Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Frustrating as it is if it’s a choice between getting on with business and concluding same or taking the time to keep shareholders aware of every move taken to achieve their goals then to me they are on the right course. PRD are hardly staff rich, on the ground they’re miniscule in numbers and budget. We’ve had updates that turned out to read more like a list of intentions or yet another review of where they’re at. We don’t need more running commentary, what we’re waiting for is the match result, how many quality goals we’ve scored.
I’m convinced PG is a long way down his chosen path of attracting that ‘larger entity’ he favoured. Here’s a thought, bit left field for some no doubt, maybe the MOU-1 rigless testing has already been carried out by this JVP at their cost as the result would be pretty key to their DD/participation.
Wherever we’re at right now agreement between three parties is always going to slow things down, despite circumstances screaming for production/sales at utmost speed. The bigger the wait the bigger the prize?
Hope so.
Who remembers Poseidon who owned mining rights in W Australia and discovered nickel in summer 1969, and lots of it?
Their shares at the time stood at a pre-decimal 4 shillings.
In September, when the size of the find became known, the share began its meteoric rise and, helped by rumours within a couple of months topped out at £120 before common sense kicked in, the bubble burst and the price slid back down to £10.
I'm not purposefully drawing any parallels with PRD except to say that massively opportunistic events do occur, markets and practices have greatly changed over the last 50 years but investors' appetites to mount a winning steed, albeit temporarily, will never tire. We're still at the starting line, chomping the bit.
I'd have no problem with a placing, say £15m raised, 500m shares in issue.
PRD could then proceed at their pace, production revenue from early CNG adding to MOU4/5 finance requirements.
Full percentage as it is at present (75%) retained most profitable medium/long term.
All said we may already be knee deep in a yet to be announced JVP.
Just another 8 weeks remain before the opportunity to invest into a new ISA season.
The mind boggles at what price PRD could have reached by then and all the forthcoming Bed & ISA transactions.
Which, for the second year running, are unlikely to be offered by HL.
Down to one's own critical timing yet again to shift share account stock into the protective ISA.
Boo to HL.
To my knowledge I don't think Predator has ever been mentioned in the daily's market sections.
That could all change tomorrow morning of course.
If not comment on continued price movement is just a matter of time and when the word is out the squeeze on stock will be acute. All to the good for LTH.
On Dec 15 we were informed....
'The Company is currently negotiating a Memorandum of Understanding with a significant entity in the downstream marketing of gas to work together in an exclusive relationship to determine the potential market for FSRU gas and for gas from seasonal storage operations in order to optimise the technical specifications of the FSRU and gas storage facilities for gas send-out to meet periods of high demand and high gas prices.'
Nearly two months have ticked by, gas power since adjudged in a much kinder light, we must be close to hearing more about this potential development.
Looking forward to this week, same time last year we began the run up to an over-heated 20p.
A year on we are so much nearer to really breakthrough news on so many fronts.
Very exciting times for all holders and new investors.
Thanks for that Liveinhope. Good article, wise words.
" Given our vulnerability and long-term requirement for gas, the failure to actively pursue exploration around the Corrib field, our last secure supply, is extraordinary."
Hi BDT, we'll just have to wait and see won't we. The IPSC renewal should only be granted on the understanding that EOR must be undertaken where appropriate and PRD are currently the only guys in town offering a CO2 service.
I'm hoping both sides will put their differences to one side, come to a sensible agreement and get on with making money whilst WTI $ riding high. ATB
vegas, only guessing but doubt that cash will be offered to PRD to clear their debt. Rather I see the whole operation re-starting at TI with 100% of production revenues going to PRD to clear the outstanding £500K before the deal reverts to the agreed 50/50 sharing of all additional enhanced oil production. In other words we've come full circle.
Of course, if CEG fail to raise the £4.3m successfully via the conditional placing late Feb then all bets will be off.
Wonder what stage we're at in our action against FRAM to recoup £500K owing (1.6p per share)
Hopefully an update on this when the full story of our future T&T involvement emerges and, although I thought LO were favourites, a tie up with TRIN looks quite possible putting this asset on a firm course for the future whilst allowing the BOD to concentrate on far greater returns elsewhere. Not as originally planned but now makes perfect sense.
Wacky posted on Saturday that a dummy sell order for 2.5m shares was readily quoted suggesting sizeable demand.
Maybe Lonny has his buy order in, as opposed to the usual inheritance, maybe A.N. Other.
Lots of maybes and couldbes, another 'final' top up beckons tomorrow.
I did expect that there would have been a firm date advised for the promised investor webcast within last weeks CPR RNS.
Could it be that Moroccan events/progress/discussions are actively in process, maybe near completion, and consequently webcast delayed until all arrangements firmed up?
PG's preferred route (reversal into larger entity) just maybe underway as we all ponder future valuations.
Exciting innit!
Sorry GRH, no interest in CEG's accounts, their expectations always were rich, their deliverance much less so.
Revisiting PRD's AR it details I-T consisting of 86 wells 11 of which are in the AT-4 block PRD initially applied CO2 EOR to.
OIIP remaining 66mmbo with gross contingent EOR oil resources estimated in the range of 5.3 - 8.9mmbo
Interesting net-back figures based on WTI $63.5 (!) quoted on AR page 19.