RE: Best alternative? #PTAL30 May 2024 15:15
Your implied investment boundaries make the exercise a tough one. Before going o/t I add a relevant comment on PTAL part of which has already been made:
a) a cash pile of $200m could be very beneficial in anticipation of a vastly expanded company; b) I cannot see Upland making a decent fist of #8. Locals want PTAL (like PeruPetro did) as operator. It was only the criteria that removed PTAL as the preferred candidate. An obvious proviso would be PTAL not being responsible for clearing up the environmental mess; c) likely SP stagnation remains until further seismic and/or a-n-other acquisition. NB. It's not that long ago when the price stood @ 34p or even earlier @14p.
Participation elsewhere . . . mostly is in i3E and THS, both with shareholder returns' policy.
Regular shoestring visits to Calgary (AB) and Vancouver/Victoria become fewer. An inspection around Montney etc would be very useful. A chat with SMcD following his last comments on TKO, plus doubling of production in 2025 and dividend, is worth follow up. I have bought 300 TKO to test liquidity factor on AIM.
Having once been a man of the African bush, who would rather be seen with a tent and rock pick, I have a special interest in THS (Bushveld/Rustenburg and Ngezi). (They, too, have a returns' policy. Judgment has to include HongKong PGMs' reports.)
Where possible I keep in touch with a few companies and mostly do not repeat any private comment. A recent reference was on TXP which should recover at some point. Please note PB is regarded as a "very creative" bloke. The severe decline rates, however, are worrying. Emphasis nevertheless is on the original question related to yields.
Nothing is assured: SHG looked guaranteed until we were right royally screwed. I knew Saza/Mbeya, Rosterman/Kakamega very well, Singida less so, and an open pit at Ramula looked very likely. At one point I was close to recommending the stock above all others.
I am keen on the Kabompo dome/Roan group and the Kalahari (ARCM). Greater reliance would rather be placed on the anthills in preference to human probes: termites are more likely to bring up trace minerals on what lies beneath 50 metres of Botswana sands.
JSE (exited reluctantly @95p) is worth reviewing although always wary of FPSO mishaps.
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