Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Sadly I am unable to attend as I have a prior engagement. I continue to hold circa 1% of the stock and I do so mainly on the basis of the continued support of Pala and the II's. Liquidity is non-existent ergo the problem with the share price. I was in when the price hit 84p I was also in when the price was bouncing around 6p. My view is Pala does have a plan and given their modus operandi the plan will be based on an exit. I think they are at the end of their usual investment window and I also think that the SRX project is their biggest yet so their biggest potential pay day to date for them. Lets see what happens this week but the reality is the company is in prime shape they have delivered efficiency savings and rutile prices are hardening. I think the next few months is exit time for Pala there is little further value that can be added all that is now required is a willing buyer at the right price and I think Pala will be a willing seller!
I have been to the last two years agm had a chat with JS. What he suggested would happen has not materialised save for the mini placing and introduction of Legal & General to the share register. I cannot see how Pala will get their return unless a third party takes the company out and there is no sign of that happening unless the company properly promotes the company or declares a dividend. For me JS is proving no more than a manager. Pala have got themselves locked in by their own actions. The company has three brokers; what a waste of money. At least the board have stopped awarding themselves cheap and undemanding options.
Usually SRX AGM an anti-climax, I can't help but feel they need to deliver some big news this time round, lets see what happens on the 6th.
The so-called bigots won. fuelling racism by REMAINERS saying I-told-you-so is shameful! YOU LOST. Get over it! Markets already rising!
Will you be signing the petition to get a replay?
Boris and the brigots will give us a brighter future necessitating greater rutile usage and the sp of sierra rutile shall rise.Little Britain by that time will be the world's 11th largest economy
Little Britain and the Brigots a wonderful combination
It appears the Brigots decision will cause them to delay painting their fortresses.
The Mandarins as you put them may see an opportunity.
There will be a lot of Mandarins jumping up and down if the Brigots cause a recession
Do you really think the average American/ Chinese etc etc will be thinking about Brexit by Monday??
There may be an expectation that the world will fall into a deep recession and people will not have the cash to buy paint because of the Brigots
and nothing has changed with the company's rutile assets nor the infrastructure.
All products sold in dollars - uplift of 7% today in revenues!!!
I kind of tire of posting these days the fundamentals all remain the same the problem of lack of liquidity suffocates the price. As I have however said so very many times Pala and the II's have an end game. Palm are right at the end of their investment horizon and will inevitably be looking for an exit, the II's will follow the fortunes of Pala. it is simply a waiting game. The II's did not participate in the placing a few weeks ago for fun. Why would they buy an illiquid stock if there was not the promise of an exit? Sit tight has to be the message.
I am with you on the points that you make DShox. I am pleased that SRL are able to forward contract because that gives certainty as to the majority of the annual sales. The company can benefit in addition to falling costs of the 80% of sales plus the others additional sales that are contracted during the year. Should demand pick up further and should demand outstrip supply of the type of rutile that SRL mine, thus leading to a firming of prices profitability will improve. In my view should the sales price firm during the year the 80% or so contracted for 2017 will be at higher prices (so my theory goes) and with production being ramped up through Gangama, 2017 could be one of the best years fro Sierra Rutile for some time. I still have my suspicions as to Pala's motives and its attitude to pis.
Unless rutile production can be ramped up to 250000t.p.a. given the current overheads, profits will continue to be small unless there is a rebound in Rutile prices.
Small shareholders comprise only a very small % of the business and the buyout cost would not be significant in terms of the overall valuation of the company. Of equal concern is the slow build up in production.
I have added over the past few weeks in the hope if not expectation that he stock will move forward. But how do you think the Pala stumbling block will be removed?
In my opinion - manipulation. One gets some decent independent views which are good; some buyers appear and invest and a few strategic sales are placed the net effect of which is to suppress any price rise.
HMS prices are rising. Unfortunately, 80% of 2016 production already contracted. This will result in a small increase in average price unless production is significantly increased. Very quick production increases are possible in dry mining. It may be that major shareholders wish to keep the share price depressed.
Ricky - I am in France and I am not a subscriber and so I cannot o a shop and get a copy to paraphrase. Beaufort Securities who are not one of the three highly paid brokers employed by the company and now IC tip and promote the stock but the board of directors - oh yes they pay themselves.
IC tip of the week - SP going down then!!!
it is in my opinion being manipulated to suit Pala's interests.The lesson that Pala are teaching in my view is do not invest in anything that they have an interest in. All indicators are up but every now and again a sale appears which keeps the share price within a narrow band. The board are paying three brokers a lot of money to do what - look pretty. Sisay is just a manager who occasionally appears on a site like proactive and sings platitudes. He is I understand earmarked to be Sierra Leone's next PM. The trouble is it is unknown what Pala really want. All just my opinion and i have a quite reasonable holding - all very sad. I hope that the board looks after its workers better than it does private shareholders.
Tomorrow morning. IC Tip of the Week...