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I guess the market didn't like the technical report?
Trillion Energy Acquired “The Best Oil Property I’ve Come Across in My Career” says CEO Art Halleran
https://www.miningstockeducation.com/2023/08/trillion-energy-acquired-the-best-oil-property-ive-come-across-in-my-career-says-ceo-art-halleran/
Gold Royalty Announces Acquisition of Royalty Over Capstone’s Producing Copper-Silver Cozamin Mine
Vancouver, British Columbia – July 31, 2023 – Gold Royalty Corp. (NYSE American: GROY) ("Gold Royalty" or the "Company") is pleased to announce that it has entered into an agreement (the "Agreement") to acquire an existing 1.0% net smelter return (“NSR”) royalty (the “Royalty”) from Endeavour Silver Corp. (“Endeavour”) on portions of the Cozamin Copper-Silver Mine, located in Zacatecas, Mexico, (“Cozamin”) for total cash consideration of US$7.5 million. Cozamin is owned and operated by Capstone Copper Corp. ("Capstone").
The Company also announces that it expects that, with the completion of the proposed acquisition, its board of directors will suspend dividends under its previously announced dividend program to focus capital on executing its strategic priority of growing cash flow and net asset value per share through accretive acquisitions.
David Garofalo, Chairman and CEO of Gold Royalty commented, “The acquisition of the Cozamin royalty brings immediate cash flow, complementing our peer-leading revenue growth rate from our portfolio of high-quality, long-life North American assets. Capstone is an experienced and proven operator and we are excited to see them continue to deliver strong operating and exploration results at Cozamin for years to come. We currently expect to be generating positive free cash flow in 2024 with, among other things, the addition of Cozamin, the Côté Gold Project on track to enter production early next year, and corporate overhead costs continuing to decrease.”
Acquisition Highlights:
Cozamin is an established, low-cost operating copper-silver mine which has been in production since 2006 and has a history of exploration success and mine life extensions;
The Royalty generated revenue of over US$1.0 million over the last year and is expected to add meaningful cash flow to Gold Royalty going forward, along with leverage to increasing copper and silver prices during the life of mine;
Capstone published an updated National Instrument I 43-101 ("NI 43-101") technical report for Cozamin in May 2023 which outlined a life of mine plan extending to 2030 based only on mineral reserves1;
The Royalty covers two concessions over the Calicanto vein at Cozamin. As part of the transaction, Gold Royalty has been granted the option to acquire additional royalties on five contiguous concessions to the south of the Royalty for consideration of up to US$500,000.
The Company intends to fund the transaction through its existing cash and cash equivalents.
1 Based on the NI 43-101 Technical Report titled “NI 43-101 Technical Report on the Cozamin Mine, Zacatecas, Mexico” prepared for Capstone Copper Corp. with an effective date of January 1, 2023, a copy of which is available under Capstone’s profile at www.sedar.com (the "Cozamin Report") . C1 cash costs per payable pound of copper produced is a measure reflective of operating costs per unit. Capstone calculates C1 cash costs as cash production costs of metal produced net of by-product credits.
The Cozamin Royalty
Cozamin is a copper-silver underground mine with a surface milling facility, located 3.6 km north-northwest of Zacatecas City in the mineral-rich state of Zacatecas, Mexico. Since the first full year of operation, Cozamin has generated free cash flow at all points of the copper price cycle.
Cozamin has been continuously operated by Capstone since late 2006, when it commenced commercial production at a rate of 1,000 tonnes per day. At the time, it had a three-year mine life based upon then existing mineral reserves. Since then, successful exploration has extended the expected life of the mine to 2030 based on existing mineral reserves1.
From 2023 to 2030, average annual production is currently forecasted by Capstone at 20,000 tonnes of copper and 1.3 million ounces of silver at average C1 costs of US$1.51 per payable pound of copper. Between 2023 to 2027, average projected annual production is expected by Capstone to be higher at 24,000 tonnes of copper and 1.7 million ounces of silver, at lower average projected C1 costs of US$1.46 per payable pound of copper1.
