is...long term investor
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Hey Scotttrader80
Our great CEO said we will be going underground in the 3rd Qt , the 3 rd Qt starts in about 3 weeks
vote your proxy people
with hold all votes for BOD
I did
man TGA look to be getting stronger by the day
I waiting on the drilling in the western desert and my guess thing will get hot then
JMHO and do your DD
I voted my proxy
I with held all votes for the board , i tired of all the excuses and delays of getting this mine open ,, i think this will be a great investment when we are up and running
JMHO and please do your DD
Got my proxy materials Saturday
will be voting soon and will with hold all votes for the board , i tired of the people not earning thjere biog paychecks
I bought more
Bought more this week and also a week or so ago
look to me like everyone waiting on the ECS news
as that a short attack or profit taking
Today
Per the company the last study is to be release before Qt end and then where ever the needed money come from will go underground in 3 qt ! Production starts 2019
Note i picked up 5 K more this morning
TGA on full breakout mode
up big again today !!
last sale $2.61
up 38 cents ==17 %
ECSIF / ECS.T
Had insider buys this week , i expecting news soon as the CEO bought warrants
TGA / TGL
Had another great week
TGA / TGL
just had a great CC , a must listen to
would be nice if we had
a few numbers to the left of that ZERO
RGO still have a long way to go
Guess just sit and see what happen
I loaded on several cheapies
DNDDF
RNSFF
IFR.V
ART.V
Tomorrow is the presentation
I can not find a link to a live feed
We just got a new member on BOD
Bet he loves that 500,000 stock options he just got
Dundee Sustainable Technologies Inc. Announces Appointment to the Board of Directors and Grant of Options
MONTREAL, April 30, 2018 (GLOBE NEWSWIRE) -- Dundee Sustainable Technologies Inc. (CSE:DST) is pleased to announce the appointment of Mr. John Lindsay P.Eng., to the Board of Directors. Mr. Lindsay brings significant technical and metallurgical experience to the Board.
John Lindsay is a Professional Engineer with over 30 years of experience in mining and holds a Bachelor of Science in Metallurgy from Strathclyde University in Glasgow, Scotland. Mr. Lindsay has been the Senior Vice President of Dundee Precious Metals, Projects since 2014. Previously, he was Vice-President, Capital Projects Execution with Barrick Gold Corp. Mr. Lindsay has held a variety of senior roles with SNC Lavalin Group Inc., AMEC Americas Limited and De Beers Consolidated Mines Ltd, where his accountabilities included metallurgical design, operations management and oversight and governance of major mining projects. He has served as an executive committee member of the Canadian Institute of Mining and Metallurgy, Toronto branch.
The Corporation also announces the grant of 500,000 stock options to a director. The options vest immediately, expire in five years and are exercisable at $0.10 per share.
About Dundee Sustainable Technologies, a company controlled by Dundee Corporation
The Corporation is engaged in the development and commercialization of environment-friendly technologies for the treatment of materials in the mining industry. Through the development of patented, proprietary processes, DST extracts precious and base metals from mineralized material, concentrates and tailings, while stabilizing contaminants such as arsenic, which could not otherwise be extracted or stabilized with conventional processes because of metallurgical issues or environmental considerations.
DST has filed, published and was granted patents for these processes in several countries.
FOR FURTHER INFORMATION PLEASE CONTACT:
Brian Howlett
President and CEO
Dundee Sustainable Technologies
Tel: (514) 866-6001 # 239
Cell: (647) 227-3035
info@dundeetechnologies.com
Thursday May 3 is the presentation
I would think the news would be released before the presentation , but one never knows about this management
Re::::I wouldn't be surprised if first cobalt attempts to buy ecobalt. They just took out us cobalt and first cobalt said they were looking at other operations in Idaho.
ROTFLMAO
Ecobalt has no debt son and the other fly by night companies are just blowing smoke out there rear end
GA/TGL just gave us another update
CALGARY, Alberta, April 27, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (TGL.TO) (TGA) (“TransGlobe” or the “Company”) announces an operations update for Egypt.
Operations Update Egypt
The Company has completed drilling the second South K-field development well at K-45 which was targeting the main Asl A sand in a crestal position in South K-field. The well was drilled to a total depth of 5,831 feet and encountered main Asl A sand approximately 66 feet structurally higher than the K-46 well and is structurally the highest well in South K-field Asl A & B pools. K-45 encountered an internally estimated 195 feet of net oil pay comprised of 120 feet of net oil pay in the Asl A pool (A1, A2 and A3), and 75 feet of net oil pay in the Asl B pool. The Company plans to initially complete the Asl B formation in K-45 and place the well on production in early May.
Following K-45, the drilling rig is scheduled to move to West Gharib and NW Gharib to drill Arta 54 and NWG 38A-3 respectively. Arta 54 is targeting the Nukhul/Red bed formation at the northern edge of the main Arta pool. The NWG 38A-3 well is planned as a water injection well to provide reservoir pressure support and enhanced recovery in the NWG 38 Red Bed pool. The first three wells drilled in the NWG 38 pool did not encounter a water leg and are currently producing at a combined, restricted rate of approximately 920 Bopd. It is expected that the current production rates will be optimized upon completion of the water injection scheme and stabilized reservoir pressures.
Following NWG 38A-3, the rig will return to the West Bakr concession and drill up to three development wells including two wells inside the recently negotiated reduced buffer zone targeting the M-field Asl A formation.
About TransGlobe
TransGlobe Energy Corporation is a Calgary-based, growth-oriented oil and gas exploration and development company whose current activities are concentrated in the Arab Republic of Egypt and Canada. TransGlobe’s common shares trade on the Toronto Stock Exchange under the symbol TGL and on the NASDAQ Exchange under the symbol TGA
Read more at http://www.stockhouse.com/companies/bullboard?symbol=t.tgl&postid=27948663#wcAw5FZYVO5XxDSZ.99CALGARY, Alberta, April 27, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (TGL.TO) (TGA) (“TransGlobe” or the “Company”) announces an operations update for Egypt.
