Shell, PR39750, PR39751, PR3432, PR25605 and PR25606 are yet to be renewed. The fact that they have yet to be renewed raises a concern. PR39751 is where Haja exploration was undertaken in 2018. If the permit is not renewed, by what standard can you claim the resource....Australian or Madagascan??? The 'tell' will be when BEM announce their next exploration program in Maniry. My guess is that it will be across 5394 which is an exploitation permit. However, if they announce it on PR39571 then it will be evident that they have a high degree of confidence that it will be renewed or converted to a PE. Or, the govt could actually begin renewing and converting permits again. I am not saying that isnt possible. But my view is that its unlikely - i hope i am wrong.
Remeber NEXT got its PR converted to a PE in 2019. This is very surprising. Either NEXT were lucky or there is an issue with the BEM PR's.
Surpisingly my initial post got moderate. If that is the standard in which posts get moderated these days then i gues we can say goodbye to 90% of the posts that make there way on HC. Very dissappointing.
BEM Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
