Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Well I am starting to have concerns about PB. He is supposed to be an experienced director.
I have doubts about the in country relationships. Don’t think anything is bad not in the slightest. I just think his profile and contacts aren’t what they could be. He needs to get his hands dirty and drop his other distractions. This arms length management is bs!
On a positive when I start to have my own doubts it’s usually a turning point and I am not selling these now!
Usual caveats
Trek
Peeps will be falling over them selves to buy here it's just a matter of when
No volume. So what's the real SP? It's hardly traded now, it's more a few people in the corner shuffling pocket change around. We need news and volume before we get a fair price (1£ or at least 1 CAD would be nice after Q1 in 2 weeks).
A few people sold and the liquidity’s a problem the slightest sells send it down and so many stale bulls it’s hard to gain and forward motion in sp terms … fundamentally things seem on track just a quiet period and people selling to put money to work elsewhere while they wait a few months … risky as you never know what might turn up imo !
It is simply inexplicable and has now moved back to where it was in early Feb, reflecting a market cap of less than £95m, notwithstanding well progress, confirmation of increased loan, etc.
We had a small kick in the teeth with the last RNS iMHO was very Dull have to say .
TXP is all gearing up for Q3 hopefully .
This is cheap as chips an I for one feel very safe from here on in with a modicum more patience .
Tidd83, As Sturm notes, Malcy did state that he met PB/JS while they were in London meeting investors. However, I can also confirm that I heard this information direct from the company, so this is fact not fiction. As an aside, why would I seek to misrepresent such information?
Source is probably Malcy, stating April 19th: "I met with Paul Baay, CEO and James Shipka, COO this week as they were in London meeting investors."
They can't reveal anything that would be considered "insider" information on such meetings.
So it really shouldn't affect SP much. II's probably just say "show me the money" and wait for ER's demonstrating cash flow.
Right now, storytelling doesn't cut it. But they might get on the radar, so they can call II's in two weeks and ask "Do you get it now!!"?
Alligator, can you evidence where PB and JS have met with investors?
I’m aware of the London visit but are you posting facts or fiction?
Spot on aligator.
Anyone else realise that, following PB/JS's trip to the UK to meet with investors, the share price has, once again, dropped on what can only have been positive news presented at such meetings? There has been an historical pattern of sp decline after past positive announcements (Cascadura development, first gas, new discoveries, increased bank loan etc) yet the company appears indifferent to the impact of such. I have suggested before that the company needs to seriously consider its media and PR strategies and, indeed, its nominated agents. In addition, it is evident to me that, courtesy of his past over optimistic predictions, PB is also suffering from a lack of confidence among the market makers and brokers.
Yeah I have it penciled in for the Friday 10th May as well, no reason to think it would be delayed over the FY23 results, should soon, how long do they normally announce results ahead of earnings day?
Did we get a date for the Q1 ER yet? Could it be as early as May 10th? Was the 12th last year (both Fridays).
That's just 2 weeks away :) Hope we get some FOMO before that. Just a repetition of the 2024 guidance (9.400 BOE's) should be enough to rerate the SP a bit.
Thanks guys, apreciated.
BEST thing go on trust pilot and see reviews a few good and bad there atb
Apologies All for the unrelated message here but advice please.
I am setting up a Live Forex account with Plus500, well, trying to. I seem to be reasonably successful with the Japanese 225 for some reason. When I tried to transfer the money Santander flagged it as a possible scam company. I asked P500 about this and they gave me a close, but different, reference number for their FCA registration.
Has anybody else had similar issues with Plus500?
Malcy has done several write ups on TXP in the last fortnight, i am sure in one of them he reiterated that his 200p target is still valid.
SimonT, Thanks for sharing, although, having read through it several times, I have concluded that it does not really bring any new information to the fore. What is missing is Malcy's sp prediction, not least given that his last promulgation was a target of 200p. The absence of this from his statement suggest that he is backing off this optimistic number.
Continued;
These plays, along with some of the newer blocks yet to be in the portfolio, gives TXP great opportunities in the longer term and in my view give a very rounded valuation for the company and where the shortest of term worries about production should be put firmly in context. A solid banker for the new Bucket list.
I met with Paul Baay, CEO and James Shipka, COO this week as they were in London meeting investors. They kindly gave me a couple of hours of their time, they knew that I was keen for an update and that I had a few questions from Blog readers to ask them and nothing was off limits.
TXP achieved Q1 production of 33,521 Mcf/d plus some liquids giving 7,015 boe/d against the facility capacity of 21,250 boe/d so scope for an increase which is where most of my questions had appeared. It is however a significant y/y increase in production and that fed through to an increase in operating netbacks and cash flow.
This created sufficient cash flow for an ambitious drilling campaign and further investment in Cascadura where a large number of locations have been identified and are already being drilled. The company is now a leading presence in Trinidad and its portfolio ensures a good long term supply of opportunities for the company.
Cascadura coming onstream in September added to the legacy production and that of Coho which had also recently got underway. The wells that initially came onstream have indeed showed a bigger initial decline than originally expected although payback is still excellent and of course reserves are not affected. What it does do is mean that the company might drill as many as 10 wells against the projected 6.
The wells in question that saw the decline have already flattened out and with such porosities and fractures exhibited a likeness to matrix formations and against expectations of 7/- b/d achieved 6/- b/d. But the good news is that having drilled these wells already they will have been drilled and thus coming on production in Q3.
I found that the map of the Cascadura development was fascinating as the CAS-2 and CAS-3 wells have been drilled further away from the facility and will pipe the hydrocarbons back to the facility. The advantage here is that they save $2m to test the wells, now they can spend that money on the pipeline and test when putting the hydrocarbons in and of course in Q3.
As for CAS-4 it will drill away from the 2 and 3 wells and head towards the Rio Claro block and the fault where 900′ of sand has been spotted and with pay likely on the other side of the fault as well could significantly add to reserves. This makes for good news and whilst the wells have not delivered quite as quickly as expected underlying value has not been affected.
Going forward, with its finances in good order TXP has a fully funded production and development programme in what is an asset portfolio laden with opportunities. The company has been working away behind the scenes getting away from the smaller, lower value ends of the portfolio and looking at new, added value and bigger plays in asset swaps and deals with the Government. Some of these have been previously drilled by the majors and some are considered to be adjacent to the play with significant success in Guyana.
Let's just see now...
I had an order that didn't fill. So no supply. Owners hold. At least they're not cheap. I hope they'll do the same in London.
Toronto has always been a minor market for TXP, unless a significant event occurs it is going to be pretty illiquid.
Add a whopping 6503 shares traded in Toronto today.
Market won’t even take £500 worth atm for a bed n ISA.