Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Haha. I received my notice of meeting and information circular but all I can see is that they are pushing for the 100-1 consolidation but are keeping the language that the effective date would be a future date determined by the board.
Part of the Canadian anger is that the stock is still trading and re-testing its low of $0.005 daily. We were touching 4x that at the the beginning of the rollercoaster. There seems to be little interest in paying over 0.52p. Imagine that was happening over here....
The thing with the Reddit army is that fundamentals don’t matter when they want to make something happen. It’s strength in overwhelming numbers and they literally stomp over anything in their way. Look at GameStop, AMC, Hertz, etc. Good friends for retail longs that have. You get enough momentum behind a name and they’ll push it to the moon. It may not stay there, but that’s none of anyone’s concern
My concern is that Canada is trading at 0.58 and has been floating down from there. I don’t care that the CSE doesn’t have the retail buyers and attention. The market is still the market and that’s where we are. A double would put it at 1.08p. If there’s certainty of a sustained increase on UK re list, I’d expect more people taking positions for a guaranteed rise
Oil companies no longer garner a 20x PE. Most don’t even have PE’s right now but that will change with the recent spike in WTI and Brent. I’d say 5-8x is more reasonable. I look at MEG in Canada who is a low(ish) cost producer with 1.7 billion PROVED reserves with CNOOC investment and a track record with over 2B in annual revenue. Their market cap - $2B CAD. Apples to oranges, sure but I’d be interested to see more companies in line with your expectations
Consolidation is fine of the company wants to be taken seriously. Find a respectable company with 16B+ outstanding shares. Problem is they have been re-capitalizing and shafting current holders along the way. But human psychology leads people to trust the ridiculous opinions of pumpers and short term traders who tell people what they want to hear.