Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I guess this is all about timing! If the government are really consider a floor mechanism, then who in their right mind is going to give ammunition to the case against the need for a floor - until it's in place (ammunition being : going ahead with major farmout or take over )
Just my view!
https://www.investorschronicle.co.uk/news/2023/02/28/windfall-tax-puts-cambo-decision-in-doubt-ithaca/
It reads slightly better in relation to net debt than the headline suggests, and therefore the ability to raise capital in my view.
Results end of month, but you sense they have enough on their hands - although conversely they have a North Sea only strategy - so ultimately need a pipeline of assets.
Personally, and IMHO - I regard this as more sabre rattling ahead of the budget, and connected to the Energy Voice 'price floor under consideration' comments...
Ithaca also have a huge bill to pay this year EPL wise if they dont 'act'. and they are 2 months into their financial year already. Others inevitably will be the same..
DYOR
Einbert - in light of your post I've made a request for an announcement tomorrow.
No harm in asking............
220p soon.............
I’d prefer tomorrow…..
I’m begging to think that we will hear in the week after the budget… only 2 weeks until the budget, so not long until end game
If it's Ithaca, I wonder if we are more looking at end March in line with their likely results..
Perhaps it is time for shareholders to start calling Arden/Zeus and Strand Hansen and start demanding some answers as to why they signed off on last year's RNS?
I agree with you Einbert.
We are now 3 months on from the RNS announcement.
We are giving Andrew the benefit of until the end of March for Q1, but he did say during Q1, and I can't believe that he would seriously allow that to run up to the 31st March as the basis for his announcement.
It has been a pretty thin gruel in terms of announcements to the shareholder base this past year, but the core base of shareholders has, at my best guess, stayed pretty loyal with little in the way of share selling.
There is a danger of us sounding like kids with the "are we there yet" chat.
However, in my opinion we are well into the range of Andrew's "time added on for injuries" clock., with a stated date already missed.
That alone could allow an up date - by RNS or Media round, release - they've done it before in previous years.
It could be - everything still on track; everything still on track, but delayed because of ...take your pick; or sorry folks, it ain't happening and your cash pile is about to get hammered along with JOG's fighting fund to keep the lights on (please no).
An email to the NSTA might be in order to ask why how they extended the Verbier Licence? With JOG only having some £6 or £7 million in the bank, were they convinced or "certain" that the finance was in place to take the Licence forward. (they would probably hide behind commercial sensitivity to avoid answering, but if this goes pear shaped, it will be a valid question to ask of them). The NSTA are there (surely) to lok after us all.
What do we need? More patience! When do we need it? NOW!
Unless, of course, the definitive RNS announcing the deal, is released in the next couple of days.
Ithaca more likely............ wdik? It seems to be banging out profits that could end up being taxed at 75%. Haven't looked in any detail at its existing reinvestment plans/possibilities.
https://investors.ithacaenergy.com/
There are any number of possibilities. I just wish JOG would get something positive nailed down before we learn (for instance) of further destruction planned by Sunakhunt.
dyor
Could Delek be involved here? They were involved with Ithaca deal I think. Just asking.
Sounds positive, hard not to get too dispondent given the share price has halved from October with no material difference in the situation but seen it at 50p in the past and kept the faith , the tax seems especially unfair given how unevenly the windfall tax has been applied, you could look at other markets/companies that have arguably benefited more like BAe Systems for one and so would prefer for it to go altogether but being realistic a price floor and retention of the investment allowance are probably the best we can hope for given the political nature of where the tax came from in the first place
Afish - Lets hope its not a barrel lock!
https://www.energyvoice.com/oilandgas/north-sea/485893/windfall-tax-north-sea-oeuk-david-whitehouse/
Price floor: ‘We’re delighted to say the Treasury have heard us’
Having met with the Chancellor, and written to him last month as part of Budget submissions, a key ask has been the industry wants the “windfall tax to be a windfall tax” so a price floor is implemented to stop the levy, should oil and gas prices fall.
Mr Whitehouse says government action is now underway on that issue.
“We’re delighted to say the Treasury have heard us on that and that kind of longer-term fiscal review will be kicking off in the course of the next few weeks.”
-----
Worth a read..... and note the extracted comments above..
DYOR - This may well be the key to the door!
My money is on a producer company announcement (March) timed with their results...
Depending on who, it could be anywhere between early and late March!!
I think if it's anything other than this, then Benitz has to go.. and as a collective we should call for that!
DYOR
DYOR
Robsroom... I'd point you to the share price in May/June 2019 just prior to the GBA licence award announcement, where it nearly quadrupled in short order (for something far less valuable - i.e. licence awards!). The share price looked equally depressed and on its way to oblivion at that point (despite speculation the licences were about to be awarded)..
I'm not buying the direction of travel argument on the current price.. Of course that doesn't mean I'm right ;-)
I do however think a T/O is most likely.. I just dont get why you would farm in and share the spoils (on the third largest pre FID project, the only one not owned by a large producer) when you can acquire this for a song and largely offset the acquisition cost..
DYOR / IMHO and all of that good stuff...
News soon please!!
Could take many by surprise IMO. market makers will take all my shares… very thin trading can mean oversized drops AND gains!
While I would like to remain optimistic on JOG, it is an awfully long , gut-wrenching delay since the RNS of 29/11.
I remind myself of part of that partially long-defunct RNS “…… we look forward to a successful conclusion if not by the end of the year then certainly in Q1 2023."
I think it’s about time for an update or explanation how and why the end of the year part of the statement became invalid and an update on current timing.
The first indication on timing did not eventuate, what confidence can we, or should we now have, on the ‘certainly in Q1’.
The lingering uncertainty, or doubt, must be the reason for the downward pressure on the share price.
Come on JOG Board, give us an update.
I understand that an RNS can and should only be released if there is news. I feel that investors are due an update on the reason for the 2 month delay from the first indicated date, together with an update on updated probable timing. I consider this to be worthy of an RNS.
Picked up another 939
Sitting comfortable with my holding . Definitely not selling . I’m here all the way , nothing has changed , weak holders jumping ship . If it drops any further I may surprise you all with my 3% !
I hope not, John!
you've deluded yourself, Trendz
Zero trades this morning! The recent fall is on low volume. Clearly the big shareholders are not selling (or buying) - some of them may be insiders on the FO. The risk reward looks incredibly screwed to the upside. Had a long think over the weekend and I’m holding out. If no FO by Q3 I will reassess. The bottom line is that this is one of a few ready made investments for the big boys to reduce their EPL tax bill. Barring a big surprise in the budget, the fair value is multiples of the current share price
...........strange world you inhabit, Robsroom..............