George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
My take on it is that it is not Heron but Red Deer the market is concerned about. Everything points to Heron being a good well but the money is waiting for Red Deer before getting involved and that has put a lack of confidence into the short term traders. Hence so many deramping now who are probably going to steam in once Red Deer is announced.
Agreed Ojay next year could be producing from XX on the one hand and drilling campaign with the forgotten Fox well plus another Raptor and more in the Red Deer area also. Plenty to look foreword to and I agree with Proslenes. The recent RNS was very positive in its content. A little silly to quibble about wording it’s the substance that matters.
Just speculation but I believe the fact that Velociraptor has been confirmed as the last well in the campaign bodes well for an agreement with Petro China. Possibly cash up front and joint development of Heron and Gazelle. I think we might have drilled a Heron 2 if this was not in mind.
Agree Captain it is about Red Deer but mostly I believe because people know with the lower COS means there could then be a drop. Ironically I think even if Red Deer is not a success the buying will then start in earnest towards testing and then Gazelle. Nothing wrong with today’s news just timing I think. However if Red Deer news is good then we are talking big numbers.
Could be nothing of course but PM just followed on Twitter someone who when you google it one thing that comes up is ‘Gladiolus’ as in the flower. But of course it could read ‘Glad Oil Us’ if you swap it about a bit.... GLA
MB meeting with Malcy today so expect a very upbeat message later. Perhaps today’s rise is in expectation of this short term, especially as we had sunk back to a tasty price again. I’m sure there will be people looking to flip just on that opportunity alone but any momentum is good momentum now as the news should stay positive for the rest of the summer hopefully.. GLA
I think MB quoted Heron as being worth £86m net to matd if successful. If you factor in improved sentiment on the other prospects and Heron’s overall area with additional wells the increase could be very healthy indeed on a strike.
Personally I hope they go for Velociraptor or Fox this time around. I know with a strike the temptation will be to concentrate on block xx but we will need to get a farm in for funds in order to prevent dilution and a big strike that opens up another block with the other prospect still in play would be mouth watering. Thoughts anyone?