MAY

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3.6¢ melbana energy limited

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Flambeau

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19/06/24

09:23

Post #: 74382398
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Originally posted by Kit67: ↑

Total guess here: they could plug above 3210 (where the first core sample was taken, and where I think DST4 will take place), and then sidetrack from there (so its about a 600m run to the bottom of Marti), or they could run a liner over the perforated section (not sure that can be done? - perhaps someone can let us know). Either way, it is possible to sidetrack above the Alameda sections back into Marti. I think if they find that the API and flow of Alameda is "remarkable" (well north of the upper sheets), they will simply produce out of Alameda (they eluded to this once before, indicating that they did not necessarily NEED to produce out of Marti). At absolute worst, they can produce out of 1B (total fallback position).

With all that in mind (with three production options) - it is highly likely - IMO - that they CAN indeed produce out of A3. It's simply a matter of "the deeper the better" (better API, supposedly).

In the near term (who knows when) McDaniel will release their expanded assessment of the upper units, taking into account 1A. Following that, valuations from the likes of Evolution Capital will also be published. The dummy spit of the last two days (which was less than 3% of total issued stock) is simply a routing of short-termers, and may not necessarily represent the long-term outlook for MAY.

My view - I am ignoring the B/S (particuarly some of the rubbish from the usual suspects on HC) and sticking to the fundamentals. Marti may still recover, but if it doesn't we have Alameda or 1B for A3 production. People also seem to forget the recent CUPET / Sonangol meetings, and the subsequent commentary regarding production from the upper sheets.

Regards
Kit

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I would be willing to bet a lot of money that they never return to Marti ever again.

MAY Price at posting: 4.5¢ Sentiment: Sell Disclosure: Not Held
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