Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Trading at c3x cash flow and offering a7.5% yield, I think the dip will get bought in to.
Plus, of course, all the expo & appraisal upside
Surely a dull interview cannot be the cause of such a drop when there was a lot of good news in the release. From my pov the hedge is a good thing. We're missing out on very little at the moment, and if poo drops below $62 we miss out on nothing. To hedge at such a high value is a great idea and supports the sp base, which we all know should be circa 13p at the moment. One also needs to keep in mind they haven't yet hedged 50%, and will still benefit from spot upside when they do. I personally see this as a reason to invest, not to pull my money. They need to get on with sorting the divi then focus on the f/o. Once they get these balls in motion the divi is a reason to hold onto your shares every quarter and supports a 5% yield at 12p (at current payout level). And the exploration upside of the Nth Sea becomes a matter of when, not if. Once sorted the exploration value will then be reflected it he sp. If they can sort these two thing in the next 7 weeks then I think we're in for a very strong H2. Certainly far north of the current sp. GLA
Doorstep
I agree, divi yield lookin very attractive now.
isnt the drop here general market related and not unique to i3e so much?
GGG,
One of the things that has changed is the hedging which may not have been priced in. I'm not sure how good the hedging is with respect to current prices.
WTI = $64.5 subtract $4 = $61.5 (i3e's realized price approx) Hedged Price = $57.7
Henry Bub Nat Gas = $2.91 Hedged Price = $2.34
Were loosing about $3.5m on hedged v unhedged at a time when perhaps the market was expecting prices to increase or at least hold steady. That said, I think were still undervalued. We need the annual results so we can see all i3e's cards.
Can dummy sell 500k shares on HL at 8.57p, so looks like there is a lot of support around that level. Hopefully that’s the bottom now.
snudge1234, your spot on there.
Cmc
Looks like some got spooked after seeing the tsx, that will recover too.
Fundamentals are sound, it was the right thing to do to hedge some oil. Note holders probably wanted that for divi to go ahead.
Maestro,
Good point - I could not understand why i3e's had not got Creditor approval prior to now for Balance Sheet Restructuring / Dividend- its quite possible that there were differences on the level of hedging that took a while to agree.
I agree hedging was sensible and is what they said they would do - how good the hedge is depends on the price they hedged at and what percentage of production.
Tony who said annual results by end of month?
Maestro,
I cannot say - some here get offended - lets just say a well informed little bird !
Lol tony...
So we know where we are with i3e. Graham has said the circular will be out very soon so divi can be paid.
Bit disappointed with why noel is taking so long to come online but hopefully next year. Current mkt cap 64m looks good.
Edit: next month.
Not next year.. lol
I am pretty sure that the end of May is the reporting deadline set by AIM.
Hedging is not cheap in a rising market. It should be done at different price levels and managed. Gas is hedged with AECO strips not Henry Hub. I have no problem and don't understand concerns with the dividend. I've been adding but would still add Ex divi as the market adjusts the sp for the divi payment, otherwise investors wouldn't buy Ex divi: would they? Market down 2% today on inflation worries.
Don't know how this fits with the Canadian reporting requirements, being dual listed etc.
https://www.fca.org.uk/firms/regulatory-reporting/changes-regulatory-reporting-during-coronavirus
Shaking the Tree all the way down to 8p.
Enbridge Line 5, currently delivers 540,000 barrels per day of oil and other petroleum products from Superior, Wis., to refineries in Sarnia, Ont. The pipeline is a part of Enbridge’s Mainline system that brings roughly 2.8 million barrels of oil — more than half of Canada’s total production — from northern Alberta to the U.S. Midwest every day.
All of the jet fuel used at Toronto’s Pearson International Airport is made in Sarnia, and distributed through Line 5. It also carries propane used to heat homes in northern Michigan and Ontario, and supports thousands of jobs on both sides of the border.
Enbridge have been ordered to shut down Line 5 by the 13th? Enbridge has said it would not shut down the line at Michigan’s request and has appealed the order in U.S. federal court.
The Michigan order would effectively revoke a 1953 easement that allows Line 5 to cross the Straits of Mackinac, a narrow channel connecting Lake Huron and Lake Michigan.
Canadian officials have readied a number of potential moves should the shutdown be enforced, including a plan to invoke the 1977 Transit Pipelines Treaty, an obscure agreement designed to stop either Canada or the U.S. from impeding the flow of petroleum products. The Michigan Governor is a close ally of Biden. Might think it's comical but this is for real and Biden not doing much.
I liked the interview. Some new information information, and some what to expect going forward. No reason to hate on them just because they're not pumping the stock. I am actually happy they're staying professional and conservative. Clear to me that many people here are looking for a quick 50% gain just to sell. In 3 years they should quite easily be able to generate C$100m in fcf. At a cash flow yield of 15%, share-price should get to C$0.8. Assuming oil prices stay flat. North sea assets are just a bonus at this point