Member Info for redeyemines

Answering your own question here KB-----you and all the other PI's out of cash
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---"If this find is as good as we all hope it is (myself included) why isn't the shares being hoovered up at these prices? After all they were more than happy to come in at 18p

No more funds for me to top up but i'm already in as deep as Bo Jo was into his party's during lockdown :-(

Morning Kingbilly------ let me say, right from the start here, that I am % positive on Char and its gas prospect.
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-Lots of people got carried away with the numbers and chased the SP up until it was way ahead of where it should have been----------(always happens on a "find")
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-Institutions had three large placings to digest, and are content with their positions at this stage.---They do not feel the need to "top up" unless there are major developments---indeed they may well have top sliced some profit to off set loses elsewhere.
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-So it's all down to PI's to hold the fort and support the SP, ----which of course they cannot always do .----PI funds get exhausted, and the "top ups" stop, and then life takes over and the money tied up in shares, is needed elsewhere-----nothing against Char, just life.
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-Buy/hold on the dips.

First production ---24/5 (----"if everything works out perfectly"---) ----which could still mean 25/6---we just don't know at this stage.
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---2 maybe 3 years to first production, so in the meantime the SP will be led by the Mkt.

The ABC of the shorting world, ( you know who they are), went out on a limb yesterday, and sprayed stock all over the mkt, Convinced that they had scared all the buyers away, and that the equity mkt would destroy the sle sp.
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.. How wrong they are.

... FTSE down 2% and all we see in sle, is buying.
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With everything coming to a head soon, these shorters have given genuine LT sh a golden chance to pick up some cheap shares..
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.take no notice of all this made up scare mungering, its only done to try and help their short position.... Just a storm in a teacup..
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. So please ABC, keep it up, and thank you.

Shorters had their fun today... Bottomed out now... Time to buy

Looking at Bangla now, it's beginning to look hard to see where Phulbari fits in anymore.
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-With generating capacity of over 26,000 MW (and 1460 mw still to come from the Godda Adani plant) demand/production is only about 12,000 MW so they clearly do not need any more power plants at this stage.
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-All the current coal fired plants are being supplied from "imported" coal, and are situated on the coasts, ready to receive these imports, and a long hard journey from Phulbari.---
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-Domestic power prices have been raised, and now cover the end price of, dearer, import led production, so that, at this stage, with the now lower coal price, those plants are just about viable and can continue.
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-Of course Phulbari could supply a guaranteed product at a fixed lower price, which should be a massive win for Bangla, ----but can Bangla do without it ?---the answer looks like yes.
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-For whatever reason Bangla has gone down the Import route, and has based it's entire plan (except Barakap) on importing both fuel and power. These imports are coming at a vast expense, and Bangla are just raising domestic prices to cover the costs.-------a dreadful outcome for the population, but that is the reality in Bangla today.
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-So where does that leave the coal deposit at Phulbari----can it be ignored and "left for a future generation"---certainly that (for whatever reason) is what Hasina wants.
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-A golden opportunity has been squandered, and what should have been a win, win, win for Bangla, is now rapidly becoming an irrelevance.
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-Maybe we have finally reached the stage of having to choose between our last remaining two options.
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-----Sell the lease and walk away.
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-----Or go to court and fight for our lives and past expenses.
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-Maybe our next fund raise will have to be for a War Chest fighting fund.

https://www.thedailystar.net/news/bangladesh/politics/news/bnp-hold-rallies-all-cities-march-18-3268756?amp=

https://m.economictimes.com/news/international/world-news/bangladesh-shuts-down-main-opposition-newspaper/amp_articleshow/98086701.cms

For the last two years the Nembe Creek Trunk Line has be beset by problems and theft.
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-----This pipeline is partially owned by --NNPC-------
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-Eroton lost 500,000 barrels of oil in one month, due to theft from this pipeline.
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---Consequently, and in -"AGREEMENT"- with the JV partners, Eroton shut in the Wells.”
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------NNPC's pipe was the problem and NNPC/Sahara agreed to stop production.
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-So the only argument left, is how much is outstanding from Notore, and not distributed to the stake holders---(-bet it's peanuts )

Just watched Shk Hasina on Aljazeera... She just talked straight over the interviewer non stop... Waffled absolute carp.... God knows how her parliament work with her.... Still she promised a free and fair election... Yeh right.

