Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
He is cheesed off and rightly so because he is a long term holder who supported this company to get it to this drill in the first place who has been shafted and manipulated by the company's rns..Not a bottom feeding ramp loving short term trader like yourself Degsy,..My only solace right now is that this time next week we wont have to read your drivel anymore because you will have moved on...
I am equally as furious at how lt shareholders have been shafted here..Today this board will be full of ramping by those and theres a lot of them who bought in Friday at 1.4-1.7
But for those of us who have been in here a while,it stinks..People can shout all day long that you cant buy under 3p but that that's still a 30% discount prior to results..On what they are now intimating is a positive drill..They have manipulated the market with that stinker on Friday
At the end of the day it's easy to say Agenda..I've had more dusters with this stock than I care to remember and I'm a fortune down from my initial investment from Puntland many moons ago..However I'm a realist and I own stocks in many oil and gas explorers and producers..So I know how drills work..And when you get a statement like this..
The Winx-1 exploration well intersected a zone of interest in the Nanushuk Formation between 4,460' and 4,530' on the 28th February 2019. Weak to moderate oil shows were recorded, including fluorescence and crush/cut fluorescence, whilst drilling through this zone; however, initial petrophysical analysis indicates potentially high water saturation. Additional analysis is ongoing and will be reported once available. The Seabee turbidite target at ~4,272' exhibited no evidence of hydrocarbon saturation.
Sometimes you just don't need to know figures..Weak oil shows in hight water saturation tells everybody who has the slightest idea of what they are talking about all they need to know...
I know mate but it winds me off the clock..Oil and gas exploration is a complicated business and those who know and have experience of it are fully aware of what that initial rns means..But along come a few traders who try and convince people that it's actually good news in the hope they can get the price up a bit so they can waltz off at others expense..
I'm not ssaying this is a duster as until the drill comes out of the ground but to try and tell people that the rns was really good news is just lies and he just be ashamed of himself...
Simple question for you?? Lets take it that nothing is found in the rest of the drill..Do you believe that on the basis of that rns this morning that they will take the chance and raise the money to prove that result up on low range commercial and make it a producer or plug and abandon..????
cos must have increased??? There are simply no words for that ramping drivel..
The rns of any company has to be approved by the company's nomad..It's there job to make sure that all market information is released based solely on the information the company have..
This isn't RMP's first rodeo when it comes to releasing poor drilling rns,i've suffered a few so they knew how the market would take it but couldn't get anything other past the nomad based on the results..
Of course they have a bit more freedom on Twitter but I always take the rns simply because it's the only part that's regulated..
it's pointless Spike..People just want to take the best case scenario and I know how that feels..He pushes the boundary's of the rns because he wants a swing trade...But I challenge anybody here who has a wealth of experience in the process of oil exploration from the 2d 3d geology,spud,drillinjg,wire logging,testing and proving up who believes that on that result alone they will go for proving that formation up...I doubt anybody can.!!!
The rest is still in play but that part is over...
I agree that Nanshuk 4 and Torok to a lesser extent are the main plays and still very much in play, but anybody who knows the slightest thing about how these things works knows that Nanushuk5 will never proceed beyond this point on low end commercial,theres far to much expence against risk to prove it up to be a producer..
Oh come on Degsy,dont be a idiot..You've appeared bought for a quick turnround 10% and are trying to ramp commercial oil when reality is it's probably never likely to see light of day on that partial result...
Lets be realistic guys..Lower end of commercial means it never will be,if its right down there at those levels now they wont go for the cost of testing flow rates etc etc etc..For those of us who trade oil explorers regulary,how many times have we seen a rns like that and then compare it to how many times it ends up producing...errr none..
The good news is although they haven't hit the sweet spot on the upper targets,what they have done is proved up the geology as oil is there and it's still all to play for going forward..
The reality as far as I'm concerned and trying to stay balanced both ways,is that the drill is still live,weve still got a chance of hitting oil,it's just the overall chance of success with this drill is lower than it was when it started..
i've had these tucked away since the Puntland days when we drilled dust,and have written them off a number of times but you live in hope
The Traders saying that are hoping for just that..They post that with one finger and have the other on the sell button..it's disappointing news and can be read both positively and negatively...So just a straight hold for me..
They just don't want to create a market...They just wont sell you anything without multiple attempts,all you get is NT but like has been said they will take them off you easy enough..You would have thought they would start to let it go by now at these levels..Are they patiently sat trying to fill a big set price order??? Or are they loading themselves up before next week.??
lets be honest,there are a lot of traders on this right now and 30-45 days is about 15 trades away for them..I'm sitting tight,yes he didn't come across that well and there was only so much he can say at this stage,but what he did has given me confidence to sit tight and let this play out now...
that call,on the whole positive for me..
I'm all for positivety but lets not tell people things that are simply not true.....To many factors in play here right now for it to be trading on charts or fundamentals..It's a swing trade today..