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Spitfire Oil

16:51 on 20/11/2017

Current Price 7.08p | Bid 6.50p | Ask 7.25p | Change 0.00%

Company Overview

Spitfire Oil Limited, through its wholly owned subsidiary Hurricane Fuels Limited is a company formed to pursue the production of fuel oil and distillate from the Salmon Gums Lignite Deposit in Western Australia. Hurricane Fuels has secured exploration licences over both the Deposit and the adjacent ground prospective for extensions of the Deposit. The funds raised in the placing will be primarily used to confirm the technical and economic potential of the Deposit and to complete a feasibility study to be conducted over the 24 months following Admission. Depending on the results of the feasibility study, the Company plans to establish a mine and construct processing facilities at the Deposit to exploit the lignite resource by applying its proprietary Lignite2Value conversion process (L2V). Subject to commercial and technical feasibility and subsequent financing, the Group intends to produce between 5,000 and 20,000 barrels of oil and distillate products per day (which equates to 1.7 to 6.8 million barrels of liquid products per year) as well as associated by-products, including co-generated electricity, activated carbon, and metallurgical char. It is intended that the oil and distillate and the associated by-products will be sold to both local and export markets potentially including Kalgoorlie and the Goldfields region in Western Australia.

Stock Details

ISIN BMG836741048
Shares in Issue 25,884,001
Market cap £ 0.81m
Sector Oil & Gas Producers
Indices FTSE AIM All-Share Index

Financial Highlights Year Ended 30/06/2014

Turnover £0.14 million
Operating Profit £-0.29 million
Dividend Yield 0.00
Dividend Per Share 0.00
Dividend Cover 0.00
P/E Ratio -1.36
» More Financials

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Price Summary

Mid Price ? 6.88p
Bid Price ? 6.50p
Ask Price ? 7.25p
Volume ? 0
Change Today 0.00p
% Change Today 0.00%
Open 0.00p
Previous Close 6.88p
Intraday High 0.00p
Intraday Low 0.00p
52 Week High 4.13p
52 Week Low 2.75p

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