Capstone announced on February 1, 2023 that it plans to update its mine plan in 2024 to introduce cut-and-fill mining, which it expects will allow it to convert additional resources to reserves and provide a pathway to increase production at the mine to better utilize the installed mill capacity of 4,400 tonnes per day.
The Royalty was created under a 2017 concession division agreement between Endeavour and Capstone, under which, among other things, if Capstone outlined a primarily base metals mineral resource estimate (defined as >60% of NSR value) on certain concessions owned by Endeavour, it would grant Endeavour a 1% NSR royalty on such concessions. The Royalty applies to two concessions (Calicanto and Vicochea) where the base metals threshold was met. Gold Royalty has also been granted an option by Endeavour to acquire a 1% NSR royalty on five additional concessions if such royalties are granted in the future. Pursuant to the option, Gold Royalty would acquire such royalties, subject to existing rights of first refusal held by Capstone, in exchange for US$300,000, in the case of the Mise concession and US$50,000 in the case of each other concession, which amount may, at the option of Gold Royalty, be satisfied by issuing Gold Royalty common shares.
The acquisition of the Royalty is subject to customary conditions and is currently expected to be completed in August 2023.
Figure 1: Plan view map superimposing the Endeavour concessions and an aerial photograph of the existing mine workings (Reference: Capstone Endeavour Division Agreement)
Trillion Announces Farm-In for Oil Exploration Blocks S.E. Turkiye
Oil blocks located in Cudi-Gabar Oil Petroleum Province proximate to recent discoveries.
July 31, 2023 - Vancouver, B.C. - Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce it has entered into a farm-in agreement with Derkim Poliüretan Sanayi ve Ticaret A.S. to earn a 50% working & revenue interest in three oil exploration blocks (the “Oil Blocks”) comprised of 151,484 hectares (374,325 acres) within the newly defined Cudi-Gabar petroleum province, Southeastern Turkiye. To earn the 50% the Company must acquire 351 km of 2D seismic in 2023 and drill 4 wells in 2024.
The Cudi-Gabar province is central to an active petroleum system extending up from Iraq and Syria, where Turkiye’s portion contains several major oil fields including Sehit Esma Cevik, discovered in 2022 and Sehit Aybuke Yalcin, discovered in 2023.
The Eastern Block (BlockM47C3, C4) is approximately 15 km by 30 km in size and is approximately 12km from the newly discovered Sehit Aybuke Yalcin Oil Field at Mount Gabar, which contains a reported 1 billion barrels Original Oil in Place (“OOIP”)[1] based on a discovery well which encountered a 162 meter thick reservoir with 41 API gravity oil. The Sehit Aybuke Yalcin Oil Field currently produces 10,000 barrels of oil per day (“bopd”) which has been targeted to rise to 100,000 bopd1. The Eastern Block is also 11 km from the Sehit Esma Cevik Oil Field, which contains a reported 250 million barrels OOIP[2]. The Sehit Esma Cevik Oil Field discovery was announced in December 2022 at which time 5 wells were producing 5,350 bopd and has been reported in May 2023 to be producing about 10,000 bopd (2).
Blocks M46C,D (the “Western Blocks”) farm-in are a combined area of approximately 30 km by 60 km and located approximately 30 kilometers west of the Eastern Block. The northern boundary of the Western Blocks is approximately 5 kilometers distance from the Raman Oil Field discovered in 1940 and which contains a reported initial 615 million barrels of OOIP[3]. The West Raman Oil field discovered in 1961 initially contained a reported 1.85 billion barrels of OOIP with peak production of 13,000 bopd(3). Additionally, there are numerous other oil fields surrounding these two blocks.
No economic discoveries have yet been made on the Oil Blocks pursuant to the farm-in by Trillion and there is no guarantee that any oil discovery will be made.
