Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I have a suspicion that MMs are short of stock and need to cover some large orders. Currently you can sell 100k+ in one block, at a paltry 43.5p. They often give quotes for large trades.
Has been lagging share prices in other markets for some time. Canada closed at 44.7p, the US at 44.5p, frankfurt (?) At 47p right now
Missed it but ticked up again yesterday
8v2, looking good for moves higher
I think Manolo needs to be LESS predictable with news. This would stop the trading out of PTAL when traders think no news is immediately due.
News on well 17H completion will also be announced on that date imho
MMs moving up on bid and ask this morning
7v2
AXL , one of the best oil plays right now , I hold too.
Low risk, higher P2 reserves coming , at lease double production by end of this year
No debt and self fundeing new drills this year
@viable - it's on my watch list. But can't compete with TXP or PTAL right now, I think. My most speculative investment in O&G is Maha, who's got a carrried part of 3R in Brazil, but also options in Venezuela (!). Early access, very cheap assets, very high risk :D
But I'm counting on the US fighting Russia and Iran the rest of this decade, so they'll need oil from somewhere else. Plus US have issues with immigrants from Venezuela (whole region has) - so fingers crossed.
Thank you LSE202020.
Not good for anyone not registered with X though, and unless they plan to put it in an RNS then it should at least be in the news section on the website as well. Or preferably have a calendar on the website, something few AIM companies seem to want to do but standard practice for most on the main market.
Https://diariolaregion.com/petrotal-permite-controlar-incidente-ocurrido-en-rio-puinahua/
looks as though quick boom action helped contain the spill.
They tweeted it today from their official account around 8am UK time
Darien - where are you seeing 21st March for YE results? Can't find that date announced anywhere.
. . . no complaints on 80k in first four days
[o/t - Sturm, {a) I was one of the monkeys that fell out of the tree @ 118p. It's a frustrating stock; b) have you run your eye through AXL?]
Fiscalised production year to date of 18,657bpd, circa $100m.
...~20Kbopd
https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos
And with Brent just going over $83, look what that does to to free cash flow:
page 10 of:
https://petrotalcorp.com/wp-content/uploads/2024/01/PetroTal-IR-Presenensation-v21-Final.pdf
Any shorting (hardly any here tbh - shorting a share with FCF and buybacks is extremely risky) just artificially inflates the share number. The same share has just been sold and bought twice - or more. But there's still a seller and a buyer when a hedge fund shorts.
Also looking forward to the Annual report - and very interested/"anxious" to see numbers from well 17H late March. It looks like it's in the north east outskirts of the field so - how much can it produce? If the numbers are strong, what does it mean for 2P/3P and recovery rates?
Think you must have too much time on your hands, i really dont care
Don't think I agree Damian.
When a shorter "loans out" a stock, and then sells, there is the short who has sold and the new buyer.
So, when the shorter closes, he buys off someone, who must sell. He then replaces his "loaned" stock.
It does add liquidity during the short though, as the "owner" has effectively allowed his stock to be sold. Without shorting it is unlikely the "owner" would sell. It is the scurge of the LSE, with "loadofmoney" Americans ripping off the British investor. One of the reasons the FTSE is in such a bad way IMO, with so many British companies undervalued.
Funds will take a view as to the relative merits of two companies, and fund their investment in one by selling another. The big US shares are pumped up in value by shorting UK stocks.
All IMHO
Behind every buy there is a sell??, not if the stock is borrowed when taking a short position, its closing a short against the borrow.. BTW Year end results to be announced 21st March.... big day, should give us a flavour of profitability for this year ahead too
Darien - when the bid is 43 and the ask is 44; all trades up to 43.49 will be marked as sells. All trades 43.51 or higher will be marked as buys and trades at 43.50 will be marked as "unknown". Behind every trade there's a seller and a buyer. So every buy is also a sell. Apart from the "unknown" :D
So watch the share price, not the "gamification" or whatever you want to call LSE's construct/"algorithm".
Look at all those buys in the 43s showing as sells.
Https://www.thearmchairtrader.com/podcast-extracting-oil-in-peru-with-petrotal/
Buybacks: 45% of the 916mm shares should be free float; that's 412 million so at least 41 mm annually in buy backs + I think there's an option/it's possible to also offer major shareholders same terms on top of that in a restricted buy back?
So they could increase the buy back number by 50% and still be below the 10% threshold.
But it's a balance ofc. Right now they seem to be able to reduce number of shares without inflating the SP; so that means cheaper buybacks. I wouldn't mind a bit more. Especially if we get major shareholders to chip in.
That £19992 quid is my isa top up for the year, onwards and upwards
Buy backs are a more tax efficient way of returning capital. However Manolo said at the last presentation that they were limited to 10% of free float or around 28m shares per annum. So not sure if they can extend the buy back.
Personally happy with the top ups in dividend.
I'd be happy with a 1.5c dividend a quarter, with the rest going into buybacks. This quarter, a cash dividend of $18.3m and $3m buyback, whereas a $13.8/$7.5 split might work better for shareholders.