The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
flexmw, yes he was, it does appear that we are going to be later than I had hoped. However, I am going to take a positive from the fact that they have so far resolved all the problems that they have encountered. Personally I am taking it as a glass half full type of RNS although I am sure that some may take the opposite view. If so it will present a good buying opportunity as I am still confident of a positive outcome and therefore extra production by spring.
Stay safe
flexmw, I do recall a previous poster mentioning the possibility of delay problems. However, maybe naively, I am expecting the 70 day estimate to be reasonably reliable. After all, Awilco have a number of rigs in the North Sea and have gone thro' many winters. They will have come to that time frame in conjunction with SQZ, and remember that our chairman has approaching 50 years of experience in the NS along with our CEO who has also almost as many years of experience in oilies. I'm sure that if the estimate was way off and didn't have contingencies built in, they would have questioned it.
Hi Sage, unfortunately the gas will not travel to Rhum1 or2, they are too far away and the gas does not travel laterally. The rock that it's trapped in restricts travel sideways, it will travel vertically if there is pressure from below which is why often the drill in a well will travel horizontally close to the roof of the well to collect as much as possible.
I really do not understand the fears of a problem with Rhum3 re-entry. It was mid October when the RNS informed that Awilco were on site and commencing the preperation of Rhum3 for production. The estimated time for the operation was 70 days, so even if they are ahead of schedule we still have time to wait.
I am confident that both companies have the experience and knowledge to have overcome any problems that may have presented. It's not unique to have these problems.
Into the new year I am expecting that it should produce an extra 8,000 barrels equiv. per day to our income and at the same time reduce the all in cost of production.
Glass half full, stay safe.
Timber T, the MRE does seem to have drawn the vast majority of comments, from both the holders and the leaches who do their utmost to scare the unwary. The drill results (which have drawn less attention) were just as phenominal this time as previously, but what has pleased me is the amount of copper that has been confirmed in the initial estimate. At the moment the price of copper is rising faster than gold and with the ever increasing demand as the world embraces a greener future, I believe will continue to do so.
That's another reason why I will not be disheartened if Scally turns out to be predominantly copper with gold as it's bonus.
TMT, you are so obviously a man who has the inner decency that we all wish that we had. Unfortunately, when life hits you with something like this, it hurts every morsel feeling that you have. Don't ever change or harden in order to avoid that hurt that you're feeling now.
You do appear to have close family support around you but don't forget the support that lovely people like you attract from your more distant GGP family. The responses that have been posted on here already indicates that there are many more on here that feel for your loss. Only time will soften the hurt that you feel but your love will never disappear. Stay strong and safe.
Tig., I recall that post where you received 170 ticks. It was after you'd spoken with you friend and he informed you that heavy earth moving machinery was being prep'd to send up to Hav.. That was when we all realised that NC were already deciding to put the incline down or prep a road etc., and I don't think that we were even aware up till then that they had even submitted for permission to do so. There were the usual crew of knockers who were doubting that there was any truth in it.
We all now know that it was a brilliant clue for us all. Sincere thanks for keeping us all in the loop.
I do remember that his posts repeatedly encouraged us all to hold as one day this company's SP would reach 30p, and that was when he would look to take some profit. All whilst he was actively unloading.
His predicted 30p has now arrived and I would bet that he now wishes that he'd been true to what he typed.
Just goes to show that even though we have more than out share of genuinely knowledgeable and helpful posters on this site, it's always better to back up everything with your own research.
Many did suggest at the time that Beetham wasn't as true as the image that he presented, and incidentally we also had another poster at the time (DJRyan) who seems to have also disappeared into the ether.
Hi sasa, the higher share of the BKR deal doesn't come until 1st Jan. 2022, but hey, that's not too far off. By then we'll have the Rhum3 production and very likely Colombus by year end.
I feel confident of a successful intervention in Rhum3, SQZ did put an awful lot of work into studying that and contracted the best rig for the job.
TMT, it does appear that despite you having received the negative news, you are keeping positive. The fact that you've taken the time and effort to post on here shows that you are a fighter and whatever it is that you're facing, you'll do all in your power to overcome it. we all respect your posts and feel sure that we're all wishing you the best outcome.
NewKOTB,very well spotted.
I do however wonder just how many of his previous shareholders will trust him again after the way that he bailed out of RRR having told investors how he had their interests at heart.
As for him going for SQZ, I really don't see that. If he had wanted us he could have quietly built up a large shareholding before launching a bid for the remainder. That way he would have bought us out for considerably less than making a move later after an IPO. Also his attitude to running an oily is very different to the way that SQZ operates.
Worth watching though and seeing how soon the IPO is tabled for.
Keep safe
The BOD have always, in the over ten years that I have held SQZ, been both honest and very factual in any statements that they make.
They have told us that they are actively looking for producing assets and in the last results stated that they had made proposals on aquiring a number of operations, which hadn't been accepted. It has also been stated that any new aquisition(s) will increase output by 50%.
My translation of that is that they will not overpay for assets and are diligent in protecting OUR cash.
I would expect that right now they are actively looking at and negotiating aquisitions. The gamechanging BKR deal shows just how original thinking can build our company.
Considering that in 2015 you could buy these shares for less than 5p, a 2200% increase gives me sufficient confidence to await their next deal. Due diligence takes time for both parties, even without the hindrance of Covid.
Stay safe
Is it just me, or have I missed it?, but the morning after each of the previous Newcrest publication of Hav. drill results, Gervais has followed up the next day with an interview with his interpretation of them.
I hope that he has decided that this time he is holding back in order to combine an interview to include Scally results. If that is the case, then to my tiny mind, it could indicate that the Scally results are at least as impressive as those at Hav.
Maybe I'm dreaming but we should know soon.
Stay safe
A while ago someone suggested that Hav. could in time become as big as Kalgoorlie and we all laughed, well it's beginning to look as though it could become Kalgoorlie's BIG brother. They just keep finding the yellow stuff every time they drop a drill in, not suggesting that they don't plan where to drill but they could almost do it randomly and find gold, and more gold and even more gold.
This time next year Rodders, Oh never mind next year, in months Rodders we're all gonner be millionairs.
Good to see that Newcrest are prepping the camp to beready in time for the influx of workers when things really start gearing up. Also that they are looking to fit photovoltaic panels, that should help to keep production costs down.
Thankyou yet once again Paddy, maybe you'll be in next year's honours list, knighthood at least.