Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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What salary increases have the Directors awarded themselves and low ball share options that are horrific ?
Makes a nice change...
Have shares in both top risers today, JOG & VLS
Check VLS out, huge potential, I work next door to the site. DYOR
hasiba - don't give the morons oxygen. Why would there be a placing any time soon when the price is still so wrong? They've got enough cash to last them until the end of next year anyway. The key issue is what terms JOG will be able to negotiate a farm out on when the time comes later this year - maybe more than one.
If people would just apply a bit of logic they would see the light. Even at £1, JOG is still valued at less than £22m, which is peanuts compared with the assets they're holding.
dyor
Ol no Dick.....I hope I haven't just inadvertently landed myself in that bracket....be kind sir, be kind please......
Exzess, not wanting to get into an argument with you, not my style of posting, however, you seem to have answered your own question with your post at 11:20.
JOG has enough money through to the end of 2021.
There is a data room being opened in Q3 of 2020 for potential large investors to look at JOG's plan and hopefully a farm-out deal will be reached.
If the farm-out deal is reached, JOG will receive proceeds from that deal, and also I assume, a good deal moving forward regarding development of the asset/s covered by that deal.
Will there be a raise? Who knows, certainly not for a long time by the look of the above. I am no expert in these matters but as PC01 writes, why would JOG do a placing unless it was for a to good to miss deal?
Actually, I always think of placings like this. If the money raised is for a very good reason, and not just wage packets of the board, what's the big deal? Short term the price may drop, but if the money raised is for something really good, then I have no issue with it as the price will rise.
".........Is it not inevitable that a placing will occur in the very near future? IMHO the answer is yes".
............the usual dimwits pitch up with thoughts an average 5 yr old would be embarrassed to express.............
It's number 1 on the leaderboard which attracts them coming on here just ignore the clowns
Even if placing is coming...it will be a positive not a negative one.
Not every placing is negative unless if it’s paying debts which is not the case here...
The placing if it takes place ,it will be for growth and huge expansion and more like a new IPO in a very successful enterprise...
No problem here and will be glad to buy additional shares allocated for a guaranteed massive appreciative acreage..
If you are concerned about diluting shareholders...you don’t need to as there is only 22m shares in total issue at present..
This SP is severely undervalued and well overdue for re rating..
GL holders
2025? Get real fool. JOG have a big pile of cash and no need to raise for a considerable time. Obviously you forgot to buy before the price rocketed. Didums.
Phoebus, 12 mln will not get JOG anywhere near 2025 full operational and development! Which pile of cash you referring to? Huge placing will be on its way.
Financial Results
JOG continues to benefit from a straightforward capital structure, with a strong cash position that more than covers our current contracted work programme for the Concept Select phase of the GBA Project. We have no debt and no decommissioning liabilities. Our pre-tax loss for the year amounted to £2.1m as compared to a £2.0m loss in 2018.
Cash at year end was £12.3m, down from £19.8m at the end of 2018, largely due to our share of the costs of drilling the Verbier appraisal well in 2019.
JOG remains fully funded to deliver the Concept Select work we are progressing on our GBA development and we have implemented cost saving initiatives to cut our 2020 budget guidance by more than £3m from £10.6m to £7.5m. The Company has sufficient working capital through to at least the end of 2021, prior to any proceeds from our planned sale of a part interest in our GBA Project, the process for which is expected to be launched later this year. Cost control continues to be monitored closely by our Board.
Smell you a mile away....question for you exzess. If and when JOG does a farm out agreement (I'm assuming you know what that is) how much cash do you think it will need? Answer plse on a postcard.
However, they might raise cash if they could buy very cheap assets which might be for sale from forced sellers....that said, with over 130mm barrels of proven resources and a further 230mm barrels of potential, I'm not sure whether they need more resources...especially with the uncertainty over oil prices even with this bounce. The reason why JOG is uniquely placed is it has no debt to hammer it, unlike PMO or TLW. So if you are short, please stay that way, it'll be good to watch ...
Go do some research exzess. JOG already have a chunky pile of cash. Net current assets per share is around 60p.
Is it not inevitable that a placing will occur in the very near future? IMHO the answer is yes.
Are they financed till 2025 for all this development? I recon huge placing will be the next thing!? What you recon?