Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Another betaville post today on SMDS; it’s behind a paywall, but presumably related to takeover speculation.
The questions I think I would have, which we will likely find out over the coming weeks are:
- are JPM buying as principal or on behalf of clients?
- did Bybrook or JPM sell down materially at the start of the week?
- any new evidence of stake building?
- will we get any info on SOA / FCA in the near term?
GLA. DYOR & clearly not investment advice!
It is always going to be volatile; but Amigo has
- Bybrook and JPM taking stakes
- recent Director buying activity
- recent results and mgmt guidance / updates
In the absence of further news, nothing has really changed here so I feel comfortable.
Bloomberg reporting Mondi interest in a takeover
Ft link?
Just looking through their last RNS’s; when Sky News reported the potential disposal re II on the Sunday in Jan (much smaller), they RNS’ed the next morning before market open so no comment this time is just strange
I would have at least expected either ‘no reason for price movement’ or response to press spec RNS given recent volatility in the share price ....
Betaville have released a new article on Okyo
For what it’s worth, my view is
- heavy short term volatility, divorced from fundamentals (better than expected Ghana performance than kitchen sinking of production forecasts, 60 per cent hedge etc, available liquidity) but driven by next 3 months oil price
- more asset sales and/or full sale likely to happen
- I didn’t sell in last week’s volatility - as I take a longer term view
Focusing on Ghana, Total is acquiring c. 27 percent of Jubilee and 14 percent of TEN for 2.5bn USD (Oxy / Andarko)...
TLW has a 35.5 percent stake in Jubilee and 47 percent stake in TEN.... and is operator on both.
The is significant value not being reflected. Simply can’t argue with TLW being seriously undervalued at these levels - especially given 2/3 of 2020 production is hedged.