Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
CEO constantly puts out false information. He said numerous times that orinduik drill location would be before end of year and now it's Q2 23 and we know that will slip as well. I wouldn't be surprised if Africa Oil sell out altogether.
Isn't it amazing that James and Eco always talk about the distant future. There's a low chance of success with this drill, Guyana the same. You are better to sell up. Whatever happened to the big strategic solar project that was abandoned a year later? Wonder what the final loss on that will be. They sunk 1.5 million into it and not a word about it from the CEO or company. But he these shares will be 50-60 pre spud.
Based on the points you have made, is it good for a CEO to be giving interviews repeatedly stating the share price will be 40p or even 50p. His last prediction of 50p plus has only a week to be proven.
Fortissimo, I don't agree with your explanation. We've slipped a month in spud date at best. CEO stressed in an interview in June that it would definately be in situ for spud SEP 1. Its not the way to run a company. Again, you don't know that the share price will rise. Perhaps it will fall. Guyana is a big question mark now also with Tullow drill coming up empty. No commercial oil has been found in any blocks other than with Exxon. As for Namibia, it's promising but why has there been no interest to date. Look at all four licences, no one of note there except for small holding by Africa Oil
I agree that CEO is glass half full but dates do matter. He elected to do that interview and should not make comments unless he can stand over them. If the last drill over ran, (which I doubt), then say so. It undermines all the other comments he made in that interview. What can or can't be relied on now?
Why make comments like the share price will have doubled before spud, talking about "baggers". He has no idea what the share price will or won't be. It doesn't matter what investors are relying on, this type of repeated commentary damages credibility and confidence.