Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Not surprising there is a bit selling going on after the recent rises. I'm sure this will push on soon though. We got update to look forward to and further rises in POO
I guess traders do still look at technical analysis and hence it effects the share price. So perhaps, unless the POO sees another break out, we are waiting. When do we expect those MA to catch up?
All in all pretty positive. Looks like perhaps shale will keep up with demand in the US but the OPEC+ cuts will hit stocks harder elsewhere. I take it this would be bullish for Brent. What do people think?
Our global demand growth estimates for 2018 and 2019 are again unchanged at 1.3 mb/d and 1.4 mb/d, respectively. After a slow start to the year, OECD growth will be 0.3 mb/d, with non-OECD growing by 1.1 mb/d. Demand in China, India and the US is estimated to have grown by 1 mb/d in Jan-Feb 2019. OECD demand fell in 4Q18 for the first time since end-2014 and also in 1Q19, mainly on weaker European numbers, but it will recover, led by the US. Global oil supply dropped 340 kb/d in March, as OPEC+ cuts deepened and Venezuelan output fell sharply. At 99.2 mb/d, it was 3.1 mb/d below November 2018 and up 530 kb/d y-o-y. In 2019, non-OPEC production will grow 1.7 mb/d versus 2.8 mb/d last year. OPEC crude oil production tumbled 550 kb/d in March, to 30.1 mb/d, on further cuts from Saudi Arabia and steep losses in Venezuela. Saudi output dropped to its lowest in over two years, boosting compliance with supply cuts to 153%. The call on OPEC rises to 30.9 mb/d in 2Q19. Global refining throughput fell by 2.5 mb/d in March as unplanned outages and accidents hindered the US in particular. Our 2019 growth estimate is revised down to 0.7 mb/d on tighter crude market fundamentals: 3Q19 could see the largest draws since 2011. OECD oil stocks fell by 21.7 mb on the month in February after three months of increases. The decrease was more than the five-year average of 5.1 mb due to larger gasoline draws and a lower crude build. March preliminary data show a significant crude build in Europe. ICE Brent reached a five-month high above $71/bbl in early April on supply concerns. New infrastructure capacity in the US helped WTI to narrow its discount to Brent to $7/bbl. Gasoline markets continued to rally, while cracks for most other refined products fell in March.
3 dollars?? Are you the new SK members?
How about this for a conspiracy theory, members is a GS trader! Honestly it would suit them to have this rubbish spouted
Very sad. No-one should ever put all their on one share. It really is not a good idea and against all advice ever given about trading
Brent is not up since close of business yesterday Members. Why would you expect every oil companies price to fluctuate with every 30c swing in POO?
Honestly Members. You see the figures how you choose to and keep scratching your head.
Oil is fractionally up on close of play yesterday, PMO is effectively unchanged as are all the other oillies. Come on Members, have a bit of patience
What other oil shares are "well up" members?
Sea Lion is going to be a FPSO. Don't so any point in time back to shore for that or for oil in general when it's going to shipped out anyway. Gas, well I see your point but again I'm sure gas can be turned to LNG offshore and transported from there. I just don't see it happening for the FL's. Who would go to live there and run it?
Thanks Withoutt. I don't buy into this manipulation stuff. They are not changing their position by massive amounts as far as I can tell, so I don't see how they can influence the share price a whole lot.
Do share Dodger
What exactly doesn't add up?
Someone mentioned a while back that they were probably buying for clients to cover shorts which would have been in profit since the drop late last year. Some shorts you can't just close at anytime, so they buy the share to cover any movement upward hence locking in profit until the short expires. Seems a good explanation to me
Actually, I remember the market reacting quite well to better debt pay down than guidance
I think we might see a decent jump once the trading update for 2018 comes out. Worked for tlw.
Hi Lemarc, Could you go into a little about the warrants and how they are causing a drag on share price? Principally do premier issue new stock to close out the warrant? Regards S
Members If you look at the charts last time Brent was on the rise and around these levels PMO was in the 68-74 range. I would say on average it's a little better this time around. That's not to say the market doesn't feel there is an IR risk. I think it does but it's not significantly worse off for it.