Member Info for stirfry13

will be interesting to see where this goes overnight and where it opens tomorrow. USO has fallen further since we closed in London.

Dom, this oilprice article suggests most holding is now full
https://oilprice.com/Energy/Oil-Prices/Brent-Crude-Oil-Prices-Fall-20-In-Early-Trading-As-Panic-Sweeps-The-Market.html

robert - that is my worry too, either I get wiped out or worse. The WisdomTree website says that Loil is a leveraged version/track of the Bloomberg WTI crude subindex, which is well into positive territory, but I still don't really know how that subindex is itself calculated.

that's what we're here for draft! Just don't fancy it turning negative on me in the meantime - is that even possible?

But how low will LOIL go? Looks like 1.5 was a great entry but will it go even lower over next week or two?

I thought I'd just look back at my notes from the AGM those many months ago. Lots of good stuff there including the comment from our leader that production is not limited by size of the deposit, just the current size of the market. That really was quite a statement. Plus Patrick felt we would need a slow start to operations because the market might not be there for it yet. Personally it looks as though the market is very much going to be there for us, particularly with Navajo power station now shut.

Also he said that cement companies in particular are very conservative and will take their time to assess the product so we would have to be patient. He seems absolutely right about that.

In fact from what I can recall demand seemed to be very much Patrick's largest concern. So I have very few concerns about permitting et al as that just isn't where the risk lies.

Originally Patrick thought we would have a mobile processing plant for the first few years but obviously this new option to use the old plant up the road could be a cracking opportunity but don't know when it would be ready or the investment required. To build a perlite processor (off site) would be about $10m and very much stage two according to Patrick.

Very nice to look back on these notes and feel even more confident now than I did then.

For me it’s right personnel, a viable low cost shovel-ready asset, in the right part of the world for both permitting and customers. Just look at sister firm tym to see how assets can get stranded.
Nothing happens here quickly but I really do expect to see some positive movement this autumn/winter so a nice hold for my portfolio. No advice meant.

Very encouraging that Stephen says indicative of both oil and gas at this stage.

Don't think S&S will be putting such specific timeframes on future RNSs. They raised expectations way too high.

oldabutnotwisa - do we know they raised what they wanted? RNS doesn't say placing was oversubscribed or indeed even fully taken up, which i think they would have said if that was the case. Coil claims they wanted £5m but couldn't place it due to lack of Cali news and price too high - believe that or not as you wish but both seem understandable reservations. I do hold RBD and personally think the current SP is selling tenners for a fiver but there is still risk.

All very tedious waiting for news; hard to really resent sellers bailing through boredom. But SRES seems to be so close to a company-making outcome IMO.

Sam, have you raised your transport concerns, whatever they are/were, with PC and if so what reply did you get?

I think the most important element is actually the closure of the Navajo plant. At the AGM to my mind PC seemed less concerned about product quality or mining permits or mine design than about whether there was going to be a market for whatever could be extracted. So now it looks as though the market will be all but assured (I may be wrong) and everything else is falling into place. Very happy with my l-t investment here right now though it’s been a long time coming.

What do you mean, Orange, that it’s a cylindrical business?

Sorry wrong board!

If you view the recent video interview Patrick did with Proactive then I think he’ll probably find the SP action since the rns very disappointing so far. In the video he stated that he believes “events like this deserve a re-rating”. I fear we’ve just got too many sellers from the previous low level placings. I really thought we’d see a close above 0.2 today. Maybe a few more days and it will start to climb.

Fish, do you not realise fluorspar is an EU critical mineral meaning it is of major importance to European industry and has special status? No way the herders will prevail imho.

Not many trading days left this year to deliver this so am now very excited..."We are expecting strong news flow for the rest of the year". I really hope he does mean 2017 as could be a great Christmas gift.