[1] https://www.reuters.com/article/turkey-energy-oil-idAFL1N3710DC
[2] https://www.tpao.gov.tr/file/2212/en-sehit-esma-cevik-bilgi-notu-114363997195a6d60.pdf)
https://www.tpao.gov.tr/file/2305/kamuoyu-duyurusu-eng-13416452d270cb2e3.pdf
[3] Bati Raman Field Immiscible CO2 Application: Status Quo and Future Plans. Secaeddin Sahin, Ulker Kalfa, and Demet Celebioglu, TPAO.
https://www.offshore-technology.com/marketdata/oil-gas-field-profile-bati-raman-heavy-oil-field-turkey/
Trillion’s farmin obligations (Sole Exploration Phase – 100% cost) are 351 kilometres of 2D seismic followed by drilling four oil exploration wells. The Sole Exploration Phase is expected to cost Trillion about US$16 Million. The Joint Exploration Phase will have six additional exploration wells drilled, but Trillion only pays 50% of the cost. A summary of the anticipated exploration work program is as follows:
During 2023, approximately 351 kilometers of 2D seismic will be shot for a cost of approximately US$ 4.0 Million – Sole Exploration Phase – Trillion 100% cost
During 2024, four exploration wells are expected to be drilled for a 100% total cost of approximately US$12 Million – Sole Exploration Phase – Trillion 100% cost
During 2025, three additional exploration wells are expected to be drilled for a 100% total cost of approximately US$ 9.0 Million – Joint Exploration Phase – Trillion 50% cost
During 2026, three additional exploration wells are expected to be drilled for a 100% total cost of approximately US$9.0 Million – Joint Exploration Phase – Trillion 50% cost
Trillion will be the operator of these works and future development. The exploration term for the Western Blocks extends until May 17, 2027. The exploration term for the Eastern Block extends until December 16, 2028.
Arthur Halleran, CEO of Trillion, stated:
“The oil field trend is expected to run through the northeast half of the Eastern Block which has yet to be explored. We are excited about the exploration opportunities considering recent discoveries made in the province proximate to the Eastern Block. Wells drilled to date in the southwest of our targeted area have good to very good oil staining and asphalt in the rocks. This indicates a working petroleum system on the Eastern Block where oil has been generated and migrated within the system. There are 5 different Mesozoic reservoirs and 2 different Paleozoic reservoirs that have over 15 oil fields of note in surrounding blocks. This indicates oil generation which has migrated in vast amounts and as such, our exploration focus will be looking for traps. When you are surrounded by large, discovered oil fields, you know you are in elephant hunting grounds.”
This farm-in opportunity developed as Trillion’s Türkiye subsidiary Park Place has a reputation of being a very technically competent company that executes its work programs with a high degree of success.
The definitions used in preparing this news release are those contained in The Canadian Oil and Gas Evaluation Handbook maintained by the Society of Petroleum Evaluation Engineers (Calgary Chapter) ("COGEH") and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.
https://trillionenergy.com/news/
WEEKLY DRILLING REPORT JULY 27, 2023
WELL: Alapli-2
Progress: 0 metres
Measured Depth: 3258 metres
Week Summary:
Cleaned and scraped well
Set packer and tested
Further Activities:
Perforate gas zones and test
Turn over to production
Action from Congress on banking, schedule 1 status, crackdown on the black market, or all out legalization will be the only reasons to get investors and speculators interested in the industry again, in my opinion. So sit tight, don't hold your breath, and don't bet more than you can afford to lose.
I think the next financial crisis/bank failures, black swan, 4th turning will be happening before any of the above, therefore I'm expecting a big drop in securities. So I'm stacking the piggy bank for a (hopefully) generational buying opportunity within my holdings/watchlists.
Bring it on. Let this puppy crash and pick up shares on sale. Small chance it goes to zero.
