focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Very bullish, so expecting a strong move up from here very shortly.
So roughly the same BOE as BOR. SOU haven't even proven it all up yet either. So SOU with a MCAP of £438m compared to BOR 270-350m barrels of high grade 46-49api condensate while BOR is trading at less than cash is ridiculous. Even if we farmed out at 50% we should be sitting way north of 50p a share.
Looks like someone bought it. 1 code.
I can tell you this isn't a pump and dump. It's savvy PIs positioning themselves for an oil price recovery. We know this is commercial at $40 and that the asset is currently valued at 0 compared to the MCAP. The oil industry is looking to reinvest to build up its long term reserves base. We as PIs are seeking out cash/asset rich oil firms who have weathered the storm and have no debt on their books. BOR ticks all the boxes.
All the ducks are lining up here. Rising POO. Development plan with uplift cost of $40 a barrel so with POO at $50 with initial plan of 270m barrels recoverable = $2.7bn. Planned production 56kbopd@$10a barrel=$560,000 a day. Assets (plant,equip, other stuff) net value of £246m. On net value against £16.7m MCAP (yesterday's close) BOR was 15x under value. At £2.7bn as of yesterday's MCAP BOR was 161X under value. Shares in issue 484m not in Public hands 14%. Cash £9.9m @0.82p/$ with ZERO DEBT. The high grade hydrocarbons recoverable at the moment are around 360m barrels. Correct me if I'm wrong. All this equals a big bagger. It certainly makes BOR a very attractive takeover target in a rising POO environment.
$40 a barrel. So good margin at current POO
Take over target
MCAP still just £1m
Is Blackham ramping up production targeting 200,000 oz au per annum.
Ticking up on low volume. Massive gold via Blackham resources ASX.
Vanadium is worth $6.50 a lbs and ironstone have 2.45 Bln lbs. don't forget that.
Polo stake in blackham is worth just over £10m. Blackham is set to double in value very shortly. So Polos stake will be worth over £20m. Their MCAP is £20m now so that would equate their other investments for free. Polo would be trading at cash value of just one investment if no increase in SP. Polo will therefore continue to rise for the foreseeable.
Polo stake in blackham is worth just over £10m. Blackham is set to double in value very shortly. So Polos stake will be worth over £20m. Their MCAP is £20m now so that would equate their other investments for free. Polo would be trading at cash value of just one investment if no increase in SP. Polo will therefore continue to rise for the foreseeable.
A good write up about Blackham from a few months ago. Polos holding is now worth over £10m. http://www.nextminingboom.com/blk-will-start-mining-gold-3-weeks/
100,000 share buy
Had to bring this down to get stock to fill orders. Still expect 20p close.
So to summarise. Poly growth dividend cover working capital, no dilution. Share buy back ongoing, thus increasing value. JV on the cards for existing gold asset. Also looking to diversify into new investment deal. News in the pipeline. Trading way below cash value.
A very tidy return