Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think a statement from the Board would help here. The silence is deafening...!!! and not helpful...
There seems to be a theme developing here...Where cost of production constantly exceeds actual production.We have a ceo as an ex Italian banker(I said banker) is constantly chasing ways of raising finance to fund the operation.You do wonder why these assets were abandoned some years ago..I think it is a case of trying to make a "silk purse out of a sows ear." Foerever hopefull...
Hi Tiger By The Tail and your very appropriate comments....Yes my concern is Hummingbird and the 33% holding THey are the largest shareholder together with Key Venture Holdings and a Paul Andrew Quirk..They have the largest holding and i am sure a large say in what goes on with Cora..That is the concern..At the end of the day thay have to produce gold to generate profit they can explore all day long and produce nothing..AS you say lets see what happens ...the share price is recovering..but as with all aim companies the lack of communication and release of information adds to the concerns. okay cheers..bob.
I think this is another example of an aim listed company that has produced absolutely nothing other than long reports confirming that there is gold in the project. The association with hummingbird does not fill me with confidence..they have considerable debt and after some years of gold production cannot provide a profit for the company..nor a return for the shareholders.But what they are doing is providing themselves with large salaries .Yes directors very happy...but shareholders being fleeced ..Cora you are a gold mining company ..So why have you not produced gold.....!!..
The company has just posted losses of �4 million for 2017..adding to the previous �91 million losses between2012 and 2016..Keith Bush talks excitedly about the future prospects..but as we can see cost of production continually exceeds the oil revenue.�1 pound of oil production is costing in the region of �13.49...Further spending of share-holder funds in 2018...This is only an investment for the directors to fill there pockets not to produce oil.Please High power Petroleum...either boot out the current directors or find an investment that can provide a return for share-holders//.Action is required.
Answer the question Mr bush .How much oil revenue is going into the bank account and after the cost of production how much is left as revenue for the benefit of the company.and improve the share price.Remember of course that i pulse has a 57% interest in the company andthat will be draining profit from the resources.unfortunately Mr Bush your claptrap and hyperbole will not make an impression on actual revenue although you may think it will persuade shareholders to invest...Stay well clear..
Further rubbish issued by Keith Bush.The company failed in its capital raise only 54.8% of the expected amount was raised.That shows the confidence that private shareholders have in this company. That is NONE. High power petroleum have now a 57% holding in the company after exercising the optionto invest in the company.Keith Bush was asked the effect of this investment(i-PULSE) are a wholely owned subsidiary of High Power petroleum.He avoided the question and went on to give hypothetical figures for future production....High power petroleum will require a return on that investment..ACtual production figures given ...None...all fiction and hyperbole...Shareholders have lost considerable amounts of money through this company and will continue to do so..THis leopard will never change its spots.Stay well clear..
Excellent analysis by Phil 01...with commentary about the capital raise and the buying out of HP2..Certainly a case of financial musical chairs with valuations based on hypothetical production figures.Remember that this company in the years from 2012 to 2016 as Northern petroleum(still the same assets) produced � 5.63 m in turnover with cost of production of �75.97m....That is for each �1 of production it cost �13.49...I cant see this changing..Keep well clear.......
This company has continually lost money...many millions between 2012 -2017.The shareholders have suffered but not the directors who continue to fill there pockets.The interview was pathetic.No current production figures and no doubt the losses continue..Pie in the sky projection figures to try and persuade shareholders to contribute further to this debacle.They are trying to buy out an existing shareholder.If the investment was so good why do the want to sell there share holding...KB talks about tripling production..This is fantasy land...Keep well clear...
I have just listened to the interview with Keith Bush on Proactive Investor.How Pathetic was that..No production details for canada...is there any oil !!!..and then Keith Bush prattles on about the potential for the Italian Prospect when in the years 2018/19 they might get round to doing some surveys..eergh..while he and his co-directors fill there boots with shareholder funds...cant believe the hypocrisy that continues here..FRench Guiana is also a dud..Are you listening major shareholders..
