Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Somebody needs to remind Sunak & Hunt that the idea of a Windfall Tax is to, err, tax "Windfall" (i.e. super) profits. Plainly there are no "super' profits now so logic dictates that the tax should cease with tax on last period's profits. But we know logic doesn't come into it with Oil & Gas companies and we know Starmer will make it worse so the future is dire for companies with North Sea interests.
I though there might be a spike this morning and I sold my shares here & in SQZ this morning. What a bloody shame this all is.
On here Toffers posted:
The problem is you lot are so multi monikered that you post the same tripe to yourselves, pat yourselves on the back for your own posts with your own recommendations, so as to try and make yourselves look clever.
On GGP Toffers posted:
The problem is there are so many people on here with multi monikers, I am not one, but they write and then respond spewing the same trash to answer their own post and back it up and then they recommend all of their own posts.
Not exactly original thinking!
You'd think Roberts would be made of sterner stuff, being a man of steel. But I don't believe much, if anything of what BOD says. The shareholders they spoke to were nit in favour but simply decided to see what the final deal looked like before they would say NO.
The SP now is a complete and utter joke. It's virtually back down to when I first bought the stock before the RNS which announced the "transformational" news about Havieron. Well that sure is some transformation!
Sort it out Mr Day.
b1ll i think this might have had some impact on panicky pis.
eurasia mining: cash now almost exhausted, no bidder – time for a full fess up statement, £82m market value a total joke
by tom winnifrith, the sheriff of aim | tuesday 9 may 2023
disclosure: i have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. i wrote this article myself, and it expresses my own opinions. i am not receiving compensation for it (other than from *************). i have no business relationship with any company whose stock is mentioned in this article.
during the past three years, eurasia mining (eua) has pretended that it is in receipt of srrtious bid interest for its cash guzzling insignificant pgm assets in russia, assets where the cost of mining is, per oz, greater than the price metals are sold for. using this ruse to push up the share price it has managed to get away three placings at share prices which are a multiple of where the shares trade today. but now the money has almost run out.
at june 30 last year cash stood at £13.6 million. but the operational cashflow in the prior six months was minus £4.1 million and capital expenditure was a £7.1 million spaff, a total burn of £11.2 million. sales in that six month period were a paltry £102,000. now things may have been tweaked in the eleven and a third months since the last interim period. but the cashburn in that period was £1.87 million a month.
the company says that at the end of march cash was down to £3 million. so things were tweaked. i do not expect there was much of a budge at the revenue line. there may have been some inventory sell down or invoices actually paid, capex may have been reduced, but even at that reduced cashburn then by mid june all the money will have gone.
strangely, for a company facing a duet with the fat lady in just five weeks’ time, the amount of unsold pgms held in russia continues to grow – it was £5.6 million at the end of march. surely folks smell a rat? if you yourself were facing bankruptcy in five weeks but sat on assets that were readily sellable to create hard cash, you would be selling those assets fast. eurasia is building up those assets. that is an almighty red flag.
so, ceteris paribus, eurasia is running on vapours already. and that begs two questions:
1. will aim regulation allow eurasia and its disgraced nomad and broker sp angel to get away a fourth placing while pretending that a takeover is just around the corner. the company is not in a formal sales process any more will it pretend that it is any process at all. surely it must clarify matters?
2. will eurasia be able to secure any funding if it fesses that, after all this time, there is not going to be a bid? we know that much of the dodgy russian money that came into eurasia has left as the russians dumped shares onto the morons, will the russian’s spin the wheel again? and if not will anyone want to back this compa
CF is now yesterday's man and we move on but let's not forget that he set up HVO, spun off POLB & installed competent management in both. He's an entrepreneur and people like him are always keen to move on to the next challenge. Thank you Cahal.
finnCap positive like Liberum and reiterate their SP target at 35p. HVO clearing the decks to bring an end to the CF era.
SP holding up well after early wobble
I wish I had seen people's concerns earlier about the dividend as I could have explained and offered re-assurance that it was almost certainly a mechanism to put right an admin filking error. Sorry about that.
I've been absent from here for a while skulking as my investment dropped lower and lower every day but I did enjoy the preso today and am now positive and only wish that greater effort had been made at the outset to fully explain the deal.
One downer which is not a surprise (at least to me as I laboured the point when we all picked apart the deal on here) is that Mitch confirmed the the Tailwind tax losses (about which great play was made) can only be offset against (the old) Tailwind assets, i.e. essentially Tailwind's future tax profits on it's own oil assets. I suspect that many think that the tax losses are available to offset against the whole company's profits. It will many many years to exhaust them.
Anyway, I'm happier now and good to be back in the fray again.
GLA
Can't we simply work on the basis that the experts in the drilling game actually know what they're doing. Enough of people here saying Im not an expert BUT.......
They obviously planned to test in a certain order. I don't think they wake up on a Monday morning and say where shall we drill today chaps! But then again I'm not an expert
Feels like a good acquisition but i was interested in Andrew's words
"Kistos has evaluated several transactions in the UK and Dutch sectors, but the imposition of punitive windfall taxes and a lack of fiscal certainty have meant that both countries remain difficult places to commit capital and ensure continuity of shareholder returns".
Should send a dagger to the heart of both the current Government and Labour, that is if they give a damn!
lol, Manraj, I think they somewhat overestimated my financial situation!
I can't remember why they phoned me but it might have been because I contacted them about something or maybe answered a questionnaire but they were very persistent usually when there were placings for any of their clients, none of which I was interested in.
I got fed up with them in the end told them I was scaling down everything in the bear market and that was over 12 months ago.