Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
* end Oct, not RNS??? Low
AC is in it for the long run. I do wonder if it would have been better to use contractor rigs instead of buying our own so early on and on a shoe string budget. Those wells could have been producing now and we could have raised cash at a better price then looked into purchasing a rig. BLOE have done that better and raises funds at a decent SP. anyway AC has cut things very tight as I think we are also contractually bound with the government to be producing around 400bpd by RNS Oct.
So yes not the best management choices imo.
Giving this more thought it does seem like worth a punt. Given the lack of drugs for lupus without nasty side effects I think the regulators will be on our side given the safety profile, even if it’s effective in a sub group of sufferers. Fingers crossed we get a supporter for a new p3 trial then things could be looking good and we might just have something. TM buying some shares would be a good start.
Perfect acquisition would be for BLOE to buy Zen.
Same strategy (brown field development) close proximity, same oil structures I believe. Both orgs no debt, massive potential here could be accelerated by bigger investment.
GL all holders
As a guess spud date won’t be for at least a few weeks to a month. Drill rig contract starts end Sept, they have the option to start earlier of course.
The flow rates update will be really important. Be great if they can run it at ~1,000 but let’s see if that is stable over time. Any thoughts on how long flow testing will take. I was thinking a couple of weeks?
Next drill16 should be an analogue to 16az but it would be foolish to take that as read. Of course there is risk, albeit less because it’s a historic producer.
SP could drift a bit but with all that’s going on ~12p looks like decent support. Of course it could go up too (12-13 looks like a short term range)
My concern is that 16az is going to flow at least 1,000bpd. Not that 700 is bad, just I think expectations are now set by PH at 1,000-1,400. I think 700 might disappoint Mr market. We shall see
GL all LTH
Great potential keep it real
The SP
Getting there, will not be long now. You know the Italians never do things too fast.
Might top up a tad more if under 3, otherwise hold.
Yes I think CIR will be fine. Half year results due Sept, FDA approval of airNOvent in Autumn. By then, hopefully, the shareholder register is settled and we are back up to around 30p.
Solid share mid-long term GL
Good that you are averaging down. I notice Woodford is pretty much out of Horizon. He still has 20% here so I will see if it goes any lower before adding more. Otherwise I’ll stick with what I have!
Good post and reflects my sentiments. Lots of negativity around AC which is undeserved.
It’s a punt but it’s a punt with very good odds. Drilling will start soon.
GL all
Just to clarify AC did not sell for personal gain. All the money raised went into the organisation and can be exercised at 7p.
Mr. Cattaneo used all the proceeds to exercise stock options to acquire 622,407 common shares of no-par value in the capital of the Company, (the "New Common Shares"), at an exercise price (the "Exercise Price") of CAD$0.12 (approximately £0.07) per New Share.
Agree, the delay has been unfortunate but it looks like drilling is about to start.
GL all
AC is heavily invested in the company and forgoes salary for shares. He has skin in the organisation as do we. Very positive imo, not like a lot of CEOs that don’t invest in shares at all.
I’m happy with the dips, only because I am buying. Got another lot this morning sub 3p. Will keep adding. AC is right 7p is a min. I guess the delays here have lowered interest but don’t worry, with positive news the buyers will be flocking in. We just got to be patient now and hope all goes ok. GL all
Even today at 250bod, we are producing 91,000b per annum. If we get cash of flow of let’s estimate $40 net per barrel at $65 Brent that’s $3.64m pa cash. At a 7-8 earnings our MCAP should be ~ $29m or £23.3m, an SP in the range of 6-8p.
Exactly this is an already existing historic brown field (purchased for peanuts when oil was at a low) , so the well deepening is to hit new zones as Resourcehunter suggests and hopefully ramp up the output. I think that it’s a no brainier, We are running at ~270bod now with an end year target 1,000bpd. Really is a cracking punt. Gl dyor
Definitely exciting, with deepening C30, C37 and new well Zen1 all in existing producing field (low risk) the upside could be way above the 1k bpd target. This is very much like BLOE in many ways. Very little debt, relatively low number of shares in circulation, CEO and directors holding 16% of the company. Definitely worth a punt at this crazy price. GL
yes I agree bandit, you never know quite what you are getting into with AIM stocks and it seems like a casino much of the time. I was a bit late in responding to the Woodford situation but would have sold out had I been a bit sharper.
Today Woodford holdings are shown to be around 19-20%, so this could go on for a while yet if selling continues. Hopefully this settles for a steady stable rise. Gl
That’s because he only talks about the unknown future in positive terms. Ignore the facts!
Despite this I brought a tiny amount today on the basis Lanstead might have held more detailed discussions.
We shall see but cold back to 15p quite easily imo
GL
Be good to see TM put his money where his mouth is and buy if the fundamentals are so good!
Hope this works but so much smoke and mirrors. GL
Cheers guys
Can’t find any updates on the rig progress in news or on website. Anyone know where to find it?
Should rename Zen as Delay (as Andrea put it in one of his presentations) great thing is he is got a lot of skin in this company and for me that’s a good signal he will want this to work. In today with a small buy but will add. GL all