Member Info for willy1946

"I do not understand the latest RNS. Perhaps I have misunderstood. Heavy Sweet Oil and AC Oil have successfully applied to the Utah Mining Board for approval of a plan and program for the extraction of oil from Asphalt Ridge. This is a joint plan covering both Section 22 (Heavy Sweet Oil) and Section 23 (AC-Oil), effectively making it one project. The plan includes all 26 wells, contingent upon AC Oil obtaining the necessary permits. Valkor is the contractor for extraction and treatment and has secured funding; they have already paid Quadrise an initial payment to commence the treatment unit. The plan allows for treatment of the oils at a single point to save costs and for environmental reasons. Unification of the wells has been discussed (HOW?). Trio Petroleum has let its option to purchase an additional percentage of the lease at Asphalt Ridge lapse, which is an opportunity for Tomco/Greenfield to maintain an interest in the project past 2031. To be effective the treatment plant should be at the point of extraction and quadrise seem to have that in hand. So why we would have an objective to have a separate trate ent plant is not clear. We should be aiming to mantain interst in the asphalt ridge project 2031 is not that far away

ECC approval?

Some of you will have accessed the Nambian website which indicates progress towards approval of the ECC. We saw that the approval was subject to written acceptance of the conditions w hich were a condition of approval. All set out RNS 2nd april 2025.

If you visit the site the word approved is replaced with EIA underway.

Environmental and Social Impact Assessment for the proposed Hope and Gorob Mining Project for ML 246 on EPL 5796 in the Namib Naukluft National Park, Erongo Region Mining

EIA underway

Could be anI T problem or could be a problem with the written acceptance of the condions which are part of the approval.

What evwr it is we need clarification.

If you multiply number of shares in iissue x sp

12billion x .026/100 = 3.1 million the mcap

There are soo many alba shares groc won't make a lot of difference

I DID THIS CALCULATION SOME MONTHS AGO

The problem is the number of shares in issue near enough 12 billion for a company like alba

Divide 500 million by 12 billion is not very much .005 per share if my calc is correct( I AM HAPPY TO BE WRONG) Croc makes no difference

GOld fever makes the difference and will shift the SP upwards

AIM is amazing. A £5000 buy triggers off a 50% jump. What goes up ...

There is no permit yet. Another hearing in May.

A decision at the latest hearing allowed a third party Hoodoo to participate in future hearings regarding the permit.

Hoodoo own a lease on the same land as AC oil to extraxt LIQUID oil. AC lease is for tar sand oil.

The question raised what happens if drilling for tar sand AC strike liquid oil?

IMO Hoodoo are seeking a payout .

Today could be the day

It is the 12 month anniversary of Hope's application onto the online system .

Hopefully some admin person is concerned with that " within 12 month target"

In Namibia applications for ECC approval are listed in the website by the closing date for public comment.

You will all be pleased and suprised to discover that the 12 month anniversary will be 26/03/25

Hopefully its also an end date.

Barnetpete did you miss a point there 0.6?

19/02/25 the volume was 92 million no news SP up 6.7%

Over the next two days the SP down 9%

Today volume will be round 60 mill no news SP up 6%

Tomorrow? We need firm news for this to be sustainable.

Amazing volumes always near the top. 2.4 billion on 2nd Feb.

All on a rumour.

Just think what will happen if we get real news.

Everycloud

Thats correct its in the November 15 RNS ( not the October )at the bottom under CB's comments.

"The Company has now submitted the written acceptance and is awaiting the formal statutory approval"

So the ball is with the minister..

EveryCloud

The RNS 16/10/24 does not say that

Bezant Resources ("Bezant" or the "Company") is pleased to announce it has received the notice of preparedness of the granting of Mining Licence 246 for the Hope & Gorob copper - gold mining project (the "Mining Licence") located in Namibia (in which Bezant holds a 70% interest).

The granting of the Mining Licence is conditional only on the Company completing and submitting a written acceptance, which it is in a process of doing. The grant will be subject to normal terms and conditions under the Minerals Act

It says " in the process of doing" Perhaps you misread?

The application is stiil marked on the ministerys site as awaiting acknowledgement

We need clarification. It may be that the conditions set by the ministery are onerous and the ball is still in our court.

Bezant Resources ("Bezant" or the "Company") is pleased to announce it has received the notice of preparedness of the granting of Mining Licence 246 for the Hope & Gorob copper - gold mining project (the "Mining Licence") located in Namibia (in which Bezant holds a 70% interest).

The granting of the Mining Licence is conditional only on the Company completing and submitting a written acceptance, which it is in a process of doing. The grant will be subject to normal terms and conditions under the Minerals Act

Have we been told that we have aubmitted a written acceptance?

I asked Ai for an opinion on the present situation,, this it:

The document has been submitted to the Namibian mining department for review and has been returned to the company marked as "awaiting acknowledgement." This indicates that the department has reviewed the document but is waiting for the company to acknowledge receipt of the review and possibly address any comments or requirements specified by the department before proceeding further. The company needs to confirm that they have received the review and understand any actions they need to take in response.

Have we been informed that the response has been returned?

Draw your own conclusions as to why Tolsa have not provided the data.

Results too good to make public perhaps?

If providing the date was part of the agreement then Tolsa are in breach.

We should instruct lawers now dont let then make mugs of us.

For example: by denying Sunrise access to the information (good or bad)

They are preventing Sunrise fron negotiating with other parties and we are entitled to compensation.

What is the difference between the mined weight and the dry weight of diatomaceous earth

Aria:

The difference between the mined weight and the dry weight of diatomaceous earth primarily relates to moisture content and processing. Here’s a brief overview:

Mined Weight:

This refers to the weight of diatomaceous earth as it is extracted from the ground, which includes both the diatomaceous material and any moisture or impurities present at the time of mining.

Dry Weight:

This is the weight of diatomaceous earth after it has been processed to remove moisture. It represents the actual amount of diatomaceous material without any water content.

Key Points:

Moisture Content: The mined weight includes moisture, while the dry weight does not.

Processing: To obtain dry weight, the mined diatomaceous earth is typically dried, which can significantly reduce its weight due to the removal of water.

In summary, the difference between the two weights is primarily due to the moisture content in the mined diatomaceous earth.

Good start today.

This reduction in SP has little to do with uncrossing or volume.

Expect some big trades soon.

After a lot of searching I have the submission periods for mining applicatins.

https://www.mayerbrown.com/en/insights/publications/2024/01/namibia-establishes-new-oil-and-mining-licensing-system

What is not clear

1. Do these submission periods apply to our application?

2. If so did we make the submission prior to 1st November?

If not we need to apply 1st Jan 25 decision March 25?

Thanks million

I did google. PHEW best left alone. It may explain what's happening.