Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Dunno about @155p, but raised rates in USA and (presumably) in UK, must surely put a bottom in assuming have finished selling their client's 575m shares they were instructed to sell at a minimum of @147.5p
Once that sell off is out of the way and the memory of management's latest costly blunder has faded, we might get back to regaining ground it managed to lose since the end of Jan.
"Jogoat "may our low cost oil flow merrily merrily merrily into our new FSO and profits flow with equal enriching measure."
And how is that working out for you 1 year on? Did you wake up yet and realise that Q1 never actually had a year stipulated?
I'll pop back in another year to see the same old boring Bluerill and Alaric attempts to justify the unjustifiable"
Two years on now.
I don't really need to say anything more, do I.
Is it 'nice' to have it confirmed your expected cash has been delayed indefinitely? Not that it is any surprise to those of us who have watched the pattern of operations here over the years.
Meanwhile production goes on and SLE is taking losses on every barrel ...
Here's another update ... from 18 months ago, Jan 30 2020
The ELI Akaso is expected to arrive shortly into Bonny port. Energy Link Infrastructure (Malta) Limited ("ELI", the third-party provider of ACOES) has informed Eroton, the operator of OML 18, that the following activity is expected.
- All government and regulatory approvals for project construction have been received;
- February 2020: site mobilisation;
- March 2020: installation and completion of the Cawthorne 2 & 3 pig launcher and receiver platforms; and
- May 2020: completion of pipe laying, and commissioning of ACOES.
Oisin Fanning, Chief Executive Officer, commented:
"The operation of ACOES is expected to be a major catalyst for the success of OML 18. We have long described the challenges to pipeline losses and downtime on the existing NCTL pipeline and ACOES is expected to reduce both significantly."
The Chester plant wont be finished until end of 2021. There are likely to be teething troubles before any smooth running.
Don't expect anyone to commit to building anywhere else until this concept has been proved. Would you sink a minimum of £20m into a project that has never been shown to work before and has a minimum 2 year payback?
More worrying is that not one site has yet even started asking for preliminary planning permission. How long will that take? 1-5 years in the UK? Then year to build and put in place infrastructure and agreements. That's the time period you're looking at before the stock takes off again on anything but hype.
No change, just underlining the fact the O.F. share purchase of , what was it? 20% of the company? was a strange, semi-official, fantasy.
Oisin Fanning 9,495,864 2.11%
Funds managed by Toscafund Asset Management LLP 328,362,373 72.98%
Midwestern Oil & Gas Company Limited 59,299,608 13.18 %
Anyone taken by surprise by this cash raise hasn't done their homework on the stock. From the prospectus onwards it had always intended to raise more cash... and that is always going to hold down the price.
The only big question here for me is why the price keeps pulling away so far. Perhaps the answer is there is a lot less yield about than there was 18 months ago and GSF is offering a whopper and easily covered if management stay on top of things and don't get carried away.
For those who haven't read the prospectus and subsequent cash raising literature, the last NAV was 99.6p and the promise is that once the NAV is 100p+ the MINIMUM 7pps divi will start to rise.
If you're wanting to add to a holding in your ISA or SIPP, it can't be done directly via Primary Bid.
I think they're secure enough, but its a definite reversal for private investors that they are managing to push out brokers from offering IPOs and placings. Be sure to leave a negative feedback when you download!
Bluerill, "Sector crushing performance"?? Enough said.
Poor old Alaric - still trotting out the same old arguments that there is a long term value case here. What is it now, 4 or 5 years? The value has more than halved in that time and when the free cash flow IS paid out, the stock price drops by the same amount. In case you hadn't noticed. That would suggest fair value right here. Or are you still arguing the 'market is broken'?
Then there is the straight forward lie about my holdings. The irony is, if he or anyone else wants to log on to BARC plus every single trade of mine is posted live. Which is more than we can say for him and his claque.
The pointless $2m buyback ended almost exactly a year ago. For those who can count to two, that means the next bi-annual 'return of cash to shareholders' is overdue, no matter what these two clowns say.
And I didn't even mention Barryroe. Not least because its never going to happen - as I've said all along.
Jogoat "may our low cost oil flow merrily merrily merrily into our new FSO and profits flow with equal enriching measure."
And how is that working out for you 1 year on? Did you wake up yet and realise that Q1 never actually had a year stipulated?
I'll pop back in another year to see the same old boring Bluerill and Alaric attempts to justify the unjustifiable.
Maybe SLE will have figured out how to make a profit from production from a world class asset by then.
Maybe O.F. will have sorted out his share purchase by then ... How embarrassing and credibility destroying was that debacle? Why would anyone believe a word the man says? Even in an RNS ffs.
By the way the 'bi-annual' payment to shareholders is late again, has anyone else noticed?
I'm 7 tranches in on this REIT with a holding average of just under @80p.
I do believe it comes good with 5.5pps divi in 12-15 months time when 100% of properties are completed and rented and probably a rise between then and now also (about 60% of portfolio completed now if you sww RNS today).
I don't see any reason why its share price doesn't return to above @90p where it was pre-Covid.
The main reason I popped in here was because another poster told me, some months ago now on ii, that there were all kinds of allegations of financial misconduct alleged on here against PRSR's directors. If so, they're not posted on this board, clearly! Did you come across anything?
