Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Beerbull hes lord to himself I really hope he dose not stay in power next year!
Grippa, re Trump & unforeseen consequences. If a butterfly (if you can believe it), can change weather patterns on the other side of the world, how the hell can anyone make sense or understand the implications of Trumps actions. Great article by Niall Ferguson in yesterday’s Times, basically saying the same, some of his fist swinging will have produced positive outcomes, some not so good. The problem is it’s too complicated to identify good actions from bad. Recent example John Deere are seeing slower demand for their tractors a direct consequence of Trumps tariffs. I bet he didn’t see that one, but so much stuff being effected that’s not reported,but will no doubt have major knock ons.
Thankfully looks like we will get back over 70p...see if we can start the rise again........ back to 80's and 90's
If the draws are good, then will help the update on Thurs......
Think Trump does not want to lose face so he will / may keep the trade war a touch longer..... and then make his movement.... but not sure he will also want china to react to his new tariffs on Sept 1st, so will say " talks going well, will delay tariffs while we are discussing resolution"
If not, and recession comes, he will be toast.
Peltata he dose not want one in America but sometimes don’t think he fully unedstands the consequences of his actions unfortunately
But trump is a fool. Will end up causing it
Trump doesn’t want a recession above all else so at least that is on our side.
Thanks MrD a bit of a open ended question I know. Fingers crossed Donald dump dose not cause anther recession that’s our main threat now good luck!
It would be nice for now if oil could get to $63/64 and premier_oil 75/78p. Before a results boost.
Thats too difficult to predict we could be in a recession or out of a recession. I see one last high of 100p+ before a drop.
So what do you see share price at by end of next year MrD??
Pmo is ahead on debt paydown. By $250 million. As per the lenders. Obviously its on its own target. Which is x1 by 2024. So basically reducing by $300-350 million every year. Tolmount is purposely delayed till next dec. As thats when they believe they will see a drop in catcher so as to keep to 80+kbpd tolmount will replace catcher reduction. However I dont think catcher will reduce. I think itl be like that saudi field that keeps on giving. I think they will do a reserve upgrade there. They will have to if it keeps chugging out 66kbpd a day.
Grippa. I questioned the debt and received some sensible informative posts back. It's just a case of working out where the sp is likely to go. Current market conditions aren't helping much.
I generally look for an 8% gain on each transaction. Pmo has served me well.
Atb.
Beerbull The people who are saying debt is a problem are all trying to talk the price down for their own agenda. As far as I understand PMO are well within there guidance from lenders and doing just fine for now!!
Haven’t PMO paid down debt as per guidance? Not sure why this is now being brought up. Red herring.
End of next year??
MrD upl seem to be on the ball here and balanced views, what do you see the SP at once tolmont is producing the
Zama valuations range from $300m- $600m . Personally think if we cant get $600 m keep it .
They intend to sell zama. Look at that podcast clearly states they like to sell once fdp is approved to get most for the asset.
I kinda agree with you SK, i think we will still have some growth in SP between now and 2nd half of 2020), but the writings on the wall after that, so we really need to see debt under 1.5BN by 2nd half 2020, ideally £1bn (but cant see that realistically), so selling Zama would make a lot of sense to achieve this
Zama reserves?
Tolmount is the key for PMO as low capex good margins even at low gas prices . As we cannot afford to buy anything the option is try and get Tolmount into full production by Q3 2020 pre winter not Dec 2020 with first gas .
The capex may increase slightly with pushing overtime but the winter full production will cover that . Concerning that Big-p has been quietly slipped into Q4 now from Q3 previously .
Catcher reserves be upgraded by 50 million.
Banks and market only care about 2P reserves, PMO currently have 194 m minus 30m production this year. With 2 billion debt at 5 years at 400m FCF / 5 years production at 30m basically current reserves only pay off the debt, that's without decor costs. They cannot sell Catcher end of.
Sea lion is a lot of capex and years away, there is no FDP yet for Mexico. They have to buy 2P reserves in the North Sea, no matter what anyone thinks on here.
Plus more drilling planned. Mexico could be huge
Well Zama will bump up reserves big time !!