Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
so there is good probability we will have an initial 3d update before the flow results.... with AL taking until between 21st and 25th June, I cannot think we will have any flow results before 1st July.... could the ongoing flow test activity including the flow test, drawdown pressure and decline rate really all be established and reported upon in less than a week??? I have to qualify that I'm not saying that it can't be done in less than a week from any experienced point of view, but from a common sense viewpoint, nothing happens over night, everything takes a little, and with so much riding on the back of the flow results I imagine there will be an overwhelming desire to get it right. A confirmatory 3d update in June would be an ideal position for those wishing to de-risk and/or take some profit.
Garrym, can you give us your view on when to expect the flow test announcement pleas? Well opens on 11th, we have 10-14 days to lift the fluid, after which the flow test begins, including the drawdown pressure and decline rate to measure/interpret. How long for each/all elements of the flow test?
sharketmare, I was also caught last July. I naively had a stop loss set up, so all my shares were dumped, needless to say much lower than my stop loss figure. but I bought back in on some of the lows, and currently just a little short of evens.
Le Major, an excellent post and a pleasure to rear..... as with many posts over the last week. The only problem I have with all these magnificent posts is that it leaves me feeling like an old duffer that knows very little my comparison to some!!!
I have a question about when we are likely to hear results of the flow test.... we know the well will be opened on 11th June, that's now clear, and after opening.... " modelling of the reservoir pressure and fracture conductivity" is "estimated to take 10-14 days" but here's the uncertainty for me ....."The well will then continue to be flowed back to ascertain drawdown pressure and decline rate." How long will this last activity take... do we know... is it significant...will this last activity need to be complete before we see any results? Are we really only 28 trading days from results? Garrym, I am thinking this might be your kind of 'thing'?
Brombarb, thank you for usual additional bit of clarity to things. Been here now for c. 18 months, and through a bit of trading naivety suffered significant actual loss not just paper loss, but bought substantially back in. I am a believer, and another few weeks at this stage does not matter.
Constructionsmith, tying your reply in with Brombarb's of 12:18 Hrs, then I am thinking we will not have results until early July.... setup, inject Nitrogen, 2 wks to lift the water, then I assume we have to flow at whatever rate we flow for a minimum period of time be able to confidently say we have achieved a given rate..... a flow rate of 50 in 12 hours surely can't pass as 100 a day? How many days I wonder do we have to flow for to be able to announce a rate to the market?
thank you Jiddy. By all criteria then, results cannot be in first half of June. For curiosity if nothing else, I'd still be interested to know how long the recovery of the remaining frac fluid that has to be recovered is likely to take.