Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
A love it Charta! *****
5 stars Axelrod ! :-)
Mrs Cloke moving shares into the ISA . Wonder why..............................................................
And thats CLOSING ROSSO
For me the APPROVALS is the main thing
Yeah but completion different from approvals (gov consents )
no reason why approvals cannot come now
yeah ****ty. but patience will pay massively
Nice turn in Brent up to $77.50
Yeah definitely its overdue. Their confidence in its Q4 closing was a little misplaced!
Come on this is ridiculously low given we're churning $60m FCF
Everyone, Looking forward to :
1.Azule approvals (near term , possibly days / weeks - was supposed to be in Q4 along with Sonagol)
2. Azule completion and seeing the final net debt figure (should be extremely low)
3.. THE NEXT DEAL (McDade used to talk about patience but last few webcasts he's mentioned VALUE CREATION)
Market closed 12.30 today thats all.
But there is another deal coming, for sure
Yeah me too Joe. It would put the cat amongst the pigeons and suprise a few!
They have retained earnings on their balance sheet to do it
Good calcs Quiggers
Big mistake Quiggers. The Government take (within the contract fiscals) is variable
NAV is 80 pence though, would be nice to see some re-rate here over the holiday period
Would be nice to have both feet in the 34s at the close today
If they say $35 is break even then I'm assuming that that at that $71m revenue point, OPEX+FISCALS+CAPEX = REVENUE
Thats why i assume costs are $71 million at $35 Brent, because its Break even.
If i had full access to the cost account pools and Production Sharing contract, i could work up OPEX+FISCALS+CAPEX without that assumption
Where does your $50.4 come from Quiggers?
Not sure i understand. The costs shrink as the Brent price shrinks as the FISCALS (Government Take) shrinks
Not sure where you plucked the $50.5 out of
Lets take a figure within the range of the 18 to 20k bopd mentioned in the September webcast at $75.
18500 barrels x 365 x $75 = $506 million gross for the JV of which 30% ($152m would be Afentra's) at those levels.
At this level of production, it appears that OPEX + CAPEX + FISCALS (Gov Take) when taken off, leave Afentra with $50 million FCF.
If you change the oil price, the fiscals change also, the cost oil becomes a higher % and the government take is less.
But the $75 Brent level at least, OPEX+CAPEX+FISCALS (gov take) can be inferred to equal $102 m ($152m - $50m FCF) = $102m.
Every production level and even price, has its own cost level, the cost oil is a bigger % at lower oil prices and gov take (FISCALS) is less.
All we know is that the field breaks even at $35 so that means
$35 x 18,500 barrels per day x 365 days = $236m for the JV, and $71m for Afentra, meaning at that oil price level, the OPEX+CAPEX+FISCALS is only $71m
If they can re-invest and make a better return then its all compounding !