Member Info for stevemocal

it is like they've been on a 20 year ****** after getting a big redundancy pay out. but the money is now gone and it's time to face reality, get back to work and bring some money in. first day tomorrow.

We all know the gas is there and worth billions but TL politics has been a persistent blocker to monetisation. As such, our investment in BOIL (for those of us invested because of Chuditch) has always been a punt on the politics changing and creating a pathway to those billions. I honestly do not understand why anyone already invested would be selling the day before a new (pro-gas) government takes power.

It was a careless reply because the question was about monetisation and he answered from an asset perspective and not a BOIL investor perspective. Yes, the asset won't be monetised for prob 5 years but BOIL is never going to be the producer and our monetisation comes with a sale... which won't be anything like that far away.

They just had the election in TL and Labour didn't win. In fact... they didn't even stand.

Labour have talked about blocking new licences... doesn't BOIL already have theirs?!?

Jelly - Shell owned the asset for 20 odd years and weren't able to monetise it. Was that also because of ineptitude and the Board's lack of skills? Or is it just a case of politics getting in the way... which neither company had/have any significant sway over?

Agreed, the interview wasn't great but there is no way it would put off any major from purchasing Chuditch when it would make them billions. It will be sold quickly enough once the political games play out, and that will surely have to be fairly soon because TL simply can't afford to play for much longer.

Had by who? And what did they tell you and what research did you do to verify their claims before parting with your money?

Gixxer - Iceberg posted analysis and there is nothing to analyse at the moment.

I wish my missus would take a leaf out of his book and refrain from endless chatter when she has nothing to actually say.

"His inability to give meaningful guidance confirms my conclusion that his guidance is intentionally vague so he doesn't have to be seen as having failed his shareholders."

LittleWing - It does not 'confirm' you conclusion at at all. His inability to give meaningful guidance could be deliberate (as you suspect) or it could just be what was stated in the RNS i.e. they haven't finished the modelling due to the decision to test whether a cheaper processing technique would work.

"After 20 years of yet another meeting, all we want to see is , one from the non
presumption, getting ahead of themselves , other side, as in Woodside or
other replacement, with ACTIONS, not more studies, surveys and yet more
meetings. GLA"

You could be describing every UK local government. It is a public sector thing unfortunately.

howezap - You may be right about the area between RC and Ascot not being economical to mine but I still remember asking myself why CB kept citing it as a possibility even after the assays were in.

Bottom draw for now. See you in a year or on next news!

Depends on whether Robbie is still buying! I think he'll have another punt to drive this up to .2 before selling again. Amazing that it keeps drawing in the herd despite this being at least the 3rd time he has done it! I guess sheep can't stop being sheep.

howezap - The new technology could however allow recovery at even lower cut-off grade, which could ultimately help increase the amount of copper that is recovered.

CB often speculated whether RC and Ascot joined-up but the assays from the drilling between the porphyry's was "considered to be below viable mining grade." Would the new technology change that? Who knows... they never provided a grade. But he did keep saying it even after they reported 'below viable' assay results.

Some people have also questioned why they have waited 3 months before deciding to test to see what difference the new technology would make in terms of recovery and costs - they undoubtedly were already aware of the technology. Some are speculating that it is because the project is not currently viable, which is obviously a possibility. But it is also a fact that we are still waiting on FB to reach full production and that income is needed to fund the additional drilling that will complete the modelling and update the JORC. Plus, the longer we wait, the more likely the price of copper will go up and improve the economics even further. So, is CB stalling? Clearly he is. But is it because he doesn't want to admit Bushranger isn't viable or because he is waiting for African revenue and for the price of copper to go up? You place your money and take your chances... for me it isn't worth cashing out now, so I'll hold in the hope it is the later scenario and that CB will eventually land this and turns me a profit.

GLA whatever your choices.

Ballard - The big news that we were told by the company to expect in February, was the CPR for Chuditch... which was delivered.

If you were expecting more then it is because you made the mistake of listening to BB and Twitter nonsense instead of doing your own research... the fundamentals here are excellent.

Ballard - You are aware that you are invested in a gas an oil exploration company and projects take years, often decades, to play out?

As Warren Buffet famously said “The stock market is a device for transferring money from the impatient to the patient”. You should ask yourself which camp you are currently in.

"RNS out. BR won't be sold anytime soon ....."

Indeed!

Still need to finish planning the drill holes, get permissions, hire the rig, do the drilling, send off and wait for the assay... all before the modelling can be updated again. My shares are now at the back of the bottom draw.

Positive spin... perhaps the copper prices will be much better next year!

I do not believe there is any chance of BOIL doing a raise to fund drilling at Chuditch. Therefore, at least one of three things will happen before June:

1. BOIL sell Dunrobin (potentially providing funds for drilling at Chuditch)
2. A JV is announced
3. An extension to the drill or drop decision is given (they have a very good relationship with the TL government)

JC - It is bizarre really. It is hard to imagine the financial obligations of both companies are not clearly set out in the contract. Someone is going to end up looking like a Mickey Mouse outfit... let's hope it's Timor Resources!

You think they are going to give up their 25% of Chuditch, an asset potentially worth 10's of billions, to raise the $11m they need to pay Timor Resources? I don't think so.

All they have done is make themselves look like an untrustworthy, tin-pot, third world organisation and it reflects badly on TL itself. Hence the public kick up the backside from the president.

Fish - why do you think it will be a catalyst?

It could go the other way. It could make potential buyers for Chuditch nervous about going into partnership with Timor Gap if they don't have the funds to uphold their share of financial commitments.