Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I like many others are not best please with the sp, but they have done the sensible thing...,. God knows how they have gone through so much cash so fast but the mcap is now only a bit more than the cash in the bank! This is way over sold and a big bounce will be due at some point.
These are tough times for all industries. Look at EUA's RNS this morning - another company who are holding back funds due COVID. At least BLOE trading is not suspended and they still have a NOMAD.
i meant to say schlum couldn't lift it to 4p
I was going to be expecting some sort of bounce back initial as you usually see in this kind of small caps , but nope. Zip, nothing. TBH even the schlum deal could lift it to 4p. This stock has had very strange behaviour to even make anything real on the sp. so strange. But like we say half a penny increase is a huge change to loss and profit here.
Still positive we will get to 3p in the next 3 months
Have to agree with you Hustler.
I think anything between 2-3p and im out and wait to see what happens when they place again
No Hustler, my Nancy Drew days are behind me!
Your writing style and incessant negativity simply reminds of Mike31.
I may be wrong of course, it has been known to happen.
Anyways, have a good day and stay well.
Your decision was to invest in the company. You/we own a small part of this company, to my mind that would necessitate the use of the possessive.
Did you ever mention your previous monicker or are you very new to LSE BBs?
Hustler,
Your language use here is interesting. You use "they", "their", "them" etc. People who are invested in a company use the terms 'we', 'our' etc.
Are you simply trying to distance yourself and if so why are you the most common poster on the BB.
Or is there another reason?
oil price low with the virus and just bad luck stuck without a gas meter , also just putting it out there strange how the 3D survey not been shown yet,
My theory is it be in a RNS in 3 weeks and will show a mass of oil or gas
Which then rises the share and then bang a share placing to raise capital
All sounds good , lol i wish
It will be interesting to see if any directors pile in at the low price...if they are so confident things will come back when Oil price rises they should be mopping these up @1.6p.... No director buys on next few will send a clear signal to investors.
Cheers Sea7
As for the gloomers and doomers......oilmanjim. lmao with that one. Funniest thing I've seen written for ages.
Gents fact is. If u dont like a stock leave the bb. It's not hard is it.
Also fortune favours the brave! If bloe goes under it goes under. My risk, my belief, my research and my money BUT PH MUST GO!
ha ha - yes I know what you meant
" your position with grace" oops.
Haha, you know what I meant>
Thanks Bedex - good luck also.
I have been investing in the AIM casino/cesspool for over 12 years now and to be honest, I have only ever ventured outside of it a couple of times for main market/ft100 and the occasional 1 month forward brent etf!
It is true that management are key in the small cap, aim cesspool - as there are plenty that create lifestyle companies and others are just expert at showering everyone in confetti shares. Their actions speak louder than their words.
This end of the market gets no coverage from brokers, analysts or the media - so we are pretty much on our own in doing the research - part of the fun in my view, however, because it gets no real exposure, it is home to some real ****bags - they wouldn't stand up to scrutiny in the full glare of the FT100! -
you are right though, it has degenerated into a festering swamp of dodgy outfits and even worse players. This rout we have had will consign a few of them to the sidelines permanently and also will ensure that the worst of the listed companies will probably go, as they won't be able to get the usual bucket shops to run a book for them.
perhaps it will clean up this end of the market a little bit !
Well I genuinely hope it works for you. AIM has become a cesspit of scams, totally the opposite to why it was created to give aspiring Companies a way of raising cash.
I have never been happy with PH even with his first set of podcasts announcing the wonder well 16az.
Something about the guy rings alarm bells which is why I sold most of my holding.
However, as you say, each to their own, Good luck to you, you have always explained your position with grace unlike the yobs slinging abuse, most of whom have now left the building.
for the record bedex I looked at FRR at a somewhat higher price and walked away from it, feeling that it was not for me - never looked back at it again.
