Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I personally find it distasteful that he and the RKH Board are taking salaries when it is Navitas in control.
People working, get money, and you think I’m stupid
Stupid remark
A shocking revelation
In breaking news it has been revealed that share prices go down as well as up
A spokesperson from LSE said “who knew that investing in a AIM listed company could be a bumpy ride and suggested that people should not be surprised if the price of things fluctuated yearly or even monthly but at this early stage it would be difficult to predict “
Boboil New’s contacted the FCA who said “ it’s a bit sneaky but we have suspected that it’s been going on for a while, apparently institutions buy and sell shares to make money. We are going to investigate further !!”
My view is be careful out there people it’s a funny old world
GLA
Patience Godders.
At present there is nothing that ANYONE can do.
Sam and the RKH Board have effectively handed the market and large holders an opportunity to manipulate at will the SP to their own advantage. I personally find it distasteful that he and the RKH Board are taking salaries when it is Navitas in control.
Other Oil Exploration executives would have tried to protect PIs. We count as nothing in their eyes … yes the warrants and cheap shares were offered but too little too late without the SP support.
I feel sure the large holders will ensure that they do NOT cross any shareholding boundaries that would necessitate an RNS to at least give us some idea of what is going on.
Sam is taking a salary for doing very little.
Of course but it’s the old story of risk versus reward with the constant change of direction and changes initiated by the market.
PIs generally don’t have the means to read / control / the same ways that Large holders can.
I know you also understand that, perhaps you are better at it than most and perhaps like SpaceHoppa you bought a HUGE stack at 6p … a likely story.
That's how you make money Latics , that's a sure fire way . Market going up and down, I know you know that to be true.
Or am I wrong ?
Rinse and repeat.
Here’s hoping Navitas have some news at the end of the month although somehow I doubt it.
Just to add: I guess RoI looked at this miserable tale and quite reasonably concluded that RKH would go bust before ICSID had dealt with all their objections (including their annulment request) and SL wasn't looking very promising either. So, RoI probably calculated they could risk the notional £1.5 Million/month interest accumulating, because they reckoned they'd never have to pay it.
There was and is always the option to sell off more of the asset if times get really bad financially. Even Argos managed to find a buyer and they aren't even a shadow of where Rock is/was, and dilution is a card played often at the expense of existing shareholders.
Regardless of our individual views on it, I certainly believed a 250mm bbl field would and will get developed, and it allowed me to pick up a quite substantial amount of shares around the 6.5 to 7pence area.
Not sure I agree.
I think you may have forgotten that there was a period when SL really did look like becoming a stranded asset.
The only FI infrastructure in place looked like it might become an unaffordable decommissioning liability for RKH.
In such a remote location with a seriously hostile neighbour effectively frightening-off all but the most resilient potential partners, who were virtually shown off the islands by the then FIG CE.
FIG apathetic, at best, about all the fuss and bother developing SL would involve, plus the threat to local eco-systems, when the fishing revenue and tourism looked to be enough to support the more modest lifestyle that, at least, older islanders would have been prepared to tolerate.
RKH was selling-off its assets to raise cash, but if something didn't happen pretty soon, there would have been nothing left to sell, no revenue any more and absolutely no sign of any OM award.
Tony Durrant promising jam in 6 months, etc., but no jam ever materialised as PMO struggled to put a workable project together, which became more and more apparent as PMO's debt-mountain ballooned.
My recollection is that things were looking increasingly dire as World momentum against fossil fuel accelerated, making the FI an even more unlikely new oil region.
An for those like DL/Godders, I don't think that even the most super-optimistic person would have posted here, at that time, that RKH was a great investment opportunity and all that (plus a lot more) explains why so few believe it's going to happen now.
I don't think Rock were ever close to a financial meltdown, thought it may have left that way at times !
The option of dilution was and is, always there, 300miilion at 3pence and bang, £9m in the coffers.
Thankfully it was just 160m at 7pence and 60m at 9p warrants, to bring in the needed cash.
As for our ICSID case, it feels we are overdue an update of the latest procedural details.
Agreed - in the case of RKH, I reckon the RoI had assumed RKH would have collapsed long before ICSID had reached a decision, which they nearly did.
No materials on the icsid site to understand the issue straight off.
For what its worth , my take without knowing any of the details is : Icsid are notorious for taking years to come to a decision as evidenced here, by which time the actual stock price , Company finances and investor interest can take a big hit and with no guarantee of success it is a long road to grind. Here at least the Sealion field, is a significant asset that is not related to the case and is being prepared for FID. If there is no other assets to generate revenue then the drain on finances can be brutal .
Unless there is a settlement , it's a very risky thing to bet on an arbitration result.
Don't let me put you off , lol , but be aware of the costs and timescales involved.
GL
Hint: If someone likes to bet on ECT arbitrations, there might be also a possibility with Ascent Resources PLC (not the American Ascent, the UK company).
It seems that there are some real ECT experts on this bord, so I would like to ask:
Slovenia decided to ban stimulation of wells (fracking) in 2022, which would make the leases of Ascent nearly worthless. Is there a good chance for recovery of the lost money? Or is there only a good chance if the drilling is outright forbidden like with the leases of Ombrina Mare?
I suspect there is more money in Brooklyn available to call on than the whole of BP's market cap.
Oscar,
Are you implying that FID would not happen till the end of 2024 and therefore first oil will be end of 2028? That would be a 2 year delay to Gideon’s original plans .
I wonder if they will try and get a mid cap player in as the 3rd party, give them 30 precent, but only if they have cash to fund things until Shenandoah comes online, then Navitas will have plenty of cash to fund theirs and RKH’s share.
Regards LTT
Patience, until 12/2024, or better, until 12/2028
M2
Cracking post lots of good advice
Thanks
Boboil
bluedefender , a very good post to remind us that times indeed have changed, what was sexy once is not any longer.
i remember the sp being 30p pre sealion drill and and as low as 10p, i bought some £500 worth that day, had about 50k shares when it £5 plus, watched it go down to £2 before i sold.
i spend a lot of my time trading crypto and it really does open your eyes with regards to trading. one thing i have learned through experience is take your profit.
i've said all along, om is the reason why i have a significant position , the case is won and if var ( tribunal) does not **** it up , we as shareholders are being or will be given a safety net on this investment imho.
my hopes are firmly pinned on navitas.
i remember a very learned oil industry poster on an old site ,ii?, who said he was out of rkh the pmo deal was announced . he said pmo were not up to the job and that it would be a big surprise to him if they could pull it off and he was right. i sold mine shares as well as i could see what he meant.
now i have a son who has invested in rkh and i tell him : we are now approaching the time when all sorts of nonsense will happen on the chat boards, mm and ii's will all be at it .
remember why you invested, sealion, and if it's not 80% - 100% still the case, de risk some on any positive news and take a little profit .don't forget to have a strategy in place and don't rely on anyone else.
times may have changed, but taking some profit hasn't.
not trying to teach people how to trade, but it is based on my experience.
some decent posters here and a shame if you don't make the most of the factual posts given to you on a plate.
gla,
Accepted … maybe I was being too sensitive.
Apologies to everyone for my attempt at humour.
In the same way at that others will use external sources to demonstrate a point, I have done so also.
My point being everyone is entitled to an opinion.
OK Latics - so this Voltaire dude is no troll - so is he an RKH shareholder -otherwise why does he merit a post on this BB.
Dear oh dear … some people don’t know how to accept being told off and have to have the last word.
Detention … covgaz… detention.
Seems like you’re in the same category as the other one.