Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The market ATM is but a few........ yes...... :)
when news arrives, bid, outstanding monies owed, JV (choice), potential increase in ownership of Cambay, drill schedule, income, profits............. :)
All the best (the market interest will grow, herd will come 'n go, interest will continue :()
Well to equate our 45% to our market cap of £ 6 million the bid would need to be around £ 7.4 million. That’s not taking into account if or not we receive the money owed to us from GSPC. As Mr I said small sells again today, so nothing to do with any leak of what the offer may be.
Fair enough MI. We just don't know as usual. It will be a real cause for concern if it drops further. I would have thought a bid as low as £3m would be pretty disastrous as it would not only value Oilex's share at less than the market cap but also demonstrate a lack of confidence in the asset. In that, hopefully unlikely, circumstance they would struggle to raise even that £3m.
I still think our best hope is a decent high bid. Atb.
Mr.I...............!
Us raising to buy Cambay is one thing............. drilling 'n producing it another IMO............!
A JV is called for here, and we'll get one IMO, one of our choosing I feel also...........!
All the best (Perhaps even a greater than 50% share to boot................here's hoping :)
Gordon I think we spiked on the closure of bids Rns on 23rd of December. Since then there has been steady selling all the way down to 0.16p last week, so who knows who was selling, but probably a mixture of bored pi’s and the options. The thing is with options is that the holder isn’t taking a risk like we have to do. He can choose to excercise them within the timeframes set and if the price is higher than he has to pay, he will buy them then sell almost straight away if there is a profit. He doesn’t have to gamble on future outcomes.
Don't get me wrong. I hope you guys ate right. However, given that it rose lot less than expected on Friday and is now back to where it was before the rns it has to be a concern.
Look at this way. If it had gone up today by 0.03, there would have been posts on here saying it must be news of a great outcome leaking. Atb.
its all about managing risk Gordon
get your initail lump sum back and 50 or 60 k
it makes good bussiness sense
That's obviously possible Mike but if that's the case it doesn't demonstrate much faith in the outcome from the option exerciser. It may be an instant profit but why wouldn't you wait for a bigger one if you believed ?
i think that it.
Give it some time and it will work through
Disagree with that Gordon. They paid 0.14p for those options and selling at 0.18 or 0.19 at the time was an instant 30/35% profit. And if the GSPC sale is being handled confidentially by GSPC alone, then it is quite possible that they would not know the contents. It was £ 180k to excercise those options which would have given them an instant profit of between £50/60k. Would you take it ? I know I would.
most of thos e option prices are at .14 nice profit for some 20% on $330000
anyway im just guessing
in the end it will go up but as the old saying is "never in a staright line "
Sorry guys all this option stuff smacks of clutching at straws. It doesn't matter what price you exercised an option at, if you thought it was going up, why would you sell now ?
Yeah, I think the 124 million options were at just over 0.14p which does account for the a lot of the constant selling since then.
and given that most people have aravaged down or bought in now at .15 to.25 it will hopefully churn and break out
theres all sort of crappyoption share issues in the last 9 months that are holding this down
saying that once they clear it should break out
Afraid im not clever enough to know at what price or date the overhangs will clear
Callum maybe, but I would have thought they would have got through them by now. We had more volume than that on Friday alone.
i did say there a huge overhang on here they will flip out the options that were coverted in December
Oilex Ltd (Oilex or the Company) advises that it has issued 124,060,150 shares at A$0.00266 (total A$330,000) pursuant to the exercise and underwriting of options as announced on 31 December 2019.
The Company has issued 60,150,375 shares under Listing Rule 7.2 Exception 9 pursuant to the conversion of the options expiring 31 December 2019. A further 63,909,775 shares were issued under Listing Rule 7.2 Exception 10 pursuant to the underwriting of the conversion of the options expiring 31 December 2019. The applicable Appendix 3B for the issue of the shares is attached.
December 16 RNS was when Oilex bid for the 55% previously. I have no insight into whether oilex bid this time however I doubt they have as surely they would need to RNS it again.
Bound too they have in the past. 3 years ago. But GSPC did not sell.
This time GSPC have to sell!
Thunder, where did you read that OEX would bid for the 55%? Do you have a link?
Joe, not quite sure what you are saying. If 55% is worth $ 60 million that would make the other 45% worth around $ 49 million pro-rata. Where’s the $57 million coming from?
on 29 May 2018, the Company issued an EoD Notice to GSPC in accordance with the JOA for the equivalent amount of US$3,054,832. The EoD Notice was issued as a result of GSPC's ongoing failure to pay its Participating Interest (PI) share of Cambay PSC expenses.
Cheers for repost. Most interesting in this case. Bit of head scratching now at the muted reaction today - I am hoping its BP and they leave OEX with about 15% carried interest. We can all dream.
https://connect.ihsmarkit.com/upstream-insight/article/heroldReports/136046/seam-alert-gspc-has-commenced-a-formal-sale-process-for-its-55-participating-interest-in-the-cambay-psc-onshore-india
Thunder this was a link posted by Mr.Investment, the article shows the lower range at $ 60 million, so I just halved that as a possible scenario.
If oex are the preferred first bidder, where will they get $30m? Less monies owed possibly.