HAHAHA I appreciate a good sense of humor. Well, if the colorful latter part of your scenario happens, that is a sell indicator as far as I'm concerned. After all, we all know the saying...
A $100 Billion company, wow. I can't wait for more news on this. Is it too early to talk acquisition? I'd like to see Trillion stay for a couple of years and fulfill the SASB and see what the off block exploration offers.
BOOM... see Art’s statement.
Trillion Energy Announces 40+ Metres Of Gas Pay In Alapli-2 Well At SASB Gas Field
Alapli 2 successfully drilled to total depth with 40+ metres of gas pay identified.
July 17, 2023 - Vancouver, B.C. - Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce the preliminary gas indications from the Alapli 2 well, the sixth well in our multi-well program at the SASB gas field, Black Sea, Turkiye. On July 16, 2023, Alapli 2 reached 3,258 metres total measured depth (TMD) and discovered abundant gas pay.
Our analysis of the gas measurements in the mud logging results for the Alapli 2 well suggests + 40 metres of potential natural gas pay within 6 separate sands in the Akcakoca Member (SASB production zone).
The logging while drilling data is also being evaluated. The 7” production casing will be run in and cemented. The initial perforation intervals are currently being selected to bring the well into production. Completion and flow testing will occur once the well is perforated, with results to be announced next week.
The offset Alapli-1 well-tested 7.1 MMcf/d from a combined three zones with a measured thickness of 15 metres.
Arthur Halleran, CEO of Trillion, stated:
“The Alapli 2 well gives Trillion Energy 6 wells for 6 activities now at SASB. Trillion does not need any more funding for this SASB project. The success of this technically challenging project has provided the spotlight on Trillion to attract new exciting additional projects, which will be revealed over the next few weeks.”
If he's able to pull it off without another financing round in 2023, that would really be something.
I was pretty disappointed with the weekly drilling report also. When they advertise 30-45 days per well, they really mean the latter. But keep on pushing Art, we know this one is coming soon.
WEEKLY DRILLING REPORT JULY 13, 2023
WELL: Alapli-2
Progress: 0 metres
Measured Depth: 2885 metres
Week Summary:
Run in and cement intermediate casing
Drill out plugs
Further Activities:
Drill next section, about 500 metres, to final TD MD of about 3400 metres
Run-in and cement production casing
Pick and perforate intervals and turn over to production
In Art's most recent interview he stated that the re-perf on the two wells would be done within a week. What's up with the second one? What am I missing?
C'mon Art, I'm hoping for a weekly drilling report tomorrow that says we're officially 6 for 6!
Wondering why it peaked Friday/Monday morning?
Regulators missed a deadline, surprise surprise.
https://grist.org/regulation/international-negotiators-just-missed-a-deadline-to-regulate-deep-sea-mining-now-what/
This thing will probably make a run leading up to the next ISA meeting and then drop, so on and so forth.
You don't have to convince me. A logical question: If we want to get away from petroleum/slave mining/destroying forests, and increase the world's electrification, why are so many nations and activist groups trying to stop ocean floor mining? Personally I think nations are trying to delay (i.e. Germany) simply in order to play "catch up" with players like TMC.
I'm a short term bear, long term optimist. We might just have to get through another painful worldwide financial crisis before this thing really takes off.
It will fall more. The ISA is not going to make any news this week, this month, this summer. This permitting process is going to be extended for long into the future and speculators won't have the patience for it.
Interview with TMC CEO Gerard Barron on Kitco News 7/12/2023
https://www.kitco.com/news/2023-07-12/Can-ocean-floor-mining-scale-The-Metals-Company-s-Gerard-Barron-on-Pacific-Ocean-trials.html
Within the next week or two: Alapli-2 will be the sixth well added to production. Well #7 will be spudded. I even think news of a financing round will be made.