I would suggest their announced intention to move to the premium market is not the act of directors with something to hide, as they will be open to even more scrutiny.
I'm not sure why the price is still so low (but still that horrible spread). Yes, some slow down in completions and an overly cautious reduced divi, but ... Family rental homes ... bad economy = unemployment = housing benefit = rent paid. I reckon the market has priced in far more risk than there actually is here.
Good luck!
bluerill, "You get slapped around in what should have been a learning opportunity for you"
What a strange person you are. Why do you attempt to 'troll' EVERYTHING I post. Then accuse me of 'trolling'. "Slapped about"? You wouldn't know a flame war if you fell over it. Do I have to start pointing out all your mistakes too? Go on, list all those restrictions on buybacks you got wrong again and give us all a laugh. Sad little boy.
Alaric, I just picked out the first post in which you were going on about long term value. But there are many, many others, including on SLE, where you got it completely wrong. In fact, come to think about it, I haven't seen one where you got a prediction right yet.
"Will never fall below @40p again" was one that springs immediately to mind from the last year alone.
So, If you're going to start insulting adults, don't expect them to respond like for like. I'll just keep highlighting to your claque just how wrong you have repeatedly been, most recently advising me to sell under @25p, by the way. What is your defence on that one?
19. Dec. 90,415 -27.65p £25,250 $1,418,506
20. Dec. 89,928 -27.80p £25,250 $1,?451,331?
23. Dec. 89,285 -28.00p £25,250 $1,483,904
24. Dec. 89,573 -27.91p £25,250 $1,?516,477 Approx 75% complete
27. Dec. 89,349 -27.98p £25,250 $1,549,302
30. Dec. 89,928 -27.80p £25,250 $1,582,380
31. Dec. 89,285 @28.00p £25,250 $1,615,710 Approx 80% complete
Total number of Ordinary Shares in issue with voting rights now ??451,123,801
*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.
Alaric, " share price is significantly undervalued because of past poor performance by management and the resulting skepticism in the market about delivery on anything, even an iron-clad contract with a sovereign government, as well as the parlous state that AIM and all small-cap resource stock markets around the world find themselves in, and NOT concern about future drilling programs or any other such issues. Delivering in the short term on the basics will move this share (as I believe it is doing today in fact) significantly, and everyone reading this needs to always be careful to remember that.’"
Sound familiar? This was posted about VOG in Jan 2015 when the share price was around @60p. Share price today? @6.7p
Alaric, " the context was that we don't want you clogging up this board with irrelevant, longwinded and boring stuff, at a time when san leon has finally got itself into a really interesting place. that's all."
If you had a longer attention span and were less pompous in talking for the whole public board, you might stop making the same blunders.I realise you're just trying to distract attention from your dismal failures, of course. It took 30 seconds to find the above, I can remember several more that I can check in seconds if you really want to start posting about what is relevant, long-winded and boring.
Date ++ Shares ++ Price ++ Total. Running Total*
03. Dec. 91,911 -27.20p £25,250 $1,018,796 Over 50% complete
04. Dec. 90,025 -27.77p £25,250 $?1,051,874
05. Dec. 90,909 -27.50p £25,250 $?1,084,952
06. Dec. 89,831 -27.83p £25,250 $1,118,030
09. Dec. 87,412 -28.60p £25,250 $?1,151,360?
10. Dec. 87,108 -28.70p £25,250 $1,?184,690
11. Dec. 88,028 -28.40p £25,250 $1,218,020 60% Completed
12. Dec. 87,719 @28.50p £25,250 $1,251,602
13. Dec. 87,196 -28.67p £25,250 $?1,285,437?
16. Dec. 88,683 @28.19p £25,250 $1,?319,272?
17. Dec. 89,285 @28.00p £25,250 $1,352,350
18. Dec. 88,967 @28.10p £25,250 $1,385,427 Approx 70% complete
Higher Fx rates may mean buyback completes as early as W/E 10th Jan (previously estimated W/E Jan 17th)
Total number of Ordinary Shares in issue with voting rights now ??451?,751,564
*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.
Date ++ Shares ++ Price ++ Total. Running Total*
03. Dec. 91,911 -27.20p £25,250 $1,018,796 Over 50% complete
04. Dec. 90,025 -27.77p £25,250 $?1,051,874
05. Dec. 90,909 -27.50p £25,250 $?1,084,952
06. Dec. 89,831 -27.83p £25,250 $1,118,030
09. Dec. 87,412 -28.60p £25,250 $?1,151,360?
10. Dec. 87,108 -28.70p £25,250 $1,?184,690
?11. Dec. 88,028 -28.40p £25,250 $1,218,020 60% Completed
Total number of Ordinary Shares in issue with voting rights now ?452,?193,414
*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.
Alaric, "Eadwig essentially describes himself as a short term investor"
No I don't. My current interest in SLE is based on a short term trade. That may encompass the whole of your horizon but not mine. I don't describe myself as a short term investor. Someone else here incorrectly described me as a day trader previously, which I am not.
Bumble B "Eadwig, the £100k per 20 kW system is supported by the WH Ireland broker note Nickel Investor started copying onto this site yesterday"
Ah! Well I am here looking for that after your post on ii alerted me to it. So many different threads its hard to pick things out . The search continues