Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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Thanks to both orslega and big timber on their precise and in depth and unbiased info and insight into the Mexico position and rp plant My limited view which I have voiced does agree that shoats creek was never going to be the big draw and randy was happy to give up a little there for a cash flow and future funded drill program but the winning ticket is Mexico with the opening up oil reform and service industry rather than oil production Interesting that capacity has been increased from 700 to 845 tons a day [ is this confirmed ] I hope this is due to increased interest and pending contracts News well overdue and to come soon As always DYOR Again waiting to hear about any agm ??????
"Interesting that capacity has been increased from 700 to 845 tons a day [ is this confirmed blingybird; Yes, the increased processing capacity was confirmed in the 20/4/2016 RNS "Upon completion, the Facility will commence operations on a 24 hour per day, 7 day per week basis, with a processing capacity of 845 tons per day which represents an increase of approximately 20% from the 700 tons per day originally contemplated (please see RNS dated 29 July 2015)."
re AGM, yes no news yet; I am guessing that there are some board changes a foot (widely rumoured) which are probably being finalised; once that has happened I expect an AGM date to be announced as that will need shareholders to vote accordingly. imo
"My limited view which I have voiced does agree that shoats creek was never going to be the big draw and randy was happy to give up a little there for a cash flow and future funded drill program" blingybird - agreed. But the last recent RNS for Shoats Creek, although poorly written it gave us some very upbeat news about testing on LM14 gas; we are waiting to hear more but the with a revenue interest of around 53% on LM14, that could be a big figure for NCT share. RNS: "Lutcher Moore #14, (“LM#14) (Frio formation, Northcote 70% WI), now tested 40 bopd and 2.5 million cubic feet (gross) of natural gas production over 24 hours;" That equates (for LM14 gas only) 2.5 MMcf = 2500 Mcf * US$2.50 per Mcf = $6,250 per day = $2.3M x 52% revenue interest $1.18M (gross) to NCT. And more gaseous targets identified per RNS. Low cost workovers at Shoats Creek are beginning to show that a low risk, low cost high impact strategy is starting to pay off. And very nicely if tests = production.