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Pleasing close,news has to be close,Nigeria still needs Exxon for deep water investments going forward, so surely enough pressure can be exerted on the vested interests of the state oil company to sign off the Seplat acquisition.
Hard to know Trek,not quiet sure how the Nigerian listed and London listed shares interact regarding settlement etc.
Anyway that's the largest buy I can remember here.Surely the Exxon deal has to complete this month,hopefully not to many extra 'Christmas Party Funds' being requested in return for signatures.
Great Post,Rio will be watching v closely, a successful Pitfield could well cost them $100m per year in their own Titanium operations, I would be v surprised if they will take that risk,much better to buy Pitfield for $200-500million ish and develop it to fit in with their existing operations.
2019 domestic prod 1,094 000T .Export prod 184,000T
2020 domestic prod 969,000T.Export prod 230,000T
We know this years production will be slightly lower, for the sake of argument, say around 15 000T per month Export,based on avg Export price of $160+ 2H 2021 , gross revenue fr Export coal H2 $15 million ish.
The numbers get very interesting with the current RB Export price $300-400+ per tonne
Only positive from 2day for longterm holders ,we got a cheaper price for the buyback shares purchased, UK fund managers selling Shell shares today when oil and Exxon are sharply up ,says all you need to know about the 'woke esg' madness in the city,as the West faces its biggest energy crunch since the 70's.
Reading back through BISI past annual reports domestic prices look to average 60-70% of Export price, but I would expect there to be a wider gap at present with the Richards Bay price so elevated.So think we'll probably have to wait till results to find out.
Maybe difficult to export more at present, as they've been problems with the rail network supplying the Richards Bay terminal ,as TGA have already reported.
AG,the free cash flow in the 2nd half of 2021 should have eliminated most of the debt,and strong free cashflow H1 22 should be building a good cash pile,add in UK Property worth nearly £1 per share ,then £1 per share plus for the coal assets still looks cheap at current coal prices even with short mine life.