Operations Update Egypt
The Company has completed drilling the second South K-field development well at K-45 which was targeting the main Asl A sand in a crestal position in South K-field. The well was drilled to a total depth of 5,831 feet and encountered main Asl A sand approximately 66 feet structurally higher than the K-46 well and is structurally the highest well in South K-field Asl A & B pools. K-45 encountered an internally estimated 195 feet of net oil pay comprised of 120 feet of net oil pay in the Asl A pool (A1, A2 and A3), and 75 feet of net oil pay in the Asl B pool. The Company plans to initially complete the Asl B formation in K-45 and place the well on production in early May.
Following K-45, the drilling rig is scheduled to move to West Gharib and NW Gharib to drill Arta 54 and NWG 38A-3 respectively. Arta 54 is targeting the Nukhul/Red bed formation at the northern edge of the main Arta pool. The NWG 38A-3 well is planned as a water injection well to provide reservoir pressure support and enhanced recovery in the NWG 38 Red Bed pool. The first three wells drilled in the NWG 38 pool did not encounter a water leg and are currently producing at a combined, restricted rate of approximately 920 Bopd. It is expected that the current production rates will be optimized upon completion of the water injection scheme and stabilized reservoir pressures.
Following NWG 38A-3, the rig will return to the West Bakr concession and drill up to three development wells including two wells inside the recently negotiated reduced buffer zone targeting the M-field Asl A formation.
About TransGlobe
TransGlobe Energy Corporation is a Calgary-based, growth-oriented oil and gas exploration and development company whose current activities are concentrated in the Arab Republic of Egypt and Canada. TransGlobe’s common shares trade on the Toronto Stock Exchange under the symbol TGL and on the NASDAQ Exchange under the symbol TGA
Read more at http://www.stockhouse.com/companies/bullboard?symbol=t.tgl&postid=27948663#wcAw5FZYVO5XxDSZ.99
Time to get TGA back up in the teens
I remember when it was about $18.00
TransGlobe Energy Corporation Announces Operations Update, Intention to List on the AIM, Pending Board Changes and Date of Annual and Special Meeting of Shareholders
TSX: “TGL” & NASDAQ: “TGA”
CALGARY, Alberta, April 16, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) provides an operations update, announces its intention to list its common stock on the London Stock Exchange’s AIM market and pending changes to the Board of Directors.
Q1 Highlights
• Company production for Q1-2018 was on plan averaging ~14,366 Boepd (~11,776 Bopd Egypt, ~2,590 Boepd Canada).
• Drilled a successful oil well at Arta 48 which will be placed on production in May following stimulation.
• Drilled a successful oil well at K-46 in the West Bakr South K-field with an estimated 96 feet of net oil pay in the Asl A and 15 feet of net oil pay in the Asl B.
• Currently drilling a second development well at K-45 South K field.
• Reached agreement with GPC to drill two additional wells in the M-field buffer-zone, which are expected to be drilled and put on production in late Q2 or Q3.
• Preparations for the 2018 Western Desert drilling program (5 exploration wells) are underway. Program expected to commence in June with two drilling rigs on NW Sitra.
• The 2018 Canadian drilling plan is targeting to commence drilling up to 8 (6 net) Cardium wells in July. This program could include a two-mile horizontal well to evaluate extended reach horizontals in the Harmattan area.
• Sold ~236 thousand barrels of crude oil to EGPC during Q1.
• Confirmed with EGPC four crude oil cargo liftings in 2018.
•The first cargo was scheduled to begin lifting in late March, but due to bad weather it was slightly delayed. On April 7th a total of ~452 thousand barrels were lifted and will be booked as a Q2 sale.
Production
Total Company production for the first quarter was on plan, averaging approximately 14,366 Boepd, comprised of 11,776 Bopd in Egypt (100% oil) and 2,590 Boepd in Canada (57% light oil and liquids).
Total Company production averaged 14,248 Boepd in March, comprised of 11,739 Bopd in Egypt (100% oil) and 2,509 Boepd in Canada (60% light oil and liquids).
Operations Update
In the Eastern Desert the K-46 development well drilled in March was initially completed in the Asl B zone to obtain a production rate prior to perforating the main Asl A formation. The Asl B produced approximately 45 Bopd from an internally estimated 15 feet of net oil pay overlying a water zone. The Asl A formations (A1, A2 and A3), which encountered an internally estimated 96 feet of net oil pay are scheduled for completion later this month.
The Company is currently drilling the second South K-field development well at K-45 targeting the main Asl A sand in the crestal position on the South K field. The Asl B sand is also expected to be encountered in K-45.
Following K-45, the drilling rig is scheduled to move to West Gharib and NW Gharib to drill Arta 54 and NWG 38A-3 respectively. Arta 54 is targeting the Nukhul/Red bed formation at the northern edge of the main Arta pool. The NWG 38A-3 well is planned as a water injection well to provide reservoir pressure support and enhanced recovery in the NWG 38 Red Bed pool. The first three wells drilled in the NWG 38 pool did not encounter a water leg and are currently producing at a combined, reduced rate of approximately 920 bopd. It is expected that the current production rates will be optimized upon completion of the water injection scheme and stabilized reservoir pressures.
Following NWG 38A-3, the rig will return to the West Bakr concession and drill up to three development wells including two wells inside the recently negotiated reduced buffer zone targeting the M-field Asl A formation.
