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Never mind us PI shareholders. AK will come out of this all right in the end, with his multi-million $ bonuses and free shares. That's what really matters, for him, eh?
On behalf of the silent majority of PI investors in PRD, who read this bb, I thank you, @KeithOz, for all your input which is of the highest order of objectivity. Patience will reward us handsomely, imho.
I wasn't aware that this interview was going to take place, otherwise I woud have asked questions.
Anyway, it was a customary coherent and articulate explanation by MR of the Blencowe opportunity.
What was new to me was the first time mention of POSCO, as a possible offtaker. This would indeed be a major plus for Blencowe, giving added credibility and financial backing to the project. and away from Chinese sponsorship, which the DFC would clearly prefer. My only concern is that this could be a two-edged sword, if the bulk sample testing by POSCO fails to meet their internal specs. What then? Is there another non-Chinese credible graphite-using entity out there that might take Orom Cross material, as a back up to POSCO?
Anyway, that's an issue for mid-2024. We won't know much until around then. In the meantime, the DFC payment instalments and progress on the initial DFS should support the sp. An insititutional investor coming in for a size block of new equity at a premium to 5p would also boost sentiment.
So far, so very good, MR.
What a f...ing disaster this has turned out to be.
There were 256mn shares o/s AFTER the Jan 2021 placing of 17mn shares at 10.5p each, raising £1.75mn.
So I calculate the denominator for a TR1 calculation would have been 239mn.
25 trading days left to show meaningful results then.
Cbaron, we LTHs know the story inside out and don't need your condescending attitude for support. Go and mess up some other bb. You're not particularly welcome or needed here.
It's clear from your summary numbers that the early excess growth in production came from acquisitions, whilst organic growth, of 3%, is rather more challenging. The market has clearly given no kudos to i3e for the growth in 2P reserves, suggesting that this is not a price determining parameter currently.
I wonder how the market will react to another year of 3% or so production growth?
Madman-Rob,
I can't take it any longer.
Filtered, for being a boring, daily repetitive, verbose poster.
For Heaven's sake, man, just put a sock in it and comment AFTER news, not just write in generalities all the time.
There are others on the sidelines, silent, with just as large a stake as you, or greater.
@KeithOz has been quiet since the initial RNS on Tuesday.
Your thoughts please, Keith?
And after yesterday's jaw dropping RNS, I now understand why no institutional or trade investor has come on board with a TR1 holding, despite the geological promise of Guercif.
Trust, consistency, delivering on company-stated time lines all mean something in the world of fund management still.
Yep, to the naive wannabe believers in magic fairy tales, 100-200 bopd from Trinidad sure will steady the ship financially.
Please re-read today's RNS. It makes mention of a "potential" 6-9k bopd when a FDP is accepted. God only knows how many years in the future that large stream of income might flow, if it ever does.
Is this really what Morocco relies upon for its security?
MeM, well said.
We know that PG has a contemptuous attitude towards "flow testing", as he referenced in his infamous Sunday Roast interview, calling it for the retail investor base.
But it still didn't stop him using the need for testing as the basis for the last dilution and a £10mn raise.
Now that's been put on hold. Fine, but why not communicate earlier his real intended timeline?
Can someone please explain how PRD will extract top dollar from a Moroccan downstream industrial entity for a sizeable CNG operation, without knowing confirmed flow rates etc?
Trust is in short supply here now. Maybe the gas is still there in the ground....and maybe that $50bn of value, discussed openly all weekend, isn't.
This is without doubt the most shameful example of corporate intentional miscommunication that I have ever been involved with.
I'm not even sure that a crime has been committed under the Companies Act by these RNSs.
But you just know that GRH will put a rosy twist on this shocking RNS.
Not even one Twitter post from Blencowe in the last 6 days. Mike's keeping his thoughts close to his chest this time.
This whole thread has become very very silly.
Why not just wait a few weeks for the real numbers to come out of PRD, and then discuss the new reality?
Let's wait and see what Mike R reports back from his visit to DFC (and other places there, like AETC?).
This is the first time I can recall more than one poster contemporaneously de-ramping BRES.
Interesting.
Wow. That has to rank amongst the most informative RNSs I have ever seen from a micro-sized UK listed company.
So many throwaway lines, but they all add up to ringing a bell for the start of the next leg in this evolving graphite story. It boggles the mind that BRES is still valued at £10mn. The wider market is going to discover BRES over the next year and the true value of Orom Cross will become apparent. SPG grade material, equal to the best in the world, with superior environmental credentials, is the green light for a valuation sea-change, imho.
Well done Blencowe!