Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
So where is the floor other than zero, 1.5p or 1p? There seems very little to stop this falling at the moment, which looks quite ominous.
If anyone is crazy enough to be thinking of topping up/averaging down, wait a little while, as you'll be able to get in cheaper soon!
3CB- yed thats why I say they likely have less than 12 months, its there in the notes. Without a major inflow of cash, they are basically f&@ked.
Simply put, unless something major happens within the next few months, they will run out of cash to operate within 12 months.
Even Malcy would require far more than just another free jolly to Cameroon, in order to put a positive spin on the current dire situation lol.
Mr.Sparrow- apologies, I take that back I just noticed the 27th July one. That was when Kelly announced being pleased with the resilience the Cameroon business had shown, and how he was targeting 'the low hanging fruit.'
Apologies
Mr.Sparrow- six months have past since the decision to update shareholders on a quarterly basis, so have 2 updates failed to materialise?
If Kelly does find his way to Cameroon, he will literally have to get down on his hands and knees and plead with Eneo to give us some money, and let us supply them with very cheap gas. If anyone from Eneo had bothered to read our 6 month report this morning, they will know they have Kelly over a barrel. The survival of Vog may be in the hands of Eneo paying us and again supplying them gas, but ask yourself, if they were that desperate for our gas, surely they would had coughed up a few quid by now?
RF68- I would say this is going exactly same way as TC and Deb, the only real difference is vog will go bust without ever making a profit or providing any shareholder value over the years.
BTW do you still rate this loss making company which is soon due to run out of money, a strong buy?
3CB- Roy looks to of gone into hiding, its all gone very quiet on the strategic review, it did not even get a mention. I believe Roy is here for when this is no longer a going concern and us shareholders are no more, thats when he will start working.
RF68- I doubt the market will share your positive stance, is it still a strong buy in your opinion?
Nothing positive at all in there, they're simply going to run out of money by the spring, what a mess.
I found it odd we did not hear from Roy Kelly, is he hiding in his bunker, still working on his strategic review.
We can at least be sure of one thing, the SP will be continuing its current trend, down!
Mr.Sparrow, as you seem to be the only one thus far who has posted receiving 'solid and helpful' replies from the company, do you feel they are looking to perhaps turn a corner?
If anyone else had received a reply this morning, it certainly hasn't prompted them to fill their boots with cheap shares as yet, strangely enough.
Is tomorrow the last day for them to publish the delayed interims, or have I just made that up?
Perhaps the didn't like our line questioning, why we small shareholders have been continually royally shafted??
Nope, I looked on the website this morning to see if I could find them, they've hidden them very well if they have been published......
and we're yet to receive any further bad news yet, does not look good!
Delayed interims, lack of buying so obviously no leaks of good news coming, yup this could be heading the same way as MTL. My bet is we will see sales of Vog at sub 2p.
I do hope to be wrong, but the company rarely fails to disappoint.
3CB- Yes you echo my own sentiments in regard to the delayed interims, this generally is a negative sign in most cases. Yes 7 months is more than enough time, not only to come up with a strategic plan, but to actually start implementing it.
The simple fact is the previous poor excuse for management put most of their eggs in the eneo basket, instead proactively trying to get more customers on board. If it's so difficult to actually sign up new paying customers, in order to run the operation so it produces a profit at the end of the year, maybe they simply do not have a viable commercial business. Even if we get part or all of the monies owed from eneo, it may provide a temporary small spike in the SP to maybe 5-7p, but it won't materially change a great deal, apart from providing maybe extra year or so before the money again runs out. Unless there is a signed guaranteed deal on the table, no business will provide further funding to this outfit, period!
Either YF Finance were conned into investing £13.5m 18 odd months ago, as the whole business is now only worth about £6m, or they are playing the long game when us small shareholders will no longer be part of the equation. It seems a little odd to me that a private finance firm would invest that amount of money in a company with declining revenues. Did they put Mickey Mouse on a retainer to undertake the due diligence and risk analysis for them, as there were already issues with eneo paying on time?
I feel only a best case scenario will be enough to turn this around, and LTH's who have averages below 20p may be able to recoup a portion of their massive current percentage losses.
Unfortunately hope is all we have now, as we know from bitter experience here, that we are proper f*&ked based on expectation.
Best of luck all, I feel we're going to need it!
Would anyone like to share what they are expecting, rather than hoping for?
It's not beyond reason that we may get a bit of additional information regarding Eneo with the delayed interims, which have to be published no later than 31st October.
Cheers HS, the two you mention could be good if you got in at much lower levels, but currently look a little expensive for me. Next all 3 are estimated to make similar ball park net profits, yet Wen is valued at £32m, TXP £168 and JSE £243m. Add in a 7% dividend, thats a safe and boring stock that I would not mind adding to the portfolio.
I know one thing, if I had invested the funds I used to buy Vog in safe and boring, the value of my investment would not had decreased 80% after averaging down! ;-)
I ask as (im not yet invested btw) they have a somewhat similar story to Vog based in East Africa selling gas. That is where the similarities end though, as they are profit making, have a healthy amount of cash and pay a nice dividend. Saying that their shareprice has also fallen about two thirds over the past six years, and they are making healthy profits.
Anyway, sorry for the slightly off topic, but was wondering whether any of you have an interest in Wen.