Concurrently, the Company will be stimulating and completing two drilled and uncompleted wells (DUC’s) the NWG 1 and NWG 5 Development Areas (discovered in 2014), in addition to the West Gharib Arta 48 well currently awaiting stimulation. These NWG 1 and 5 wells encountered a tight Red Bed conglomerate sequence which requires stimulation to produce and are expected to produce at similar rates to TransGlobe's Arta Nukhul wells which typically have an initial 30 day production rate (IP 30) of 150-180 Bopd with ultimate recoveries of 120 -150 MBbls per well on primary production.
The Company also has an active recompletion campaign scheduled throughout the year, targeting low risk behind pipe opportunities in addition to water-flood optimization opportunities. The majority of these opportunities reside in the West Bakr K-field where the Company anticipates completion of Phase 2 and 3 of the K-field facility expansion to double/triple the current fluid handling capacity respectively. Concurrent with the K-field facility expansions the drilling rig was used to re-enter and deepen a legacy well (K-5) for water disposal. The K-5 water disposal well is scheduled for completion in late April/early May to handle additional planned water production from the expanded facilities. The expansion will allow for accelerated fluid withdrawal rates supporting incremental production volumes and additional reserves from both West Bakr K and M fields.
In the Western Desert the Company is preparing for the 2018 exploration drilling program expected to commence in the NW Sitra concession utilizing two drilling rigs in June. The larger (2,000 HP) drilling rig will drill NWS 12 targeting a stacked Cretaceous/Jurassic prospect. Subject to additional approvals, the larger rig can be moved to South Alamein to drill a Jurassic prospect following NWS 12. The smaller (~1,000 HP) drilling rig will drill NWS 9 targeting a stacked Cretaceous prospect. Following NWS 9, the rig will be moved to the South Ghazalat Concession to drill two independent stacked Cretaceous structures. The four, basin opening wells in NWS and S. Ghazalat could de-risk 13 of the 21 additional prospects currently mapped on 3-D seismic. No production is currently budgeted from the Western Desert exploration assets in 2018.
In Canada, the Company is preparing for a 3 to 4 week turnaround/maintenance program at the Company’s central oil processing battery and main natural gas compressor site. The work has been scheduled to coincide with a planned turnaround at the main natural gas processing plant in the Harmattan area which is operated by a third party. It is expected that the majority of the Canadian production will be shut-in during May due to this planned outage. The 2018 production guidance numbers include the planned turnaround.
In addition, the Company is finalizing the 2018 Cardium drilling program scheduled to commence in July. The 2018 Cardium development program of up to eight gross (six net) horizontal wells will be drilling from a common pad to improve efficiencies and reduce costs. The Company is planning to drill one two-mile extended reach horizontal (“ERH”) well to evaluate the performance of ERH wells in the Harmattan area. The remainder of the 2018 program will be one-mile horizontal wells.
AIM Listing
Beginning in early 2017, the Company undertook an extensive review of its existing stock market listings and its current and potential common share investors. The Company determined that its traditional North American investor base and liquidity has diminished significantly over the past six years, beginning with the Egyptian revolution in January of 2011 and continuing through the recent and prolonged downturn in oil prices from 2014 to 2017. Although oil prices have shown tangible and structural improvement over the past six to nine months the Company’s share price and liquidity have not responded to that improvement despite significant increases in profitability and funds flow. The Company concluded that a listing on the London Stock Exchange’s AIM market will provide access to a significant pool of specialist investors who currently do not have adequate access to TransGlobe’s common shares due to time-zone challenges and European market investment requirements. The Company also believes that a listing on the AIM market may eventually improve its profile by placing TransGlobe alongside many of its international E&P peers. This may attract European analyst coverage focused on international companies similar to TransGlobe.
TransGlobe has retained Canaccord Genuity as its nominated advisor (“NOMAD”) and preparations are at an advanced stage for an AIM Admission filing.
In further support of the listing on the AIM market, the Company intends to establish an executive office in London by September 2018.
Pending Board of Directors Changes
As part of TransGlobe’s succession plan, the Company is pleased to announce that Randy Neely will stand for election to the Board of Directors at the upcoming Annual and Special Meetings of Shareholders. Mr. Neely was recently promoted to President on January 8, 2018 after serving as the Company’s VP Finance and CFO since joining the Company in 2012. In order to make room for Mr. Neely, Mr. Lloyd Herrick, VP and COO will not stand for re-election this year. Mr. Herrick has served on the Board as a non-independent director since joining the Company in 1999 and will remain with the Company as VP and COO.
Annual and Special Meeting of the Shareholders
Date: Thursday May 10, 2018
Time: 3 PM MST
Location: 3rd floor, Centennial Place West, Bow River Room, 250 - 5th Street S.W., Calgary, Alberta Canada
TGA on a long slow climb
what will really move it is the western desert drilling , my guess what is going on now is Europe is starting to buy
Scott
I forgot to post the news , so here is the reading
eCobalt Ramps Up Pre-construction Activities At The Idaho Cobalt Project
T.ECS | 5 hours ago
Canada NewsWire
VANCOUVER, April 23, 2018
VANCOUVER, April 23, 2018 /CNW/ - eCobalt Solutions Inc. ("eCobalt" or "the Company") (TSX: ECS, OTCQX: ECSIF) is pleased to provide an update on progress made at its 100% owned Idaho Cobalt Project ("ICP") located near the town of Salmon, in the heart of the Idaho Cobalt Belt. The ICP remains the sole, near term primary cobalt deposit in the United States.
"As we prepare for underground mine development, capital raised from our recent financing is being deployed on pre-construction activities as planned," stated Paul Farquharson, President & CEO of eCobalt. "Delivery of the water treatment plant components has commenced, and we have awarded contracts to construct the plant starting in May. This fulfills an integral part of our approved Plan of Operations, and our commitment to sustainable water management at the ICP for the long-term benefit of the region, the environment and the communities in which we operate."
