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Thoughts on dividends vs buybacks at this level? I would prefer buybacks right now!
Buy backs have been banded by this board for 6 years and never happened...!
I heard Martin in a presentation that they would look to see what is best at the time in future Im sure
There will not be any Buyback.
It does not fit this Business Plan.
The money will be better used in expansion. Much expansion and prospecting.
I Remember BP Oil doing it. All it did was to artificially raise the SP, for a while, take a look at where they are now, back down.
Hi Mr Bond, I well remember being invested in BP, utter pants of a company , very poorly managed, they too failed to managed their contractors properly and it led to the Gulf of Mexico Deep Water Horizon disaster The oil spill response plan that BP submitted for all of its offshore operations in the Gulf of Mexico would be laughable if it hadn't led to an environmental and economic disaster.
The plan talks about protecting walruses, sea otters, seals, and other Arctic wildlife that don't live in the Gulf but contains no information about currents, prevailing winds, or other oceanographic or meteorological conditions.
The plan also listed a Japanese home shopping website as a primary equipment provider. Yet BP claimed its plan would enable the company to handle an oil spill of 250,000 barrels a day—far larger than the one it so clearly couldn't handle after the Deep water Horizon explosion.
https://www.liveabout.com/deepwater-horizon-facts-1203711
BP also had its pants pulled down by Putin and co , they didn't like good old Bob Dudley, well he was a Yank and an utter Toss Pot!, so BP and got kicked out of Russia!
Yes MrT .
I clearly remember all of that tragic fiasco.
And remember the Contractor mainly responsible for the emergency , the emergency shut off valve not functioning.
Who made it ,Halliburton.
There fine for them was minuscule , because of links and friends in US Government and being a military contractor.
The American way.
I notice some vicious selling going on for CEY, or is it shorters .
Disgusting reaction by the market to what is a solid and expected update, against the background of a rising POG.
Looking at the SP I would think Traders were selling off today. Having bough in the last week, hoping for a quick profit. But it didn't rise enough for them, so they got out quickly.
I may be wrong but traders are only interested in quick trades, no patience and not interested in divi's
Listening to the presentation, during Q2 they had a 10 day shut down which was going to happen in Q3 . Hopefully we see a better Q3 than expected because of this.
Lukee the SAG MILL of which their are two needed the teeth that rotate the large drum repairing.
The SAG mill is primary crusher before entering the Ball Mills which crush it to a finer recoverable dust for separation of gold from the material.
In Cornwall in history the crushing was done by women with hammers called Bal Maidens.
So yes there may be an improvement in production, as the Ball Mills (Fine crushing) were refurbished last year.
A horrible hard life, nothing glamourous there, poor souls.
Let’s see if we have any new broker estimates after the analyst’s have had chance to digest the update. F
Hi Mr Bond, yes you are right of course about the American way, (screwing the UK just as they have always done at every opportunity since the first colonies when they wanted the UK to provide them military but didn't want to pay any taxes to pay for the cost, it continued on from there to the present day!)
Yes , Haliburton , up to their necks in just about anything bad that the US foreign policy and
military have been involved in!
Although to be honest BP due to cost cutting were lax in their monitoring of the contractor!
The GAO found that the offshore oil and gas industry has left behind about 18,000 miles of inactive pipeline in the Gulf since the 1960s. While federal rules require removal of decommissioned pipelines except in special cases, the GAO found that 97% of pipelines have been allowed to stay on the seafloor.
“Such a high rate of approval indicates that this is not an exception ... but rather that decommissioning-in-place has been the norm for decades,” the report said.
It’s unclear how many of these disused pipelines still contain oil or gas. The BSEE does nothing to ensure cleaning and decommissioning standards are met, and conducts no inspections once pipelines are abandoned. If pipelines are later found to pose environmental hazards, there’s no funding dedicated for removal, the GAO report said.
Environmental groups praised the report.
"The oil industry needs to clean up its messes in the Gulf of Mexico and stop making new ones," said Miyoko Saka****a, oceans program director for the Center for Biological Diversity. "This report shows how corporations profit from polluting our water and air, leaving the rest of us to pay the price."
https://www.nola.com/news/business/article_5b1a1e00-a129-11eb-8674-ef37cc4fd078.html
Hi Mr Bond,
You may well recall they bough an extra crusher in the past, are you taking this one into account ?
As far as I remember there are 2 SAG mills and 4 or possibly 5 ball mills.
A crusher may be a contra rotating with two separate drums of teeth or a jaw crusher to crack any material smaller before it enters the mills .They must have more than one certainly because they take heavy punishment with especially quartzes or granite .