I like how you're thinking AP-1 through. I'm going to read back through PRs regarding AP-2 and pay attention to the AP-1 language. I wouldn't put that plan past Art, he's got some aces with this project.
We'll get #6 (Alapli-2) 2nd or 3rd week of July. Then #7 likely end of August and #8 beginning of September. I doubt we'll get there without either financing or a big increase in gas prices. But either way we'll get there.
With 8 producing wells and the work continuing, I'm expecting the gas pricing to increase at this point - going into autumn/winter. Getting 9-10 on production before year end with *hopefully* a good price environment should lift us up out of this nasty trade range to create a new floor which is our present ceiling. Keep em going Art, I'm looking forward to new interviews and updates.
WEEKLY DRILLING REPORT JULY 6, 2023
WELL: Alapli-2
Progress: 511 metres
Measured Depth: 2885 metres
Week Summary:
Drill 12 ¼ x 13” hole to 2885 metres MD
Prepare hole to run in intermediate casing
Further Activities:
Run in and cement intermediate casing
Drill next section to TD MD of about 3400 metres
Run in and cement production casing
Pick and perforate intervals and turn over to production
WEEKLY DRILLING REPORT JUNE 29, 2023
WELL: Alapli-2
Progress: 1471 metres
Measured Depth: 2374 metres
Week Summary:
Drill 12 ¼ x 13” hole to 2375 metres MD
Further Activities:
Drill 12 ¼ x 13” hole to about 2750 metres MD
Run in and cement intermediate casing
Drill next section to TD MD of about 3400 metres
Run in and cement production casing
Pick and perforate intervals and turn over to production
I have a big position in Planet 13. I love the debt free business they have built. However, I will say this is the dumbest freakin thing I've seen from them yet. Might just be perfect for weird Vegas though. I just hope business is good to be burning money like this...
Planet 13 Announces the Return of Cannabition, an Immersive Cannabis Experience Designed by Renowned Broadway Creative Director David Korins, Coming Soon to the Las Vegas SuperStore
LAS VEGAS, NV / ACCESSWIRE / June 29, 2023 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated multi-state cannabis company, today announced the return of Cannabition (headed by Keneh Ventures), a brand-new 12,000 square foot whimsical and visually breathtaking environment, tailor-made for cannabis enthusiasts seeking an awe-inspiring and "Instagrammable" experience.
With the ever-looming debt crises, liquidity crises, threats of war and coups, I don't think any level is a pipe dream.
And during/after the next black swan (6-12 months imo) is when I load the boat on a lot of watchlist items.
Good start to the day here. We're right at our 3 month resistance, hopefully we can push through and make higher highs/lows
WEEKLY DRILLING REPORT JUNE 22, 2023
WELL: Alapli-2
Progress: 903 metres
Measured Depth: 903 metres
Week Summary:
Run in and cement surface casing.
Further Activities:
Drill next section to about 2750 metres MD
Run in and cement intermediate casing
Drill next section to TD MD of about 3400 metres
Run in and cement production casing
Pick and perforate intervals and turn over to production
I wish!
Anyone wants to sell me your shares for $0.01, PM me and I'll take them all.
And according to Art, both of these wells will be done within a week of each other.
If that's accurate then I expect AK-3 to be back online within a couple of days from now, then just about two more weeks for Alapli-2 to be producing. That will be #6.
Looking good folks. Keep focused Art, keep climbing.
Interesting correlation - have there been Orca incidences in the Pacific as well?
Interesting. I assumed either it meant mobilize or it was a typo haha. Good tip.
Hello all. I’m new to researching this company and this niche sector. I found it from the Jim Rickards publication. I’m very intrigued and have a feeling the pop today is due to the upcoming July deadline for developing regulation. Seems like we should be thanking the government of Nauru for that one.
