Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Where is carry on regardless, gone very quiet i see. Maybe just maybe the penny might have dropped.
Yanis. I do apologise, I didn't realise the BOD have done a better job than I thought. Does any premier clubs out there want a manager to guarantee relegation to the conference league in 5 years, If so please contact Angus Energy plc.
BV, just before the coup was announced in December 2019 the Angus SP was greater than 14p (yes 14p) and was at ~12p when GL took over. Quite a drop! The SP has been sinking ever since.
gp hasn't he done well, do you agree where i'm coming from though.
Sorry Tenure
Regards to the barrow boys etc. The SP was 4p when GL took over his so called Tenue with a proper BOD, since then the SP has plummeted to all time lows. How the BOD dare to ask for options at 1.5p is the most arrogant thing iv'e ever seen. I suggest GL prove the 4p value of Saltfleetby and get options at 4p where he started. Doing this would give him resect, and he would gain financially after Lidsey and the Geothermal projects are proved. He obviously reads the poster comments after mentioning the frustration of shareholders to malcy. So George if your reading this, prove us all wrong and show your moral side. P.S. If you was a football manager you would be long gone by now.
gk regards to the assets, better not check the NAV it might make some cry.
Re sacking BOD i noticed James's comments yesterday 8am and 6pm are mentioning the AAAG for spin,and then calling the BOD misleading on every front.I have to laugh at the hypocrisy having filtered me.
Speaking of JTP, is he the one getting the 8 projects that GL would want on the go at the same time. My guess he's been told to hide in the undergrowth until it's safe to reappear.
If JTP goes GL will fall down without the strings holding him up, could we see that word requisition again like honky vonky.
JTP has to go - he's associated with all that is worrying about ANGS
After that it's tough - who would want the job? You're going to be pushing a very large stone up a very steep hill with little chance of generating enough spectacular news to lift the SP or your chance of raising significant amounts of cash in the next 3-5 years. personally I'd try an sell it to someone else for shares in the other outfit
Regarding sacking fat cats on the BOD, who would you suggest.
Ocelot. I think if a company wants to be taken seriously it has to stick to the timescales stipulated. If you apply for a mortgage the bank wants to know they will get their money back in 25 years or before. If i was lending money, i would be thinking the lender estimated 2.5m and now it's 12m because of the gross failure to correctly estimate in the first place. You go to a bank with a business plan and stick to it within reason, any less the lender sees big red flags.
Thank you for your reply, ocelot.
I will contain my view on actual progress to confirmed news via RNS now though., rather than any speculation given the very poor results over the past 18 months or so here.
News has been especially poor in the last 5 weeks leading to the current (very) negative sentiment here, and ANGS seem reluctant to address this specifically, imo, taliking about future fluff rather than immediate action.
I do still see a modest return (lessening by each official update tbf to the extent that breakeven would be a great resukt for me now), but my original (firm) exit plan for Dec 2020, will be actioned for sure if SF 'first gas' is extended beyond Q4.
I already expect another delay from Q3 due to funding and any other reason they can think of over the next 6 months, so perhaps a biased and negative view now.
Back to circa 50% down here now when exactly 5 weeks ago I was 1% from break-even (after 2 years of patience and belief in the new bod to show true change fro the old regime).
All credibility and trust for the new regime and direction lost for me now, and I think many feel the same, particularly as the bod seem either oblivious, or uninterested in the reality of PI sentiment, preferring to concentrate not even on the next big thing, but the one after that, despite zero success to date (my nod to YorkshireLife).
Balanced discussion is difficult when the majority will only look at one side of the argument and not consider a reasoned alternative, rare though it may be, which has been the majority view here for over 2 years by the majority (on either side of the fence), imo.
Last post tonight, will look in over the weekend though
Let's get this funding out of the way before talking about any more, one step at a time is my motto.
PS: these boards are polarising so do not encourage the expression of a balanced discussion of the pros and cons of an investment.
Saltfleetby has taken longer than anybody anticipated and that includes, of course, the company itself.
But, yes, I remain optimistic about the company's prospects and, if anything, have become more so as time has gone by.
Would like to see funding concluded, of course, but the positive developments at Lidsey were unexpected and, re the geothermal, let's see if GL is able to announce the "very substantial funding partner" of his Malcy interview.
Croc. as mentioned taking a step back i fully agree. I once said to Ocelot in the nicest way, IF YOU DON'T LOOK BOTH WAYS YOU MIGHT GET HIT WITH A TRUCK.
ocelot,
I note your eternal optimism when it comes to anything ukog or angs related (despite more than 2 years of serious dsappointmet with regard to delivery, or anything tangible on each), and wish you well.
Have you ever taken a step back from either though to take a proper look at the bigger picture, or is the constant defence just an auto-response now?
For me, as you can no doubt tell of late, the balance has firmly shifted towards the negative aspect here now, I see nothing positive to get behind in the next 6 months (based on current, expected Angus timelines).
I don't know who it is that Gall is accusing me of being, but whether it is spelt with one S or two it is insinuating that i'm black so therefore a ****** remark. Gall doesn't know the colour of the posters skin when making that remark so skating on thin ice.
You're surprisingly trusting then, ocelot.
If you are right, given how repeatedly wrong George and his BoD have been, I'll offer 3 possibilities:
George is either:
Crushingly naive and inexperienced
and/or
Serially incompetent
and/or
Unbelievably and consistently unlucky.
If however your faith is misplaced, other possibilities arise.
Crocqman,
I hear what you are saying, but judge less severely than yourself: believe the timelines provided by the company have been to the best of their knowledge at the time they have provided them.
Gallifreyan,
Rastuss is one poster I did filter fairly quickly. I did so when he spent his time in exchanges with MichaelG which they seemed to consider entertaining and I found boring.
The result is that, if he was to return to the board alone under another name, I might not recognise him!
Croqman- There is not the remotest doubt that the BOD led by GL deliberately misled the shareholders about the severe costs escalation. Equally, there is no doubt that the misled on the funding too in terms of timescales. The incompetence of the BOD is unbelievable. However, sp drift or not, the matter of funding is at the business end and will be closed soon. It should be this month. GL should sack some fat cats in the BOD if the funding is not closed by the 24th this month. That's full two weeks. All these costs and time overruns are not acceptable-Period.
ocelot,
Putting the amount of funding required aside (compared to original estimates), we were led to beleive by GL that we would get an answer before the end of Jan (comfortably within the 90 day exclusivity period). on this requirement
On the 25th Jan (RNS) we were then told it was expected to be completed in 2-3 weeks.
This was quickly followed by a placing, which for some reason excluded a TR1 holder, so we had another one to allow them some 'cheap' shares too.
Then on 22/02 (RNS), we were told there was an 'expression of interest', also with an exclusivity period until 5th April. and GL was advising on the call (from memory) that he 'hoped' all would be in place by the end of March.
Of course the funding will take the time it takes, but to keep giving the investors 'achievable' time frames, which then keep moving ever further down the line, does not look good.
5th April, btw is Easter Monday, so I sincerely 'hope' that GL will be pulling an Easter bunny out of the hat on this.
Sorry to say, but I can see the SP dropping even further from where it is now if this latest funding deadline is missed - 50% down on the SP high 5 weeks ago with added dilution too.
Hard to see how this aspect (finance) can be defended tbh, especially as the timeline here is having a huge impact on the timeline for first gas, which I was conservatively expecting to be end December, Jan 2021 at the latest (on Angus guidance).
I am sure we will have to agree to disagree though