Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
If you read the RNS carefully there is nothing in there which confirms that Adam Frisby has accepted the condition that he becomes CEO of the new company. Neither is there any suggestion that he is happy with the proposals being made by the Independent Directors. I detect an undercurrent here that the Independent Directors have had to carry out their duty and make he announcement based on what is currently on the table. Meanwhile, I have the firm view that Adam Frisby, who clearly loves his brand and sees it as ‘his baby’, is beavering away in the background to make sure that this proposed deal does NOT go through. I say, watch this space and expert a major U-turn or counter-offer.
No wonder ITS haven’t issued a formal statement/RNS yet. Just look at how distressing & emotional this has been for Adam Frisby who, I’m sure, will be being consulted before the statement is made. Take the weekend to gather yourself, calm down, think straight…. then update the market very early this week. Big news on the way IMHO.
https://www.instagram.com/reel/Co20xJtA2Ce/?igshid=YmMyMTA2M2Y=
Price ticked up despite Sellers being in the majority….. interesting !!
….. and, @Dom-Bella the other share that you are not allowed to mention again is about to break out too ;)
Yup…. folks will just be reading that RNS so expect heavy buying this pm
Nice gain…. are we inching forward under the radar of the herd ?
Not sure about a quick rocket to 12p but worth holding just in case. Agree with Dom Bella about UBG, Buys are trebling sells so far today. Ready for launch I’d say :)
Not sure about exact distance. I think one of the objectives is to determine whether Shell & Total might actually be tapping into the same resource. I guess that could get pretty complicated if it were the case and probably cause delay. Not sure if that might play in Walvis Basins favour ie. let’s see what’s going on up there while The Orange Basin issues get sorted out. Who knows !!
Same article, but in a different press publication;
https://www.thevillager.com.na/files/editions/707_The%20Villager%2013%20Jan%202023%20no%20436.pdf
Small beginnings, but good to see :)
Like I said in an earlier post, there is increasing press coverage about Walvis Basin now. Also further suggestions of similarities to Venus.
https://www.eaglefm.com.na/news/namibias-next-great-hopes-beyond-venus-and-graff/
https://www.irsteel.com/en/news/64134/The-Top-5-Exploration-Prospects-of-2023
Check out the write up on Aurora, 290km from Walvis Bay. “ Despite the differences, geologically Aurora should be similar to Venus, so in case the exploration well does hit commercial volumes of oil, it is going to be big “
Further confirmation of GBPs own expectation in relation to the similarities with Shell & TotalEnergies Orange Basin discoveries. Things beginning to hot up for GBP !
I was a bit underwhelmed when I saw the RNS regarding the 6,000,000 share options granted to the CEO at 0.415p. First impressions were that this lacked ambition as we aren’t all that far away already and we could hit that very easily just on a rumour. However, I’m now informed that only a CEO in a very strong position could cut a generous deal like this. It implies that something big is cooking in the very short term which the CEO is pivotal to. He wants to benefit as much as possible hence just small rise before he free-rides all the way. Very interesting !!
Neither ECO or PanContinental issued an RNS about the EIA despite them both having licences in Walvis Basin. If you look at Fig 1 in the GBP RNS it shows that the EIA doesn’t cover all of their 3D seismic areas. Hence the EIA probably wasn’t RNS-worthy for them. Much more significant for GBP because the EIA will cover all completed 3D seismic areas and also any future 3D seismic work being funded by a potential JV. GBP chose the their RNS wording very carefully, stressing that the entire PEL94 area was covered by the EIA. Fig 1 was provided in the RNS to illustrate that our competitors cannot say the same thing. Does this make PEL94 one of the most attractive licences for JV partners ?…. surely it does ?
I think that people may be missing something very important here. Check out the map (Fig 1) on the RNS dated 30/11/2022. What you’ll see is that there are only 2 licences in Walvis Bay that will have BOTH 3D Seismic AND an Environmental Impact Assessment, PEL 94 is one of them. That increases our appeal to potential JV partner’s substantially
It’s a bit of a conundrum, and probably subjective, but my reading of the situation is much more positive. I believe the EXISTING 3D seismic data on Marula & Walwitschia is already sufficient to tempt a farm in partner and that it is the environmental impact study which is conditional to an offer. On 30/11 we received the RNS which confirmed that the impact study was to be undertaken and that the entire PEL94 area would be covered. GBP seem to be suggesting that Marula & Walwitschia are drill ready and that there is already enough data for a farm in partner. On that basis, and subject to the impact study, a deal could happen much quicker than meets the eye. The partner would also be buying into the ‘leads’ on the east side, which still do need the 3D seismic data…. but this could be parked until after the two main prospects have been drilled. That’s my take on things. Good luck all
3 minutes in… we feel that our efforts & persistence in Namibia have “paid off”
Right at end…. whilst there can be no guarantees, Global Petroleum is optimistic about its prospects in Namibia.
In between he talks about the 2 drill-ready prospects but also why some of the other GBP leads are looking very promising.
Could be a good time to get in / top up & wait it out.