Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Was it $15m a month of buybacks because $15m for the year seems lousy give the $300m Fcf
With a dividend we would have actually see a return in cash
Just waiting for the next update to say because of the extra year of EPL the debt to ebitda target is now reduced further so sorry we can't do shareholder returns. They should go ahead now and buy back 20% of the shares they have the cash. can't see it happening knowing enquest.
Limiting the ability to use tax losses would be a disaster
Cash should be deployed via buy backs and dividends rather than getting 5% sitting in a deposit account. Not sure why they even needed the 0.5x target given tax losses and decent production numbers.
Roll on the dividend, 0.5x is there.
The debt isn't due until 2027, $500 million liquidity at 31 December 2023 and looks like the 0.5x has been reached. Surely nothing is stopping a dividend now.
It’s not an update on dividend it should have been titled cancellation of dividend. What a mess.
The yes it seems the 0.5x has been reached so a dividend announcement in March - or am I being too optimistic
Good update the first two of the Deliver, de-lever and grow strategy are ticked off. The question remains if they hold the net debt at 0.5x how much gets returned to shareholders vs how much allocated to growth. We are certainly overdue some returns.
Update on shareholder return plans in March. No mention of the 0.5x target.
Is there an update tomorrow? Any thoughts on what the year end net debt position will be?
Hope that hidden hand gets involved and starts moving the share price up a bit. 2023 wasn’t a good year for shareholders
So why didn’t they just sell the EP, reduce the debt and start shareholder returns.
I’ve read the update they have quite a bit of cash on hand now did they really need the new facility. Pathway to shareholder returns doesn’t sound like it’ll be soon.
The trouble is that the everything will be fine in 2 years scenario has been going on for the past 5 years or so and the share price keeps going lower. There will be another reason not to go ahead with shareholder returns once the 0.5x net debt to ebitda target is reached I bet.
Well I don’t see any oil demand problems on my way home from work…motorway av speed 10pm…getting into city even worse…city centre total gridlock.
Knowing Enquest sp it’ll probably be at an all time low when oil goes to 150.
U.K. gov should just give their part of the North Sea jurisdiction over to Norway that’ll bring U.K. to zero o&g production immediately
$93 Brent, what happens if it averages $110 for q4 - does it mean the 0.5 x target is reached by Christmas