The water treatment plant, designed and supplied by Veolia Water Technologies, Inc. ("Veolia"), will treat water from the underground mine and runoff from the dry stacked tailings facility prior to discharge in accordance with the ICP's National Pollutant Discharge Elimination System ("NPDES") permit. The water treatment plant utilizes advanced treatment processes for metals and nitrogen removal in a compact footprint. Water discharged will meet all of the requirements of the permit and will help protect water quality in the basin. Engineering of the water treatment plant is complete with components en route to the ICP in preparation for commencement of construction.
Additional progress highlights at the ICP include:
Construction contracts have been awarded for the water management ponds; building pads for the concentrator, mill and water treatment plant; QA/QC for all earth work and concrete; fuel island; gravel haul; and potable water wells.
Engineering for the roaster design in the optimized feasibility study is progressing based on data gained from pilot tests being conducted with Dundee Sustainable Technologies.
Additional surface construction support equipment is being delivered to the site.
Transition from Pre-Construction environmental monitoring to the Operational Monitoring schedule has begun.
To transition the ICP to construction and prepare for operations, environmental systems, warehouse expansion and health and safety plans are being updated, as well as hiring for several integral roles, including mine manager, superintendents and metallurgists. Over the course of the coming weeks, pre-construction activities will continue to progress in preparation for full construction ramp up in the summer of 2018.
About eCobalt Solutions Inc.
eCobalt is a well-established Toronto Stock Exchange listed company committed to providing clean cobalt products essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. The Company's Idaho Cobalt Project, located in East Central Idaho, is the only environmentally permitted, primary cobalt project in the United States. It is 100% owned by the Company's wholly owned subsidiary, Formation Capital Corporation, U.S.
For more information visit www.eCobalt.com.
Read more at http://www.stockhouse.com/news/press-releases/2018/04/23/ecobalt-ramps-up-pre-construction-activities-at-the-idaho-cobalt-project#KeGsfAa6iFHRtwrZ.99
Look like the new management is getting this stock moving
I lost enough money with them other deadbeats
should be getting update on new wells soon
Good guess all should be frac and ready for production
This company will be using the arsenic roasting process
another thing Dundee Corp is also a big holder of ECS but not as big as DST holding witch i hear is 75 % of the stock
12 April 2018
comments
share
Spurred by the surging price of the metal, on the back of already tightening supply, eCobalt has channelled new and longstanding global investor support to rapidly advance work on a number of fronts and get the only permitted US cobalt mine ready to move forward into full commercial production in 2020.
The company's optimized feasibility study (OFS), due for release this quarter, is focused on process and cost optimization but also maximizing offtake opportunities from production of a clean cobalt concentrate from the Idaho Cobalt Project (ICP), a change from the earlier emphasis on more refined output.
The ICP is wholly-owned by eCobalt's US subsidiary, Formation Capital Corporation.
"Strong demand and changing dynamics has presented us with alternative upstream product opportunities to evaluate that can potentially result in optimization of the flowsheet at the company's Cobalt Production Facility [CPF; at Blackfoot, Idaho], and its operating and capital costs," says eCobalt president and CEO Paul Farquharson.
Speaking with RESOURCEStocks ahead of the OFS release, Farquharson says the company's 2017 feasibility study provided a strong platform on which to launch the proposed US$187 million Idaho Cobalt Project's (ICP) final pre-production phase. That study showed a pre-tax NPV of US$136 million (using a 7.5% discount rate) and plus-21% IRR could be generated with cobalt at $26.65/lb - a price now well back in the rear-view mirror - and the average life-of-mine net cash costs for cobalt from the Idaho concentrator at circa US$5/lb.
At $35/lb cobalt, which will produce about 75% of ICP's revenue, the project has a $245 million NPV and 31% IRR. Add $14.4 million to after-tax NPV and 1.3% to IRR with every $1/lb gain in the cobalt price and it's no wonder eCobalt's project has become the world's standout primary cobalt producer in waiting.
If it was currently producing its initial circa-2,000 tonnes per annum of cobalt, with planned copper and gold by-products, ICP would be generating a handsome US$68 million a year of free cash flow and about $90 million EBITDA, based on the 2017 feasibility numbers forecast for the first few years when high-grade zones are being mined.
And cobalt (and copper and gold) prices are not the only things changing this outlook for the better.
Under proposed changes to US corporate tax rates, eCobalt is set to pay about 21% less tax during the life of the ICP than previously expected.
The company is seeing significant opportunities for capital and operating cost improvements in mine and processing optimization work in progress, while an additional five million pounds of cobalt in the recently announced revised resource model is expected to bolster the new reserve model in the OFS.
Farquharson says work on the OFS has it on track for delivery this quarter.
"We are working with Micon and SNC, so things are moving along well," he says.
"We also now have our equipment supplier present at the pilot tests so all input for manufacture of equipment will happen in a timely manner as well."
Concurrent with the reserve modelling (on the back of 2016-17 drilling results), eCobalt is fine-tuning its mine planning which is now focused on the use of the cut-and-fill method, instead of the long-hole stoping first envisaged, to extract 8m-by-15m stope blocks (versus 30m-by-100m earlier), which will have a major impact on dilution levels and the type (higher grade) and predictability (better) of ore being delivered to the mill.
Farquharson says the use of a sweeping ramp instead of a spiral decline will also favourably impact mine access and haulage economics and safety, while eCobalt's focus on producing clean cobalt concentrate rather than the cobalt sulphate heptahydrate in the 2017 FS should simplify its process flow sheet, further de-risking the project.
