Member Info for Shedulike

It has to be MR. Rather raises a questions over PH comments on 8th June that civil works had started. I suppose surveying the site might have started, planning etc, things not visible from space.

Yep thanks bits - that's conclusive then it's back to WR-34, it will be interesting to see what they say about the decision when we get the spud RNS.

Thanks but those links don't work for me anymore. My point at 9:56 today was that as the CPR says KRT-45 didn't go into production so nothing has happened there since the 1990's. Whether there is still a compound area? But I can't see anything obvious.

This might answer my question "Hydrocarbons were discovered in the Middle Eocene of the WRK field by Well WR-16a in 1988. A further seven wells were drilled over the next four years with three wells put on production (Wells WR-16a, WR-38 and KRT-39)". So simply nothing to see at KRT-45 old or new. In any case looks like bitsas' theory is correct. Perhaps 45 is now viewed as a better target for booking reserves being a small step out from the others, PH did say the later PI wells would follow that strategy.

Ps. Sorry if this annoys the non-map nerds but has anyone got a definitive location for KRT-45? I see 39 is quite obvious and as Heps pointed out you can corroborate if from a JKT01Z video but going off the technical maps I can't see anything that looks like 45. Maybe it doesn't produce and there is no equipment there? Anyone know?

I pretty much half agree with you rlightor in so far as field performances can change and impact the priority of targets but I do think we should be kept up to speed on matters generally. If something they've RNS'd doesn't happen I want to know why. It felt like things changed during the drilling of WR-B01Za, things didn't go exactly to plan, the tweets stopped and initial well results were uncertain. I remember a few getting spooked out as we dropped below a penny and then low and behold it was a success. Perhaps the company noted the speculation that was created and have decided to go for minimum comms. That still leaves me wondering what the heck is going on with PII, though more pressingly we don't yet have a new PI well for it to run parallel to even if that is still the plan!

Haha Rocklawn I understand your irritation but I've always loved maps, travelled as a teenager around the world with paper versions and have been enjoying trying to unpick Block's movements in the here and now online. I think we all care mostly about seeing our investments grow but in the interim period please try and tolerate map nerds.

Thanks Hepseal - I got the coordinates from the Google Earth application but I put yours in Google Maps and we're looking at the same thing so all good. Nice to see some blue, I always said PH was a genius :)

On the other matter to natter about - Hepseal do you have the existing well at 413623.19 N, 445348.13 E to be KRT-45 or KRT-39?

I have tried various methods, even went to the Nomad and they gave me an email and I was quite optimistic for a bit.... until they didn't reply. Went back to the Nomad asking why wouldn't BLOE reply to straightforward, professionally expressed questions and they didn't reply again. Yes they could say I could have come to the AGM but that's expensive from where I live and as I'm self employed costs me a days work as well. I have never known a company large or small not have the courtesy to communicate with PI's. Even their phone number doesn't work. Real shame as I still believe there is a lot to like here.

CHRI5P I think the PEA will be impressive - so much achieved since EUZ's version in 2020. Hopefully the new numbers will give potential investors the metrics required to envisage what our % is likely to mean at each stage of the JV. That's what's important now, everyone must have their own opinions as to why we're down here, certainly it's been endlessly discussed over the years but for me and I would imagine for anyone else who thinks it's worth sticking it out it's time to look ahead.

Crikey I agree with Highside - I also find the negative posts loaded with subjectivity. Not surprising I suppose if you've finally capitalised losses to look at the situation emotionally rather than objectively. The fact is we have existing empirical technical reports that suggest that 49% of Toral will be worth multiples of the mcap on Option 1 with an enhanced PEA and similarly with 20% after Option 2 with a PFS. As ever I happily admit I have many gripes with the way this has played out, who wouldn't with the SP where it is but I do firmly believe looking objectively at the JV plan that there is a credible path to realising value in Toral. Given the disappointment we all feel I don't blame any ex investors for expressing their subjectively loaded opinions on here but you're not getting back at the management by doing that, a bit of catharsis perhaps? Understandable.

Thanks Bricks for your best wishes, and CJ for stepping up to corroborate my account of 'that' day the SP spiked. As CHRI5P alludes to it is way too simplistic to suggest that if you want to invest in Toral you need to be in Denarius purely because if all goes to plan they have 80% and we will have 20%. IMO it is a case of looking at mcaps and your own judgement of what 49% might be worth with a PEA and MLA, and what 20% might be worth with a ML and PFS. It's ridiculously simplistic to say Denarius are the better investment option because they potentially will have 80% of Toral. Denarius have huge spending commitments on their flagship license in southern Spain but also possible near term income in Columbia, it's a more complex equation. I've never pretended that I hadn't hoped for a better deal but I do recall dire predictions that we'd get washed up in insolvency and the licence get snapped up, but we achieved an orderly transaction that provides a pathway to a hugely enlarged resource, a PFS and a credible route to development, as ever I'm not happy about everything, not least MC pitching up at the Spanish office being worthy of celebration on Linkedin :)

Yiann as PH said himself in the interview he is a major shareholder so logically you'd think his interests lie (ahem) with ours, however I also have some unease over certain plans not coming to fruition. Just take the most recent example of PII seemingly being completely forgotten about. If you state it will run in parallel with PI and it doesn't happen shareholders deserve an explanation. The multiple front strategy is one the reasons I have stayed here and added so I'm livid that my enquiries have been ignored. Come to think of it there is growing uncertainty over what's happening with PI so there currently isn't even another project for PII to run in parallel with! Okay I'm joking to an extent but if the satellite experts are right then PH's statement on 8th June is looking increasingly dubious. I'm not making allegations as I just don't know for certain what's going on , I do remember when SOU used to webcam site preparations it took about a month from memory. Maybe we'll all get a surprise soon and find out they've spudded - last thought - just because a satellite image refreshes online every 3 days it doesn't mean it is refreshing with a live image just the latest image, do we know for sure that these images showing prepared but empty ground are 100% live or just the latest issued.

Thanks folks - if you're correct what can we conclude from PH's comments on the 8th June? Perhaps as a politician would put it a case of misspeak?

Just a thought, does anyone have a definitive location of KRT-45? If not I was wondering if the groundworks team might have finished their work there and then started the works located in Bitsa's image being the planned next well following KRT-45. If that is the case the rig might yet be in the assembly process at KRT-45. If anyone can prove that there have been no civil works at KRT-45 then my perhaps optimistic theory is already a dead duck.

Okay thanks bitas - noted.

On the civil works 'progress' I see folks have been studying satellite images. If I look up my house I can clearly see from the progress (or rather lack of.....) building work that the Google earth shots are well over a year old. Are the posters accessing a service that updates more regularly because if the images from Georgia are as old as mine here you'd be lucky to find a pad for JSR-01DEEP let alone KRT-45 ST.

More important is how we get back to trading around that level and above. For me the equation is pretty simple and assuming both options are executed the question is what will 20% of Toral be worth with a PFS. IMO you only have to look at the figures in our PEA then make a guesstimate about how enhanced they might be in the new PEA and ask yourself will it be multiples of the current map? I think so but Myles needs to do a much better job of communicating how and why. Detail of the enlarged mining area can't come soon enough also.

If you're talking about the rise post consolidation, I sold some at 25p and remember getting quotes to sell some more as it moved back towards 20p but decided against it (unfortunately). I know of another LTH who sold between 25p and 30p, I'll give them the choice of corroborating that without naming them, they post here but informed me away from the board. Anyway whether you sold then or waited for 3p in my experience there was plenty of Mm's willing to take them on that day.