Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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YL
Hope scally took your advice about that stop loss!
Thanks, YL, I'll see if I can find a Private Frazer mask for you.
Ocelot,
I'm going to buy you a cheerleaders outfit and a couple of pom poms ;-)
GL's NPV calculation of 4p for Saltfleetby is in the nature of internal management information which cannot normally be gleaned from a company's published accounts.
Charlie - Angus released an inept RNS about Balcombe which should have raised the SP, but because they never did any research into the fluid losses into the formation they wrote about "water" for half a page killing sentiment.
And just to show how inept they are....all you have to do is read the Daily Drilling Report Mud Summary, General Comments Section, Mud Engineers Report an Mudloggers report who all have to mention fluid losses whether its on surface (evaporation), shale shakers overflowing or downhole.
I see wealdpwr's lengthy post of last night or earlier this morning has been removed.
I've never reported a post, so this had nothing to do with me.
Yanis - the question wasn't directed at Ruppet and I note Ocelot continues to avoid the uncomfortable truth about the experience of the current board with a Costa Del Crime figure lurking in the background.
The SP moved up due to Rupert buying in.....and now he's stopped...the SP has dropped.
It's sad when you actually know the name of the 4th largest investor in Angus (who some say has his own shady share dealing story of his own), but that also points to the fact that this share is flat.
Angus won't start requesting equipment for Balcombe until they get permission which will be in January at the earliest, so you can add on a further 1-2 months delay on top of that.
Saltfleetby - Angus haven't been awarded Operatorship of the field, timelines always move right when it comes to project infrastructure like this so towards the end of 2020.
Folk don't see Angus as being an investment at the moment, as there are other shares out there that are more attractive with better returns. And before Ocelot says but Lucan says we're worth 4p. You need people to buy in to raise the SP and sadly due to the inept history of Angus I suspect most folk will wait until results have been announced.
Morning Charlie,
HH was only a success after the UKOG team took over (as I'm sure you must be aware). I wonder what Tidswell's excuse was for selling out on the only asset so far to have proved to be of any real value?
Balcombe has so far proved to have a water issue - ring any bells!?!? Although our trusty BOD tell us this can be fixed... it doesn't explain why this "so called" great opportunity has been put to one side and left unattended for so long? My guess is that they probably need UKOG to come in and show them what to do first! ;-)
So what "was" the NPV calc for Lidsey... what "was" the NPV calc for Brockham... what "was" the NPV calc for Balcombe (first time around)?
The sad truth is that on each past occasion so called FACT rapidly sank into FICTION. Can we trust the folk who have so far failed each and every time to bring us even ONE success - to deliver eventually at Saltfleetby?
Well we're all going to have to wait well into 2020 to find out... but given their 100% failure record so far... don't hold your breath IMHO :-(
Like any other UK onshore energy project, Saltfleetby is faced by a number of regulatory and technical obstacles before it comes to fruition.
At the present time, do any of these obstacles look to be insurmountable?
No.
GL's NPV calculation of about 4p remains, therefore, the best guide we have to the value of Saltfleetby to Angus.
Wealdpwr,
You said "... And by all accounts that won't be happening for years, if at al -especially given how much he pays and loans to JTP plus expenses".
Maybe I missed something, I am not aware of Lucan lending JT-P any Angus money since Lucan arrived in the company - When did this happen?
Yanis,
An awful lot of high net-worth investors have "already" lost money here... the size of your trading pot only means that you could potentially lose more... his purchase is not a beacon of hope... just as the current SP low may not be the bottom. Having averaged down myself in the past (at what was considered to be the bottom and a "great entry price" by all and sundry at the time...) I know this all too well from bitter past experience!
Bearing in mind the duplicitous nature of Tidswell and his chums, I would not be surprised if this new "associate" investor of theirs didn't loan out his shares too. He could well be looking to make money on the down-side as well as the up.
The only "fact" you can be assured about here is that WE will be the last to know the truth!
Missing link
https://www.lse.co.uk/rns/ANGS/holdings-in-company-wf6q7bzap9vge4f.html
Alan,
Do you think that the guy that has recently put in to Angus circa £250,000 hasn’t done any due diligence? He hasn’t looked in to the team that will affect his investment?
