Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Agree - money has been sat in Bloe while the world around has been multibagging. Total waste of time.
I will continue to wait the 3 months I think we need but frustrated to see my money do nothing . I have my first bag on pred and there is mixed joy as it reminds me how stagnant my money is in bloe.
I tend to agree BB - schlumberger won't let asset strip happen. If needed they will put someone on the board.
Past repetitive behaviour.
Why is everyone so convinced the scottish contingent want to take over bloe and asset strip it, my opinion is that they are just collecting as many shares in it as they can, as are we.
Tell you a story ; invested in Loopup at 52p couple years ago and in that time went upto 252p and my £1700 pound investment was worth £7k plus. Now worth 84p so what happened in November last year a trading update came and was a good update from a multiple pond loss went to clearing nearly all its debt from around to £10 million to £0.7 million net profit of around £6 to £7 million. So why the drop yes there was a negative in the report of Non PS to 14% and not a major drop but PS increased , the new way so ARR was near non existed early last year and now accounts for over 50% of turnover the rest in Pay as you go.
The drop was caused by two factors one Loopup own broker which they dropped , second was two companys that merge but one had Loopup shares the other did not.
Why does that matter well one company had shorted but the other went long , so is locked in.
Back in November the amount of shares did not compute as the amount sold could only come from a TR1 , but hang on no TR1 sold ( share sold amounted to more then the TR1 and Directors holding ).
The CEO put in a compliant and since then nothing.
Since added , but the point is its a game and we can do nothing but hold true.
Shares sold or transferred does not mean weakness in a company its what going in the background.
No disagreement from me Thordon .
The whole system is full of holes . There will be many other means of `Averaging Down` , some just about legal , some blatantly illegal . Unfortunately the authorities are under resourced , under equipped and overwhelmed to deal with these sort of practices , particularly with piddly Aim Companies and especially with Companies operating in overseas territories and I imagine a tiny operation in an ex Communist Country will just never make the cut . Even the penalties ~ IF caught `~ are hardly any deterrent .
I have no doubt that the BoD WILL know what`s going on , but what can they do about it ? The cost of legal action v`s CoS will probably negate a response , their best course of action will be to get the business operational and profitable and get on with it as quickly as possible , which is what we hope they will be doing .
We can of course always hope that there`s a white knight lurking in the background . Then of course we have the Gazprom problem . I would have thought that Gazprom would not be too pleased about the success of any Company in Georgia disrupting their Gas sales , but that raises another conundrum ~ Gazprom may be the perfect customer for a party asset stripping Block .
Bottom line , imo , nobody really knows what the hell`s going on and that certainly includes myself .
Six weeks PH ~~~ Six Weeks , and please no more spivery !
Transfer of shares , so a company owns shares sells the shares as a transfer to another fund that is own by a friend.
No money changes hands and repeated but not back to the original company as this is illegal unless part of a loan agreement.
There lays the catch loan agreement which party B loans money to Party A , security of shares.
If there is a party that acts in conjunction with no legal ties in this dealing the share price can be adjusted for gain or loss depending which each party agree to transfer price as security.
Many loop holes that need law to stop the practice.
You may notice have not mention this is happening within Block Energy.
So have looked at the comment from this site and others from today
" dissappointing day...it took them 40 mins to fill my order this morning,something definitely corrupt going on"
"Same old story as soon as we get near 3p the selling starts over 4m in block of 200-600k"
"150,000 share limit at market close Friday. After hours 1.2 million buy at full ask. Stock will be very tight. #BLOE"
"John I'm having the same trouble using degiro.
Put an order in for SHOE and BLOE and still not filled."
"put an order in 20 mins ago...still not been filled...useless twats!"
See the pattern
Good post Spudsoil .
I feel I`ve been somewhat duped ~ Again !
Two positive updates , 100k purchase and then the rug pulled out .
I`m going to stay put in anticipation that the updates that we will get on 16 / 38 and Gas sales in May will eventually make this
18k Mkt Cap look totally ridiculous , which it is .
