Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I look forward to you reinvesting in TLW as there is something reassuring about you being invested here.
I have enjoyed following your posts as I find them very informative and well researched.
You posted not so long ago :
"I'm 25 and have been trading for a couple years. The problem with being young is that you don't have capital for investing without a career."
If you really are 25 years old, then kudos to you for your in-depth knowledge of the company at such a young age. Also your maturity in your responses to some very aggressive posters is second to none. Bravo
I have had a chance to have a look at the circular re the proposed sale to Total.
One rather alarming paragraph in the letter from the Dorothy Thompson states:
''In the circumstances described above and where the Board is unable to obtain such additional sources of
liquidity, the Group might have to enter into insolvency proceedings and counterparties to material contracts
might seek to exercise termination rights under those contracts. The ability of the Group to continue trading
would depend upon the Group being able to negotiate a refinancing proposal with its creditors as described
above and, if necessary, that proposal being approved by Shareholders. Whilst the Board would seek to
negotiate such a refinancing proposal with its creditors, there is no certainty that the creditors would engage
with the Board in those circumstances. There would therefore be a significant risk of the Group entering into
insolvency proceedings, which the Directors consider would likely result in limited or no value being returned
to Shareholders.
In the context of the current prospects of the Group, it is important that all Shareholders vote in favour of the
Resolution so that the Transaction may proceed.''
One message I take away from this is that as we are in desperate need to shore up our finances. A not-so-good deal completed now rather than a hypothetical better deal in the future surely has to be better for the company going forward, allowing it to focus on its remaining excellent assets and further exploration.
For that reason I vote in favour of the deal.
There are many well informed posters on this board who excel at number crunching - leaving me even more confused I have to say!
I would like to take a straw poll of opinions if I may. YES or NO. I just want to gauge the 'deal or no deal' temperature on this board.
I say YES for the sale to proceed.
There will no doubt be a second, third, fourth wave...... We will just have to learn to live with it and accept the consequences. Most of the deaths that have occurred are in individuals with other underlying conditions. Obesity, smoking, lack of exercise, diet amongst other causative factors have also been linked to the deaths. Maybe this is a wake up call for people to start looking after themselves. Listening to LBC this morning, it was mentioned that there is a 0.06% chance of standing next to someone who is carrying the virus in a public place (or a 99.94% chance of NOT standing next to an infected individual). The government is under pressure to relax the 2m distancing rule to 1m to help businesses like bars and restaurants start up again. The studies have shown that this will increase the rate of transmission by 100%. However in reality the scientists are saying this goes from just over 1% to just over 2%. As mentioned earlier, we will just have to adapt.
There is no way any government will allow any further mass lockdowns. It is too damaging for the economies and people’s psyches. Localised isolations is the way forward. Oil demand WILL only go in one direction as economies start to open. Contact tracing and localised lockdowns all the way is the only way forward!