I reported that the losses for this company were arround 5m..just had a look at the accounts again the losses for between 2012 to 2016 were 62.4 million ..wow..i could not believe that.. Now the directors are spending us$ 2.5m on opening up 20 wells that have been closed for 18 years. eerrr......Using a system with Blue Spark Energy...sending an electric charge down a metal rod which will miraculously help in suddenly increasing the oil production out of these defunct wells.There is no indication anywhere if this new science works or the success High power petroleum have had..MR Bush indicated they would achieve 300 barrels aday...he never did....we are still waiting...He needs an electrical charge up his backside to get him out of the company. have a good day..
Any Production Mr Bush..I see that 2.5 million us$ has been given to High Power Petroleum....to send sound waves down 20 dis-used oil wells..THis is really going to inject a bit of pace into the oil production...Not... How succesfull are HP in using this technology...how much oil have they generated !!!!!!..... How much cash is left i wonder......or is it all going into your pocket Mr bush......
More of the same from K R Bush..They are opening 20 wells that have been closed for 18 years..How desperate can you be...at a cost of 2.5 m US$..Cash raised in cap/raise 9.7m us$ now down to 8.1us$ in bank then deduct the costs of opening old wells.then be down to 5.6US$.. PLease refer to the accounts for the losses of 2015/2016..5m US$ Plus....How can this be justified..What actions are the major shareholder Cavendish asset management taking..Are they asleep...wakey wakey...
The best action you can take here is sell your shares while they have a value.AS i have discussed before lookat the 2015/2016 accounts of the millions of losses that this company makes it is allocated to the Equity Share Holders.They have raised capital again but yet again that will dissapear down the big expenses/administration/directors salaries. black hole..If you want a more severe critique please review the comments of Share prophets/Tom Winnifrith..for an amusing resume(but not funny for shareholders)...If you want to take effective action sell your shares and sleep at night.Dont support the owners of this company..
I certainly agree with your comment Rookie124....The only time you here from this company is when they want to capital raise...to fund there large salaries....Oil production...whats that i here the Directors cry....I am to busy drinking my Moet and driving round in my Merc...Yes Mushroom management and very big ones....
The directors dont exactly seem to be breaking the bank when it comes to buying shares or exercising share options..particularly when you consider the vast sums they extract from the company. If you want to see an example of a CEO who believes in his company and the future of his company look at Zenith Energy.He has sacrificed 100%of his salary in buying shares...........Have NOP released any production figures for December/january..
I dont expect criticism particularly from some-one who cant spell.I was trying to make a constructive point but your observations go no further than your own ego. just remember losses to end June 2016 1,225.0000 £ to end June 2015 2,565,000 £....I hope for those who make interesting and valid contributions i wish you all the best with your investment.For those who cannot contribute its your loss. this is my last contribution on this subject.
Well i would rather look at fundamentals and facts as opposed to making an investment decision based on KB share purchases.ASk Warren Buffet about Fundamentals.......I would be only encouraged to invest here when the annual losses disappear and the oil production is commensurate with there hyperbole.....PLease look at admin costs against current production...Not Encouraging......Not for me...but best of luck with your Investments..YOU will need it..
I am amazed that this company continues to trade.The difficulty they have is that of producing oil. they are very good at spending the company money.Net loss to equity shareholders 2016 1,225,000 in us $..2016 accounts please refer....They incurred us$ 3 in admin costs in 2016....The involvement now with Hpp will take 25% of any revenue from helping the current share price.The cash raise will be used to fund the winter work programme and also the directors high salaries 300th plus.....The directors of HPP will also want to extract income from the company....This company is very good at talking about potential oil but not producing it....and paying themselves large amounts of money without the Profit made within the company...The major shareholders Cavendish Asset Management and City Fianancila management need to take stronger action here and apply more rigorous financial control.
I am absolutely amazed that this company receives any supportat all.AS previous members have indicated the directors have taken out vast amounts in salaries when the company has nade no profit at all. All the company does is make major losses.Year end 30/06 loss 1,225,000 year end 30/05/2015. loss 2.565.000..Closing cash 2014 7.15m Closing cash 2016 1.39m. all figuresindicated in the published accounts of the company. This is a severe case of corporate mismanagement.Why dont the major shareholders cavendish Asset Mangement and City Financial management have some sort of control and management of this company.It would appear they are allowing the directors to use this as there personal cash cow with no responsibility towards any of the shareholders. Again they are running out of money hence the reason to be capital raising again. Any cash been raised by actual oil sales will have to be shared with the new owners High Power petroleum.A definate case of corporate mismanagement.