Iirc ~ I accept that there have been many fundamental structural and financial changes over the last 18 months , but when PH bragged about 10000 Bopd we hit 17P , now 44000 in Q1 and we are c. 3p . So many of the problems facing this business are a direct responsibility of the management by PH . His only claim of success , as far as I`m concerned has been the Schlumberger deal , otherwise his tenure has been a disaster ~ as far as I`m concerned .
One way or another , either through takeover or a valuation advance based on asset production and revenue , this simply has to move the sp sharply northward . I`m going to wait another six weeks or so to re-evaluate .
I don`t care for this Company anymore , but stubbornly I want a return , preferably through organic growth , but any takeover is likely to double the sp and will be a signal for me to dump it .
I should know better , never invest in a Company where you don`t trust the CEO .
( Also ~ should a T/O ever materialse , I certainly would NOT trust that `Concert Party` to advance my interests !)
VGLA .
Indeed, the RNS was very disappointing after the director buy. I'd assume they are cutting back somewhat to prolong lifespan. Makes sense if there's more profit in the long term, but I was expecting a positive rerate. Which begs the question of why the director buy at this time?. The time to over deliver on the next couple of drills is here.
Spud, I basically agree with your post but not your conclusion, I am firmly of the opinion that the next reported figures from WR38 will be less than many expect for one simple reason, the use of the word AVERAGE in the RNS.
The February RNS quoted ACTUAL flow rates prior to 16th February.
The April RNS quoted AVERAGE figures over the total period of production.
The April reported figures were LESS than the February figures therefore at the end of March the ACTUAL flow rate is more than likely to have been LESS than the reported Average figure, if that makes sense.
Sorry, you probably did not want to hear that but that is the way I see it, but please DYOR and try and prove me wrong.
Agree Spud, and it should be clearer definitely but I am with you 100% that they have learnt from the past and even the 2 drills coming, they are underegging the potential flow rates so they make sure we exceed them and 16Z I am highly confident it was taken off line because the new drill manager was saying this can be reworked to get better results. We'll be motoring on in 6 weeks - everything is in play and costs are 95% covered. That's what is frustrating here, ongoing costs are covered, the next dril will add 15,000 bopmonth so circa $900,000 in revenue - we'' be profit making and still have cash reserves for 2nd drill.
It’s a fundamental part of communicating with investors to signpost contentious or potentially contentious areas. So singing from the rooftops in Feb about improved flow rate and then leaving us guessing about how the shortfall reported last week is made up, id say that’s pretty poor. Ever sinde we’ve had knowledgeable investors on here trying to work it out - that isn’t their job, it’s the companies job to do that. As it happens I have a strong suspicion that the next reported flow rates will be healthy and beat market expectations, so I’m typing this in a confident mood but frustrated that the company seems incapable of communicating better.
I meant too much guesswork? Isn't true. There are some holes but they will be filled in time.
Too much guesswork - think we have plenty of stability with oil and gas now. 16Z may happen, might be a flop but we have 2 fresh drilla that can add gas and oil to the play. Could be another 1000bopd.
Quick cals triple the sp easily and the rest.
Still interested though aren't we WB? ;)
Dead Duck? don't be quackers!
Just saw it pop up on the feed thought i'd check out how it's doing, nothing has changed.
WB, why are you back?!
Dropped this a year ago bought PRD best move ever. This is a dead duck im surprised anyone is still here..
I’m frustrated too Tony as are lots of investors I’m sure. I think the next update is absolutely critical. It should contain an update on flow rates for 38, plus remediation updates for 16 plus the other stuff they are playing with. We then enter a new drilling season with a understood cash flow position. At present it’s too much guess work to determine what our current/ future income stream is (excluding new drills) and I think that prompts sellers. They continually make a mess of communicatiing what should be simple updates, so it’s unsurprising that commentators such as Malcy jump on those updates and put their own spin on them. What we need to know is our cash flow position and if we can’t know that, we need it clearly spelt out what’s preventing it. I’ve said it repeatedly - the communication strategy the company use is poor, that coupled with distrust of CEO means no momentum (yet). Stable healthy flow rates changes sentiment
This is getting stupid now , frustration and disappointment is really getting the better of me now.
I'm going to buy another 2m shares - that'll get things moving....further down no doubt.