The previous study had the ICP 800tpd underground mine producing an average 2.4 million lb of cobalt per annum, 3.3Mlbpa of copper and 3,000ozpa of gold over a 12.5 year mine life, with that projected life only based on eCobalt's Ram deposit, near Salmon in central Idaho. The company has effectively only explored about 7% of its total claims on the Idaho Cobalt Belt, while the Ram resource remains open at depth and along strike. Drilling will continue from underground.
At least a dozen known targets exist elsewhere on eCobalt's considerable land package, including areas where historic drilling has returned intercepts with grades higher than the cut-off grade for the Ram deposit.
Farquharson says the recent feasibility study "fundamentally de-risks" the project, while the optimization study results will open the door to final project financing and product offtake talks.
"We have been receiving strong interest for offtake from various parties across the battery and cobalt supply chain since the release of the economic results of the feasibility study in addition to advancing discussions with the parties that we have engaged over the past year," he says.
"But cobalt's use in a number of growing markets - from superalloys to medicine - means there is interest from a wide range of parties in a clean cobalt concentrate product and we are talking to all these parties, not just those in the battery supply chain.
"Producing a more upstream, less refined product opens up numerous avenues for revenue generation from our production."
Farquharson says eCobalt has hosted multiple parties on site as part of recent due diligence activities.
"Discussions are ongoing. [Site visitors] are in the data room reviewing the FS and bench-scale tests."
eobalt president and aul arquharson
eCobalt president and CEO Paul Farquharson
The tests successfully removed 99% of arsenic from Ram underground material.
"Pilot level tests are currently underway, results from which will be released in the next few weeks," Farquharson says.
"We're in a fortunate position with a lot of interest for our product, and we're taking a cautious approach to ensure the deal we commit to is one that will benefit the company and shareholders over the long term."
With some sort of offtake deal sure to be part of eCobalt's ICP financing mix, the company is also nearing key decisions on full project finance.
"When we release the OFS in Q2 this document will be the basis for our production decision and we will be able to then determine the best financing structure for the long term success of the project," Farquharson says.
"In addition to putting together the financing structure, throughout the spring and summer we will be completing all environmental systems so that we can commence underground development in Q318.
"We have the main permits in hand which are the Record of Decision approving the plan of operations and the water discharge NPDES permit. All other permits are applications that are made when we ramp up from pre-construction to construction, such as road use, building permit, etc. These are relatively straightforward permits to obtain and are more administrative in nature.
"The major permits are already in place."
The company recently raised about C$30 million of equity funding via a successful raise that drew significant interest from institutional level investors in North America, Australia, Europe and Asia. It is fully funded through its pre-development phase.
With cobalt prices recently surging past 10-year highs, higher asset values in the sector have been reflected in a range of transactions over the past 12 months. High-quality, primary cobalt producers in safe, stable jurisdictions are a rarity in the space.
eCobalt has already spent more than US$120 million advancing the ICP to its current stage. Now it has assembled a formidable technical and site leadership group.
All of which puts a question mark next to eCobalt's recent share-price gyrations, which have seen it touch a low of C$1.26 this year after opening 2018 at $2.07. It's currently trading around $1.40.
Farquharson isn't overly concerned.
"We're seeing typical share price behaviour," he says.
"A decrease when an equity financing is announced, and as we are finalizing the OFS - the market is waiting for those details.
"We have several milestones coming up as we move towards production, [including] results from the pilot tests, the new OFS, equipment being delivered to site such as the water treatment plant and finalizing off-take agreements.
"That will hopefully contribute to a proper valuation of the company in the market.
"The demand for cobalt continues to grow.
"Automotive companies such as Volkswagen and BMW have recently announced their intent to source cobalt from the producers themselves to secure future supply.
"Major cobalt producers such as Glencore recently announced ramping up cobalt production. But even doubling their current cobalt production would not meet expected electric vehicle demand.
"World mine production of cobalt in 2016 was estimated to be 123,000 tonnes. Glencore estimated that at least 285,000t of additional cobalt production would be required to make 30% of new vehicles electric by 2030."
Look like the CEO is doing some pumping
12 April 2018
comments
share
Spurred by the surging price of the metal, on the back of already tightening supply, eCobalt has channelled new and longstanding global investor support to rapidly advance work on a number of fronts and get the only permitted US cobalt mine ready to move forward into full commercial production in 2020.
The company's optimized feasibility study (OFS), due for release this quarter, is focused on process and cost optimization but also maximizing offtake opportunities from production of a clean cobalt concentrate from the Idaho Cobalt Project (ICP), a change from the earlier emphasis on more refined output.
The ICP is wholly-owned by eCobalt's US subsidiary, Formation Capital Corporation.
"Strong demand and changing dynamics has presented us with alternative upstream product opportunities to evaluate that can potentially result in optimization of the flowsheet at the company's Cobalt Production Facility [CPF; at Blackfoot, Idaho], and its operating and capital costs," says eCobalt president and CEO Paul Farquharson.
Speaking with RESOURCEStocks ahead of the OFS release, Farquharson says the company's 2017 feasibility study provided a strong platform on which to launch the proposed US$187 million Idaho Cobalt Project's (ICP) final pre-production phase. That study showed a pre-tax NPV of US$136 million (using a 7.5% discount rate) and plus-21% IRR could be generated with cobalt at $26.65/lb - a price now well back in the rear-view mirror - and the average life-of-mine net cash costs for cobalt from the Idaho concentrator at circa US$5/lb.
At $35/lb cobalt, which will produce about 75% of ICP's revenue, the project has a $245 million NPV and 31% IRR. Add $14.4 million to after-tax NPV and 1.3% to IRR with every $1/lb gain in the cobalt price and it's no wonder eCobalt's project has become the world's standout primary cobalt producer in waiting.
