Member Info for Renndava

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.

My research.

A gas export pipeline might magically become available.

lol - my point is this isnt a wildcat well in a new frontier and that wasnt oil being flared when they were trying to get the well under control. But lets all hope its 100% OIL so we dont have to wait until October.

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."

Oakey if you look into historical Cane creek wells in the area around 36-2 they were a mix which is what I stated- not just condensate. Dont need to be a geologist to figure that one out you just need to do some research. Its just my prediction based on such research. Why do you think there is a gas processing plant a few kms away from it? Why did Colin say they had selected that location as it was a matter of metres away from one of the gathering pipelines for GAS....do i need to go on?

I think its going to be mostly Gas condensate with lower oil and natural gas levels. Either way Dominion will be good to go by October!!

There looks to be another massive coul mine in Hwange which isnt that far from ours. Not sure how much resource they have left though compared to our 1.3billion tons.
Another question i have is - we get paid for 10k tons a month from atoz and their responsibility to transport. What happens if they dont send the trucks in to collect it? do we still get paid?

What's holders thoughts on our share price/valuation compared to the likes of Benscreek? I see they are producing 40k tons a month and sitting at about £75m which has come off quite a lot from recent highs. I was of the feeling we were due a significant rerate until I started looking at them. Now back to confused.com !

Can you post a link?

Yep not been great. Now feeling conflicted as to whether it is worth buying more. Do believe there is plenty upside if he now sticks to timelines. Installing a washplant should be achievable in a few weeks so all depends on getting that surface miner delivered and ripping the ground up.

Correction - since last April.

Jay - i personally dont think they have stockpiled coal since January. I suspect they have a small amount dug out but dont think there would have been any point in burning cash piling it up until they had the wash plant etc confirmed onsite.