Member Info for Tobin

good to see a few new people on the board. Worth mentioning that the real gains with this share is likely to come over time. At the moment it is finding its way on how to develop these salt lakes and it is only developing the first lake now, and there are 9 lakes in total. This video by Justin Waite puts it into context.
https://www.youtube.com/watch?v=e0V_4OHNflY

I’ve had a look and MOP prices look much the same and surprisingly stable considering Covid, there again the world in a years time post Covid will have more mouths to feed than now.
This is a long term project and the low capex and low transport costs to Atlantic corridor remains compelling reasons to invest

Markets are up since the end of April, and £ weaker.. so NAV maybe 10% better today. Likely over 40% discount.

Thinks have moved along since wild horse energy. I am not one who day trades, and tends to hold his shares for years to see the benefits but one can only thing that someone needs to keep a closer eye on his or her portfolio. The world changes.

I agree, I feel TXP is an exceptionally attractive buy. Why did you buy i3e ? It doesnt look an attractive purchase at 5p. It is important to learn from our mistakes. Any insights??

Price of PIN is slightly weaker even though the US market is up 4-5% and £/$ is down. A things being equal the NAV should be higher than at the beginning of the month and the discount even wider. The end of April NAV should be published in the next few days and should give a better idea of where we are at. It could be motivator for a re-rating of PIN if the discount is as wide as expected.

Thnks RS, I am sure your right about the underlying valuation of the RSE portfolio in the last month; but without firm evidence I was being quite conservative. NAV is probably north of £5/share. Wide discounts can continue for a long time though, but shouldn't with the degree of buy back envisaged.

Good results on the pumping. Australian Potash are planning to just use borefield for abstraction and on these results that sounds like a sensible move. On the figures each bore hole would pump about 1 ton of potash/hour, 8000t/ years and a bore hole before pumps etc maybe $80-100,000. The Boreholes working well will allow much larger resource to be extracted and much longer life of project.
Given the importance of this you could ask why they haven't done this earlier.

nav 31/3 was 4.30. Overall market up 20% since then so NAV maybe £5/share. So still at 40%+ discount. With cash in hand and a buy back policy this share should over perform compared to the market IMO.

A few posts seem to think that TXP were expecting to find oil, but gas was always expected because this was found when they were drilling in the 1950s, and not developed because they were primarily gas and at that time they were looking for oil. So a presentation from 2018
https://www.youtube.com/watch?v=M7Vo6sCjS_I 15minutes in to about 20mins, but its all a very good back ground on the company, and Trinidad oil/gas.

There is a plan to convert MOP into SOP. It is an expensive process using sulphuric acid and furnaces, and there is usually a cost to disposal of the waste product, hydrochloric acid. This was proposed by the company in November. Its called the Mannheim process.
https://www.rns-pdf.londonstockexchange.com/rns/4467U_1-2019-11-24.pdf
The reason that there maybe potential for EML is that Morocco has a huge phosphate industry, and produces sulphuric acid for that. Also Morocco is developing a compound fertiliser industry so producing SOP to feed into that without the added transport costs looks attractive.
But there are a large number of projects being developed for producing low cost SOP from salt lakes in Australia. These will likely force out some of the higher cost producers using the Mannheim process. Still room for a low cost Mannheim producer?? Yes, but I suspect the profit margin will not be quite what is hoped for.
But it is something that is scalable, and relatively low risk somewhere down the line.
The real value for this company is low cost MOP that will make it attractive to OCP. The risk is that OCP is essentially Moroccan Government.

Also from the results from coho and cascadura mean they have been looking across the block and have now identified "between 11 and 14 different prospects".

interesting play with the figures. I am backing the company that there interpretation of the geophysical data across this central block has been right twice and has IMO better than 50/50 with chinook. Royston has to be 50/50. But there are other sites not yet "booked". Page 37.. https://www.touchstoneexploration.com/wp-content/uploads/2020/02/Touchstone-Presentation-February-2020-.pdf
So lots of upside if they continue to be right.

I posted this a few days ago, but surprisingly I haven't had any response .. considering that these are both OIl/gas plays in trinidad that have both recently announced big finds recently. Any thoughts ??

Interestingly there doesn't seem to be any cross over between the members on both BBs.

From Monday :
Columbus Energy in SW Trinidad announced a few days ago a big strike. Looks like they are doing a similar think to TXP and revisiting areas in TT that have been drilled before but with new seismic data and drilling techniques.
Anyone got thoughts on the respective risks/benefits???
There's a good report just released on their site.
https://columbus-erp.com/investors/reports-and-documents/

SP down 10% in the last few days on no new info. Markets fairly flat. It looked a great buy last week, even better now. I have increased my position today.

Columbus Energy in SW TT announced a few days ago a big strike. Looks like they are doing a similar think to TXP and revisiting areas in TT that have been drilled before but with new seismic data and drilling techniques.
Anyone got thoughts on the respective risks/benefits???
There's a good report just released on their site.
https://columbus-erp.com/investors/reports-and-documents/

The RNS is reassuring regarding the NAV. Obviously difficulty in calculating this accurately but it looks like they have worked diligently to offer the best available. Much of the portfolio is in the US and is in IT, and healthcare sectors that have not been heavily affected.
Historically the NAV has followed the tech 100 index reasonably well, and that and the S+P have rallied well from March 31st NAV calculation date, in the order of 12-14%.
The exchange rate to dollar and euro is essentially the same.
The NAV should be nearer to 3150 and on todays SP that gives a discount of over 37%.

I do worry that the recent rise was not some insider knowledge. But it still looks like a "screaming buy".

Maybe nothing and just the effects of the Covid crisis but RNS is always out by now.
And there was a big share price rise yesterday.. near 10%.. as if someone new something they shouldn’t have.
Enough of the conspiracy theory but some guidance on NAV would be helpful in decision that need to be made.

This RNS is probably worth commenting on. The Chair and a couple of non execs took remuneration in shares rather than cash. This helps reserve cash but also gives reassurance.
The capital cost of the project look high. They are obviously looking at how to develop this resource with less CAPEX, hence the solution mining approach. Worth a small punt. I have bought my first small holding today.

listening to the video of PB it sounded like the reason for a well at chinook was next on the list because it is only 1km t the south of Cascadura and the main cross country pipeline is a few km to the north. If Chinook is a hit then it will alter the infrastructure to tie it in.