Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Agree BlooBird, the statement also said
'Following withdrawal, the UK will remain an ATTRACTIVE destination for investment in the energy sector due to its FAVOURABLE environment''
Gov't really is sniffing LSD in copious amounts.
Almost all our politicians, of all parties, are absolute Morons !!
Thanks again PJ, very helpful and very positive for FID.
I also found this confirming PJ's post.
https://es.mercopress.com/2024/02/21/falklands-petrolera-navitas-organiza-los-obradores-de-operaciones-para-el-2025?fbclid=IwAR15wQhzAdRYYnIEB904lF7nCo3dtZSO9xb5Od2mzA9UzRZm27VKtaVGXzo
BlooBird
they also want some long term accommodation from Spring next year, or 'earlier' !
''25 units that accommodate a maximum of 60 people (a combination of homes with 2,3 or 4 bedrooms). For a duration of five years with options for another five.
Initial units should be available by the second quarter of 2025. Earlier deliveries are also accepted.''
Thanks for the post PeteJay74
It is all in a long line of positive actions from Navitas, who were originally interested in Sea Lion when POO was sub $60/bbl.
Now at $80/bbl, having acquired 65% from Harbour/PMO and having spent tens of $millions on the project, it all adds to what most know but cant yet accept, Sea Lion will get the go-a-head probably in the next 12 months.
11p, cheap as chips.
'Remaining a member would not support our transition to cleaner, CHEAPER energy.........'
Green FibDems Tories are just as deluded as Liebour.......We are lead by political m0rons !!
The last big trading day was back in August 2022, when 40million shares were traded.
Pretty much since then its been light volume.
The SP will move up I feel, slightly once FIG sloths wake up and sign off the OM deal.
Have a spurt once Navitas give visibility regarding FSPO, rig, support vessels and long lead items.
Spurt again on hearing Italian annulment has been rejected, meaning Rock will be well funded for phase one without dilution.
Decent jump on positive FID/funding news.
Go gang busters if an ii decides it wants a decent piece of the Rocky pie.
Until the above happen, then it's probably just going to be a glacial rise towards 15p.
Oh, and forgot to add the Mogger find saying
“We WILL start chartering vessels in Q4 2025,” said Mr Campbell (Navitas).
These WILL support a harsh-environment semi-submersible drilling rig,
which WILL be contracted to drill the development wells on this project.
SL is so going to happen !
Thanks BlueBird for the link and it for me, clarified what Navitas have done to reduce Capex costs by $100m despite inflation. Selecting an existing re-deployable, available FPSO and tailoring your FDP to fit, makes super sense.
For me at least, the evidence that SL will be developed is staring us in the face. Just looking at the last update RNS says it all I feel.
The Sea Lion Field Development Plan ~ has been optimised utilising the 'SELECTED' FPSO specifications
The hydrocarbons' WILL' be produced through the redeployed FPSO
The FPSO 'HAS' a disconnectable turret enabling redeployment to another NFB field
Navitas ~ 'IS' actively working with leading industry vendors to 'SECURE' all long lead equipment
“We WILL start chartering vessels.....''
Thanks as always Mogger !
Looking at the short term graph there seems to be a slight uptrend for the last two months where we've moved from knocking around the mid 10pence level, to the mid 11pence.
I hope and expect this slow drift up to continue as the months go on. Perhaps with some acceleration with notable events, FIG OM agreement sign off (why is this taking so long FIG???) debt finance, FSPO selection/MOU, additional farm out.
Just musing, but on the last point it is interesting that Rock recently reiterated they have no intention of reducing from their 35%, almost saying to Navitas if you farm out it's coming from your %, or a ploy to say you'll have to really make it worth while to sacrifice another 5%.
Hi LTT,
it's not a hard and fast plan, and not necessarily at exactly 20p, 30p, 40pence etc. However at 30p I would be selling 100% above average purchase price.
I also have a plan that if I sold say 50k at 30p, I would buy back 50k if it dropped back 5pence, which allows for a bit of trading whilst carrying out the grand plan.
I'm luckier than most I guess, as I have a break evens of 15pence with 518k.
Assuming SL gets developed, which looking at the hypothetical maths/facts of
2C resources of 312 MMbbls
POO $75/bbl, $25 /bbl lifting costs
312 x 50 - royalties and tax = $10.14B profit NET to JV from Sea Lion alone !
My plan will probably be to sell 50k every 10pence rise to eventually leave me with 250k free shares which will remain for hopefully significant future dividends.
Did they hit guidance at Kour last year? No, huge miss.
Did they hit guidance at Yani? Yes.
So it's debatable as to their ability to achieve guidance. I expect HUM to hit, or just fall short of low end guidance.
Thats certainly true for the vast majority. Doesn't change the factually incorrect statement below, although it probably feels like a one way spiral downwards.
Maths are easy enough to see assuming Hum achieve anywhere near guidance. Question for most is do Hum have the ability, and luck, to achieve it?? Many are rightly sceptical !
It was sub 7pence last October, how does it spiral neverendingly 'downward' to 9pence?
Asking for a friend.
Hi LTT, yes, I see what you mean and agree.
LLT, you wrote ' it is almost a certainty that the adhoc will rule in our favor~
With that in mind we should be €80m the richer by the end of the year, 15m by the end of June at the latest. The other €65m coming 6-9months after, maybe sooner'
If I may be so bold to correct this. I contacted Rock regarding payment timeframes, and the second tranche will be payable on just the arbitration win.
''Should we win annulment (Italy loses) then we will receive the additional 65 million euros basically immediately from the new funder, no need to wait for any recovery''
''the calibre of government ministers at present, embarrassing and shameful.'' --- I agree although
Labour, 'hold my coat'.
Anon, I'll stay on topic like yourself.
Since June 2016 and up until the end of the second quarter of 2022, OECD data shows that the cumulative growth rate of real GDP in Italy was 4%, in Germany was 5.5%, in the U.K. was 6.8% and in France was 7.6%.
Germany is virtually in recession.
Eurostat published the aggregated EU debt amounts to €16 Trillion.
EU's share of world trade is shrinking fast
It's parliament is almost 100% Caucasian------ all this is also down to Brexit obviously.
Oh, & Hum are yet again dancing on financial banana skins because of their inability to extract gold and their underestimation of the artisanal miners abilities, which so far has exceeded HUMs !! Hope that was on topic enough for you.
Nobleman, as long as we get the green light to $200m net profit a year, then I'm not too concerned if SM does nothing other than keep Rock financially safe whilst Navitas do the heavy lifting.
SM has a deal that derisks OM bringing in between $45 to $100m plus. He needs do no more than help Navitas, FIG and SL get over the line.