

https://www.bbc.com/future/article/20191108-why-the-world-is-running-out-of-sand

Well, you might battle to get Daffodils as due to the pandemic and Brexit Brilliance they are rotting in the ground.

https://www.falmouthpacket.co.uk/news/19109992.cornish-daffodil-farm-loses-money-rotting-flowers-due-brexit/

And they are offering £1k a week wages to pickers, but lazy halfwits would rather lie on the couch at home picking their noses than stoop down and pick flowers. If I had political clout I would urge allowing people doing such monotonous manual jobs to be allowed to smoke weed legally.

From 14p to the current price it is a 94.46% drop. So close to 95% and the coveted card confirming that management have managed to destroy all but 5% of shareholder value.

What an achievement to be able to boast about - being rewarded with virtual membership of such an elite club. And somehow they have managed to get paid much more per barrel of oil than UKOG's hero Lord SS.

Maybe they will be upgraded to the Life Membership package?

Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000

https://www.nytimes.com/2021/02/22/business/nft-nba-top-shot-crypto.html

Crazies everywhere

I should have added a comment about the dangers of the liquefaction of granular cargo - it can have catastrophic consequences so bulk moving sand is challenging / dangerous:

https://www.bbc.com/future/article/20180905-the-cargo-ships-that-liquefy

This CNBC article made me remember the stories about Greenland's potential a couple of years ago - "A sand shortage? The world is running out of a crucial — but under-appreciated — commodity"

https://www.cnbc.com/2021/03/05/sand-shortage-the-world-is-running-out-of-a-crucial-commodity.html

Old stories:

https://www.reuters.com/article/us-climatechange-greenland-idUSKCN1Q01YG

https://www.nytimes.com/interactive/2019/07/01/climate/greenland-glacier-melting-sand.html

https://www.sciencedaily.com/releases/2019/02/190211114219.htm

Not seen any stories about the potential being exploited yet though.