If it was currently producing its initial circa-2,000 tonnes per annum of cobalt, with planned copper and gold by-products, ICP would be generating a handsome US$68 million a year of free cash flow and about $90 million EBITDA, based on the 2017 feasibility numbers forecast for the first few years when high-grade zones are being mined.
And cobalt (and copper and gold) prices are not the only things changing this outlook for the better.
Under proposed changes to US corporate tax rates, eCobalt is set to pay about 21% less tax during the life of the ICP than previously expected.
The company is seeing significant opportunities for capital and operating cost improvements in mine and processing optimization work in progress, while an additional five million pounds of cobalt in the recently announced revised resource model is expected to bolster the new reserve model in the OFS.
Farquharson says work on the OFS has it on track for delivery this quarter.
"We are working with Micon and SNC, so things are moving along well," he says.
"We also now have our equipment supplier present at the pilot tests so all input for manufacture of equipment will happen in a timely manner as well."
Concurrent with the reserve modelling (on the back of 2016-17 drilling results), eCobalt is fine-tuning its mine planning which is now focused on the use of the cut-and-fill method, instead of the long-hole stoping first envisaged, to extract 8m-by-15m stope blocks (versus 30m-by-100m earlier), which will have a major impact on dilution levels and the type (higher grade) and predictability (better) of ore being delivered to the mill.
Farquharson says the use of a sweeping ramp instead of a spiral decline will also favourably impact mine access and haulage economics and safety, while eCobalt's focus on producing clean cobalt concentrate rather than the cobalt sulphate heptahydrate in the 2017 FS should simplify its process flow sheet, further de-risking the project.
The previous study had the ICP 800tpd underground mine producing an average 2.4 million lb of cobalt per annum, 3.3Mlbpa of copper and 3,000ozpa of gold over a 12.5 year mine life, with that projected life only based on eCobalt's Ram deposit, near Salmon in central Idaho. The company has effectively only explored about 7% of its total claims on the Idaho Cobalt Belt, while the Ram resource remains open at depth and along strike. Drilling will continue from underground.
At least a dozen known targets exist elsewhere on eCobalt's considerable land package, including areas where historic drilling has returned intercepts with grades higher than the cut-off grade for the Ram deposit.
Farquharson says the recent feasibility study "fundamentally de-risks" the project, while the optimization study results will open the door to final project financing and product offtake talks.
"We have been receiving strong interest for offtake from various parties across the battery and cobalt supply chain since the release of the economic results of the feasibility study in addition to advancing discussions with the parties that we have engaged over the past year," he says.
"But cobalt's use in a number of growing markets - from superalloys to medicine - means there is interest from a wide range of parties in a clean cobalt concentrate product and we are talking to all these parties, not just those in the battery supply chain.
"Producing a more upstream, less refined product opens up numerous avenues for revenue generation from our production."
Farquharson says eCobalt has hosted multiple parties on site as part of recent due diligence activities.
"Discussions are ongoing. [Site visitors] are in the data room reviewing the FS and bench-scale tests."
eobalt president and aul arquharson
eCobalt president and CEO Paul Farquharson
The tests successfully removed 99% of arsenic from Ram underground material.
"Pilot level tests are currently underway, results from which will be released in the next few weeks," Farquharson says.
"We're in a fortunate position with a lot of interest for our product, and we're taking a cautious approach to ensure the deal we commit to is one that will benefit the company and shareholders over the long term."
With some sort of offtake deal sure to be part of eCobalt's ICP financing mix, the company is also nearing key decisions on full project finance.
"When we release the OFS in Q2 this document will be the basis for our production decision and we will be able to then determine the best financing structure for the long term success of the project," Farquharson says.
"In addition to putting together the financing structure, throughout the spring and summer we will be completing all environmental systems so that we can commence underground development in Q318.
"We have the main permits in hand which are the Record of Decision approving the plan of operations and the water discharge NPDES permit. All other permits are applications that are made when we ramp up from pre-construction to construction, such as road use, building permit, etc. These are relatively straightforward permits to obtain and are more administrative in nature.
"The major permits are already in place."
The company recently raised about C$30 million of equity funding via a successful raise that drew significant interest from institutional level investors in North America, Australia, Europe and Asia. It is fully funded through its pre-development phase.
With cobalt prices recently surging past 10-year highs, higher asset values in the sector have been reflected in a range of transactions over the past 12 months. High-quality, primary cobalt producers in safe, stable jurisdictions are a rarity in the space.
eCobalt has already spent more than US$120 million advancing the ICP to its current stage. Now it has assembled a formidable technical and site leadership group.
All of which puts a question mark next to eCobalt's recent share-price gyrations, which have seen it touch a low of C$1.26 this year after opening 2018 at $2.07. It's currently trading around $1.40.
Farquharson isn't overly concerned.
"We're seeing typical share price behaviour," he says.
"A decrease when an equity financing is announced, and as we are finalizing the OFS - the market is waiting for those details.
"We have several milestones coming up as we move towards production, [including] results from the pilot tests, the new OFS, equipment being delivered to site such as the water treatment plant and finalizing off-take agreements.
"That will hopefully contribute to a proper valuation of the company in the market.
"The demand for cobalt continues to grow.
"Automotive companies such as Volkswagen and BMW have recently announced their intent to source cobalt from the producers themselves to secure future supply.
"Major cobalt producers such as Glencore recently announced ramping up cobalt production. But even doubling their current cobalt production would not meet expected electric vehicle demand.
"World mine production of cobalt in 2016 was estimated to be 123,000 tonnes. Glencore estimated that at least 285,000t of additional cobalt production would be required to make 30% of new vehicles electric by 2030."
This is great news , look at the royalty
You can do the math on just this one project !!
