Firering Strategic Minerals: From explorer to producer. Watch the video here.
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In respect of the F/Y figs for 2022 with, hopefully, a decent divd hike and details of the combo's development plans, the proverbial 'locked box' disclosures and forecasts, etc.,
With the sp remaining well below 'fair value', I'd like to think there'll be some respite from all the controversy of late - 'hope springs' and all that... sasa
I am hoping they will announce a one off special dividend to return some of their stockpile of cash to investors
Trouble is, there is no longer a stockpile of NET cash. NET cash is down significantly due to the huge debt they took on. Also, NET cash PER SHARE is also lower due to aforementioned debt and the massive dilution.
sasa,
Although I and others, including yourself it appears would love a decent dividend hike for reasons expressed by SP it would be sufficient for me to see last years final dividend of 9p per share held at a cost of ~£35m vs ~£25m for last year, anything less and the much hailed TW deal by Mitch would once again come into question. This would leave scope for a special or improved interim, we could even get a surprise of quarterly.
Mercuria will have final say on the dividends as this would need to be voted through at our agm, with founders plus Mercuria controlling ~29% of voting rights, what Mercuria wants, Mercuria gets. Lets see how they want to play this, eyes down it's Number 9, Doctor's Orders ( btw, number 9 was a laxative pill given out by army doctors in WWII, lol)
aimo & dyor
>9p
Hopefully the dividend will be around 12p. That would at least send a positive out to all shareholders inmv. That would also give them an option to reduce the interim if they needed to. For me I would be happy for total dividends of 20p.
For me the most important part is the promised ramp of Tailwinds oil assets following work in Dec / Jan. For me that's a key unknown and risk in the deal.
Hopefully it's on track and the step up in Tailwind production will be maintained.
One danger here is that Serica will play down the results and make a huge provision for EPL writing off all profit. This may help the cause to get this levy reduced,but could be a negative on the share price. Inmho.
upomega
It would be amazing if the BOD blamed EPL for poor performance as they were the ones who wilfully took us into more EPL taxes knowing full well about the EPL instead of doing the sensible thing of investing outside the UK or distributing some or all of the cash to people who it belongs, the shareholders.
https://twitter.com/surprised_trade/status/1646133223037059073
Not since the formation of OPEC+ back in 2016 had net bullish bets on Brent climbed by as much as they did last week.Money managers boosted their net bullish bets on Brent Crude by the second-largest amount on record following the surprise announcement from major OPEC+ producers that they would remove more than 1 million barrels per day (bpd) from the market between May and December.Speculators and traders added as many as 73,000 contracts to the net long position ? the difference between bullish and bearish bets ? in Brent Crude, the second-highest increase in such bets, per data from ICE Futures Europe cited by Bloomberg.
Serica Energy: upgraded to ‘Buy’, target of 340p
The bank’s upgrade follows Serica’s acquisition of private company Tailwind and the subsequent increase in group 2023e production by 46% to 44.6kboe/d.
Jefferies analysts also noted a 3% year-on-year growth in group production into 2024, supported by a 4-well infill drilling program.
https://www.proactiveinvestors.co.uk/companies/news/1011896/harbour-ithaca-and-serica-energy-rated-buys-amongst-north-sea-oilers-1011896.html
Finger's crossed for tomorrow and hoping the BOD do not forget all lth.
Well the market hasn't exactly got lathered up ahead of tomorrow's great reveal, we will see if Mitch can unstitch us poor shareholders by giving something of the third he has wiped off our stake holdings with a nice dividend announcement and buyback scheme plus some sort of transition project (oh sorry this isn't the Harbour page). It will be interesting to see the level of cash they ended up with year end, should have been ~£500m and how much they will include any Tailwind details.
As per the CEO in the past,and I quote the company welcomes new investors. So we should not take large share holders selling as a negative . Really??.
Anyway we should soon find out. Excellent new investment for new investors, but what about the rest of us??. Where is our return.
infor. fwiw
if they lnmv have let down lth. i will personally come up to the city and hang their b..alls ou to dry together with the spiv financial adivisors that backed this.
tomorr0ow is the the key. alternativelly i tfink they should be sued, buts lets wait and see.
For the plainteiff. 4,20 offer per share now 2,30. I would say fraud dont ya think
Oh and bye the way that is for normastits and banburyboy . unless of course you are genuine investors then apologies are in order ????
What you on about upomega “ Excellent new investment for new investors, but what about the rest of us??. Where is our return.”
Didn’t you and the rest of us by sub 10p, we have all made a handsome profit and more, i hope you sold some all the way up to 450p!!!
And surely, if it’s an excellent investment for new investors, old investors will be rewarded more so?
This game is all about crystallising profits, no point crying about missed opportunities
Maverick7
It is more about being mis lead re the Tailwind deal and share price decemation. It is very easy for the company to say that anyone holding shares should have taken a profit, Not the point. Why was this better than the Kistos offer for existing shareholders?. It certainly has not benefited me.Hey hoe . As i and a number of other lth have intimated why did the BOD strongly recommend to reject the Kistos offer. Worse still they proceeded to placate UK HMG at this vile stage in our countries state of affairs. Corruption springs to mind IMHO. Hopefully i will be proved wrong tomorrow morning,Fingers crossed.
Fwiw i still hold nearly two thirds of my existing holding . Average 40p
Upomega, for you I break my vow of silence. I’ve held this for more than 10 years. If I’d wanted a 13x return I could have sold last year >£4. I didn’t. You could have done the same. I remain a holder and have added in the early £2 range this year. Tomorrow is just first glance NOT the whole movie…
The motion picture begins NormaStits,but unlike you time may not be on my side.Hopefully though a hefty dividend will transpire.
Atb
Plenty of mileage left in you upomega?! A few years of 25p (and growing) divi per year wouldn’t be a bad start. Until the naughty boys at M steal us and take it private for ten bob per share somewhere down the line ;-)