Myanmar Investments Share Discussion Threads

[munaf26] 30/6/2011 22:19

This was a post on BEM board which could be applied to BAO regarding why a JORC could be delayed.

I will post only this once here as I am am too busy otherwise and will not respond to rebuttals. I am not interested in discussion board garbage. I am a professional geologist - 30 years at it in industry and academia.

I am amazed at the arrogance and triumphant negativism of a few posters on this board who regularly demonstrate that they know very little about the realities of mineral exploration.

Mineral deposit evaluation rarely fits into a tidy schedule because it is an iterative process that evolves as understanding of the deposit geology evolves. To produce grade and tonnage estimates requires sampling (drilling and assays). The density and 3D arrangement of drill holes is entirely dependent on the type of geology present. You cannot sample the entire deposit so you must interpolate sensibly between drillholes. This interpolation is entirely dependent on the style and continuity of mineralisation. If the sub-surface geology is complex, then you need to do more sampling at closer spacing. This can take longer than predicted at the outset. The drilling programme typically evolves as the subsurface geology reveals itself. If the ore is homogeneously distributed, then you can have widely spaced holes and it is easier to generate a quick and dirty global grade and tonnage estimate. But, in order to interpolate between drillholes you need to statistically define the 3D spatial trends within the deposit first (called variogram analysis). The interpolation and thus global grade and tonnage estimates (kriging) can only be made once the variogram analysis is completed. This is a mathematically complex analysis that requires a lot of data to be statistically rigorous and defensible. But it must be done to produce a credible evaluation and to go from resource to reserve classifications.

Beowulf has just presented excellent results and has a world-class deposit at Kallak. Delays in JORC estimates are most likely due to the size and complexity of the prospect and the need to further prove up the sub-surface distribution and grade variability of the ore body. If it is evident to geologists working on the project that the prospect is bigger or more spatially complex than originally envisaged, then obviously it will take longer to prove up. The drilling programme is iterative and very often takes longer than expected.

[azhardar] 30/6/2011 18:48

looks like some thing is about to happen good finish and good day friday to finish off the week

[m1tu] 30/6/2011 16:33

good solid finish, ftse touching 6000 points.

[m1tu] 30/6/2011 11:25

so quite today. ftse roaring towards 6000 points.

[azhardar] 30/6/2011 10:44

sold bem thinking to buy some kefi but might wait till tomorrow

[haroonm] 30/6/2011 08:47

very quite today!!

got to be patient with sea as real value will return sooner rather than later, i think its exciting times ahead lots of things happening. there stake in logp will i think will be worth 20million if they get good results. only time will tell. also should get the other directors buying in now at these prices.

[m1tu] 29/6/2011 15:13

closed bmr. only holding bao.

[azhardar] 29/6/2011 14:26

i think he wanted to be out before voting outcome and he manage to screw up the todays rise

[m1tu] 29/6/2011 14:23

looks like a roll over, similar amount bought back. or maybe someone nervous sold. greece vote passed.

[azhardar] 29/6/2011 14:16

as soon vote was passed mms started pilling to sell what happened 2 v 6

[m1tu] 29/6/2011 11:09

yeah seems like people waiting for the outcome just to be on the safe side. it should pass.

[haroonm] 29/6/2011 10:56

a lot of people are sitting on the fence at the moment waiting for the outcome of the vote. if all goes well then i expect bao to race to 40p.

[haroonm] 29/6/2011 10:45

WELL MARKETS EXPECT GREECE VOTE IN FAVOUR OF PLANS.. LETS HOPE ITS TRUE AND WE WILL FIND OUT APPROX 1PM

[m1tu] 29/6/2011 10:37

its should move up now, market cap at least same as the money n bank. ftse up ahead of greece vote. most stock should recover.

[haroonm] 29/6/2011 09:43

money in the bank...also final results out aswell so hopefully some sanity will follow.

[haroonm] 29/6/2011 09:29

DJ SeaEnergy PLC Completion of Disposal

TIDMSEA

RNS Number : 3375J

SeaEnergy PLC

29 June 2011

29 June 2011

SeaEnergy PLC

("SeaEnergy" or the "Company")

Completion of the disposal of SeaEnergy Renewables Limited

SeaEnergy PLC is pleased to announce that it has today completed the disposal of its entire interest in SeaEnergy Renewables Limited ("SERL") to Repsol Nuevas Energias S.A. ("Repsol") (the "Disposal"). The Disposal was originally announced on June 6(th) and received the approval of the Company's shareholders in General Meeting on June 22(nd) .

The Company has disposed of its 80.13% interest in SERL and has now received both the cash consideration and, following completion, the repayment of debt owed to the Company by SERL. After a pre-completion adjustment of GBP0.2 million the cash consideration and repayment of debt totalled GBP38.6 million, from which a GBP3 million retention has been withheld and which will be released to the Company on 28 June 2012 in the absence of any warranty or other contractual claims. As disclosed in the Circular calling the General Meeting the Company has immediately repaid loans due to LC Capital Master Fund, Ltd and EDPR UK Limited totalling GBP6.9m.

Repsol and EDP Renovaveis ("EDPR") have agreed to further develop two of the projects in which SERL has an interest. The Disposal included a Strategic Co-operation Agreement between EDPR and SeaEnergy to seek opportunities for mutual collaboration in relation to the supply by SeaEnergy Marine of operations and maintenance vessels, field infrastructure and equipment installation vessels for offshore wind farms, and any other areas that may arise in the future. This agreement has also been concluded today.

SeaEnergy will now focus on its existing assets, in particular its offshore renewables marine services business SeaEnergy Marine, and to ensure that shareholder value is protected with its existing Oil & Gas interests. The Board expects the Company to continue to be active in both the offshore renewables and oil & gas sectors going forward.

-Ends-

[m1tu] 28/6/2011 23:26

ive already used it on sea, when i find it ill pass it onto you.

[haroonm] 28/6/2011 21:53

mitu can i have your lifejacket!

[m1tu] 28/6/2011 09:59

w.salaam, good days are back in stocks. greece gets sorted this week and investor can forget them and come back into stocks. onward and upward. jorc must be very very close now. another 2 more days left then july.

[haroonm] 28/6/2011 08:58

salam bros. wakey wakey.....a close above 34p would be great someone just bought 50k at 33.75p.

[haroonm] 27/6/2011 16:34

glad it closed above 30p or the intra day high with some decent volume , hopefully we will test 35p tomorrow. We dont really want news until it hits 40p. it wil be interesting to see the late trades today.

[azhardar] 27/6/2011 14:43

may be tomorrow