Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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This is how I see it:
Equity=Assets-Liabilities , E=A-L.
Equity Value= Shares Outstanding * Share Price=Market Cap
Decommissioning provisions "DP" are a subset of Liabilities "L".
Net Debt== Long term D ebt "pay over 12mth" + Short term Debt "pay within 12mth" - Cash & cash equivalents.
Net Debt = LTD +STD - CCE
Enterprise Value = Equity "Mcap"+Preferred Stock +Noncontrolling Interests+Net Debt
Mcap+PS+NCI= Public & Private Equity Value. Lawsuits are subset of NCI.
EV=PPEV+Net Debt
Non-Operating Assets=CCE
new CCE = old CCE + new earnings
new L= old L + DP
LS= LAWSUIT.
new A = old A + LS ,
new E = old A + LS - (L +DP)
new PPEV = old PPEV + (LS - DP)
So, new EV= old PPEV + (LS - DP) + new Net Debt , where new NetDebt= Total Debt *(interest factor ) - new CCE.
The debt is low as they've paid it off in previous years.
You can track it here: https://t.co/5LZgZ7SFMO
The provisions he's on about are NON CURRENT, and no mention of the LAWSUIT which is highly likely to cancel out said provisions!
https://twitter.com/PasajeroToro/status/1610589399024271360?s=20&t=OefZu2pbFqH9jnrFefAHpA
Agree, it seems a very good profile for the next stage of the company. Usually, CFOs are involved in M&A, I hope to see some traction on that front, companies like EDR, UJO or EOG are small, unefficient standalone companies. As iGas has one of the highest productions in the country among independent onshore E&P companies (after Perenco for sure), it could be a good player to consolidate the industry and make it more efficient
Igas needs to take these decommissioning liabilities and turn them into geothermal assets for a MASSIVE RERATE !!!
https://twitter.com/OilGasTracker/status/1607788631158030338?s=20&t=OefZu2pbFqH9jnrFefAHpA
Just what the company needs ahead of this year’s start up of geothermal with SSE.
Exciting year for IGAS and us shareholders.
RNS new non-executive board member.. Good calibre
25p sell order ends tomorrow.
28p sell order to be put through for the next month.
Major mismatch between the EV and Mcap vs IGAS peers.
https://twitter.com/PasajeroToro/status/1610277280236048384?s=20&t=s2pov-CZtPJv23h0R80SBw
Price of oil pushing $80 a barrel easy to see why Igas is so undervalued at the moment , even after opex the sp doesn’t reflect the asset base. No wonder we have a new investor taking a decent percentage.
Well it seems like the January Sales are still giving away bargains at the Igas store so I popped in and bagged myself a few more..!! :)
Happy New Year 2023 to all!
What could be a fair value today based on the recent production figures ?
it certainly is a Bargain and the reason I changed my stance and bought in
The market may have missed the latest RNS update.
I will be taking another 100k as the market opens
No brainer here
Sorry, I didn't realise that the Brent price is in USD when doing the calculations. Considering the USD-GBP exchange rate in H2 2022, Mcap is less than x1 times the adjusted net income FY 2022. This is extremely cheap!
I run some numbers using October's production and Mcap would be less than x1.5 times the adjusted net income (without impairments and reversals). October's oil production was the highest in the year with 1,732 boepd, and I hope November and December to be even higher to reach the confirmed guidance of 1.900-1.950 (oil+gas). Let's see when the issue with the management structure is solved, so the share price starts to show the true value.
How do you make your pancakes? In a wok or what?
Igas has been up Pound Mount ain before..
It will return !!
HNY to all investors here,
and I wish you a prosperous 2023.
GLA
With all investments.
Well not sure how long things will really take ‘Early 2023’ but there’s a few possibilities. Listening to the November Cornish Lithium collaboration that’s way off my LTH radar 2026 I think.
RNS mid Dec
The planning application for the Glentworth project has now been submitted to Lincolnshire County Council and we await validation. Phase I has the potential to add c.200 bbls/d and development of c.1.0 mmstb 2P reserves.
Geothermal
The joint application with SSE to the Green Heat Network Fund is now under consideration by the scheme managers, Triplepoint, and BEIS and we await a decision in early 2023.
A total of five tenders have been submitted through the Carbon Energy Fund to conduct detailed feasibility studies into supplying renewable heat to five NHS Trusts. If successful, these could result in five long term renewable heat supply contracts.
Really. It was at £1.06 in Sept
To clarify:
"If there aren't enough participants (about 10-15 investors, 2k per tranch)"
should be
"If there aren't enough participants (about 10-15 investors, £2k per tranch)"
- That's about £20k a week
- This just a rough sketch of what could be done.
- To be on target, sp needs to be around 25p right now.
I don't think a complete takeover will happen when there is too much going on in US markets.
Tbh, it's starting to looklike 2008 out there .
People have made charts of their indices that line almost perfectly.
Also, the same systemic problems still exist,
and more problems have been piled on top like unsustainable debts.
However, I think there's a good chance that Igas will disclose in 2023
that it has been buying back shares and will be until the sp reaches fair value.
I've worked out that they can do this rather cheaply & shared the info with them.
General idea is rising buys at regular intervals, every week, from April of one year to April of the next.
I think they may have done couple of purchases, but only when there are participants available
that do the same that I described before, that is rising sellls of small tranches of large investments.
If there aren't enough participants (about 10-15 investors, 2k per tranch), Igas cannot buy the shares at rising prices.
So, to fix this, some investors selling off tranches have to roughly coordinate with Igas buybacks.
If done right, coordinated buybacks could give buyers an interest rate of sorts (on average throughout a tax year), and this can be worked out to follow bond rates, so that Igas shares will be competitive with some bonds, or dividend stocks but w/o dishing out dividends in an unsustainable way.
HH: Indeed, he does seem to be what you describe, and so he gets filtered.
I will put this here for posterity: https://prnt.sc/1T_uMaZ51TF7
Why is my phone 4mins out from this site….
the tax losses may attract some interest
tp 14p for oversold bounce