Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Keith, with your permission I'd like to copy Brian Carey at the Sunday Times with your above post.
You may recall his excellent article published in May questioning as to whether there exists any material challenge to Minister Ryan’s lamentable and flawed policies.
There's a fair possibility that tomorrow delivers two news releases. The new prospectus, which has leaked, automatically regarded as negative as a stand alone due to the raising of capital at a lower price.
But should this release be accompanied simultaneously, as has been intimated by PG, with an all embracing CPR advice, even including Cory Moruga, then we should be ending the week by flying to a new high.
A very exciting Friday beckons, but if no full story tomorrow the delay will be immaterial. We know how it's unfolding.
Find it odd that after the most exhilarating RNS from PRD in a couple of years there has been no announcement from Tim at Flagstaff, no message of joy either sent directly to this board or to those who receive personal notifications by email.
I really didn't expect, but hoped, that yesterday's news that made PRD the second highest climbing share would have warranted a small mention in one or two business sections but of course without a nudge from your press team you remain in the shadows. With all to play for can only hope for substantial change.
If PG is genuine with his desire to complete a Moroccan deal by late summer this year those target prices to year 3 are meaningless. I genuinely cannot see PG/LB operating the planned CNG operation, being involved with trucks, trailers and the requisite workforce. Prove it up, sell on, retain agreed percentage.
Actually that's quite easy. Loss of confidence in our leader following a sh it show of an interview that left the listeners with more questions than answers. That coupled with disappointment, amazement and confused thoughts that Morocco would be offered for sale at a fraction of the perceived value. Hence 9.1p bid to today's 6.1p
A lot of repair work to do tonight.
Two questions please
a. Have we received the Sandjet, is it in our possession (referred to as one or two weeks away, Sunday Roast one month ago)
b. Same interview, we're looking at completing a deal in Morocco by summer (23). Still the case and if so covering what??
Thanks.
There's some interesting facts and figures in the latest Investment Times from HL.
Amongst their ISA clients millionaires apparently number 626, their average age is 74 and the most common three ages of millionaires are 76, 75 and, I'm delighted to read, 78. A bit late in life to become cash rich, but so be it.
I'd venture to suggest that by the end of this year there's every chance of a few more ISA millionaires on their books!
To any attendee, appreciate it if you could raise the following request with PG/LB:
Could you please RNS the MOU-3 spud date as and when it happens rather than leaving s/holders to guess if/when it occurred. Same goes for MOU-1 test ops.
Thanks to whoever raises the question.
Certainly a degree of clarity regarding future monetisation plans wouldn't go amiss this coming Thursday. Maybe they haven't changed that much other than deciding to prove up more of the licence prior to any deal but it would be good to be told and settle s/holders' confused thoughts.
Something has occurred denting confidence, my guess some privy to info highly likely destined for a Friday RNS.
The last placing announced on a Friday, 17/3, (@5.5p), rather that than say learning that MOU-1/ MOU-3 progress taken a hit. Whatever transpires Griffiths keen to get it out of the way prior to the 18th.
Have largely come to terms with what I believe PG said on the SR interview, ie he's distinctly talking about the sale of the Moroccan subsidiary, Predator Gas Ventures Ltd, and not simply the MOU sum total asset. That sounds to me to be conclusion of PRD's Moroccan adventure, total concentration from the point of sale switches to T&T and Ireland.
As to the special dividend, taking the middle ground on the figures PG quoted, £140m seems the target for 40BCF but whether say 60BCF would result in £210m is up for debate and should be clarified on the 18th (that is if the current goalposts remain in place!)
So working on £140m I'd suggest around £25m retained by the company for future working capital which effectively would result in declaring an approx 28.5pps special dividend. Some will be happy, others certainly not.
No surprise here, whether it's a written report or delivered orally you can virtually guarantee the end result is PG spreading a confused reaction amongst followers. The answer maybe would be to hand over future presentations to Lonny.
Hoping to hear, for curiosity sake at least, whether the MOU-2 sticky clay problem was solved by those clever lab chaps in Aberdeen. Wouldn't require a RNS so expect it to be discussed on the Sunday interview and investors made aware of the outcome and if they still plan to revisit MOU-2.
I'm as enthusiastic as the next bloke regarding Predator's success but there's no point whatsoever trading on false hopes and expectations.
In the last RNS, April 4th, PG clearly stated re. MOU-3 -
Completion of permitting and survey requirements are expected to be finalised shortly. Civil works are due to start on or before 10 April 2023 (OK 7th April) to facilitate the commencement of drilling activities prior to the end of May.
Prior to the END of May.
The exact timing of the start of drilling operations is dependent on transit times for the arrival of all outstanding long-lead well items from a number of different international locations. As this becomes defined then the drilling schedule can be amended accordingly.
So being realistic June will be the month we discover what's down there in MOU-3 whilst meantime MOU-1 test results and Trinidad action will keep the pot boiling.
Grateful thanks PT, when it comes to reportage of Irish energy news little escapes you, you're our number one reporter and much appreciated. One day Ireland, from our perspective, will deliver and reward PRD's persistence.