Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Phontist, it's not catch 22, you/we don't know what we don't know. I think most mostly likely we are waiting on FID of some form by the preferred bidder... but really I don't know because I don't know what I don't know.
Moneyhawk, I didnt say it wouldnt need more investment. And 4 to 5 yerars is in the future in my world. If WinX had proven up it could flow commercially, we'd have changed its value significantly, to the point where further investment could potentially have come from more traditional sources. Or WinX could have been sold off as a commercial proven opportunity, that would have been my preference to generate cashflow.
I think you are right on FO delay. Last reference to the FO if I remember correctly was "near term" not Q1. And with WinX meanwhile down the pan it will change the mindset of any potential FO negotiator.
I am also sitting waiting to take another 1m through this week sometime. Once we are on the rise, assuming we do of course, could one of our more learned or chartist posters please provide a nod on when the sp is showing signs of resistance?
RNS :
“ It is expected that, if contact with the reservoir is achieved, the salinity of the returned fluid will increase by an order of magnitude. This has not occurred to date. “
A question if I may please, for one of our learned posters …. should we have ‘connected’ to the reservoir at this stage of recovery? I had always assumed we needed to be iro of the 30% recovery before we would be at, or nearing connection. But above statement seems to suggest that perhaps we could have expected connection by now.
I’m feeling very disappointed to say the least this morning, I had thought getting the reservoir to flow would be the hard bit - given that the AL was billed as “highly likely” to lift the frac fluid I’m surprised that we’re at where we’re at this morning. Still, having not read the update until now, and with only a glimpse of comments on LSE over night, I thought I was going to be reading something significantly more 'final'. I will keep holding.
vikingraidertoo, can I ask a bit of simpleton's question .... so if FF is flowing unaided at a rate 160 barrels.... is it logical then to say that once FF is removed, that our hydrocarbons can potentially flow at a rate greater than 160 since the gas/oil will be lighter?