The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Sorry Rock I did write something saying that the only 100% certainty is that we are indeed inevitably getting closer to news unless the clocks stop and the world stops turning but then I thought it might look sarcastic and I thought better of it. Now look what you've made me do :)
Good to see some new interest in Bloe. I've never hidden my frustration at the seemingly perpetual deferring of the 'multiple front' strategy but if this drill gives them the cashflow to finally launch it then all will be forgiven, possibly.
As a similar amount of time has elapsed as it took to drill JKT-01Z things should start to get interesting soon. WR-B01Za took a bit longer but could that have been because of the wellbore issues I'm guessing? So perhaps something on TD soon and a couple more weeks for preliminary results judging by past timescales on the PI programme.
Better from BLOE, as Guram says nothing is guaranteed in O&G drilling but going to plan. Exactly what PI's want from non regulated statements, clear and as informative as they can be without being price sensitive.
Good spot Piscator - I do find it amazing that a ministerial field tour hasn't been posted on our own social media. I realise the success of the actual drill is of more material importance but how long would it take to post this. They seem to have a near complete sense of torpor on the most basic comms. Do we actually pay that financial pr company or just stick it on the bottom of RNS's for appearances?
I've never been sure about that to be honest. In the last presentation it doesn't say that the MLA requires a PEA simply CAPEX and OPEX figures close to a PFS level of detail. In the last RNS it says that the only pending requirements before sending the MLA is the final environmental report so on the face of it the PEA isn't needed for the MLA it turns out.
CHRI5P I do think they will want the new PEA as soon as feasible on the basis of what has been achieved since 2020. Most notably for me - ore sorting proving that early years conc will now be economic which should bring down the payback point plus reducing plant size. Record grades of Zn in 2022 and now our highest silver. Completed metallurgy which wasn't in the 2020 version reducing economic risk. Completed hydrology, completed geotechnical surveys and now completed environmental reports. So the new PEA will be pretty shiny compared to 2020.
Just thought I'd post this as I missed it while skimming the last RNS. With reference to posts questioning requirements to lodge a MLA, "The Company's mining licence application process has been progressing well with 95% of the requisite reports completed and submitted to the Regional Mining Authority, with currently only one environmental report outstanding that is in the course of being finalised". I do think Bricks raised a reasonable topic of discussion with regards to bank guarantees but I certainly can't find anything to say you need this before a MLA. In a way it would be putting the cart in front of the horse, in that wouldn't an investment bank want to know you're permitted to mine it before committing funds rather than commit funds prior to a MLA?
I'm also eagerly anticipating the new PEA CHRI5P, when you think that the old one took no account for the fact that we have since proved that the upper siliceous levels can produce a high-grade concentrate as well as the deeper high grade zone. We have also had the record grades at TOD-042 in 2022 and now elevated silver. Certainly the numbers are going to be transformed.
Denarius have just raised another CA$20,000,000 to fund initial construction of their Zancudo Project in Colombia. I would have thought funding for at least Option 1 of Toral will have been set aside from their RI and placement earlier this year. Interestingly they mention that the Columbia mine should fund their "Larger polymetallic projects in Spain". They only have one other project in Spain so I think it's fair to assume that we're included in that strategy.
To be fair I don't think Chesh was suggesting that - just nice to get some colour from the site. Would like some more technical info but the policy on that seemed to change during the drilling of WR-B01Za. Hey ho, onwards and upwards or rather downwards.
At last he's taking cost cutting measures seriously :) Just looking at the Krtsanisi CPR and WR-34 had oil from 1500m. Is it realistic that we're in that zone already? If so a picture of the reservoir will be unfolding so perhaps some confidence reflected in today's Tweet, possibly....
Chesh you're right to say we've mitigated risk as we have a proven concept to extract hydrocarbons from the Krtsanisi Anticline which we're repeating on this well. This is obviously not a do or die situation as we have the stability of multiple production from other sources as we all know but it would certainly be a bump in the road for the current strategy if we did have an unexpected failure.
It would have been nice to have been kept up to date on the progress of the drill - casing points etc. Perhaps they will Tweet when they start the horizontal section? Certainly a lot at stake here, in the success case we could be on the brink of a massive inflexion point with BLOE. A non commercial well, while not a disaster, would likely see the accelerated work programme on multiple fronts remain a vague aspiration.
Roger who claims he couldn't sell his shares on the exact day they were never more in demand calls EUZ a sham.... Hmmm well I guess you missed the RNS last week detailing the highest levels of silver ever detected on the licence, did they make that up? I'd also be interested to know how Roger knows LR's exact frame of mind when he resigned - must be psychic I guess? What exactly is supposed to be misleading about my post yesterday I'd also like to know. I can hardly be pretending that something is just around the corner when the last RNS says "Detailed environmental work is nearing completion in connection with the Company's forthcoming mining licence application". Denarius released US$1.8m for the initial work programme to this end so nobody needs me to tell them that it's happening. I have never urged anyone to invest but I won't apologise for referring folk to the facts in the technical reports when resentful investors start posting rubbish I guess as a way of dealing with their own disappointments.
On a wet Saturday morning I was just pondering how the three year trailing averages in Denarius' PEA might compare with the values used in our Nov 2020 PEA. Zinc is quite tricky due to the huge spike in 2022 but it should be in the region of $2900/t compared to $2668/t in 2020. Around the current mark of $2150 compared to $2099/t for lead in 2020. No surprises that the big winner appears to be silver which averages approx $24/oz up from $16.5/oz. Coupled with what will be a big uptick in our indicated resource it's going to be fascinating reading when the new financial metrics come out. Obviously CAPEX requirements will be going up as well.
Ignore the second sentence of my 9:04, not happening. So with 051 nearing completion assays could be complete end of the month and an up to date JORC end of September / early Oct? Should make very interesting reading as will the PEA as the bigger numbers come in. Have we left Aquis btw?