Member Info for Tornadotony

Whatever happens 1580 = 17% more earnings. This applies to all miners. Additionally more gold is economic to mine on top of this. I have not added to positions but staying put. Q1 earnings look great for April.

Another base attacked.

This could escalate into a full blown middle east war WTI up to $65 and climbing.

10 missiles hit USA airbase in Iraq.

GDX up just 1%. It could drift up tomorrow by a penny or so.

If silver futures stay where they are tonight than a blue day on Fres tomorrow. I think we hit 677 last time.

The gas off take problem was created by the World Bank in conjunction with ENI. Until they forced the hand of the Government of Ghana it was expected that Tullow would get its share of gas off take from the Jubilee and Ten fields. Those events arose much later in the year as ENI forced the contract issue. Dorothy demonstrated the consequences of what was happening to Tullow with all its subsequent impacts. The committee set up needs to resolve the issues on contracts for gas off take quickly. It has a huge negative impact on all Ghanaians in that it makes them poorer as a population which incidentally is the exact opposite of what a World Bank should be doing.

The exploration director Angus McCoss would be 70 years old this year. With the best will in the world it was time for a younger person to have their experience in that role. I think its likely that an internal appointment will be made and someone that angus mentored may get appointed. Dorothy's dismissal was dramatic in delivery with the CEO but actually he would have probably gone any way whatever Tullow's performance.

The closing price values Tullow undeveloped oil resources at 80 cents a barrel. At 68p the value was $1. The industry average is over $2 so it does take into account a lot of acreage is Africa and South America. The flowing barrel rate is rock bottom prices at around $35,000 per flowing barrel which is near the lowest end of 2014 fire sale levels. I am not sure where the short side think they can take this after today's tree shake. I do invite others valuing Tullow's value as I am really struggling to find why it can be this low in price. I keep asking myself what I am missing.

They hit oil in Suriname block up 24%. Not sure how far from Tullow licence area.

My strategy is currently to hold and wait for the report 12th February. The averaging down has effectively halved my original buy in price. Nobody can evaluate clearly what Tullow is going to do. Investors took the pain with divi cut and SP cut. I suspect competitors want to cherry pick Tullow assets. Some buys may just a licence that has yet to see any exploration, some might be production, others may just involve a greater stake in an existing development project. We are not party to seeing competitors shorting Tullow stock or low ball offers some might make. The reality however is that those assets and the production exceed the current share price and all the known debts. If it goes very low, the temptation to double up for me at least becomes immense.

CGT carryover does not have a limit but you must declare the carryover each year until having used it and adjust remaining if any in subsequent years.

https://www.taxationweb.co.uk/forum/any-time-limit-on-claiming-capital-losses-t50197.html

I would just add that any loss in a particular year can provide carryover CGT relief in another year when the gain is above CGT allowance. I have done this myself and did not have to pay CGT in a good year by making use of a loss from an earlier year. This is for those who are perhaps underwater by 10k-35k mark.

GDX down 1.4% so far and SP is therefore more index related than anything about Centamin.

It is in line with Van eck GDX chart. Centamin overrun slightly and is waiting for GDX to catch up on USA open.

there instead of their!

It is when the Washington Post looks into the activities of the World Bank and links it to the fact that its operating against its own mission statement and picks up the Ghana article posted below then this issue may well get resolved. Tullow actions have shown a great big light on it. The parallels to Ukraine conversations are their to see.

https://en.wikipedia.org/wiki/David_Malpass

Man behind the activities of the World Bank closely linked to Donald Trump.

https://www.ghanaweb.com/GhanaHomePage/business/World-Bank-pressures-government-over-5bn-Eni-gas-817225

Cause of Tullow problems.

Put a buy order on the book. If it goes through great if not happy with position.