In my view, block spent $3m on two drills - 38 and 51
they have done at least $2m on upgrading facilities
they have spent out on a 3d survey and bought and EPF with gas processing facility.
and wages and admin.
whilst I did expect a bit more than £2.76m left, I wasn't expecting it to be significant at this stage in relation to the amount raised.
As the georgian govt rules on flaring impede progress until such times as the gas production facilities have been fully installed and become operational - I had pushed any expectation of any real progress to later this year and am adding a couple of months to that due to covid.
I bought into block initially in jan 2019 and booked substantial profits selling the lot at 15.66p in the may - I felt it had become toppy for where they were in the grand scheme of things.
I reopened a position, once the stock had collapsed down by over 50% from that level, with an expectation of holding, supporting and adding to it, over a period of two to three years. I am about 7 months into this new position.
I take very little notice of CEO sales pitches and simply look at the projects, balance sheets, rns's etc and take a view on things myself. It helps me avoid buying in, when CEO's talk of "best well in 50 years etc" and getting spiked.
If they announce a fund raise and I think the terms are ok and I believe in the projects then I will be supportive of the raise and most likely will buy in, however, if not, I will cut and won't post here again.
we all take our chances and I generally buy when a company is having issues, as the stock is usually in the gutter, along with sentiment - it does mean I must have a fairly good idea on whether they can overcome their issues or not, as the risk is greater, but then so are the gains when it goes right.
each to their own eh!!
SEA7, I maximised my chances of making a substantial profit with frr by buying most of my shares at sub 0.10 p. mainly based on the fact that the directors already had substantial shareholdings and were putting more cash in to support the Co.
Look where that got me!
This lot have burned cash at a tremendous rate ( other peoples cash) ,despite launching at a fully funded position with world first new technology and within a short period of time managed to raise a further £11m on some what dubious info.
Now most of that has gone, the directors have not supported the SP and you lot are.
Think it through before you splash any more cash.
The shares that I have left here have such little value it's not worth cashing them in, before you suggest I don't have any.
on the other hand bedex, the chances of making the best gains are made by buying at the point of maximum pessimism.
If Groover is correct and the stock increases off the back of improved market conditions and company specific announcements, then groovers purchase at a time of higher risk will reap the greater rewards.
MCAP £6M
Cash £2.76m
oil in storage £380k
This means that just over half the cap is in cash or above ground oil in storage.
running costs are way down now.
Obviously there is some downside, however, the company can tick over at this rate for a year or more without doing anything. Considerable upside potential is there.
The old argument about bashers never bashing a bad stock, is relevant, quite simply because if Block was a dead duck, then this BB would be like the others that are dead ducks - completely silent and devoid of posters, positive or negative.
Most investors or traders that are not in this stock are busy researching elsewhere, taking positions and are not wasting their time posting on a board they are not interested in making money out of.
Anyone that posts on a stock board that they aren't looking to make money out of, would be better served posting on facebook.
Groover, "the doomer and gloomers won't leave this board".
Is it only for the gung hos then ?
If you are happy to top up then do so. I think the general consensus according to the trading pattern is that you are throwing good money after bad.
Source, the last two days trades.
Another poster mentioned the positives in this article so wanted to post again as doomer and gloomers wont leave this BB and another INDEPENDENT perspective worth sharing. I for one have enjoyed reducing my AVG. Rock on!!
Block Energy
Cost cutting at Block means a 40% reduction of cash expenditure, currently they have $3.4m and crude stocks worth $470,000 depending what time it is but it’s not for sale now. The company are shutting-in WR-16aZ and WR-382 to conserve gas reserves, again a wise move. Abandoning WR-51Z would have been a difficult call but there is nothing like this sort of market to sort the wheat from the chaff.
Overall Block is doing the right things, it is effectively going to a care and maintenance basis in Georgia but still continuing to ‘work tirelessly’ on the acquisition from Schlumberger which, should it complete will make significant growth for the future for Block. Along with the substantial reduction in its operating and administration base the company seems to have taken the hard decisions on behalf of shareholders.