Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Nice day of consolidation waiting for the next move up.
Orslega - really hope so. Lots riding on their ability to deliver something tangible that will impress the big hitters and bring confidence to old and new shareholders.
SP ready to go !!
Hydrocarbons Mexico @HCarbonsMex · 1m1 minute ago CNH & Sener & SHCP, announced changes to the contracts model and bidding bases of the 4th call of Round One. http://ow.ly/7Q9S302MOLc
Almost as though someone knows what they are doing!
Oil prices in Feb 2016 were around $30, so maybe with much current higher prices, more flexibility/interest in non core assets...... ......currently, even today's prices, a lot of capital tied up in non core which would otherwise available for working cap... if JW not going to spin out non core into new vehicle, a sale of non core assets makes sense.....but not at fire sale prices...
Looked up Jay Wettig: still says he is looking at a transaction with Questex. Doesn't appear to be any update.
Wonder what has happened since February.... "Over recent months, the Company has been in discussions with various parties who have expressed interest in acquiring its Oklahoma Portfolio. Due to the current oil price market, the challenging financing backdrop for E&P companies, and the presence of many distressed assets owned by large public shale companies, the Board recognises that achieving an outright sale at reasonable values is challenging. Therefore the focus of the Company has shifted toward discussions regarding a joint venture to bring in outside capital and expertise in the development of mature oil fields. These discussions are continuing and the Company looks forward to updating the market in due course. With this in mind, Northcote has appointed Jay Wettig as Vice President - Oklahoma Operations to focus on maximising value from the entire Oklahoma portfolio. Mr. Wettig has extensive experience in delivering operational and financial improvements in a number of industries including oil and gas, manufacturing, logistics and consumer related businesses. His focus will be on: Cost cutting and restructuring of the Oklahoma operations to significantly improve the production and financial performance of the assets in the current price environment Continued exploration of exit opportunities for the non-core assets Evaluation of partnering opportunities and development plans at Zink Ranch
NCT do not have any bank debt (any financing as we know has come via placings) - they are planning to be EBIT positive near term if all goes as planned at Shoats Creek - so hopefully no bank debt is required. Certainly the CPR at SC will be getting better by the day if the workover results are anything to go by. An enhanced CPR opens financing options but that might be a little premature. Not forgetting that he Remediation Plant is also earning as we speak but we have no details. To many unknowns. So I expect any operational update will cover off many unanswered questions including financing etc etc
do we have the backing on the Bank ???
peterz, here's hoping this week it is (I thought we might hear something last week.......Nomad being usual stickler for paperwork I guess, plenty of checks) Any potential new Board will want to (and need to) hit the ground running from the outset.....I expect that will include a full operational update, Shoats Creek, Mayan Remediation Plant, and near term MX oil services opportunities. IF as is heavily rumoured "fast Eddie" is to be the new CEO I have no doubt Mexico is where Northcote will be majoring. Dotting the i's and crossing the t's as we speak. As I have said before this is a plan which I believe has been worked on now for a number of months. Best for the new team to get it absolutely right for the re-launch and make the necessary impact : ) Tick tock...
We could certainly do with knowing we have a stable, effective and well connected Board that does something that impacts on sp. This week maybe!
Some good news this week will start to put an end to some nay say'ers.. Consistent news flow should follow.. Not long now..
Rachelsdad - "If I didn't know I would guess he was on a bonus for every de-ramp he make" lols you might want to think that one through. Shares like this don't need to be deramped, they deramp themselves purely on performance, on lack of income, on CEO actions, mass dilution and SP decimation. The charts and facts don't lie. Who would pay money to deramp an AIM diluter? It would be like paying someone to go and convince the public that they are paying too much in taxes, utterly pointless. I rather think your focus should be on those relentlessly promoting the share, averaging 10-20 posts per day, every day. What kind of employer would be happy for their employees to sit there watching share chats boards and news sites all day? Hmmm
Helpful - re BC - pretty certain that the stakes have been raised since May; do not expect him to be in the front line / much bigger hitters coming on the nct board ; ) imo
I don't think Mr M has weekends. He says the same things all day, everyday, 7 days a week! If I didn't know I would guess he was on a bonus for every de-ramp he makes, so why would he take a break?? Poor chap needs to be let out more!
Well, there's no arguying as to where the company is now.. So on that point your right. However, what's done is done and if - when RC steps down we should see a new Northcote, a new team and hopefully a new direction for us.. With the SP sitting on the floor, there's only one way we can go from here.. But no doubt some will say otherwise. Ok, sun is out, so I'm out.. Have a good weekend.. To you too Mr M :-))
I wish we had you around banging on about placings everyday with repetitive posts when the share price was around 1p.. Perhaps we'd all have saved a lot of money and we'd all have liked to have had your babies! :-)) Most of us holders are running a loss ATM, but you are feeding off others misfortunes.. Very sad, very sad indeed.. Eventually a placing will come and you will have your day..
He has some good points. No more placings until profit is shown. Costs need to be cut. Randy has run the company into the ground. No planning just issue more and more shares at a great costs to long term holders. It could have been avoided if he wasn't just a deal maker and not a good one at that.
"..Sometimes difficult decisions have to be made " lols You mean like : "where are we going to get $808,000 from for management remunerations?" "where are we going to get $4.3m from for Other Administrative Expenses?" I'm sorry but you can't be taken seriously. If devastating placings HAVE to be done, then the company is not being run well at all, and certainly not for the benefit of shareholders imo. The March placing raised £450,000 via issue of 1.4 billion shares at a 33% discount to the SP. The key management remunerations alone last year were $808,000 or circa £611,000. So that placing could have been avoided totally just by curtailing those remunerations until such time as the company was able to turn a profit. Yep, must have been a really difficult decision to shaft the shareholders instead of the management.
Peckham..Agree there.. 'There's more than one way to skin a cat' :-)) Thankfull, I managed to have a chat with RC on the reasoning for the last two placings.. Both HAD to be done, it was just unfortunate they came so close together.. I wasn't happy about it myself at the time, but came round to RC way of thinking..Sometimes difficult decisions have to be made l.. However, now will we start to see the benefits of those unwelcomed placings.. IMO the future is looking very good for us from this point onwards.. Mr Tragic has thousands of deramping, negative posts over on RRR where they are all so fed up with the guy, he seems to have latched onto NCT now... Nevertheless, IMO news is very close, so we shall let the RNSs do the talking then perhaps he may move onto MXO? or go back to his hole in RRR.. Poor sods..
Blingy - "I think all can agree that the company is now going through a change in both direction and board members" The only change I would want to see is drastic cut in costs, overheads, salaries and administration. I haven't seen much in the RNSs concerning that, just project after project, well after well, most of it "jam tomorrow" and not much in the way of RNS detail concerning real bottom line revenue. All the waffle about possible BoD changes, gas tie ins and future deals isn't going to change fortunes here imo. They can throw out all the PR they like, but if they go to the confetti printing machine and issue another 1.5 billion shares whilst still expending $millions in admin expenses and $00,000s in management remunerations then it will simply destroy sentiment further and keep investors away.
What difference does it make to NCT what the SP is when they drop the next share issue Peckham? In March the SP was trading at 0.06p, then dropped to 0.0475p and then NCT announced a 33% discounted placing at 0.0315p. So long as they get the funds, they clearly don't care what happens to the SP imo.
Can't see there being a new issue until they get the sp moving significantly North of where it is now. Imo.