Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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willec
Agreed. Back to Galloway with them!
Oultonmike
I wish! I have had very little time for trolling in between packing for my holiday and associated chores.
Trools not wanted here. All I know is 10p by end of 2020 as a minimum - looking forward to the spud
Interestingly, 93% of Spreadex clients with a BPC position are long. There’s having unanswered questions and then there’s being one of the 7%!
Not for me.
keith1
You have a point there - when the macro outlook is less than rosy something that offers hope value and plenty of news flow can hold up very well compared to a known quantity like a bank or airline or the like. This is one of the reasons I piled back into ORPH the other day.
dubed
Again, it’s not about an entry price so much as clarity on funding. I was happy enough to take a small position when BPC was at 2p without having that clarity, but I knocked that on the head when the macro headwinds started blowing again. My fun portfolio is pretty fully invested in pharmas, gold miners, new tech and other O&G right now, so I will not be making room for even a small position in BPC without such clarity. But even if a substantial placing was announced on Monday, I’m not sure that would ultimately prevent your pre-spud bag (given the clarity that such news, however unexpected in some quarters, would bring).
dubed - some have suggested that rossannan trained as the mole in Whack - a - Mole machines - you've got to admire his stamina - the other trolls have run out of steam !
Dubed, as SC has previously mentioned there are several options for funding. Placing would obviously lower the sp but from where to where? Any JV or farm in would likely see the opposite and therefore sp rise ahead of spud. My personal take is that there won't be a placing. Each to their own.
Ross, indeed. So your concern is that one or any of the options put in place for the remaining funds might not materialise and that there will be an additional placing - such that as we approach spud this would mean the SP would fail to acheive 5-7p? It's a reasonable conjecture, but my chips are on a doubling of the price as we move towards spud. Good luck with your entry price, and fair play.
dubed
What are the options that have been secured at this stage, apart from BPC’s diminishing bank balance? As far as the market is aware that bank balance is the only option under BPC’s control. The other options depend on third parties deciding to play ball - Stena, Bizzells, the Family Office. Of course, BPC can always use the AIM ATM, which I am sure Stena appreciate and which may have facilitated today’s RNS (an RNS which in turn facilitates any such trip to the AIM ATM)...
Ross, with respect we are drilling, they clearly have the money otherwise they wouldn't have announced the date! Watch this next week when the II's start sniffing around and the MM's can't satisfy demand, then it will get interesting and you will have missed out massively, just saying.
Ross, now you see if you'd asked "where's the other half of the £25m from, in terms of the options we have secured" I want to chat with you further, and even possibly share in your thoughts and concerns. But you didn't, did you. The spud is on, the icemax cometh. You might get your lower price, and fair play if you do. But not from me.
dubed
Asking "where's the $25m coming from?” is not about deramping, it’s about the information necessary to weigh up the balance of risk and reward. That’s what I’m holding out for, not a share price.
Ross, agreed, the next one needs to be about which of the options for the remaining funding they are going with. But when you come out with thing like "where's the $25m" coming from, we start to move away from having a discussion into the arean of deramping. You know, I know it. We also know that the spud is on, in less than 3 months. So me and you also know that farting around trying to get an entry point much lower than 2.5 will look a pretty stupid move by then.
NellyB
Is that not more about the distinction between fees paid to Stena and expenses borne by BPC?
Problem is this could hit 10p in the mean time. Easiest way to raise the funds is to rocket the SP.
Oultonmike
No doubt they can see the funding, but the market is still waiting. As I have said before, the question is how, not whether.
dubed
I have missed a couple of great trading opportunities, certainly, but I have read all the RNSs and it is crystal clear that the next one needs to be about funding.
formal notification from Stena Drilling,
Would they give "formal notification " if they couldn't see the money? NO!
Wombles are short
Are you new to bpc, have you not kept track of the various RNS issued by the company since March? The company even half of the amount in cash. But surely know that, as you have been pointed to the specific RNS on many occasions. Look, I'm sorry that you mistimed your entry but, as I said, you still have time.
dubed
So where is the $25M coming from?
"where is the $25M coming from?"
Naughty. Missed the old icemax potato boat, did we?
There's still time you know.
jimtheknow
“Speculation now should fall on not whether the Company can fund this, the chances of this are diminishing by the day...”
As you know, speculation has long been about how rather than whether the drill would be funded. Mine anyway (and I haven’t seen any other posters speculating about the drill never being funded).
Have you any spare socks?
Funding is in place the optionality to view others as well. I couldn’t careless if I’m brutally honest, be it farmin, JV with Stena, equity raise, placing or open offer. All are there and options are clearly defined.
We have our drill ship and spud date. The rest is nailed on imo.
From your mouth no doubt, we all no what comes out of that!!!!