Callas, you have been talking about the monies owed to Eroton from Notore for quite a while now.-----and as you have obviously been keeping tabs on this, how much money do you think is outstanding ?.--As far as I can see, it doesn't add up to more than a few $mill, probably less than $10 mill.
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---On the other slide of this coin, we have the notoriously late payer NNPC, who at times, have owed 100's of $mills----so
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----------At this time, how much does NNPC owe to Eroton ?
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---Also with the lack of production , I would guess that Sahara have not kept up with their Cash Calls----so
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-----------At this time, how much does Sahara owe to Eroton ?
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----My guess is that the debt owed to Eroton, by these two, greatly exceeds the amount outstanding from Notore, and you have to question how they can cite this debt as a reason for trying to displace the Operator, when they themselves owe many times that amount.--This whole episode sounds like an attempted "land grab" just as all the hard work has been done and production (via the Eli/Acos ), is about to rocket.--Despite what has been printed in the local press, this whole action surely has no merit at all, and must be thrown out.

I'm afraid, that looking back in hindsight, i cannot argue with you there Phulb.-----They have wriggled and turned and used every excuse in the book, to not use this coal.
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-The whole population has missed out on an enormous natural resource, that would have provided secured power and made a huge cut in the import bill.
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-BILLIONS LOST for the nation------SO WHO HAS PROFITED ?????

Please don't try and side-track people, by muddying the waters.
---I think you are BOTH fully aware that I meant Eroton not Sle---.
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--All in all, this looks like another baseless "storm in a teacup", brought about by two stake holders that cannot afford to pay their cash calls . (another re-run of Sun Trust), and no doubt it will be thrown out of court very swiftly.

---So having had a bit of time to go over this, it looks like NNPC/SAHARA (60% holders) are quoting "Wilful Misconduct" in their action.
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---I'm not too sure that they have followed the correct procedure in bringing this action, in which case it will just fail-------so lets see what they have done and why.
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---Basically they are saying that Eroton's "WM" has resulted in a lack of production, and no doubt they will use this argument to justify why both NNPC and SAHARA have not been paying their % cash calls to Eroton-----(this must be quite a substantial amount by now $50--$100 mill).
-What they have failed to mention, is that, it is an industry wide problem for all fields that would have been using the Nembe Creek Trunk Line in the last two years and not to production issues suffered by Eroton.
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-I think there is a set appeals procedure for this type of action, and i'm sure SLE will have started the ball rolling. ----28 days is standard for an appeal, and SLE must be well within that time line. ---Also, in any Wilful Misconduct action, the company has a standard period to, correct, or make steps to start to correct, any perceived problem------(i thought it was also 28 days, but I could be wrong)----and making any sort of progress with ELI/ACOS within that time frame, will nullify this WM action.
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-All in all, this looks like another baseless "storm in a teacup", brought about by two stake holders that cannot afford to pay their cash calls . (another re-run of Sun Trust), and no doubt it will be thrown out of court very swiftly.

---350 seems to be a support level, with a fare few sales being absorbed over the last days.
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-Interesting 2 x400/- today at 350----is that a rollover, or an order that was being worked.
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-lets see next week

Lets hope so Lucky.-----Guess it will come out in the IEPMP later this month.
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-I really don't know how he has the nerve to put his head up.---If it was not for him, Phulbari would be a producing mine by now, and Bangla probably wouldn't have built the the plants at Rampal and Payra, which both need imported coal, and they certainly wouldn't have got entangled in the spiders web of GODDA.
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-Telling lies and exaggerating numbers will not get him out of the mess he has helped to create.

---dont know why my post should have been removed---I just asked a question which you answered.
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-On Sunday you wrote--"hopein my shortin order will execute automatic on munday mornin. so sorry for holders who lisuned to samalaric rampur team"
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-So I just asked you what price you shorted at.----fair question.

--bombarding the BB again from all angles---the same three.
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-This after Afamefuna posted that had had closed his original "short" (at a loss?), and had now opened up a new one.
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-Your words Afam---no excuse to get this removed.

Yes Tiggy---scandalous--is the only way to describe this deal.
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-A great in-depth look at the whole deal and how everything has been geared and laws changed to suit and profit Adani.
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-Whoever signed this deal on behalf of Bangla needs to be arrested, --- the excuse of-- "being rushed into signing"---is enough to condemn them for incompetence at the very, very least.
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-And now we have Anu Muhammad daring to chip in and denounce Bangla's handling of the whole affair, as if he was some hero.
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-Lets not forget for one moment that it was him--ANU MUHAMMAD -and his rent a mob, that organised the riots and protests back in 2006, that has stopped Bangladesh from using it's own coal, and building it's own Power Plants at Phulbari, and then none of this would have happened at all.
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-Bangla now tied hands and feet to a deal that will bankrupt the country.
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-In the name of National Security they must reneign on this deal.

----Well done Sam, glad to see someone is awake.
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-------"how does this guy not realise that if no deal goes ahead sle can claim their 100m or eroton lose oml18 to sle ,lock stock and of course oil barrels"