Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
M.Buck's inability to deliver Block XX drills SHOULD make everyone nervous as it relates to WH. The FACT is he has delivered every one of him promises late, without exception. He is not what you would call a smooth operator. Consider what would happy if/when he fumbles WH? The silver lining is that his credibility is currently shot, so he can't hit us with another capital raise which he locks retail investors out of.
What is unfair is that M.Buck went on TV not long ago and told us "All is well!" And those who believed him will suffer a significant loss today because he cannot deliver on his promises. You can defend him if you like, but he's just a snake oil salesman in my book!
dan1nat1, a full list of M.Buck's goal post moving for your review. Does this look like a quality operator to you?
"Wild Horse: First Drill! wrong pushed to 2nd place! Why? Because they couldn't sort permits in time.
"We're drilling on 3D!" Nope, structure too small. Ok, but why tell investors that if you're not sure?
Snow Leopard Spud in 2Q: Nope!
Block XX rig contract by end of August: Nope!"
Now of course we have no Block XX drills at all!
Pure incompetence!
I'm sorry Gkhan, but why would Matad delay appraisal drilling in XX for a farmout? Seems quite counterproductive to me, by definition, especially in light of Mongolia's short drilling season. Do you honestly think a farminee would rather appraisal drilling be done mid-2019?
How can Block XX not be a priority? I'm sure he promised those wells in all of his capital raising! I don't think it helps if investors continue to enable M.Buck's goal post moving, as he has done quite a lot of that already.
If Snow Leopard is a duster AND there is no Block XX drilling this year, Mike Buck will have lost all credibility.
I am not hoping for either of the above outcomes, in fact quite the opposite.
Snow Leopard is a wildcat and by definition unpredictable. However, lack of Block XX news with it now being September, is highly troubling to me and leaves me questioning M.Buck as an operator.
I think at this point we can can rule out 2 wells in XX for 2018 and investors need to accept that even if the company won't admit it.
Yes "if." I'm not trying to be negative, I am a shareholder.
But OJ, can you honestly review all of the M.Buck goal post moving and say he should be CEO of the year?
He's missed just about every one of his own milestones (sometimes not by much, admittedly), if you don't believe me, just review what he himself has said!
Let's also face something else. If M.Buck fumbles Block XX and doesn't have exploration success, it might be a brief tenure at CEO. Or worse yet, he hangs on with impaired credibility.
I am hoping for positive outcomes, which can certainly happen, but his track record so far leaves some things to be desired.
With all due respect PM:
Wild Horse: First Drill! wrong pushed to 2nd place! Why? Because they couldn't sort permits in time.
"We're drilling on 3D!" Nope, structure too small. Ok, but why tell investors that if you're not sure?
Snow Leopard Spud in 2Q: Nope!
Block XX rig contract by end of August: Nope!
If M.Buck can deliver Snow Leopard it will be the first deliverable he has made since becoming CEO in fact!
"Mike Buck quotes" are losing credibility as he has not yet met a single milestone he has set for himself and the company. While I remain invested, I am also very disappointed in M.Buck's inability to deliver on timelines and promises he himself has made.