Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Kraken... Do ENQ have to double their current sp v 2015. No. Do PMO. Yes
Members Enq bought Magnus ( 18000bopd) with the RI worth $500m but that did nothing for the Mcap ! Pmo converted the Bonds into shares last year, so same as a RI !
The difference being strategy or leadership or both. PMO not cutting the mustard in the eyes of the market by comparison to peers.
Krakenoil... CNE was 157 in 2015 and 157 now. But PMO 145 then and 76 now. So. CNE sp does not have to rise to go back to what it was 4 years ago. We have to rise 100% to go back to it. Simple. TLW was 285 and now 199, so only needs to rise 40%. And ENQ was 35 then, massive rights issue at 21 a few months ago, so we the current sp of 22 is in fact around 30. That means it only needs to rise 17%. Can you see where I am coming from? PMO 100%. TLW 40%. ENQ 17%. CNE 0%
Oil stocks well out of favour currently, Look at all of them, most just off multi year lows. The whole sector around the world needs the volatility gone. Large Investors don't gamble with peoples money and the oil sector is just that, long or short.
Shale have ruined it
- Brent was $47 and now at 62 (up 32%)
- PMO was 145 and now at 76 (half that)
- No hedge then, 43% at 69$ hedge now
- Poxy little Solan then. Catcher, Sea Lion Zama, Tolmount and so much more now.
- 30,000 production then 85,000 now.
- FTSE at 6,500 then. 7500 now (up 16%)
- Debt much higher then compared to now, as we keep repaying it month after month.
- Operatong costs a massive 45% higher than compared to now, so huge cost reductions to produce oil.
- shaky and negative trading updates and full year results then compared to positive, steady and devoid of any drama or bad news now.
So... we need our sp to rise 100% to go back to what it was 4 years ago. Despite conditions being a million % better now than they were then. On all fronts. Within PMO. Within the price of oil. Within the FTSE stock market.
Makes sense? Of course. But only if you are clever. And I am not