Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Looks like we’ll be taken out by Bybrook on the cheap… at least Majid has put an early marker down by stating company is worth at least 20p. Not sure I’d be happy with 20p though
Capex necessary to maintain production levels though so I’d say correct to include it as a cost like that, personally.
Appreciate that Tony but still 80-13 = 67 and not 57!
Very first line says, 80 - 13 = 57!!??
One of them big +300% days on the TSX would be nice!
Once distributed, some bcn shareholders may dump in to the market as they are perceived to be ‘free shares’.
Hopefully clears the path towards progress of Zinnwald - gangfeng will own less than 10% rather than the proposed 35% before
Friend who is a barrister was talking about a case where the judge got “pinged” and whole case had to be dismissed and restarted at a later date with a new jury etc etc
Guess the $11 figure accounts for the oil / gas mix in production
$11.05 boe break even according to latest presentation - but as Tony alluded to break even can be highly subjective as to what that figure includes or not
Baytex announced results from two Clearwater drills yesterday - 400 & 700 bopd respectively. Bodes well...
Dividend is based on fcf and not noi
Though yet unclear whether fcf at operational level or corporate level? Could make a big difference this year with all of the corporate activity and costs.
Dividend may end up being much less than anticipated!
Income from latest acquisition starts from 1st April though - not long to wait until we find out the actual dividend amount
You are completely underestimating how difficult it would be for I3e to navigate the Loan note holders and borrow $40m.
Even if they were able to get permission from note holders and then find a bank to lend $40m in subordinated debt to a junior oiler then can you imagine how high the interest rate charges would be? 15-20% plus a large upfront fee I’d imagine.
Then, what happens if oil drops back in to the 30s? I3e would possibly go the way of many Canadian oilers before it and be cash flow insolvent. Best to stay debt free and highly operationally mobile. Debt can come at a later date for me.
But eps and dps (Dividend per share)
The debate is getting a bit repetitive tbh.
Yes, it’s annoying after we rose up to 16p to be bought back to sub 11p by eps and dps will both be higher post deal - Short term pain for long term gain.
Well never know about whether access to debt was there or not but I suspect would have been tricky with loan notes outstanding.
Let’s move forward now!
No point blaming mgmt as Bybrook are calling the shots on these issues; as the largest note holder & share holder.
That’s 50% to I3e if I remember correctly?
Same here 10.1p
Pretty much the price I was waiting for but may dip further in to the 9s
Suspect Malcolm was buying shares at 5p and therefore not able to promote through his media accounts?