No reral reason for the drop today...15 Jul 2024 14:00
If anything this should have bounced up, it was a good positive RNS, with no real downside changes.
Expect a postive uplift this afternoon.
This afternoon should be back to where we started this morning around the 0.075 range.
Just a reminder and pinched from Toms earlier post but good to put this back at the top of the board, hope you don't mind Tom, but its a good breakdown and reminder to what we have and what we have to look forward to... ....
#MSMN Quarterly Update RNS:
A near double increase in net production. 6,287 barrels of oil for the quarter to end of June, marking an improvement from 3,764 boe for the March quarter.
CEO “With the oil price around USD 80 per barrel this asset provides strong cash flow.”
1/6
Cash position was $1.07m at the end of June, but since there’s been warrant conversions of $427,000 & addition O&G revenues. Also there’ll be $750,000 due from the Stanley sale in September. So a healthy cash balance & no need for a cash raise.
2/6
The most important & key update is Operator (Greenvale Energy) #GRV has been advised by the NT government department that they would approve or request modification to the submitted EP145 Seismic Environmental Plan on or before 26 August 2024.
3/6
Great news re #Helium asset EP155, as #MMM has confirmed that a prospectus has been approved by the UK Financial Conduct Authority ("Prospectus") regarding the reverse takeover by Georgina Energy - now schedule for early August after the AGM
4/6
The market has seemed to knee jerk at the wobbly Cinnabar oil production, seemingly forgetting the recent pivot away from O&G toward #Helium. Strong cash balance & helium updates aplenty to come. A top up opportunity in my opinion!
5/6
Key Catalysts:
• #GEP Georgina Energy Update
• Georgina Energy RTO
• EP145 Land Approval
• EP145 Environmental Approval
• EP145 Seismic
• EP155 Update
• Vecta USA 5x Drill Schedule
• Vecta Drill Updates
6/6
https://x.com/redditdeluxe/status/1812780640162501111?s=46&t=IHEn1TE0c7FNFBktt6H8XQ