Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Well back in today for a speculative punt. No serious money after many lessons learned, but hey who knows, even 0.2 would be a result from this level.
I was looking at the 10,000,000, 5,000,000, 5,500,000 and other 1,000,000 trades at 0.11 which kinda suggest sells given the spread or is that not how it works?
Where are you Looking? Buys far outweigh the sells.
only 5 sell
Buy/Sell ratio is still over 9:1
Oil producer Range Resources Limited (LON:RRL) exceeded its target of 800 barrels per day in Trinidad towards the end of its latest quarter.
Total output in the quarter to June was 60,376 barrels of oil or 663 per day on average, though production rose to more than 800 barrels per day in the second half of the period.
Overall, output dropped 9% compared to the previous three months due to storage issues at the start.
Range said it is still being hampered by tanks being full and having to shut down production, especially as Trinidad oil company Petrotrin reduced the frequency of oil sales.
Petrotrin buys the company’s produced oil.
To compensate, Range is investing US$800,000 in new tanks and associated facilities to give it more production flexibility.
In Indonesia, operations started at the Perlak field, with 145 barrels produced over a two-week period.
Yan Liu, chief executive, said: "During this quarter our focus was on achieving our production target of 800 bopd in Trinidad and commencing operations in Indonesia.
“Maintaining production rates at consistent levels is still a challenge that we face in Trinidad.
“We are actively working to address this and have already completed initial upgrades to the oil handling and storage capacity at the Beach Marcelle field.
“With an active ongoing work programme, we are now focused on delivering on our key objectives of a production target of 1,000 bopd and cashflow growth.”
Er, do you really thinl liquid assets refer to oil? I can't even....
Errr Special, looking at the trades there seems to be a lot of selling suggesting some disappointment.
read it clearly....is says $8.3mil in cash AND LIQUID ASSETS (ie OIL)
Also in the quarterlies , it does say they had $4mil at end of period , so the placing is around $1.3mil USD , taking to €5.3mil...the rest is oil held in tankers I guess ($3mil! ) which is quite a lot , but explains the issues that they having with Petrotrin dealing with all the oil!
you cant write the script on this! just as things improving , then we hamstrung by Petrotrin not been able to handle our oil...ffs
this does not help when we have staff to pay...we cant suspend their wages etc.
At least Range trying to find ways to better the handling and shipment and working hard at that - so credit to them for that.
Still , I have an uneasy feeling about the Petrotrin but as might halt our progress to the long await 1k bopd target
for a co that looked dead in the water not so long ago folks.......i can live with this report.....
as for the sp............just.lol......
looking very cheap here
It's very annoying they didn't see fit to advise the current cash position last week. $8m very different to $4m or the impression actually that it was just desperation near $0m.
Looking at the trades I'd say confidence is very high.....
Wow operating costs down 29%, hopefully Q1 we'll see the production back up to an average of 800 while carrying these savings. Not bad at all.
From memory the 1000 bopd has target been spoken about for a long time. I am surprised that all these bottlenecks haven't been sorted much earlier. Time is getting shorter all the time before we need to consider paying back our debt.
Before the raise last week this was trading between 0.16-0.19p so is quite heavily discounted. In fact approximately a third was wiped off the MCap.
Ok, I take your point, three similar quarters before the 8.2 would disappear, but hopefully they can maintain somesort of workable turnover going fwd. The 600s won't cut it in the slightest.
Yep, as I said, outdated. Liquid assets are cash equivalents.
Cash in bank at 30 June is 4.036m per the report, Cash, liquid assed and placing are 8.2m
Sweet! GLALTH
Cash of $8.2m. You're looking at outdated numbers.
Hence why they are now targetting 1000bopd by year end
The infrastructure limitations were why the average was slightly lower. The upgraded capacity including daily storage capacity to 2100bopd and increased trucking meant that production target of 800 bopd was achieved in the second part of the quarter
"All good news, no surprises. Let's put last week's blip behind us and get back to building a business." Really? Down to 4m cash, targets missed at 633bopd and even down on last quarter averages, net cash out flow of 2.6m in quarter, wage costs c1.5m a quarter going fwd, finance costs potentially to be factored in. All good news? I very rarely lol, but..... Lol
Average bopd 633 I believe, 9% reduction on previous quarter. They have hit highs before but have not maintained it.