Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thank you Tom
Do you have a link please?
Adon/Molatov it's certainly a strange one.
If you're balls deep or full of FOMO, it's positive.
If you remove the bias, it's simply 'why is this needed' which leads to more questions which they could of easily dispelled by continuing the distance progress reports which have stopped since they realised they were missing the last 2000ft of pipe.
Ezhik, I've asked myself that question many times and only they know the answer, so we're forced to speculate. My answer is 'while the insurance is paying for it... as we don't have the funds/share price stabilty, to redrill right now'.
Not sure where the market speculation was that 'caused' this RNS.
Feels like one of those 'hang in there' messages that are 50/50 for the benefit of the company/shareholders.
Richard Griffiths increasing his bet
No clear market direction, just current 'players' running their game...
Found by darrin1471 on advfn:
September update from Onward Opportunities who hold 4% in ANG says:
"PE interest in fishing tackle retailers in the US & Nordics"
https://onwardopportunities.co.uk/wp-content/uploads/2023/09/Onward-Opportunities-Half-Year-Update-September-2023.pdf
Only been a volume of around 150m since the placing. I think we can expect more churn still.
They have only sold 490k. The figures in the original RNS were wrong.
We can still expect more of the undignified rush to get 10% that you'd expect from the average TP placing.
2.5m traded after the bell last night is the right amount to close their short position....?
"Overall the Board is confident that a combination of continuing UK sales momentum with balancing European growth and profitability means that the Group is well placed to deliver revenue and Pre IFRS 16 EBITDA in line with full year market expectations"
With a required 39.7m to achieve this in H2, they must have a good momentum leaving H1 and into August as they'll need an increase of turnover in H2 of around 12% (2023 35.2m)
It would help then if they actually finished the application process for the connecting pipeline from 16-2 then!
Why are they so afraid of actually saying what's happening at 36-2?
It's obviously not a normal pipe retrieve and replace scenario, are they having to drill it out?
Everything else is great, but just spit it the actual 36-2 news!
The reality is that for a small oiler they will always end up using the same local subcontractors, so for me the communication choices come from higher up in the structure.
We still face the percentage risk that it will not be possible to retrieve all the pipe and the subsequent choices 'flow-chart' from that.
Nice tracking Adon, looks earily quiet though :-(
Adon, I agree it's a conundrum, but if 16-2 is economically viable as they say, surely at least they would have the pipe permit ready to go by now?
Anyway, I was using 16-2 as an example that no news doesn't necessarily mean that everything is dandy, unfortunately they have lost my trust in that department. 3 weeks of no pipe progress at 36-2 with no a word said was enough for me to sit back for now and only watch.
1) it's ZPHR that are not following up on the permitting for the pipeline
2) Oh dear
3) Most likely at this rate
So they will need the permit approved for the connection pipe. So why haven't they pursued it yet? (I don't have an answer)
MTucker it's the permit for the joining pipeline that Adon found, still sitting on the shelf not persued.
As for 16-2 test etc, I think the situation is that they will need a new permission for flaring to test further if there is no pipeline/sufficient storage in place. Which just adds to the head scatch further.
We know that the Dominion main pipeline will be fully functional by the end of 2023 so surely they need to start work now?
This is the link for the 16-2 connection pipe application, still on the shelf:
https://eplanning.blm.gov/eplanning-ui/project/2022212/510
MTucker, look back at what happened at 16-2. How 'significant' were the problems there? If they aren't that 'significant' (as per their statements) surely they'd have seen through the permit application for the joining pipe needed ready for autumn production??
My point is that actually they don't HAVE to reveal bad news until they are utterly sure that it's bad news, or at least that seems to be the path they are currently following. By not saying anything yet, it most certainly does not mean that everything is dandy.