George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Sure MMs have tricks to manipulate volume. That's how they make their money. However there is absolutely no benefit to MMs holding the price back on a stock with only 6 trades in a day.
To be honest it looks like the MMs have given up on this as a money maker for them, for now. There is just not enough interest either way. Buy or sell.
IMO, the market is pricing IOG were it sees its value. If more people wanted to buy into IOG the SP would rise. They don't, so it isn't. Simple as that.
I don't like posting negatives on my holdings. I find that the vast majority of posters only want positive points of view and it ends up more an argument than a conversation when I do post negative points.
Having said that, I have posted my thoughts on IOGs issues before. And I would like to discuss them further. So here goes.
Whilst the BOD have done a good job getting the core project to where it is, in difficult circumstances, IMO, they have made a mistake in focusing solely on the core project and have neglected exploration. IMO, Production dosent work without exploration. Exploration & Production works. Its tried, tested and proven. Take out the Exploration and all the Prodiction is doing is consuming your assets. IMO, they made a big mistake putting all there eggs in one basket with Harvey. Now we have no clear way to increase resources and hence reserves. IMO this is holding the SP back.
I keep reading that IOG are fully funded. What that really means is that they have secured debt for Phase 1 capex. All they have done is borrow against future revenues. IMO, at the moment phase 1 revenues pay for Phase 2 Capex. Phase 2 revenues go towards paying the debt. Then after the debt is paid the production profile and revenues drop off markedly. How will investors actually see a return. I cannot see how this becomes a dividend paying company. IMO this is holding back the SP.
IMO the market is pricing in expected delays and cost increase on the core project. No offshore Oil and Gas project in the UK has been delivered on time and on budget in the last 10 years. Not by BP, Shell, Total etc. etc. I hope our project can be delivered on time but IMO its fair, especially with COVID to price in some delays and cost increases. IMO this is holding the SP back.
IMO, We need to increase resources, increase production and increase revenues to markedly increase the SP. IMO, we need to this through Exploration. The BOD keep going on about stranded assets / resources. IMO this won't work. Stranded assets have been left behind by other operators as they uneconomical to produce. Opex outweighs revenues. Stranded resources are stranded not because of the lack of a pipeline or infrastructure. They have not been developed as they are uneconomical as Capex outweighs revenues.
I will hold through to first gas. That's my play here. I just hope that we can increase our production profile. If we can I can see multibag returns. If not I may need to lower m
Black - you are asking the same question that we LTHs have been posing for some time, and taking all elements into account, we are sitting at the very least one-third of SP value that should be the case at this stage of the SNS project. There is of course the LOG encashment factor to be considered down the road, also the completion of the detailed work programme without hiccups - but these are acceptable scenarios in terms of investment in a well managed and fully funded operation. I echo my fellow posters' views on manipulation by MMs here - also the investment opportunity presented by their persistent suppression of the SP. Must add in the lack of appetite in the lower markets for any form of "risk" investment in the current environment - and the hope that our timing for taking the wraps off this project in late 2021 will co-incide with a more optimistic mindset in the market. Meanwhile BOD - surely time for another update on work progress out in the SNS??
You cannot beat looking busy and progressive in terms of holding investor interest.