Member Info for smkr

If they swing back to original offtake finance with LB group, and expand the resource. Happy days. This guy has the credentials to do it

Iluka Resources huge in mineral sands .. 2.2bn cap

Nice. He said bring in the right staff. Sounds perfect

11 min 40.. only costing 200 thousand dollars to further explore / expand resource. happy with that

3:30 mins.. $2.8m Usd in the bank

“I think the only way I'd reenter”

So you finally bailed for a huge loss then Paul lol

you ain’t held this all along bud

Buys keep having this under 180 ..

It was dipping and as we know illiquid.. but I think Cantor Fitzgerald shifted something around in among all that commotion. Probably hasn’t helped while it dipped

Aeschylus

“We just need the start date! Will it be this year?”

From Zeus research this week.

The field is now moving to development, with plans to bring the existing Heron-1 well onstream and drill the Heron-2 development well in H2 2024.

H2 starts Monday.

“The project is debt free with an estimated resource of 73.7Mt @ 95.3% CaCO3 and an estimated limestone stockpile of 190,000 tonnes, which will be used to start production.”

When limestone (calcium carbonate) (CaCO3) is heated Carbon dioxide (CO2) is driven off leaving calcium oxide (CaO) which is also known as quicklime.

Depending on global location Quicklime prices per tonne range from $150 to $300.

Let’s say at bottom of this range, they’re sat on over $25 million of stockpile to get started.

Could get tasty here. Their twitter is already showing videos of the crusher in action, and kiln to heat the CaCO3 is fully permitted.

Might be a very different price by end of this year.

Griffin clearly got ahead of himself. Helped negotiate in the first LB talks, and then brought himself and Sheffield into equation when they weren’t ready. It’s reassuring, however, that they were prepaid to pay 3.65p for their stake, even before any deal for production was concluded. The value is still there, it ain’t been washed away into the sea..

MATD have never been closer to generating cash flow and getting heron pumping. This is going to production now and multi bagging imo

Complete mess mate. I suppose how silent they’ve been was a clue with hindsight. Even the Rns about tete extension was about a week or longer after the SEC document was published. I bailed the last bit of mine today, maybe it will come back after suspension.. maybe it won’t. I don’t fancy the gamble.

1396217 trade.

Cantor Fitzgerald last tr1 ended in 6217

Not exactly going to plan is it. What a show

Looks like a big holder threw the towel in. This is what’s dropped it to here. Opportunity for some, lucky beggars 🤣

Well if Sheffield were to bid, I think they’d have to offer minimum they’d paid for shares in last 12 month. Doubt they will though, sounds like they couldn’t just now anyway

Buyers still going at it

I’m guessing this is Ando bailing out

Equity raise for Block XX drilling

Petro Matad has raised US$8.9m through an issue of 350m shares at 2.0p. The company is currently preparing to bring onstream the existing Heron-1 well on its field in Mongolia, and the raise is planned to fund the subsequent drilling of the Heron-2 development well. The raise is also planned to fund drilling of the high impact Gobi Bear-1 exploration well, on the same Block XX as Heron. All this activity is expected in 2024.

Heron is a significant asset now moving to development. Petro Matad discovered its Heron field in 2019 (Petro Matad 100% ), which is expected to contain 33-60mmbbl of recoverable oil. The field is now moving to development, with plans to bring the existing Heron-1 well onstream and drill the Heron-2 development well in H2 2024. Each well is expected to have initial production of around 300bbl/d, and the 2024 programme will establish first revenues for the company.

Heron land access clearances achieved for initial programme. Petro Matad recently secured the important land access clearances for Heron-1, several additional Heron development wells, and the Gobi Bear-1 exploration well. The company is also making progress towards getting full, permanent land access clearances for the entire Block XX.

Heron services and offtake being secured. Petro Matad has already secured the kit required for Heron-1 production and is in final contract negotiations for a rig for Heron development drilling. The company is also progressing discussions for Heron oil processing and offtake with local operator Petro China, with the support of the Mongolian government.

Initial Heron production data to underpin ongoing development. Production data from Heron-1 and Heron-2 should help Petro Matad further refine its interpretation and well design for the field, targeting higher recovery. We then expect further Heron development drilling from 2025 onwards.

Higher Heron potential on improved recovery. While the existing base case recovery expectation for the Heron field is 33mmbbl, Petro Matad believes updated interpretation of existing data, alongside the application of modern drilling/completion techniques, could drive improved recovery of 60mmbbl. This provides significant upside potential, with the initial Heron production data potentially helping to confirm higher recovery expectations.

Gobi Bear-1 exploration well provides large upside catalyst. In addition to the 2024 Heron programme, Petro Matad is also planning the high impact Gobi Bear-1 exploration well (Petro Matad 100%). This is interpreted to contain mean oil in place of 307mmbbl, implying a 55- 92mmbbl recoverable number. Geological chance of success for the well is 15%, and on success the proximity to Heron could significantly assist further drilling and development.