Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Agreed, although those who were not greedy would have done very well from the ridiculous movements in this share during drills.
Pull something out??? i might have a bit more confidence if Bandy's track record over the last decade wasn't so abysmal
Yes he is a slippery man and could not care less about shareholders. But he has kept the company in good shape and his selfishness is what keeps me here. The quarterly annual report is coming this month, let’s see. He will pull something out when no one expects it, unfortunately that is his style. Most people need around 3p or so to get out.
Do you still think it's a solid company?
It's a shambles, and at this point I only have myself to blame that I'm in here at a 80 or 90% loss, but that is because I didn't catch on to how he lets the in crowd know to sell.
I could go on but I won't.
We do not know the reason yet for his withdrawal. Good reserves, low share cap, it’s all good at the moment.
Agreed the guy is a fraudster
One the 8th June Bandy decided to not exercise Red Emperors option on the Perth Basin Permit.
It is now one month and still not a word of why Red Emperor pulled out of the deal which cost us 150,000 AUD dollars.
His track record is beyond a joke.
With $175m shares in circulation and $4.5m in the bank and a drill could drop at anytime. So yes 1p could easily be achieved. In Dec 19 it hit 1p in the same day and that was just for permit approval. If a drill is announced then I think it will fly past 1p.
see this going close to 1p ? I have an ave of .72
Tempted to ave down
Agreed. But he will place at a much higher level.
Look at his history he always places at a minimum of 2p ish. There will always be punters, guaranteed.
Buy at this level , you will not be disappointed.
You have said it all. Bandy has stuffed everyone again. Good luck to those who are still in, but don't forget that Bandy will be out getting more funding if there is a deal out there. Eventually he will run out of punters!!
Looks like a few buys coming in now ..
I think Bandy will definitely drill again, he has to keep the train going. Hopefully, he will actually put some effort this time into bringing something with a better chance of hitting oil. I am hoping he will learn the lessons of the past. I appreciate you can’t always hit oil otherwise everyone will be rich. He will not commit more that $500k as he does not need to in the current climate. No point quoting in sterling as all his deals are in Australian dollars. Good reserves for a company this small. Low share circulation. Let’s see what happens
lol ....that was $4.7m 'Australian dollars' last quarter up to March = c £2.5m
-then with £150k *****d down the toilet on the Perth Basin fiasco where investors were completely misled and misinformed
- ongoing salaries (for doing nothing) of Bandy and his buddies with their snouts in the cash trough:
Mr. Greg Bandy - Managing Director (Board Member)
Mr. Jason Bontempo - Non-Executive Director (Board Member)
Mr. Aaron Bertolatti - Director and Company Secretary (Board Member)
Mr. Tony King - Corporate Adviser
I'd say there is currently less than £2m
As for the other assets (which are actually worthless liabilities ) ie Alaska dry holes, Philippines which have no current value with the price of oil in the toilet and no one seriously considering any exploration investment in Alaska.
Whatever Bandy does next, when he finally decides on the next hyped carrot to dangle, will imo not be in the interest of remaining PI shareholders. Get your money out now while you still can.
RMP has a proven track record of fleecing shareholders.
Agreed a good farm in announcement might a jump in the SP.
Truth is Bandy will need to place again so he will have to pick wisely as his placement figure will be getting lower and lower given is total ineptitude
with Bandy in charge this company will never go anywhere. Look at all previous explorations it has participated in - its track record is woeful.
Be very careful with this one IMHO
Yes , price is beginning to look very appealing.
$4.7m dollars in bank , low share circulation. A drill
announcement would make someone a lot of money
from these levels
see you at 0.3p or less.
Plenty of action overnight down under with those 2 companies mentioned by kalahari11 . Nowt with RMP though. Let's hope Bandy can pull something tasty out of the bag... not getting my hopes up though.
Thanks, TheSyrup that was a good read. It would also make sense of the recent decision.
Certainly makes interesting reading. Here are the links to the Hot Copper posts on the RMP and SGC boards for those who want to DYOR...
https://hotcopper.com.au/threads/ann-rmp-elects-not-to-exercise-option-over-perth-basin-permit.5435427/page-2?post_id=45247227
https://hotcopper.com.au/threads/bigger-than-the-perth-basin.5431167/
Wow! I read the hot copper article. That drill is an absolute beast. It would be great if RMP could muscle their way in there. Even 10% of that is worth loads
No he will most likely eventually announce yet another fiasco investment into his buddy Dave Wall and 88E in Alaska because no one else is daft enough to invest there with the price of oil so low and E&P costs in Alaska so high.
Sacgasco : SGC. Borba prospect : 6 Tcf +. California. There is an interesting post on Hotcopper. Pure conjecture but well researched. Will Red Emperor be farming into the Borba prospect ?
If you have a moment do read it through, there is a lot of common ground between RMP, SGC and XST.
I’ll take a look when this hits 5 for 1p... worth a punt with £1k then.
I feel for people tied in at a loss.
Been there, long recovery.
Good Luck all.