Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Of course, if I was a trader rather than an investor I'd say anything under 5p then fill your boots; it's a steal; buys showing as sells; NT to buy; they want your shares; never get this chance again, etc etc.
And sell into the rise.
I'd rather err on the side of caution and hopefully be surprised rather than disappointed. It's taken a long time to get here.
Tough one to predict biglad.
Just Atomic at current known production rates then maybe 1.5p. If the nutters turn up on masse then its anyone's guess.
It all depends on news between now and relist. Here's hoping for some great news
Certainly does SR.
As ever, patience is key. Been here pre Talaxis and not even slightly tempted to sell any just yet.
I'm sure we'll see some fun and games with the price over the next few months as institutions start sniffing around. It won't take a great deal to move this significantly higher as there's not a lot of shares floating around.
GL to all the diehards
10,000 BOPD is great headline but it's worth pointing out a couple of things;
The figure is a combined forecast (Shannon & Cole Creek) and the CC element is for 2027
The figure is not the amount attributable to COPL as we don't (yet) own 100% of both assets
Q4 production was just over 800 BOPD
Forecast 2021 production attributable to COPL is around 1300 BOPD
I've no wish to be a party pooper and the figures will no doubt increase over time but, in terms of thinking about a value when we re-list, we should be looking at production now.
It's a bit like saying OPL226 will produce 50,000 BOPD and neglecting to mention our stake is 5% currently.
Just trying to maintain a sense of reality or I'll need to stock up on Tena before we re-list. It's exciting enough already.
Hi
I thought I'd post this section from the Ryder Scott report for those that may not have seen it. Enjoy
UNITED STATES (BFU) - FUTURE DEVELOPMENT
The Barron Flats property produces from the BFU Shannon Oil Pool. Over a large portion of the pool, miscible gas flooding is currently underway, a project which received regulatory approval in 2019. As of December 31, 2020, Phase 1 of the Miscible Flood Recovery Scheme is substantially online, with eight operational injection wells and thirty-two operational producing wells within the BFU Gas Flood area. As well, most of the required large equipment purchases for purposes of gas flood operations have already occurred.
Development completed by the end of 2020 within the BFU Gas Flood area consisted of converting the BFU 24-20V well to an injector during the month of December. This injector began operation during December 2020.
The client has plans for an additional drilling of 37 wells within the Shannon pool starting in January 2022. Based on the proposed development schedule provided by the client, and net pay mapping completed by Ryder Scott, 24 new locations were included as proved undeveloped reserves, and 13 additional locations were assigned probable undeveloped reserves.
Based on information provided by the client at the time of report compilation, Ryder Scott has estimated the drilling schedule and scheduled future drilling in accordance with that schedule and our reserve categorization. It is recognized that the client may have plans to modify the timing of the well drilling (space out the drilling over 2022 and 2023) and the assumed schedule may change. Generally speaking, capital is forecast to be invested one month prior to the online date.
UNITED STATES (COLE CREEK) - FUTURE DEVELOPMENT
COPL plans to drill 48 new horizontal wells in the Dakota and Frontier 2 pools; this is comprised of 17 proved undeveloped locations and 31 probable undeveloped locations. In the near term, COPL plans to drill 1 Dakota horizontal oil well and 1 Frontier 2 horizontal oil wells in 2021, followed by 1 Dakota and 3 Frontier 2 horizontal oil wells in 2022. Ryder Scott has based these assumptions on information provided by the client at the time of report compilation and recognizes that the plan and timing schedule could change. There are currently 9 producers in the Cole Creek field. In 2021, COPL is also planning four or more Frontier 2 uphole recompletions/stimulations of existing wellbores. These are expected to come
on production between September and November 2021.
It's worth looking at the statement of reserves produced during April to get some sort of idea of where it puts the company in terms of value.
I think you could make a case for anything between 1-3p depending on the assumptions you use.
Estimated 2021 production (attributable to COPL I believe) is 482,000 barrels so around 1300 barrels per day x $per barrel less costs, taxes etc as a starting point. Then pick a P/E ratio to use and that will give you an idea of likely market cap.
We also know that gas injection will continue but we don't know with any certainty the impact on flow at this time.
There are also new wells planned for this year and a whole shed load for next so clearly production is likely to increase, probably by a significant amount.
Total future net revenue before income taxes is currently forecast at $588M for COPL
Success in Nigeria would add a whole new level.
It's an exciting time to be a shareholder!
Unfortunately it's become a bit of a toilet here, which is a real shame but kind of expected.
Some people simply hate success and, make no mistake, GGP is a huge success and Hav is a huge success. The SP will catch up eventually if you have a bit of patience.
I've never understood why anyone would wish to engage with people who simply get a kick out of insulting other posters but each to their own.
Like Panama, I may not have (no, definitely haven't) contributed a Paddy or Bamps level of analysis but that's not the point. I'm invested and if I want to post anything at all then I should be free to do so without a sneering response from idiots who probably don't have a penny invested.
Keep posting Panama. Our day will most definitely come and all of these people will magically disappear.
Best wishes to all the 'normal' people
I know its a bit 'left field' but I have a theory too.
The updated corporate presentation is actually an updated corporate presentation.
I realise this may be too much for some people so please accept my apologies for any distress caused.
Very much looking forward to tonight. Expecting another knockout set of results as a minimum.
is it that anytime we get positive news the board is hijacked by;
Crypto
Where can I buy gold coins?
Cars
Mortgages
Recommendations for other shares
It's tiresome.
Anyway, positive RNS and not long now until the next set of drilling results.
No idea why the samples have gone to Romania and I couldn't really care less as long as the work gets done.
'Transitioning'. Yep, will take decades. Electric cars are not 'green'. Rare Earths for the batteries, petroleum based products galore for all the plastics. Wind turbines? Shed loads of rare earths, plenty of steel etc etc.
You might also want to look up the word temporary. WN-A EWT confirmed as going ahead so, despite the time delay, it has been paused temporarily,.
Many thanks Guitar - excellent reading. Gave me a proper warm fuzzy feeling (although that may have been the whiskey).
I particularly liked to the future development plans. Heck of a lot of wells planned.
All looking good
As a long term investor in GGP, it stands to reason that I trust the board to act in the best interests of shareholders.
If I didn't, then I'd sell and rummage around and try and find something else with the assets and potential that we have here.
So I'll be voting Yes to all resolutions and continue to trust the board.
I wish they'd clear off as all the buying is doing nothing for the share price.
Not that I'm bothered as I'm in no rush but it's all a bit counter-intuitive isn't it?
Big buyers for weeks and share price drops.
Anyone does a dummy sell and it means 'they want your shares.'
And apparently the price will rise when the big buyer stops buying?
I've come to the conclusion that it's all a load of horlicks.
Far more excited seeing those satellite pics and the progress on the ground.
All the rest of the nonsense is just trader talk.
Roll on 29th
Hi Charlie.
Whilst I get your point re a special dividend I think that money could be put to better use on developing our new asset.
I don't think you can stop any sort of mass sell-off but I do think there will be plenty of buyers to pick up the slack. If the news in the run up to re-listing is positive then I would expect more institutions to come on board. In effect, private investors will be displaced by institutions.
If you believe in the company then it's just a question of holding your nerve when things go mental, as they undoubtedly will, at least short term until the dust settles