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You'd like to think there is more to all this than just the president opening the mine?
Setup for the opening ceremony looks very impressive. had a my doubts a few weeks back as it looked like things had ground to a halt on site but looks like it was due to the second offtake agreement happening in background. This has huge potential now if lorries start leaving full of coal next week. .
It was explained previously that a hose failed which was the initial issue. Then the valve failed and then the BOP failed to cut the pipe and shut the well in. Cant remember if that was in an RNS or an interview but it has been communicated.
not really cleared anything up and very odd not to even mention the rumours or first sales.
it was always a question i had that if the offtaker wasnt ready for the coal or needing it we wouldnt see any revenue. continue to hold but complete **** show.
maybe a stupid question but how does carl benefit out of this if it is bull****? his salary cant be that much to retire off the back of this which he would need to now? some sort of dodgy deal with all the mining kit? not making much sense
So if coal had left the site would the company not have posted a video of it happening? Posted videos of everything else happening lately? Nothing about de-ramping. Im underwater with my shares so want to see the company fulfil its potential. Just finding it odd that nothing has happened to get the coal away in 2.5weeks since production started.
Odd its been over two weeks since washed coal production started and none has left the site yet? been tempted to buy more shares but still no sign of any coal leaving = $revenue.
So what does happen then welshy? They aint getting paid until the product leaves the site!!! Also from the post on 24th of May showing coal going through the plant the site hasnt changed a bit so there is no stockpile waiting to be trucked out.
Not physically but i know there isnt a pile of processed coal!
No signs of a big pile of washed coal waiting to leave the site yet!!
The share price drop was due to unkowns on liability and clean up costs and potential delays. Much clearer picture on all that today. Lets hope this gets a successful test in next 4 weeks. By my calcs if its a similar well to 12-1 at current gas prices its £100k a day
Cant see gas reinjection - why spend money on that infrastructure when you will have an export route available in 6 months. They would be better investing that money in another well/sorting out 16-2 and have two ready to tie in.
if you look at the RNSs going back there are multiple comparisons of 36-2 with the "nearby 28-11".
Another Quote below from RNS.
"§ The Federal 28-11 well, currently shut in, has near-term workover potential and is expected to have an initial estimated proved developed not producing ("PDNP") reserve value of US$0.4 million once the well's gas export is online."