Member Info for SpaceHoppa

Ashanti will know more than any private investor, and are confident enough to invest.
That in itself is not a guarantee Pure will deliver on their potential,
however it is a strong indication that Ashanti at least, believe new management can and will deliver.
They are certainly big enough to snap up Pure at any time they want, and odds are they will do.

It is interesting that Pure Twitter, would tweet this from Conor O'Brien, Portfolio manager at Sprott Mining

https://twitter.com/PureGoldRedLake/status/1501638615406837762

He think if Pure turn the company around, which I think is already happening,
then Ashanti will ''take out'' Pure Gold.
Are Pure promoting this idea just to help get the price up,
or making us aware Pure might actually get taken out at a premium to todays SP??

I wish people would just put the deramping attention seekers on filter!!

All I see is pointless bickering and a repeat of their deramping Subject headlines.

The problem with renewables, is that they too can go from hero to zero depending on the weather.
Some days UK can be over 85% renewables, other days less than 15%
Europe are nowhere near UK in terms of renewables, and wont be for a great many years.
So we will all need gas and oil for decades, and even more so if Russia is frozen out of the equation for the medium term.

Sea Lion is ready to go for a company like Navitas that can see the raw profits of the project.
They are getting it for peanuts as well if you consider
250mbbls x ($80/b - $35/b) $55 = $13billion gross profit

Throw in the other oil and gas fields and it should be a no brainer. Navitas and Rock will agree a deal and I can still see Harbour keeping a non operator interest, although I understand other posters believe otherwise.

OM award delay is still puzzlingly annoying. I know some say no chance of an OOC settlement, however the more this goes on and it is already
7 months since work was meant to be completed, and
8 weeks since the last lawyer invoices were submitted,
then I still believe horse trading is going on.

No surprise given mad dog Putin's actions, but goes to show oil and gas are valuable commodities that any sensible government need to secure for it's nation.
UK fortunately can do that, given a common sense approach, which I am not sure Boris has yet with Green eyed Carrie whispering nutty NetZero nonsense.

Navitas though will understand the massive profit, and sense of developing SL. It's just a matter of time I feel before we hear of the actual farm out terms.

Speculation.
Harbour 's website says
---we respect the fact that the claim belongs to the claimant, and not to Harbour. The claimant, with their legal team’s advice, makes ALL the key decisions, including whether to settle the claim, and how much for.

From the article highlighted by Ephemeral it says
One of the lawyers representing the Italian government— said ''a defeat would be extremely serious”, as it would give other companies “the desire to emulate Rockhopper”.

Most here believe Rock have won the case.
Most here believe there can be no fathomable reason for the delay in the award.

''a defeat would be “extremely serious” (for Italy)

I believe that although Rock want the settlement cash, they aren't yet that desperate for the cash, and that Italy, Harbour and Rock are negotiating an OOC. I don't believe that even ICSID are that slow at adding up two extra lawyer costs, so that is my personal explanation for the delay, which may of course be wide of the mark.

this may work
www .proactiveinvestors.co.uk/companies/news/974617/rockhopper-exploration-rwe-sue-european-governments-for-damages-over-fossil-fuel-projects-report-974617.html

One of the lawyers representing the Italian government in the case brought by Rockhopper — after the state’s refusal to permit the development of the Ombrina Mare oilfield in the Adriatic Sea — said a defeat would be “extremely serious”, as it would give other companies “the desire to emulate Rockhopper”.

ECT cases are often shrouded in secrecy, with documents rarely made public, and the cost of bringing or defending a case related to the treaty can run into the millions, the FT said.

A 2021 report by the International Institute for Sustainable Development found that “the majority of known fossil fuel [investor-state dispute] cases are decided in favour of investors”.

Talks are currently under way to update the ECT. The European Commission has submitted a proposal to phase out protections for fossil fuel, but this has been rejected by other signatory countries.

The management team/ greedy piglets sold a lot of shares on the way down from £1.50's and they knew the mine was not functioning well, and yet were too incapable and experienced to significantly rectify the production issues.

We have a recently a new CEO and directors have en masse just bought $1million in shares!

