Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I wasnt suggesting about switching, I was just saying about adding and there was an opportunity there to make money. Yes I'm out of ENW and sp could well go up, I'm not the oracle, but I'm happy with the profits I got from it, sp could easily keep going to 62p previous ATHs. All depends on the news. Tom - Its not about being proved right or wrong, I'm hoping like many JKX shares will start going back up to 55p. The cash build is very good, we all expect JKX to perform better.
I did say ENW was a good alternative to JKX 11 days ago - of course several had a go at me (tom111 & Ripper). I've just sold out of ENW as been in it for several years and bought back in JKX at these levels.
ENW has a really tight free float 17% (+6% Pope Investments so really its 11%) and there was a billionaire takeover attempt couple of years ago, this could be happening again? They are also due drill results and these could be better than expected. I also believe that the major s/h 83% (Smart Energy) could be buying remaining shares, taking the company private off AIM. They dont need to be on AIM as loads of cash and never need to do a placing. I've never liked the fact that ENW or JKX directors never buy any shares in own company, not sure why and also neither pay out dividends. But something is definietly going on in ENW as theres been an aggressive background buyer since 20p.
Realtimebob - why are you on this BB? You dont own any shares and you constantly deramp and be negative - dont you have anything better to do with your life than stalking this BB ? You've obviously lost a good chunk of money in VAST and now very bitter, I'm sorry for that, but why dont you redirect your negativity to vast directors than the remaining share holders in VAST.
Realtimerob - youre talking tosh 'to achieve the exact same outcome - to obtain free cash, he could, for example, just create a share award scheme instead' - his salary is already £265k and a share award scheme is already in place which nets him more, but not millions! His award of the 20% of BP 1.5bn shares at 0.0017p = £2.55m at the time (now 15m shares) is now worth £750k at 5p.
What did he pay for the BP mine under AP Mining? Hence why I think he or Roy Tucker might have sold on the way down, or the broker accumulated shares in anticipation. Regarding the legal aspect, I have already commented on that, FCA dont give a sh*t as it goes on ALL the time with much bigger companies.
Pecten11 - you can jog on too. You're obviously just as naive as Sandy.
I've already said I could be wrong and am just speculating. Who else has 1% or more to sell? Maybe its something to do with the Atlas loan, £145k sell could have been anyone in reality.
Possibly there's been forward selling and the broker been collecting shares in advance of the lock-in period ending, Shore Capital have one of the worst reputation in the City and again I dont trust them one bit.
I see from now and end of year a lot of news and sp volatility.
Sandy - I just think its a plausible explanation to the heavy selling and obviously I dont trust the directors, Roy Tucker has been milking this company for many, many years- over £100m in placings! I find it insultive that you cant even take this idea onboard and you pass it off as a 'silly idea'. And why you say in 'a hurry to sell'? I believe the selling started straight away and been drip-fed into the system, possibly an iceberg order. I could well be wrong with this idea and genuinely hope I am, but as always with Vast you have to think the worst and hope for the best.
Sandy I think you need to get a grip of how unscrupulous AIM really is, the FCA turn a blind eye to so much. Just look at Neil Woodford and the hundreds of millions private investors lost in his fund and the fact Woodford has got away with it without any financial penalty or charges, in fact he's coming back with a new fund! Knowing already how AP has acted and lied in the past, you still trust him not to have sold any shares? Brian Basham has written several times to the FCA about Vast and they do nothing. Also its not always directors that are in lock-in its HNWI or companies asked to participate in pre-ipo.
Sandy - you really think directors (especially on AIM) have never sold shares before lock-in period ends? If you really believe this then you are very naive. Just look at Guild Esports as an example, lock period ended 27th Sept and share price like Vast has kept falling last 4 months from 8p to 4p, selling shares months before end of lockin period.
Yes, I'm happy to take the risk/reward from 5p. Doesnt bother me someone sold 1%, let them f*ck off and it stops the sp being constantly suppressed, could well see a bounce now they're out.
I see a greater chance of seeing 15p than company going bust. I'm also working off same sp action from two years ago, when sp hit lows of 0.10, I loaded up at 0.15p-0.11p and sold at 0.33 and even though very happy with profits & % gains the sp price went to 0.55p.
You need balls of steel in this game.
1% sell yesterday = Wouldnt be surprised to see in next RNS that Roy Tucker is retiring and stepping down, therefore been selling his holding before lockin (the b a s t a r d). And wouldnt put it pass AP selling also.
It was a clear conflict of interest, and I'm sure was a big stumbling block for Vast getting a finance deal. The £4.5m from placing was spent on machinery (ordered from China for BP mine), maintenance of railway line, shaft lift, etc and wages for all Romanian miners (200-300 of them!) and of course the directors salaries.
My only suggestion for the continued price drop since consolidation at 9p is that one or both Roy Tucker or Andrew Prelea have been selling their holding before the 12 month lockin deadline of Nov 23rd, VAST bought last part of BP 20% from AP Mining (AP & Roy Tucker) at 0.0017p (17p) but officially the RNS stated they would be locked in for 1 year. Many dodgy directors dont adhere to the lock-up period, so I am assuming Roy who is in his 80s and wants to retire has been selling up. Even though they received shares at 17p, selling from 9p-5p still gives him a nice chunk of money circa £1.3m. Just my thoughts. RNS 23 Nov 2020 below...
https://www.investegate.co.uk/vast-resources-plc--vast-/gnw/result-of-general-meeting-and-acquisition-of-remaining-20--in-baita-plai-polymetallic-mine/20201123164007H0844/
Not sure basing previous well results is a surety of the new well results, hoping its much more! But its a benchmark at least.
Yes need volume/herd to come back, obviously missing the Baron factor and the billionaire takeover from few years back that excelled the sp to 63p. I've tried on twitter to ramp ENW and recently on JKX BB to sway people to ENW but there are a few on twitter with big followings (sharemoney and slowie) that stick with JKX and dont punt on ENW purely because of the high capex. Sharemoney was in ENW but lost his bottle and sold out in mid 20s. And their followers are literally sheep. Very sad really, especially seeing sp movement in JKX last couple of days 56p to 45p and ENW bouncing back nicely from 36p to 43p. I did warn the JKX sheep that there's obvious flipping and last RNS had a muted market response even though cash build was very good, I noticed some big sells and I got suspicious, sp bounced following day was a clear bull trap and fast/hard sell off and sp fell back today to 45p.
I'm hoping that with a tiny free float it will accelerate the sp on very good news.
OfficerFigby - I know you dont know, was asking for personal target price (from Kroc & Oldholder) who are clued up on this company. Also all that jam from the Annual report is just usual stuff all companies stick in their annual reports.
Arden Partners has recently released an updated research note with 70p target price. (I wish!)
its the blind leading the blind on here.... ffs read more than 3 RNS and read the last set of Annual Financial Accounts! Dont be one of the herd!
What target price do you guys see as realistic? Considering spot gas prices at ATH, Co producing 5100 boepd and hopefully increasing, previous sp ATH 62p at much lower spot prices, do you think we are still undervalued at 45p? Frustrating there will be no (special) dividends or share buy back, I dont know why they've decided against this, similar to JKX no divis or buybacks.
SP up and down like a *****'s knickers... 56p two trading days ago down -7p / -15%, can see 47p -45p coming before the 10-15% punters turn up again for a quick feel again. LOL.