Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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One more thing, sounder, which I have only just noticed:
What I actually wrote was:
'SOU has always exaggerated its prospects and is now considered to be a no-hoper.'
You then mis-quoted me as follows:
" SOU has always exaggerated it's prospects and is now to be considered to be a no-hoper."
You made it look as though I myself consider SOU to be a no-hoper.
I have never said anything to that effect.
Exaggerated or selling the business?
Maestros mentioned HUR and I replied to his comment.
I couldn't care less whether you could care less about HUR, sounder.
I've spent hours writing posts arguing with people who have written SOU off and I don't need a lecture from you.
" SOU has always exaggerated it's prospects and is now to be considered to be a no-hoper."
I couldn't care less about your company called Hur. We are deliberately up for sale with an attractive asset. An end game is in sight.
HUR is absurdly undervalued, Maestros.
Not only does it have a first-class team and world-class assets, but it is now earning revenue.
Compare that with SOU.
HUR has always under-played its prospects yet has done remarkably well.
SOU has always exaggerated its prospects and is now considered to be a no-hoper.
Let's hope the market is wrong.
I wish they would sell this sucker all my oily s are very frustrating this and HUR are getting a bit boring HUR always when there is good news the shar price drops STUPID
Good post, Dark Energy. Some well made points for consideration. Thanks for your polite message.
Jez, you make a lot of sense, and you have a degree from a good University
However...
Buy-in price is irrelevant, even though I know many people believe it is relevant (incorrectly)
If your average is over 8p, then you have already made the loss, get over it
All that matters now is where the SP goes from here
In my opinion if there is no deal, whilst the company may survive and eventually be OK, the short term SP will drop to <= 2p and stay there for a long time, so much so that your "go long" scenario effectively means you lose 75% of your current investment. I'm currently thinking there is around a 50% chance of this. Anyone thinking there is a >90% chance of this should be selling any holding
If there is a deal then the sale price could be anywhere between 10p and 150p with a very long tail above 50p, with probably a median around 35p. And no, I have no calcs to back any of these prices, its just my feeling
Also, JP neither knows, nor cares about, anyone's buy in price (except perhaps his own). He will aim to get the best price. That's it! He knows that "going long" has to be a credible alternative, but in reality is not something any stakeholder wants
Good luck on ebay
I agree, Trellis. This is turning, or will be turning, into another Brexit scenario: on one side of the fence will be the Remoaners who with their typically high averages of 50p+ will be living in fear of the LE deal falling short of their share price average. Most of these won't want to witness a loss of money so will probably opt to "go long" in the hope that a future drill can bring some much needed success and thus theoretically cause the share price to head northwards. Then there are the Souxiteers who with their relatively lower share price averages (single figures) who will be happy with a few bags return on their investment and will take the money and move on. In short, if/when a deal is presented to us, people will be voting a simple 'yes' or 'no' to it based on what their share price average is. Of course, there are always some who will sell out at a loss in order to recoup some much needed funds. Parsons has access to the register and will have an idea of what price to pitch the deal so that it has a good chance of being accepted by the majority of investors. Hence why my belief still remains that a LE pps of around £1 would make sense in order to satisfy the majority of stakeholders. Only time will tell as to whether or not we (a). receive a credible deal from a prospective buyer that is presented to us and; (b) should we receive a deal, whether or not it is accepted by investors and passed. #excting times apparently.
I’m expecting a 15-20% drop in share price today at least
"The Eastern Morocco portfolio marketing process is ongoing and the Board continues to expect the marketing process to conclude prior to the end of 2019."
"The Company remains confident in the potential of its Eastern Moroccan portfolio which, following the drilling of five wells and the interpretation of new seismic data acquired by the Company, continues to contain a number of high impact opportunities and plays",
RNS is as I expected.
My forecast is that there will be a fire sale early next year with the proceeds just covering the outstanding debt with no value for the shareholders.
A sorry mess indeed. Only hope is if a new leader is found with ability and immediately before the current team eat the remaining food in the trough.
Sound Energy - RIP.
Gasbag
The auditors do specifically state that given the company's cashflow projections, the existing £11m pile won't even last a year...
"The Company's cashflow forecast for the twelve-month period to September 2020 indicates that additional funding will be required to enable the Company to meet its obligations."
ffs trellis - you're showing your true colours at last.
final attempt to bash the company before a sale?
you do realise that Going concern paragraph is at the bottom of virtually every results rns of every company on aim?
I assume you WERE aware of the bonds BEFORE you invested?
It's a standard note and we all know we don't have cash to be here in a year's time without a fundraise. What a pointless comment. That was never the plan.
It looks like your rant that we'd spent all the cash was once again completely wrong.
Everyone knows it's either a case of selling up or raising cash to keep going... A going concern qualification isn't great but it's not exactly news
£11.1m cash as at 30 June & expect marketing process to conclude by end of 2019.
News blackout continues.
Yawn.
Half year report