This is more than tokenism and provisionally another sign the new management team is serious about turning Pure around, and I suspect the CEO has strongly ''Recommended'' fellow directors to show faith and have more skin in the game.

I like this new CEO. He's the right guy at the right time and 47p is now being paid.
We still need to see the Q1 figures to gauge progress, however this is 'feeling' much better than 2021.

WRT rule of international law.
Makes a reference on ECT as well.

www.briefingsforbritain.co.uk/the-eus-attack-on-investment-arbitration-and-its-significance-for-the-uk/

And a nice spike up into the close.
If new management do what they can do, then this is still cheap.

''It takes at least 3 years for an oil company to change its mind''

Perhaps Mirasol, but looking at HBR RNS is says 'options' as below.

'While the Sea Lion discovery has significant resource potential, **development** of the project is not deemed a strategic fit for Harbour. Therefore the Group has decided to **explore the options to exit** the project and its other license interests in the Falkland Islands.

It just seems strange to say 'explore the options ' to exit.
However I agree Exit implies no involvement, but perhaps it's exit being operator, and an 'option' may be to hand over operatorship but keep a 10% non operator stake??

Rhys91, I do no think many oil professionals factored in what Russia is doing, and that they are now seen as extremely unreliable oil and gas suppliers to the west.
Surfit, I did the same, selling 50,000 shares in Rock to buy into HBR and spread a bit of the risk. I sold out of HBR once they ditched SL.

Hopefully all will be revealed soon, one way or the other.

Like everyone else Surfit, I am just speculating. However people make decisions then later change their minds, as do governments and companies.
I do not agree that HBR deciding to keep a minority stake in SL would look unprofessional as they can bat that away with the obvious excuse that circumstances, ie price of oil and gas has changed significantly with Russian aggressive threats. It's worth a thought I feel.

As I said,
''It's just speculation'' and
''no notification HBR are out yet'' and
'' back when they were making their decision oil was low $70/bbl, now it is nudging $95''

I understand people saying HBR wont change their mind over Sea Lion, they may be right. However I am not so sure.

HBR evidently did not fancy being 40% operator of SL.
It was not their thing and they may have doubted their abilities.
But back when they were making their decision oil was low $70/bbl, now it is nudging $95.
Navitas have been very keen for a long while, and are both capable of developing and financially adept.
I can see a deal whereby HBR keep a small toe in, 10%, maybe 15%.

There has been no notification HBR are out yet, and a 3 way deal takes some pressure off Navitas.
It's just speculation, and Navitas may want all their 65%. I just feel HBR are having second thoughts.

CAN $0.68 is 39pence.
It would be good for this jump to be more based on improvements at the mine,
which I feel is coming, as opposed to a Russian inspired spike on gold.

$94 as I type and gold up $30/oz. Russian aggression clearly the factor.

Having a reliable source of oil and gas never looking more sensible!

Hopefully that translate to UK encouragement for Falkland oil and gas too !!

Six North Sea oil and gas fields to be fired up amid Cabinet row over net zero
New drilling to be approved as Number 10 faces resistance over green moves and spending

By
Tony Diver,
POLITICAL CORRESPONDENT and
Ben Riley-Smith,
POLITICAL EDITOR
7 February 2022 • 9:45pm

https://www.telegraph.co.uk/politics/2022/02/07/six-north-sea-oil-gas-fields-fired-amid-cabinet-row-net-zero/

It's been
4 weeks since 'Each party files an updated submission on costs.' (January 10, 2022)
7 weeks since, the 'Company was informed that the Tribunal had rejected Italy's request.' (21 December 2021)
6 months since ICSID said ‘the Tribunal had informed the Company that it expected to complete its work in July 2021’
2 years 3 months since the 'Tribunal holds a hearing on post-hearing briefs in Paris' (October 30, 2019)

Jesus F Christ ICSID, just make your fringing minds up !!

Looks like trade with Israel is going to get a boost.
It would be good to hear of a Rock trade deal with Navitas at the same time!

https://www.express.co.uk/news/uk/1557916/brexit-news-eu-trade-deal-israel-boris-johnson