Dundee Sustainable Technologies announces a Letter of Intent for the sale of a license for the Snow Lake tailings
MONTREAL, April 17, 2018 (GLOBE NEWSWIRE) -- Dundee Sustainable Technologies Inc. (“DST or the Corporation”) (CSE:DST) is pleased to announce that it has signed a letter of intent (“LOI”) with GMR Inc. (“GMR”) for the sale of a license to utilize DST’s proprietary gold recovery and arsenic vitrification technology (“DST Technologies”) on the Snow Lake tailings project (the “Project”).
Through this agreement, DST received a $20,000 cash payment as an advance on right to utilise the DST Technologies on the Project. In addition, DST will earn 5% equity interest in the net income of the project. All metallurgical test work associated to the evaluation of the Project will be conducted under service contract agreements with GMR by DST at its technical facilities in Thetford Mines.
Mr. Brian Howlett stated, “This provides the Corporation with an additional project in its pipeline of future users of its pyrolysis and arsenic vitrification process. DST is looking forward to working with GMR to first sample and then complete a several tonne bulk sample. DST’s goal is to prove that it can extract and vitrify the arsenic to ultimately create a clean concentrate that can be sold to the market.”
Mr. David LeClaire, the CEO of GMR Inc. stated, “GMR believes that significant value can be extracted from these tailing which contain significant amounts of gold associated with a very high arsenic content.”
The Project is located in Snow Lake, Manitoba and consists of arsenopyrite tailings known to contain residual gold and silver contents. The tailings pile is currently controlled by the Government of Manitoba. The Project is proposing a "no cost to the taxpayer" deal in return for the removal and stabilization of the arsenic, GMR could keep the recovered metals for its own account. Historic resource estimates were generated in 2012 estimating the Snow Lake tailings to contain 264,596 tonnes grading 9.76 g/t of gold and 2.17 g/t of silver. (All historical resources are categorized as Inferred resources using the meaning ascribed to that term by the Canadian Institute of Mining (CIM), due to the uncertainty which may attach to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resources will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and DST is not treating the historical resources as current mineral resources. Confidence in the historical estimates is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability
People
pay attention to this stock , will be drilling some very interesting wells in the western desert in Egypt !!! This is where the big boys are so could be some big hits
TGA/TGL gave a update
TransGlobe Energy Corporation Announces Operations Update, Intention to List on the AIM, Pending Board Changes and Date of Annual and Special Meeting of Shareholders
T.TGL | 1 day ago
CALGARY, Alberta, April 16, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) provides an operations update, announces its intention to list its common stock on the London Stock Exchange’s AIM market and pending changes to the Board of Directors.
Q1 Highlights
• Company production for Q1-2018 was on plan averaging ~14,366 Boepd (~11,776 Bopd Egypt, ~2,590 Boepd Canada).
• Drilled a successful oil well at Arta 48 which will be placed on production in May following stimulation.
• Drilled a successful oil well at K-46 in the West Bakr South K-field with an estimated 96 feet of net oil pay in the Asl A and 15 feet of net oil pay in the Asl B.
• Currently drilling a second development well at K-45 South K field.
• Reached agreement with GPC to drill two additional wells in the M-field buffer-zone, which are expected to be drilled and put on production in late Q2 or Q3.
• Preparations for the 2018 Western Desert drilling program (5 exploration wells) are underway. Program expected to commence in June with two drilling rigs on NW Sitra.
• The 2018 Canadian drilling plan is targeting to commence drilling up to 8 (6 net) Cardium wells in July. This program could include a two-mile horizontal well to evaluate extended reach horizontals in the Harmattan area.
• Sold ~236 thousand barrels of crude oil to EGPC during Q1.
• Confirmed with EGPC four crude oil cargo liftings in 2018.
The first cargo was scheduled to begin lifting in late March, but due to bad weather it was slightly delayed. On April 7th a total of ~452 thousand barrels were lifted and will be booked as a Q2 sale.
Production
Total Company production for the first quarter was on plan, averaging approximately 14,366 Boepd, comprised of 11,776 Bopd in Egypt (100% oil) and 2,590 Boepd in Canada (57% light oil and liquids).
Total Company production averaged 14,248 Boepd in March, comprised of 11,739 Bopd in Egypt (100% oil) and 2,509 Boepd in Canada (60% light oil and liquids).
Operations Update
In the Eastern Desert the K-46 development well drilled in March was initially completed in the Asl B zone to obtain a production rate prior to perforating the main Asl A formation. The Asl B produced approximately 45 Bopd from an internally estimated 15 feet of net oil pay overlying a water zone. The Asl A formations (A1, A2 and A3), which encountered an internally estimated 96 feet of net oil pay are scheduled for completion later this month.
The Company is currently drilling the second South K-field development well at K-45 targeting the main Asl A sand in the crestal position on the South K field. The Asl B sand is also expected to be encountered in K-45.
Following K-45, the drilling rig is scheduled to move to West Gharib and NW Gharib to drill Arta 54 and NWG 38A-3 respectively. Arta 54 is targeting the Nukhul/Red bed formation at the northern edge of the main Arta pool. The NWG 38A-3 well is planned as a water injection well to provide reservoir pressure support and enhanced recovery in the NWG 38 Red Bed pool. The first three wells drilled in the NWG 38 pool did not encounter a water leg and are currently producing at a combined, reduced rate of approximately 920 bopd. It is expected that the current production rates will be optimized upon completion of the water injection scheme and stabilized reservoir pressures.
Following NWG 38A-3, the rig will return to the West Bakr concession and drill up to three development wells including two wells inside the recently negotiated reduced buffer zone targeting the M-field Asl A formation.
