Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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the only question left now is do you believe that all the stimulus around the world can hold the markets up? because without the stimulus the markets would be much lower.
Someone alto? We've all known it. However it's necessary to put life before money. No point having an economy if there's no one left to enjoy it.
lilo at last someone gets it's not about covid 19 anymore.
By the time we hit bottom , the effect of the corona will be more devastating than the virus itself.
we are globally falling down a black hole and no one knows when we will hit the bottom. Imho
" Trump's answer to the feud was to say they were topping up their strategic oil reserves with cheap oil "
yes but then they cancelled it because they didnt have the funding
......the biggest economy in the world and the biggest oil producer in the world doesnt have the funding to buy reserve oil at its lowest price for over 20 years......go figure
" I can't see them punishing these companies more than what they have punished already."
No, that may well be the case....punish an individual rather than the company and its employees
Cyrus and Saman Ahsani were due to be sentenced on April 20 at Houston federal court, if that is still due to ahead
Maybe with all the accumulated evidence from all thse trials , the DOJ and SFO will then go after Ata Ahsani, the ultimate scalp in Unaoil
Anything on the SFO ? We are in April ? Or they stopped working alltogether ? I can't see them punishing these companies more than what they have punished already.
something will give but i can't see poker face putin giving in first. they cant survive on these oil prices Russia need $45 to break even Saudi $75 so i cant believe they let it go this low it costs more to ship than what it is now. but this is all about putting a noose around the shale industry's neck but i don't think it will work short term yes but they will come back. the problem is a lot of US shale company's are hedged at higher prices the ones that are not will vanish. on the plus side cheap oil is very good for some company's examples Goodyear tyres 44% of cost is petroleum/ turtle wax 33% the list goes on some will do well out of this.
Trump's answer to the feud was to say they were topping up their strategic oil reserves with cheap oil as a dig at the two feuding countries to deflect the argument that fracking companies would be damaged in the U.S..
If Russia and Saudi Arabia were to stop their feud the oil price should rise again. I find it hard to believe the oil price is down at $25 when it had been $120 and we were supposed to be completely out of oil reserves 20 years ago at the turn of the century. Cheap oil is not good for the environment and not needed at this time when people are not moving around the World and industries are being shut down.
jaff oil is dropping is doing the damage to sp on a bad note bp just slashed it's oil investment by 3b on the plus side it also cut it's oil output by 70,0000 boed. lots will follow and a lot of shale company's will go under i have no problem with that as most of the ceo's are just Crookes they just keep borrowing and diluting shareholders value this will end up a clean sweep and a decent oil price the strong will survive.
One more thought on the cancellation of bank dividends.
Over the last few years the banks have had to pay out billions in compensation for
the misdemeanours of their Executives/Employees
For 2019, 865 personnel took home an average £557k bonus
For 2019 the shareholders will lose their Final and in 2020 receive nothing.
No doubt in 2020 bonuses will still be paid notwithstanding.
No wonder the Barclays BB ( and others I suspect) is full of vitriol this morning.
Thanks Warthog and others for the clarification.
Over
Oopps , I think we better stop discussing this here since investors reading our comments are getting worried and selling and the SP is dropping again.
Over and out (for the time being)
As I read it (but DYOR) a Final Dividend becomes a legal obligation to pay once approved by the Shareholders. So, if Resolution 2 is not passed on 15th May then we won't get the Dividend declared.
The Banks were under the PRA cosh so probably this overrode aforesaid legal obligation. PFC is not under the same cosh so it seems to me that everything hinges on the vote on Resolution 2. Even if Asfari and Directors bungs their shareholdings behind a motion to cancel they only account for around 65 million shares from 346million so it seems it will be the Institutions who will decide whether or not we get anything.
it would not be wise to cancel dividend just before ex date i think this will annoy investors more but they can do that. i don't get why they just don't put an covid 19 update on this matter just kill the rumours. know one else seems to of waited for there AGM'S to do this.
Don't know jaffjoon and frankly haven't checked as it's irrelevant. If they wait till the final date that they can they may preserve the dividend but the SP will fall. If the SP drops 19.54p (the dividend) we'll be back where we are now with cash in May plus the SP. However if Barclays have done it then you already know the answer.
Yes Stockdale I agree the sooner the better and I`m all for it.. My question is can they do what I think Barclays has done and cancel the dividend up to days before the actual Payment Date ?
That's not the issue jaffjoon. If they wait until just before the final date that they can the SP will be back at 160p or less. They need to do it now or not at all. Preserve the capital value or the dividend. They can't do both.
I just checked . Barclays Ex. Div date was 27-02-2020 and payment date was: 03-04-2020 which means they cancelled their dividend 2 days before payment date on 1st April fools day !! So PFC can cancel at any time up to payment date. Can someone with more expertise please confirm this. ?
Thanks
I think they can cancel the dividend up to a few days before actual payment date.. is this correct ? Seems Barclays did the same thing today ?
*They should cancel now or not at all.
The danger is if the company waits to cancel, if it's going to happen anyway. The SP will fall and any benefit from cancelling will just bring it back up to the current position. They with cancel now or not at all.
PFC SP will keep dropping until they pull the dividend. Sounds extraordinary I know but companies are fighting for survival and need to retain cash wherever possible. IMHO