****************************/rns/announcement/fc5ab6e0-d6de-4481-bf28-9f8239907e70/
I am sure he has.
We are were we are right now, right at the bottom. Personally, I am here because I am still holding my shares and down quite a lot atm. I also believe that the Angus situation will improve.
I don’t expect it to get significantly worse from here, just like the guy that put in about a quarter of a million pounds, I expect the team who is leading Angus to significantly improve the SP from here.
If I didn’t believe that the current team will significantly improve the SP, I will sell up, get what ever little money is left and move on. I do not understand this constant negativity. Constantly kicking a dead horse will not get it to wake up. Why keep on and on about the same points?
If anybody does not believe that the situation from here will improve ... why hang around? Why waste time on something that they believe is a total loss? Makes no sense.
I am looking at the company at this stage, now without rage and a cooler head, and I am thinking ... would I buy shares in this company with this team? The answer is yes.
- Directors investing in the company, putting between £20k and £30k each.
- independent investor puts in circa £250k
- Application for testing Balcombe is in
- Saltfleetby application is in
- SP at all time lows, at rock bottom, in all likelihood will go up
- Sentiment at rock bottom, as Balcombe testing nears ... it can only improve.
Would I now buy? ... Sure I would.
Ocelot - then some would say you haven't done your due diligence if you haven't looked at the team who will affect the SP of your investment.
They are very weak in almost every department....even Lucan admitted that himself "It’s been a steep learning curve but I’m distinctly enjoying it." Glad to hear he's using Angus as a training competency exercise....it makes sense now why the SP has crashed under his stewardship. Unless you can say its part of Lucan cunning plan....sigh.
So the Saltfleetby Management as you put it.....Saltfleetby is a Field....the Management at Angus is:
Lucan who stated himself I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."
Paddy Clanwilliam, a mate of Lucan who took a listed company private. Seems he will have experience of investors suing the company they invested in....sigh
https://www.thetimes.co.uk/article/the-earl-of-clanwilliam-the-oligarch-and-a-buyout-of-eurasia-drilling-that-riled-investors-5vtt6smfm
They have a Financial Director in Carlos who isn't qualified for his position and worked with Tidswell / Vonk at Eclipse and is involved with the security companies at HH and Angus sites.
A Technical Director who also happened to be or still is Chief Geologist (Andrew Hollis) at Angus who made the damaging decision to drill Lidsey and Brockham.
You had a Site Manager looking after production who was a Wellsite Geologist (Peter Eadsforth)
And then you have Tidswell who doesn't know his left from his right, alienated the OGA, EA, HSE, Local Authorities and is now tasked with Business Acquisitions for Angus .....when he has no experience
I also forgot to mention the Scottish Wool expert on the board as well......that will come in handy for the cold winter nights in Surrey.
Alan2017,
It's the share price that interests me much more than personalities.
I believe the share price has had a long time to react since the Brockham RNS of 28/06/19 and that positive news concerning the progress of, above all, the Saltfleetby and Balcombe projects will see the price rise, if, indeed, it hasn't already begun to rise beforehand.
Ocelote - its most disturbing when a shareholder (Tidswell) who was Chairman and then had to sign after breaking AIM rules by meeting and loaning his shares to America 2030 during a closed period still acts as King Maker....as confirmed by Lucan. Lucan was sold there to be the eyes for Tidswell.
"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"
I look forward to see how you spin this to be positive lol
YL,
I am a small, private investor in ANGS.
That is my sole connection to the company.
But I do like to think for myself and not be told what to think by others.
Ocelot,
Are you certain you are not a paid mouthpiece for the BOD... you do seem to go out of your way to defend them considering (as you claim) you have only been invested here late in the day!
Alan2017,
There are always 2 sides to every argument.
We've both read the same transcript, we've each come away with our own interpretations of it.
Ocelot,
So in essence:
Tidswell threw his toys out of the pram when Vonk caught him blatantly dodgy dealing. He has damaged investor holdings, and shattered the company's reputation just to get even.
