Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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We may all be disappointed but remember this. We are reliant on nobody going forward now. We don’t go cap in hand begging for money , the future is in our hands to build this company. You contrast that with all the poor sods in Sirius?
You certainly are. It isn't hard to see what your mission is Special Ops.
Div That is also my understanding - 6 month lock-in.
Nice to michu - I agree with your wiuder point on AIM given current market sentiment but there is already strong II investment here and I believe that oil prices are going to rise in the next few months if you look at the fundamentals. No sector stays out of favour indefinitely although I do agree that being a fabulous value proposition does not guarantee short-term sp appreciation - it can take a while to get there. For SAVP it is too early to say 1 day after 7E completes - next week could be quite different - there is still decent volume around.
I thought the new shares were subject to a 6 month lock in period as per the admission document?
Great post Olderandwiser. I too fell sorry for Mr Knott and his team. This is one hell of a deal to put together and get across the line.. yet the craziness of AIM O&G sector, as seemingly ever nowadays, rears it's ugly head here again today.
The simple answer is to generate lots of nett profit/free cash flow quickly and if the market still refuses to meaningfully upgrade the stock off the back of that - and the way II's now see this space, it readily still might - then start a very big share buyback progam and that will make a big difference to the s/p, I'm sure. Then, in due course, pay growing dividends too .
Ps: I'm really tired of people telling me but AIM is about, growing the business is everything and the rest takes cares of itself via s/p appreciation or outright sale: it isn't any more and it doesn't, I promise. eg Amerisur today ( that offer is another in a long line of AIM O&G farces )
Generally, AIM O&G CEO's have got to give a real damn about their shareholders.. my big concern is that, when it truly comes down to it, lots don't/won't. In those instances the car crash for shareholders will continue to be a huge one imho.
You are in the fabulous position of now holding the keys to a safe potentially brim full of money; So please, please genuinely respect your shareholders Mr Knott !!
As the RNS says next week millions of shares will become tradeable. I'm not surprised the market wants to wait and see what those shareholders intend to do.
I thought it worth reviewing all the trades today and manually assessing these as objectively as I could into buys and sells. Having the benefit of RS through the day was a help although I wasn't online for the duration. What I found was similar to the last week or so, an excess of buys over sells, with a few odd trades (like the 100k sells we've been getting recently). I make it approx 3.3m buys to 1.7m sells today with c 600k trades that could go either way. The sp of course fell and it was obviously after some early trading that this would happen. There are legitimate or illegitimate reasons for this. Legitimate - MM's I understand have up to 3 days to print larger trades, or longer if it is a trade that needs to be executed over multiple days (eg sell 20m SAVP at best price or whatever). It could be an institution selling down or a major shareholder (less likely but possible) Then there are the reasons which really run the market - those which line the pockets of the MM's. One contender here is for them to try to get hold of as many shares as they can to fill the gap caused by a week of big buying by PI's and make a profit by buying at as low a price as they can manage. That would mean there are more days of pain to come even with excess buying. It didn't work today though as we had more buys again. I've seen this done elsewhere though and it can go on a long time. News and new buyers can stop this. There are other theories but it is important to recognise that the company will attain closer to its true value in due course, particularly if as Andrew says Jeffreys and Numis are focussing on getting the message out to II's. That is an attractive story given the low sp at present.
Spot on OAW!!
Imagine how AK must be feeling then, for all his hard work and LTOP kicking in above 45p. Look, the deal is done, and everything we have discussed here for the past 27 months will start to be delivered now, item by item, by the team. That I have little doubt of.
Wait and see the RNSs coming through. Then see how the market reacts, but if you observe that value enhancing real progress is being made, first to deliver the base net cash flow of the SevenE business, then incrementally with add-on contracts, plus cash flow from oil sales in Niger, expect the share price to start moving towards the brokers' fair value targets.
I don't see the point in berating yourself, or SAVP, now, after waiting all this time with one frustration after another. Maybe in another year's time, for sure. But that seems like an age away to me.
Its amazing really. I've read this board pretty much daily for the last 3.5 years (ever since i invested, fairly heavily, a couple of months prior to the 3 well drill program). Lots of strange/frustrating things have happened in that time - the 5 successes with an often negatiove effect on the sp. Various other positve RNS's with again little positive effect on the sp. Relentless delays for the RTO - understandably negative. BUT for this strange journey that a lot of us have been on, where really I guess we should have been prepared for anything, i never ever for 1 millisecond pondered the thought of the sp actually going backwards the day the RTO crossed the line. Never once. I'm in this for the long run, and still have faith. But today, im gobsmacked. Perhaps i shld have known better!