Good Morning,
Why the need for so much, VOG's RNS today should have read:
GDC-ENEO Pipeline Installation and Genset Update,
Cameroon:
- Gaz du Cameroun completes all pipeline and metering installation to Bassa and Logbaba power plants ahead of schedule, meeting all contractual obligations
- Pipeline now "gassed up" and completion certificates issued
- Twenty two Gensets with a combined capacity of 28.6MW arrived at Douala port and cleared customs - sixteen of these (20.8 MW) now onsite at Bassa power station and six (7.8MW) at Logbaba power station
- Seventeen Gensets (22.1 MW) scheduled to arrive in Douala on March 15 2015
- Combined total 50.7MW.
- Target date for commissioning of both plants (50MW) remains end March 2015
Antofagasta (ANTO) have protests
at Los Pelambres by the locals (doesn't bode well for sentiment). The
drought in Chile (the alleged caused of the protect) has been significant,
impacting not only on the locals, but also mining with no exceptions to sector
including Copper and Iodine (Inc, Sociedad Quimica y Minera (SQM)).
Los Pelambres production is not insignificant (2013
figures), but has suffered grade declines (industry issues for larger
operators). One assumes ANTO have got a plan B if air travel is impacted. With
the corruption in Chile being far from exclusive to petroleum, expect more
discontent. See: SQM
announcement.
With GLEN's confidence in copper already being shown to be
wrong, on Friday (afternoon there's a surprise) with POET's day in full swing
GLEN's William Macaulay flogged 53,756,571
shares at a price per share of GBP2.8174. Confidence? With that in
mind short-term traders have elected to punish the stock.
Sylvania Platinum (SLP), the once upon a dog of mine until I
woke up to the realities of shorting has been awarded the PGM
Mining Rights and Iron
ore rights. Save for the former, SLP transfer all of the iron,
vanadium and heavy minerals to Ironveld (IRON). Long short-term and long-term
on both, there's a finance update from IRON and a dividend announcement
anticipated on SLP. One won't get too excited. The dividend announcement by the
PGM mining rights already risk the dividend. Will save the other commentary on
this for another day.
The common-sense question of the day goes to Alecto (ALO)
and Desert Gold Ventures Inc. (TSX.V: DAU) whom have entered a Co-operation
Agreement between their two assets. Why the two entities don't just
merge and remove an entire level of corporate admin and expenses it beyond me!
Small beer, but a combined entity has a better chance...
This morning various analysts picking up on the thermal coal
issues, it would be wise to start considering a floor to pricing, at least in
the short-term. Over to South Africa to fire the first shot.
Both WTI and Brent Crude slipped just below a vital level of
support, $49.56/bbl. and $59.39/bbl. respectively, expect some balancing around
these levels and ignore the support levels for now. There's a healthy level of
demand around these price with modest fluctuations not likely to see too much
pain (read as downside) for the producers.
There's some more reliable gossip around about Ithaca Energy
(IAE) and Gulf Keystone (GKP), the former getting some coverage of being a good
recovery play with lesser risks and the latter having some serious interest.
GKP's price I'm led to believe is the sticking point with the management 'unable
to recommend or back the alleged offer price.' Sounds like a very low
ball offer, one hopes GKP haven't been got by the short and curlies!
With various items afoot at the moment, it’s a short
one!
Atb Fraser
