Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Big buys. Good buying opportunity at this price. I expect it to trade in line with PoO until late April when the Ithaca buyout is finalised - or not as the case may be.
More delayed large buys gone through over 2.5m shares. Further Oil price weakness keeping this down.
Noticed that Nexen farm out...IMO we got a good deal in terms of what Nexen cover the full costs of the associated work programme including acquisition of seismic data and the drilling of an exploration well - very little risk for Faroe.
Very quick farmout of the irish licence to Nexen. Keeping 20% is fine, but we are of a size now that I was expecting more skin in the game, or why bother applying for the licence.
Not bad reading. Slight increase in guidance for the year and a few other bits of interest. This is a well managed company able to withstand this unpredictable oil market.
Another £1.1m buy reported from last week someone accumulating.
Prelim FY results tomorrow. Sadly the oil price is looking bearish and so SP movement will be reflected by this.
Yeah, I did think it might be Vlad topping up ;-)
someone is picking up stock on the dip. If this stays below £1 and the price of oil stays above $50 then this is a sitting duck for someone to take out. Any further buying in the market by Dekek would generate interest here. One to HOLD tight for now or you wake up later in the year with a £1.75p bid on the table and no place set for you.
More delayed trades from this morning. 1.1m buys. FPM is a great company, with the one drawback that Mommir has previously raised, that they persist in issuing equity to make acquisitions, instead of using some of their very large cash balance and/or debt. It's been a bit unnecessarily dilutive for lths I feel. Having said that FPM is a core holding in my PF, and I intend to significantly increase the weighting towards FPM. If Delek haven't made a move by Sept I may reconsider, but there is a good chance they will come.
Thanks Mommur and OLI12. From what you've said it looks like the share is a keeper for a while. Its good that FPM has other interests to pursue and the possibility of a powerful Israeli contender, that already holds 14 pc, as a possible contender to take over... the future is hopefully looking brighter.
Please don't take this as a negative view on FPM, as I am a long term holder since 2008, on a core holding, which I have added to over the years. This is a very well run company that has increased its market capitalisation from circa £70 million to where it is today. Unfortunately macro events have seen the share price rise from the 70p range to just over 200p and a long decent down to circa 50p, before recovering to the here and now. On occasion I have had replies back from FPM, regarding the disparity between MC and lack of movement in SP and perhaps market forces this cycle will feed through into the share price. Now Bone is out of the way, focus will be on infill and assets this year, so in my opinion only we should see some upward movement. Don't disagree with anything OLI12 has commented on. FPM is adept at buying assets, so it wouldn't surprise me if another deal was in the offing. Good luck - hope that helps but DYOR.
The SP of Faroe in the short term will be heavily influenced by the price of oil and any success / failure with the drill bit. Over the longer term I do feel Faroe could be vulnerable to a take over by Delek. IF Delek purchase Ithaca which will value them with debt at circa £1 billion then this is VERY undervalued. It will be interesting to see if Delek buy more shares while the price is below £1. All IMO and this does not constitute advice however if you take a long term view this is cheap. ‎
Hi All, please advise. Given the results of the Bone well drill. What's your prediction with the future of the share?
From the 13th someone bought 1.6m shares. There is a buyer here accumulating stock in the last week.
The dry Bone seemed to be priced in. The price dropped into the late 88p territory this AM - BUT support quickly appeared at these levels....NOTE that Delek paid 89p for their shares late last year....will they buy more in the market? I fully expect a T/O here in time it would merge well with Ithaca's assets
the drop yesterday clearly pre empted this news.
62 days into an estimated 55 day drill... news is due imminently.
the market has turned very bearish on the price of oil following last weeks surprise price drop. This has caused the drop here. Only a positive drill result on BONE will prop this UP now - otherwise the SP will slip further. One wonders whether Delek will buy more shares should the price fall to the level they paid for Dana's shares befroe Xmas (89p i think the price was). This could fall further and a paper loss is always HARD to stomach.... in the short term.
Has this share gone down? Not pleasant
Yes, I quite agree Oli12. Maybe it had something to do with Sturgeon's helpful proposal to start another round of political instability on the possibility of Scottish indyref2. Thank God Faroe's in the Norwegian sector.
Well the apparent "CHEAP" take over of Ithaca is for circa £500m if you include debt this figure is circa £1 billion. I think Faroe has much better potential in the longer term in terms of assets, licenses and reserves. Faroe is currently worth £350m with no debt and £100m in cash ... if you offered £2 for this it's still less than the "cheap" Ithaca deal!!!!!!
Hmm, just clocked this. Almost ten time more buys than sells, and price down by over 3%. Something smells fishy. Like Delek swooping in for another cheap steal. God, I hope not.
some nice large buys today of 1m, 1.6m and 500k shares.... someone keen to get in on the dip. Drill news due on BONE shortly.
Have a look at the price of oil and you will see why. Long term this is a great investment however it will be dependent on the price of oil. News due on the Bone drill which should be finished shortly - hopefully it's positive or else thus will drift further.