Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yep, had another top up, but missed the dip by 20mins. Well done to those that got it. I was having breakfast. This extended delay has allowed me to increase my holding by 25%. I get paid tomorrow, so if it stays sub 80p, I'll have another tranche.
My guess as to what is going on is that the price is being pushed down in the hope that the delays to connecting the gas will result in us running short of cash. I expect those that are pushing this down are already on the phone to PB offering to lend him money in a placing at around today's price. I hope that he has the good sense to roundly tell them to F. off.
Looks like short of shares, bottom reached, today may tell.
Literally printing money buying at these levels
Had to buy. If the Muppets can,t see it, l can.
Long term hold for me - the current situation is wearing but not exactly an unknown in these type of stocks. The engineered walk down of the stock is very competently done but increasing volume suggests a capitulation and turn is close. I was interested to see Challenger have had some success in SW Trinidad. Maybe more expert holders can comment on any significance? https://www.londonstockexchange.com/news-article/CEG/saffron-2-update/15030522
Maybe waiting for the completion of 'Head and Shoulders' (72-75p) before MMs push it back up?
I totally Agree it’s Just MMs and short sellers bringing the price down...
I will not be giving them a single share..
Just turn off, and look back in end of Q4 and see where we are then..
Gla DYOR
Nothing insane here, the numbers tell the story. Any extra production from Coho and the others will only turn into cashflow and then to shareholders. All that matters is the size of the holding that determines the extragence of the life style. When it turns then it becomes expensive to accomplish the dream. So the next eighteen months to build the dream. News flow the key not the price. Is this the holy grail of shares, each man to his decision and belief. The answer lies in the research.
It is becoming insane.
Maybe we need a little Rudyard Kipling since this is a London Board.
If you can keep your head when all about you are losing theirs,
If you can trust yourself (and Paul and Xavier Moonan too) when men are doubting all of you,
If you can wait and not be tired by waiting, ,
Then maybe you can buy this grinding collapse, rather than selling all in panic.
Of course if the story is unraveling as badly as the share price, then that may not be the wisest move. But so far I do not see a fundamental change in the story. They still have gas in the ground at Coho and especially Cascadura, they still have the NGC contract, they still have development wells that will quickly boost production and ramp cash flow, there is some exciting exploration ahead starting with Royston, they still have the canadian rig coming to Trinidad. They have higher oil prices and a new 10 year lease on the legacy lands that will make some drilling there have high return. And they have no debt and money to complete current plans for rest of year. Let's just get it going and see what happens.
They have proven the concept of turbidite sands on land in trinidad with over pressurized gas in multiple sand sheets that can be exploited much cheaper than deep water deposits.
Canada closed at $1.33 cad / 77p UK. It’s becoming insane!
This is sure price is seriously ridiculous ......... games being played. Maybe someone or group is doing this to make a move for everything .....
It remains very brutal out there. Just bought shares in US under US $1.10. It is totally understanding to have an impatient tone, or a worse tone for that matter. But the story still seems to be intact. And Xavier Moonan is still working to help make it all happen.
This is helpful information Scott. Thanks for the update and forgive the impatience of my tone.
Update from Paul would not be helpful unless there is actual progress on some item. It might even to counterproductive if it simply indicates that more patience is needed. We need items like:
1. Coho is hooked up to production at 12 mmcf/day and will net $600k per month.
2. Royston drilling is complete and wireline logs indicate 700 feet of natural gas pay with testing to begin immediately.
3. EIA statement has been submitted and accepted for the entire Cascadura project plan. Work is beginning on the second well pad. Meanwhile NGC will connect to the first well pad (where the Casca1ST and Casca deep wells are waiting). Pipeline construction and construction of surface facilities are starting simultaneously with expectation of sales within 60 days.
4. Canadian rig has arrived in Trinidad and has been mobilized to one of the legacy blocks where drilling (of first of four wells) will begin this week.
If Paul has nothing to say in this vein, he should just wait, because we already know that we are waiting. We already know that he is very good at presentations and updates, when he has something to present and update.
yep, that is what frustrates me. this shouldn't be that difficult.......has the delay ever been adequately explained? What do we need do to make it happen? I remain a believer, but this erosion of time is really trying my patience......
I can see getting killed by needing a 250 mile pipeline. But the Coho site was chosen for the first exploratory drill because it is 1.3 km from a major pipeline. And it is over a year now and it is not hooked up.
This is starting to remind me of a share i held many years ago, Arrakis Energy. Good reserves but couldn't get to market because needed 250 mile pl. In this case, the pl is much shorter......
I think it's about time we had an update from Paul.
Royston spud?
NGC progress?
I keep topping up at new low's and the SP is still dropping :/
I agree totally. Would staunch the bleeding we have had on the price lately. Has the delay there every been adequately explained? Seems like that pipe has been sitting there quite a while.
From memory, in 2018 there were 10 wells drilled, they went very smooth, took little time, and were hooked up very fast giving boost to production figures in only a matter of a few months. I mean seriously they take like 14 days to drill, and they produce to tanks that get picked up by trucks. Like an ATM machine that spits out cash daily whenever you visit it.
The execution risk here is very small, they’ve done it before many times.
TXP has a lot of cash, and a debt facility f they want to use it. Would you use some debt to buy something that paid itself back I a year, and then kept giving you cash for years after? I would, and I think Paul will be chomping at that bit now that the licenses are in order. He has mentioned don’t forget about the West Side Story many times in interviews.
Market is unconscious at the moment, a perfect time to take and increase positions.
I think the point of the last RNS was to show that we can improve cashflow from the second half of the year and that we have enough cash to more than see this remaining phase out.
Trek
I think news of Coho pipeline would make a massive difference. 6 million USD a year difference, so the stock price will definitely react. Cascadura the same, but much bigger numbers.
Agree that actual production from Coho might give a little boost. But that is a few months off. What I said was that the simple announcement of the final plan and the start of pipeline construction might not make a difference.
Hard to say for sure but the announcement of Coho production and the doubling of production would buoy the share price. Like you said, it would help remove some of the doubts of the process with the NGC. Tying in one well means that others will be tied in in due course.