Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I've just topped up further bring my average down to 61 pence - a far cry from my first investment in Soco at over £3.00 a share back in 2015!
Every faith with the expertise of the board of this company and their future ambitions, hence the further investment, today.
Well your right there! This dog certainly caught me - circa 5 years ago bought @70 pence a share - averaged down and diluted to 6 pence a share. Sold my holdings before Xmas around 4 pence a share.
All those ramping this company, should bear in mind...…. It took Lekoil over seven years and some £75 million to bring the Otakikpo marginal field on stream. How long and how much, assuming that the company can raise the borrowings, to bring these other 'world class assets', drilling in one of the most, inhospitable and dangerous places in the world, into play?
Its a huge risk for anyone to invest unless they can afford to loose their shirt.
Bridgedogg1 - If the company fails in securing funding to pay the operator, (Optimum) by next month, is it likely that Optimum could force the sale of LEK license in OPL310? Yes, it could do so in which case LEK will lose the asset. Will it do so? I don't know - as has been previously said - I don't know what's going on behind the scenes. LEK may secure funding.
Currently, the market is valuing LEK circa £16million. The company has $21.4 million of debt. That would appear to me, that the market, at this time, isn't placing a great deal of value on LEK's other assets.
Consider the case of onshore OML11 Otakikpo - the length of time and the considerable sums invested to make this a producing asset, as to a reason to the markets present low valuations.
Basher? Have I posted "Plagiarism" that's untruthful?
Haven't I the right to give a contrary view, pointing out the not inconsiderable risks in holding this share to any potential investors?
Am I an admirer of this company and its board, particularly in light of its most recent announcements? No, I'm certainly not!
Payments due to Optimum (the operator of OPL310), of $10 million are due by February 2020.
Lekoil also has to demonstrate funding to the tune of $28 million for the first appraisal well by the same date. failure to make these payments and confirm the funding (to the tune of $28 million) is in place for the first appraisal well “by February 2020”, the operator (Optimum) could in effect likely force the sale of Lekoil’s stake in the licence.
On default, my view is Lekoil will very likely lose the OPL310 asset, with Optimum the likely beneficiary. So that is a shedload of balance sheet write offs due down the line, with the possibility, if not probability, of debt covenant challenges as a consequence.
The dramatic share drop, is an indication of the markets pessimism on the ability of Lekoil to secure the necessary funds.
Shares in Learning Technologies (LTG) are off by 5% today at 66.8p but that still values the company at £442 million. The reason for the fall, the publication of a "short dossier" by Stockviews which seems pretty damning.
Stockviews Our intrinsic value of 40p represents ~50% downside.
Perceptions of high organic growth are unfounded.
Competition is intensifying.
Short-termism is eroding competitive position.
The most excellent Tom Winnifrith -"Stockviews are no fools at all and I would not want to be on the other side of the trade from them."
Agree with other comments from private shareholders. The offer significantly undervalues the company. Very disappointed that the Board should actually be recommending such a mean offer!
The company needs to update the market on the progress of appointing a new CEO and announce the resignation of John Clarke, the Chairman. A major shake-up is required to provide clear leadership and restore investors confidence.
Nett Debt stands at £24.6 million. Significant cost saving measures need to be taken, to avert a serious risk of a discounted placing. More positively, the company is generating free cash flow. Last fifteen months have been series of unmitigated disaster, masterminded by a board of incompetents! Short term, with sentiment so firmly negative, this could have further to fall.
If any further evidence to the cluelessness of the present board is required :- August 31st ......" Quantum Pharma has made good progress during its first half, in line with management views, and anticipates meeting market expectations for the full year." Just six weeks later........ expects the performance in the second half of the year to be "materially below market expectations" Says it all...... a bunch of highly paid Muppets!
This is the second time QP has disappointed the markets as a consequence the share price has taken a battering. The present board have shown serial ineptitude and shockingly poor decision making and should resign forthwith. Only with new credible industry leaders at the helm will investor confidence be restored in what is a first rate business.
As far as I'm concerned the board has lost all credibility. To date, the destruction in shareholder value has been staggering. It's to be hoped that the more proactive institutional investors will start applying pressure for boardroom changes.
Appalling set of results! Woolly statement by Mr Riggs regarding exactly what "performance will be materially below market expectations" means....... why not any quantitative figures? The need to appoint a 'hard hitter' CEO is now imperative!
Very very risky speculate share! Too many of these Chinese companies are nothing but a scam, in my opinion.
Excellent trading statement! One to tuck away for five years!
As I'm down over 70% on this, any good news is very welcome!
One of the best companies on AIM! Great trading update today!
Sculptra is better and lasts longer than botox, the potential for this product is huge! A massive game changer for our company. Just hope we aren't going to be taken out on the cheap! Actavis to buy Botox maker Allergan for $66B
Sinclair is moving ahead nicely and attracting bug buying trades..... excess of 13 million today! Got to be an excellent buy just on fundamentals, the added possibility of a take over, just adds spice!
Renewed take over rumours?