Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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They said in the last RNS they would announce the well results. Another equipment delay perhaps. 'Snail's pace' just doesn't cut it as a descriptor for this outfit. Angry at myself for investing in these clowns.
2 months and not a peep. They must know by now if it is a dud or all is good. Either way, it is market sensitive info and the market should be told.
How can they look confused at lack of trades and the total share price destruction, when they don't communicate anything to shareholders?
Only hope is they think that good news doesn't need to be RNSd as it was the expected outcome....lol.
So pre consolidation this is now trading at 0.4pence! And that’s after being in a part of the energy industry which last year enjoyed record profits. Is this going to go bust?
Interesting on L2 all 8 mm's in this one are on the 4p bid, you do not see that often with stocks
Has anyone got in touch with the company? Just tried to send a message through the website and its saying error.
Looking at major share holders Richard Sneller with 11% must be fuming. I'm sure there'd be enough support to trigger an egm and discuss the CEO salary and future at the company.
Distressed seller or they know bad news is coming tomorrow , well if an rns lands in the morning defo insider trading, let's hope it's either a bored pi, or someone who needed the cash fast. No update and it's over due , the slide and incompetence here is a testament to the laziest must useless BOD I have seen in 35 years. Taking a big paycheck for nothing and the way it's going the company will be a write off soon too, surprised he ain't been voted out.
So at 5p bid 343k sold for 4.6p and at 4.5-5p they obviously dumped the rest 416k for 4.15p
Total sp destruction.
BOD should all be ashamed of themselves.
C.
Just no good when the boss sucks the life out of this with his crazy salary
Bit ominous when a mm moves lower after a string of buys, guess Marx mm has a sell order or picked up a block at 4p or less
Down 20% on £8k of trading.
Shambles
Mcap now under £6m.
Come on JA it is time to reveal some Tunisian news.
Market madness continues, and it appears that it is not being helped by this BoDs silence.
Total sp destruction in the last 3 years.
C.
5th June they said 'Upon completion of the testing program the Company will make a further announcement with the testing results.' Sabria - approximately 445 million barrels of oil equivalent hydrocarbons originally-in-place, of which only 1.6 % has been produced to date.
Waiting for those testing results as over a month has now elapsed. Surely it must be released soon.
(Should look good on that presentation chart).
Keeping an eye on those trades for some activity and some positive news from this BoD, at last???
C.
Higher trade volume today. News incoming?
Early August must be time for JA 'to pump it up' with some increases in Tunisian output.
Time to get something right after the past years shambles and failures.
Getting ready for the presentation RNS.
C.
I'd really hope to think we'd get an RNS stating the outcome of the Well prior to quarterly results (presentation likely to be August based on previous years).
It is in an area with plenty of oil infrastructure with the facility being down the road. Rig has been gone for over a month.
An optimistic view would be that it is completed and they are bringing the flow rate up over time as the well cleans up. Ready to RNS a successful flow rate.
Pessimistic view would be that they are waiting further equipment that is on long lead times or there is no flow from the well.
As the company will not communicate freely then both are good guesses...
So now the well is dug what is the process to get the oil out? Is it hard to get the equipment?
Almost a month since last update. Thought would have gotten one earlier but guess not. I am going to assume there will be an update in the next few days and it will be positive. If there was no oil flowing, would have been RNSd along with resignations.
….maybe not.
The question is: Does JA take a sand wedge or a 7 iron to get out of this SP bunker??
Looking back at the agm voting it seems that there is some board room shenanigans happening. Someone or some group tried to vote off 3 of the board and have a swipe at JA. The only person untouched was AF (General Melchett) and then they resigned! I’m not sure exactly what they are unhappy about on their massively inflated salaries….
Even stranger with the ask at 5.5 any more than 20k and I get quoted 5.65
SP seems to be rising by large amounts with hardly any trades showing. Is something going on in the background or MM games...?
I noticed that the workover rig looks like it has been moved from the N2 location in the last couple of days. Is that good news or bad? Surely results can't be far away now.
2 weeks on - surely would expect to know by now?
Remember we were told in April:-
The N-2 well was drilled in 1980 but was damaged during completion and, although in proximity to producing wells, was not able to flow oil to surface due to damage during completion. The workover program is designed to recomplete the well and remove any wellbore restrictions.
So results are due soon. (Expecting xxx Bopd extra?).
They were also looking at options for W-1
'Whilst conducting the N-2 workover the Company will consider all options to complete the W-1 pump installation'.
It must be time for some good news after the last 2 sp disaster years??
Pump it up...
Now ditch Romania and sell it off for some extra $$$$$s.
C.
Thanks cta. Fingers crossed. Only second bit of good news have had with this share. And the first was a resignation last month.