Concurrently, the Company will be stimulating and completing two drilled and uncompleted wells (DUC’s) the NWG 1 and NWG 5 Development Areas (discovered in 2014), in addition to the West Gharib Arta 48 well currently awaiting stimulation. These NWG 1 and 5 wells encountered a tight Red Bed conglomerate sequence which requires stimulation to produce and are expected to produce at similar rates to TransGlobe's Arta Nukhul wells which typically have an initial 30 day production rate (IP 30) of 150-180 Bopd with ultimate recoveries of 120 -150 MBbls per well on primary production.
The Company also has an active recompletion campaign scheduled throughout the year, targeting low risk behind pipe opportunities in addition to water-flood optimization opportunities. The majority of these opportunities reside in the West Bakr K-field where the Company anticipates completion of Phase 2 and 3 of the K-field facility expansion to double/triple the current fluid handling capacity respectively. Concurrent with the K-field facility expansions the drilling rig was used to re-enter and deepen a legacy well (K-5) for water disposal. The K-5 water disposal well is scheduled for completion in late April/early May to handle additional planned water production from the expanded facilities. The expansion will allow for accelerated fluid withdrawal rates supporting incremental production volumes and additional reserves from both West Bakr K and M fields.
In the Western Desert the Company is preparing for the 2018 exploration drilling program expected to commence in the NW Sitra concession utilizing two drilling rigs in June. The larger (2,000 HP) drilling rig will drill NWS 12 targeting a stacked Cretaceous/Jurassic prospect. Subject to additional approvals, the larger rig can be moved to South Alamein to drill a Jurassic prospect following NWS 12. The smaller (~1,000 HP) drilling rig will drill NWS 9 targeting a stacked Cretaceous prospect. Following NWS 9, the rig will be moved to the South Ghazalat Concession to drill two independent stacked Cretaceous structures. The four, basin opening wells in NWS and S. Ghazalat could de-risk 13 of the 21 additional prospects currently mapped on 3-D seismic. No production is currently budgeted from the Western Desert exploration assets in 2018.
In Canada, the Company is preparing for a 3 to 4 week turnaround/maintenance program at the Company’s central oil processing battery and main natural gas compressor site. The work has been scheduled to coincide with a planned turnaround at the main natural gas processing plant in the Harmattan area which is operated by a third party. It is expected that the majority of the Canadian production will be shut-in during May due to this planned outage. The 2018 production guidance numbers include the planned turnaround.
In addition, the Company is finalizing the 2018 Cardium drilling program scheduled to commence in July. The 2018 Cardium development program of up to eight gross (six net) horizontal wells will be drilling from a common pad to improve efficiencies and reduce costs. The Company is planning to drill one two-mile extended reach horizontal (“ERH”) well to evaluate the performance of ERH wells in the Harmattan area. The remainder of the 2018 program will be one-mile horizontal wells.
AIM Listing
Beginning in early 2017, the Company undertook an extensive review of its existing stock market listings and its current and potential common share investors. The Company determined that its traditional North American investor base and liquidity has diminished significantly over the past six years, beginning with the Egyptian revolution in January of 2011 and continuing through the recent and prolonged downturn in oil prices from 2014 to 2017. Although oil prices have shown tangible and structural improvement over the past six to nine months the Company’s share price and liquidity have not responded to that improvement despite significant increases in profitability and funds flow. The Company concluded that a listing on the London Stock Exchange’s AIM market will provide access to a significant pool of specialist investors who currently do not have adequate access to TransGlobe’s common shares due to time-zone challenges and European market investment requirements. The Company also believes that a listing on the AIM market may eventually improve its profile by placing TransGlobe alongside many of its international E&P peers. This may attract European analyst coverage focused on international companies similar to TransGlobe.
TransGlobe has retained Canaccord Genuity as its nominated advisor (“NOMAD”) and preparations are at an advanced stage for an AIM Admission filing.
In further support of the listing on the AIM market, the Company intends to establish an executive office in London by September 2018.
Pending Board of Directors Changes
As part of TransGlobe’s succession plan, the Company is pleased to announce that Randy Neely will stand for election to the Board of Directors at the upcoming Annual and Special Meetings of Shareholders. Mr. Neely was recently promoted to President on January 8, 2018 after serving as the Company’s VP Finance and CFO since joining the Company in 2012. In order to make room for Mr. Neely, Mr. Lloyd Herrick, VP and COO will not stand for re-election this year. Mr. Herrick has served on the Board as a non-independent director since joining the Company in 1999 and will remain with the Company as VP and COO.
Annual and Special Meeting of the Shareholders
Date: Thursday May 10, 2018
Time: 3 PM MST
Location: 3rd floor, Centennial Place West, Bow River Room, 250 - 5th Street S.W., Calgary, Alberta Canada
About TransGlobe
Watching the market
My guess we get a draw on crude inventory tomorrow
Hey easy
I have been banded for a week on the other board , just got the notice
People wake up
obama upped our debt by about 10 trillion dollars , you people are either obama ducks or hillary email hacks in prison ! Now we have the stupid democrats bitching about the national debt that is project to raise by about 1.5 trillion in 10 years ! All obama did was creat a big welfare system and millions of dead beats
Matrix999
witch post are you refering to
Hey Starbucks
Tell the history of the store that is in the news !!
Tell the people about the bad robbery at that store last week !
While your at it stick Starbucks up your ass
DesertDrifter
Where have you been the last two years ! My guess had your head up obama and hillarys ass ! Wake up and wipe your nose and wash you eyes out and look around , people are returning to work except the welfare bums and the obama illegals
BullNBear52
Hillary thought she could get away with it , but she got caught !!!! She is guilty and she is responsable for alot of the mideast trouble
hillary
She did top secret stuff on her personal computer and then lied about it and then destroyed the everything ! This was treason period and we have excuited for less crimes so get that dam rope
I will keep my Huntington bank account
I pay no service charges , no mim balance and get free bill pay to boot , as for overdraft read and weep