Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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thanks lucky dog - all the best to you and your investments too.
I have everything crossed for hur !
Lol that's hilarious LuckyDog1. I'm not stopped you buying more here, but you're deluded.
Here's the extract provided by BOD in latest update of two scenarios - both ends with "limited or no value to shareholders"
"Update on Stakeholder Engagement
The Company continues to engage with an ad hoc group of its convertible noteholders over the Company's forward work programme, strategy, financing and balance sheet recapitalisation. It should be noted that there is a risk of significant dilution to existing shareholders from a possible restructuring and/or partial equitisation of the convertible bonds and of potentially limited or no value being returned to shareholders.
If no agreement can be reached with the Company's stakeholders on additional development activity at Lancaster, the field could continue to produce from the P6 well before reaching its economic limit, the timing of which would depend on oil prices, actual production levels delivered and the level of cost savings achievable. The field may then be decommissioned, with potentially limited or no value returned to shareholders."
luckydog - i am a disgruntled old investor. however i hope the company turns it around as i would be very happy to re enter once forward plan/ finance is sorted and there is some picture of hur going forward from this.
i doubt a handful of realistic/ negative posters on here make any difference to sp - though i think any new investors are owed the polar view from 15p by friday etc!
i waited all 2020 - figuring by the law of averages a good rns had to arrive at some point.
good luck to all invested
And on the top off all problems Oil price goes down., Issue is with supply and demand again,plus Iran looks like soon getting in bussiness..analysts are saying price soon will be back 45-55$
Looks real game over for HUR
"positive light here soon"
"positive new about CA Kore or refinance with next update"
Some never learn.
None of this will matter when there is a significant dilution to existing shareholders or when HUR ceases trading because of no said significant dilution.
It's one or the other. Both bad news.
there might be some positive new about CA Kore or refinance with next update
Mr Angle
I’m afraid your partly right and partly wrong. Yes at the current rate of production, assuming the poo stays high and that the water cut behaves itself then they will likely have enough to repay the bond early next year. However, that will take all the cash. They need cash to post decom security 21mn plus as the actual cost of decom is ~35/40mm then they will need to have the extra cash to actually pay for the work (they could borrow the excess ahead of the tax rebate for the govt share) plus they need to get going concern sign off by the auditors. We know at $50 and no further work the economic cut off is January, at $60 it’s probably got another 6 months or so depending on well performance. So in January they’ve pay off the debt and hold 21mn in reserve for decom, how do they drill the sidetrack with no money? Borrow it - who the hell is going to lend them money after this fiasco? They will be within months of the end of the economic field life, unless they drill at a cost of 70mm? Plus... who’s going to put up the cash to do that? You say it will have 16p of value, that’s £300mm are you serious?
If PoO continues the bullish trends predicted by most analysts, HUR with it’s increasing net-cash, can easily repay bondholders before 24 July 2022 and still have cash/assets left that will be worth north of ~16p+ at the very least, and if the BOD also actually decides to do some positive work for a change, then likely much more than that, DYOR.
For all the doom talk , only 7-8% traded, and a large part I suspect was churn. So , say 5%. A lot appear to see cpr baked in and value above current price