Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Simple. Yep, I would totally agree with what you've stated, Chaffe looks like a youngish man who wouldn't want a black mark against his name.
I actually thought he presented his portion very well, much better than the previous incumbent (who's name escapes me, he was THAT impressive).
Hi Ron. Funny enough I see it as the pole opposite, particularly as the company is starting to generate positive funds. I think they will do their utmost to present a killer forward plan either at or prior to the next AGM.
That doesn't mean I think they should remain but as has been often said, that's more in CA's gift than ours.
High Dive, I completely concur and did say that Chaffe was much more focused and clear than Maris. Truthfully, I wanted to hate them both but by the end had been somewhat turned.
I thought both Maris and Chaffe spoke very well, Chaffe in particular was very clear as to our current position and vision looking forward. It did make me smile how he hurried past the $17m spent (and wasted) on the HUR review.
Very little in buys V sales today, I have to admit I was expecting a more positive reaction in our SP, perhaps people are waiting on the next two lifts and final confirmation of bonds being paid off.
I'm very happy to hold with current information and a bit excited to hear whatever the potential diversification may bring
I think we're currently in the black by around $27m, with the next lift due around the 20th May. Depends on oil price (of course) but we could have $69m by end of May............
I'm surprised we're so quiet here today, perhaps everyone's pent up for tomorrow?
Hi G. If you look at RNS' from April 19 onwards that will better answer your question.....Potted version 2x Warwick a no go, whereas the Lincoln Crestel was successful but for unknown reasons plugged and abandoned ???????????
From what I recall, Spirit fully funded the last program of 3x drills, any future drills would be 50:50 split on costs and HUR simply didn't have the funds for their side, now of course this situation is improving with us now moving into surplus money.
Hi Gloucester. I wonder if that's why there's an "up front" payment agreement with BP to forward plan further works with Spirit before June deadline?
Hi Gloucester. They've talked about 96% uptime (ish), so with 52 weeks per year would that equate to around 8 days?
I'm surprised this hasn't moved up more when you look at the buy/sale ratio
This is the way I’ve interpreted and calculated:
28th Feb $71m less $9.4m set aside for AK decommissioning (If required) = $61.6m
HUR state NET revenue of $60.5m from last lift (I would have called it GROSS as it’s less opex of around $28pb), therefore I think our NET would be $46m from that lift.
So, $61.6m + $46m = $107.6m, with $78.5 due to bondholders end of July = $29.1m currently FREE NET cash.
Another two lifts between now and end of July, we could be sitting on $100/$110m by then? Or around 50% of our current market cap.
Well put 0161. News regarding Spirit Energy's position would be welcome, future drills on Halifax or Lincoln in conjunction with them would mean the costs met 50:50, although of course any resources found are also split.
I notice that CA have notified their reduced holding in Equals group by 3%
I will be very embarrassed if I get this wrong, but as I understand it:
The tax offset is against start up capital expenses, and they can be recovered against future profits, which is why the company has to be trading to recover them.
Many moons ago when our SP was around the 50p area (and I don't think we were actually producing) someone said how can this be worth a 1 billion market cap (at that SP). At that time with all the anticipation and expectation I like many didn't take proper notice of that observation, and even with the disappointment of the Warwick drills and the collapsing oil price still had in my mind that the SP (which began to collapse)would quickly recover, but it didn't.
I now look at our current market cap at around £218m, oil price around $100 PB, production of around 9500 barrels per day and what BOE we're currently told we have in place in order to make a considered judgement of fair value.
To my mind I think we're just in the right ball park currently, but with other drivers due to come through, confirmation of the bond holders being paid off, and some future drill plans we will hopefully add some extra pennies to our SP. Traders hope to see volatility in a share price, but as a long term holder I prefer to see a longer but sustained SP growth. It would be nice to see some evidence of proper leadership from our board of directors, I am expecting something significant announced before June.
Hi Sense. I'm perfectly happy with your thoughts of the current HUR situation, however I don't think the Guardian editor understands what is truly meant by "Mutually Assured Obliteration", maybe he/she's into Russian roulette, I'm not.
Mr Zelenskiy and his people have shown great resilience and courage other the past weeks and have clearly learnt from Putin's attacks in 2014. They fully deserve western support with weapon systems and humanitarian aid, I'm sure we all wish the Ukrainians better times. Part of Zelenskiy's job is to make foreign powers feel uncomfortable in order to gain maximum support, but I don't think he truly expects western powers to directly enter this conflict (yet).
The various sanctions against Russia are not going to fully effect Putin's plans or economy overnight, or even (probably) over several months, Putin has planned carefully for this, he is a veteran with literally a world of experience knowing how to turn the screw. However, it will have come as a very unpleasant surprise to Putin that Nato and Europe have/are working so closely together to bring arms and munitions to Ukraine, and the Ukrainians have been able to use those so effectively against Russian forces on the battlefield. Putin cannot afford to lose face over this mistake because otherwise he is finished and all that power (and possibly his life)will cease, but how to escape this situation and claim some form of victory is a massive conundrum to him and his cronies.
Sorry to ramble, just my thoughts.
If Russia attacks or invades a Nato country ( I don't believe he will), then there will be no choice and WW3 will begin, but it will be the last war and the human race may not survive.
You'll need your binoculars out around the 14th May