WEEKLY DRILLING REPORT JUNE 15, 2023
WELL: Alapli-2
Progress: 903 metres
Measured Depth: 903 metres
Week Summary:
Mob to Akkaya tripod and spud Alapli-2 well
Run in the conductor pipe
Drill 17 ½” hole to 903 metres
Further Activities:
Run in and cement surface casing
Drill next section to about 2750 metres MD
Run in and cement intermediate casing
Drill next section to TD, MD of about 3400 metres
Run-in and cement production casing
Pick and perforate intervals and turn over to production
Full disclosure, Trillion is a sponsor of that podcast. Now that being said, I know of two podcasts that are sponsored by Trillion but the interviewers are both shareholders. I agree, the questions asked are key. Answered what I wanted to ask at today's presentation.
Regarding a R/S and/or share buybacks, I don't see it happening this year. He's considering (though doesn't want to do another capital raise. I'm really hoping Trillion can perforate most efficiently and get through these next couple of wells without a raise. If that turns out, I think we'll be in the self-funding mode. We'll just have to wait and see! Hey, we're 5/5 and #6 should be easy so keep on with the good news. Trillion is performing and that should be celebrated.
Trillion CEO Art Halleran on the newest Mining Stock Education podcast:
https://www.miningstockeducation.com/2023/06/well-5-is-our-top-producer-to-date-explains-ceo-art-halleran/
Newest short chat with Art:
I hope you register and can attend the presentation to ask those questions. All good questions, but I think they've addressed a second rig/crew in a previous presentation and did not seem interested in that. I wonder what would make them change their mind on second rig/crew.
I plan to ask:
1) Is Trillion planning more shareholder dilution in 2023 with a capital raise?
2) How is the new engineering consultant adding value to Trillion's operations?
3) When will exploration begin around the SASB? Or if it has begun, what are the developments?
Trillion Energy is participating in Echelon's International Oil & Gas Conference on Thursday, June 15th, 2023, from 3:30 - 4:00 pm ET. Join us as we delve into the vast opportunities present within Trillion.
Link to register: https://echelonpartners.zoom.us/webinar/register/WN_oGcxVUpQR7a6pb8Z9fHksA#/registration
We will present for 20 minutes, followed by a 10-minute Q&A session for investors to pose questions to Arthur, CEO of Trillion Energy. During registration, please enter "Trillion Energy" under the "Salesperson" field when registering.
TRILLION ENERGY SPUDS ALAPLI-2 WELL AT SASB GAS FIELD
Drilling of the sixth natural gas well at SASB has now begunGlobeNewswireJune 09, 2023
Vancouver, B.C., June 09, 2023 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. ("Trillion" or the "Company") (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) announces the spudding of the Alapli-2 natural gas well at the SASB gas field, offshore Turkey, the sixth well in the Company's multi-well program.
Alapli-2 is a long-reach directional well being drilled from the Akkaya tripod and which will twin the Alapli-1 exploration well. The Alapli-1 well was never put on production but was perforated and tested at a combined rate of +7 MMcf/d, indicating the gas pool is economic.
Update on Bayhanli-2 production
The Bayhanli-2 gas well which commenced production on June 2, 2023 has averaged 8 MMcf/d (100%) of natural gas production in its first six full days of operation.
Gas Prices
The June Botas gas price is USD $14.14/mmcf.
Arthur Halleran, CEO of Trillion, stated:
"Alapli-2 is a guaranteed success, being a twin of an unproduced exploration well with significant reserves. At completion in about 45 days, we will have 6 gas wells on production at SASB. We are also now getting fantastic flush gas production from Bayhanli-2 our top producer to date"
About the Company
Trillion Energy is focused on natural gas production for Europe and Turkiye with natural gas assets in Turkiye. The Company is 49% owner of the SASB natural gas field, one of the Black Sea's first and largest-scale natural gas development projects; and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. More information may be found on www.sedar.com, and our website.
Contact
Office: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are not guaranteeing of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company's filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings for the first quarter of 2022. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our reserves report effective January 31, 2022