He appointed Lucan and the other muppets are still in place... same old... same old untrustworthy ANGS... going nowhere but further down, until we see some "genuine" change!
Ocelot - the power struggle was solely from Tidswell....he no longer had control of Angus so staged a shareholder coup aka....his own account to remove Vonk.....put in a puppet who doesn't have the experience to run Angus, yet someone that Tidswell can control. After all Lucan did say:
"....fell out with Jonathan Tidswell, which is never a good thing to do"
"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"
"I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."
Lucan failed to mention in the Drillordrop article what he wrote back on 29th January 2019
"Even before my appointment, the Board was also on the point of hiring a new Non-Executive Chairman to replace the acting Chairman, Cameron Buchanan."
http://www.angusenergy.co.uk/wp-content/uploads/2019/01/Introduction-from-George-Lucan.pdf
The management you hold up as being competent is actually quite toothless apart from Mike Wells whose job is the production and delivery of the gas.
I also forgot to mention the Scottish Wool expert on the board as well......that will come in handy for the cold winter nights in Surrey.
Alan2017,
Not disputing the reason JTP resigned.
The "power struggle" came afterwards and was made manifest in the dismissal and subsequent re-appointment of Beaumont Cornish as the company's Nomad. This is an extract from the transcript of GL's interview with Ruth Hayhurst of Drill or Drop:
When he resigned, he (JTP) left his colleague, Paul Vonk, my predecessor, as lone executive member of a
board, which is an extraordinary thing for any company, and I think a very poor example of
corporate governance. He (PV) left it in that situation for many months and then fell out with Jonathan
Tidswell, which is never a good thing to do. Jonathan is not a majority shareholder but he is a
significant one. Generally speaking, a good CEO takes reasonable heed of what a significant
shareholder says and feels.
https://investigatingbalcombeandcuadrilla.files.wordpress.com/2019/10/transcript-of-interview-with-george-lucan-of-angus-energy.pdf
Ocelot - there was no power struggle. Tidswell was forced to resign under AIM rules for meeting and loaning his shares to America 2030...which when America 2030 started selling his shares crashed the SP.
Vonk and the BOD were investigating Tidswell dodgy dealings and when Tidswell saw he his share of Angus ws about to drop below 5% ...he struck with a coup. As confirmed by Angus, Tidswell and his puppet Lucan.
"At that point in time, Jonathan, the NOMAD and I had discussed what role I would come in as and it was suggested I come in as interim managing director"
So the Saltfleetby Management as you put it.....Saltfleetby is a Field....the Management at Angus is:
Lucan who stated himself I’m a relatively low-cost managing director.....It’s been a steep learning curve but I’m distinctly enjoying it."
Paddy Clanwilliam, a mate of Lucan who took a listed company private. Seems he will have experience of investors suing the company they invested in....sigh
https://www.thetimes.co.uk/article/the-earl-of-clanwilliam-the-oligarch-and-a-buyout-of-eurasia-drilling-that-riled-investors-5vtt6smfm
They have a Financial Director in Carlos who isn't qualified for his position and worked with Tidswell / Vonk at Eclipse and is involved with the security companies at HH and Angus sites.
A Technical Director who also happened to be or still is Chief Geologist (Andrew Hollis) at Angus who made the damaging decision to drill Lidsey and Brockham.
You had a Site Manager looking after production who was a Wellsite Geologist (Peter Eadsforth)
And then you have Tidswell who doesn't know his left from his right, alienated the OGA, EA, HSE, Local Authorities and is now tasked with Business Acquisitions for Angus .....when he has no experience
Regardless of winners and losers between PV and JTP, If JTP continues to be involved here "ALL" investors will lose out! He has already cost LTH's dearly and - after repeated failure and double dealing - The Market no longer trust him.
ANGS will continue to viewed with the scepticism it deserves until there is "genuine" change. The SP will not recover unless and until he's gone IMHO... and as a shareholder... I would like him to take responsibility for his actions (at long last) and do the honorable thing. The sooner - the better for everyone!