Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Skippy, if thats what you think, then the spin worked.
Time will unravel it
Taxi
I will reword it as the meaning got lost somehow
Information and informed opinion is not your enemy, nor is it malicious intent
Mikee76
How much credibility does a company still have after the flow test RNS debacle
Fair point everyone should weigh the credibility of all the posters here, as I have always said, judge by the content, not the posters anonymous handle
Taxi
Information and informed opinion is not your enemy, or malicious intent
Consider what happens when investors trade on misinformation, such as the mega hype cycle of 2021
All the average investors get robbed, by a few sharks.
Think on what you and others might have done if FOMO created by misinformation had taken over, would you have averaged up like the agenda driven rampers were pushing
It may be better to sit here with less shares at a lower price, and weigh the options coldly
Poor and incomplete flow results, a company the polishes the turd to the extreme, with ~29b shares and a stated intent to consider a consolidation
IMO they will push hard for it, as it is illiquid on the ASX, where trade moves, at a SP of .003c for the average investor are
up 25% or down 33% to meet the market.
Handspringguy 00:03
I agree 88e are talking positive, as they always have, but on credibility
Who should you believe, the people that have been proven correct, and continued to stay on the facts, despite the abuse
Or
The people that printed fully funded, then raised capital at a 40% discount the next day, if memory serves correctly
Read very carefully
Commencing a formal farm-out process to attract a high-quality new partner to fund the next
stage of appraisal and development;
What does that mean, It means the next well is going to require a new partner, no new partner, no new well
88e are walking away from any more big spending on Phoenix, makes sense given the poor results, kick the can down the road, keep looking for a partner for a few years, keep hope alive
Optrade 10:12
I suspect you have mixed the distances up between Alkaid1 and 2
Hickory 1 is 9.3 miles from the closest PANR drilled well Talitha A, and at a guestimate from the maps around 16 miles from Alkaid 2
Sharebel
Now that is another bare faced lie, care to back it up with something other than your discredited opinion
They are the best protected of any, they have all of the inside knowledge and experience
Taxi
Sophs are a useful class of investor that can deliver a lightning fast result, within hours as just seen. 88e are able to capitalize on the immediate situation this way.
In theory SOPHs are able to look after themselves, and need less protection than retail, so can bypass much of the red tape a retail offer requires. Offers to SOPHS are very common in AUS, they often are happy to trade volume at a small margin, say the % between .003 and .004 that most of todays trades of 695m (ATM) have gone through at, as a VWAP of .00395 shows
Taxi
Rest assured the BOD of 88e would have been allowed to participate, they all chose not to
In evidence that this can be done, refer to the PANR capital raise that was similar in nature for the "initial" raise to institutions and others, note the quoted participation by all of the BOD
Do not be confused by the generous follow on offer to allow retail investors to also participate
https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/xelj2yr
"All of our Board, as well as management and key advisers will be participating in the Fundraise as we are all excited about what is planned and the great potential of what we have discovered over the recent years."
Gemstar
Have you had an epiphany , raising red flag warnings for 88e holders, a bit late with most of the damage already in play
Better a late conscience, than none at all
Neversatisfied, by all means put me in your green bin, look how well you have been served, by mistrusting the people that have offered objective analysis, so far.
Plenty of warnings on todays outcome were provided over an extended time, real analysis, as opposed to the hopium provided by most.
At a minimum you had food for thought, to then make your own decisions on, do you see the irony in dismissing the opinions that have been proven correct so far
Sharebel
You are a proven bad actor at this point, your credibility is zero
It is all the MMs fault, blah, blah, blah
The biggest takeaway from this debacle has been the companies behavior, not the rampers so much, rampers are a fact of life like pimples for teenagers, annoying ugly and festering, but a known that can be adjusted for and sanitized with a little fact checking
Companies are held to much higher account, and make no mistake the life blood of this company is its shareholders wallets.
In this regard the over spin on the flow test results is horrendous, the average reader read and understood the peaks of 50 bopd and 70 bopd as meaningful indicators of success, exactly as the writer intended, later the hidden truths in the fine print emerged, only 4 barrels from the SMDB and 24.8 from the USFS were produced
Further to this 88e have actively tweeted out promotional articles such as frontiersman, in which the 50 and 70 bopd is presented as produced, quote "In a second “flow test,” the well produced 50 barrels per day of high quality crude oil"
As we all know this is false, that test produced 4 barrels, 88e knew this when they tweeted out the link
Strategically it is a major blunder to be caught in the headlights like this, faith in the management teams integrity with communications is severely dented
Shareholders deserve to know the straight up facts of their investments, especially when being asked to fund yet again
Sharebel
You did not need to discredit yourself further
Investors only need view the term sheet to see exactly where the funds raised will be spent, it is not on buying Burgundy out
That is a fantasy tale from the rampers guidebook
It's going to need a big discount to the ASX VWAP of around .0045, probably 33% to attract some punters, as they will be gun shy after the last few cap raises that finished here, with losses for most, and the serious threat of a SP dropping consolidation in play
That would be a nice round number of .003 AU (.16gbx)
The answer should be on the LSE tonight, normally no trading halts on the AIM markets
It would be confusing if one believed the multiple ID rubbish, but there is only one
If you are interested in reading the article, they can usually be found with a google search
Has there ever been a doubt
Https://www.frontiersman.com/news/australian-company-reports-more-encouragement-in-north-slope-test-well-results/article_cd87e8a2-fb9c-11ee-ad18-3b7c74a9d176.html
What an appalling misrepresentation of the facts this is, no mention of the 50 and 70 being peaks in an unstable flow
A reader would be entirely convinced these were actual production, not blips on a chart
Disgraceful
"An Australia-based independent oil explorer, 88 Energy, reported additional encouraging results from an exploration well drilled last winter south of Prudhoe Bay. In a second “flow test,” the well produced 50 barrels per day of high quality crude oil measured at 39 degrees API gravity from the “SMD-B” reservoir, one of two oil-bearing sections being tested.
88 Energy’s new results were announced April 14.
Another reservoir section tested, “Upper SFS, flowed 70 barrels per day of high quality oil measured at 40 degrees API gravity, 88 Energy announced April 2."