Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Having established their (supposed) intellectual ‘credibility’ over a period with positive posts…now we’re getting close to eps thumbs-up, word on the street is that a certain ‘fool’, now does what he was always paid for and there to do…keep the sp as low as poss for a B loomin’ P artner. There isn’t a prob with watercut, and Lanc testing is progressing fine.
I predict 3 things for first half of 2020: firstly, at CMD Lanfax will be proved up, water will be proved not to be an issue (as it IS perched), and a partner will be found for Lanfax; secondly, the bod will achieve the necessary requirements to receive their bonus awards, close to the AGM; and on the back of this the SP will be in the 65-70p range. The OGA I hear, want rapid progress with Lanfax, so CMD is, I believe, going to be a very interesting presentation indeed. Can’t wait!
Just back from my latest offshore trip..can’t offer any insight into hur..just huge optimism for the project overall. Of my 2 big investments, sxx is clearly high-risk/reward and this one imo is low-risk, despite all the recent SP shenanigans. Great team at hur and like I say, I have every confidence in the outcome and a vpos 2020, once eps news out and fb in ukcs is a proven runner. Good luck all & have a great w/end – I’m behind with stuff and need to get all my xmas shoppin/family pressies done asap..or i'm in big trouble! :-)?
This is how it opens in the article- sorry would type more but starting my shift in a few mins and just saw this article 10 mins ago and thought it would be of interest:
“UK general election
Labour plan for windfall tax on oil industry draws union outcry.
Critics fear move will prompt companies to quit North Sea operations.”
https://www.ft.com/content/1092dfcc-0bb4-11ea-b2d6-9bf4d1957a67
Ha yes, you’re probably right mate, we’d had a few bevvies by the time this conversation started! The gist of it was it’s much, much higher at the tees end than originally expected…and I’ve probably wrongly taken that on board as being at wilton …typical of me, to get half the story right!
Cheers for that LB – yes that diagram does show a slight rise to the tees end – from what I gathered tho’, project engineers have now realised it’s going to be much nearer the surface at the wilton end...which is apparently, vgood news. ATB mate.
I only look at the bb here once in a blue moon, as I just let my investment here ride and again, I only glance at the sp now and again, altho’ like all other pi’s I am looking forward & hoping for a positive rns sometime in the near future from the bod. Anyway, I just give that comment, as I am probably stating something on here that everyone else (but me!) was already totally aware of...it’s just I heard this off a mate of mine who works on the project and in my ignorance, I hadn’t realised it till he told me a few days ago. I’d thought/assumed that the 2 shafts at the whitby and wilton ends of the tunnel were the same re the technical challenges they presented – what I hadn’t realised is that the shaft/tunnel at the Whitby end is real deep and technically difficult, but that the tunnel steadily rises along its length and at the wilton end is close to the surface. I won’t go into all the consequences of this as like I said I’m prob posting ‘old news’ to you all...suffice to say, among the workers, there is a lot of confidence this is going to be sorted and Sirius is going to survive and flourish – and I’m sure we all want that.
I’ve just had a very friendly and constructive chat with a senior bod at Sirius, who has advised that the company are cracking on with their strategic review process, approaching and assessing multiple potential partners, and that they will advise the market as things progress (I did check he was happy with me putting a brief line about our conversation on the bb and he was). I found the call very reassuring indeed tbh. I know loads of young, nascent companies such as Sirius hit these kind of funding/technical challenges before they achieve an income stream and personally, I’m confident this will be resolved, perhaps a lot sooner than many on here realise. Consequently, I’ve just had another top-up!
Chesh - no NE. Other than one single line all my more detailed posts about it have been blocked, so no discussion on the bb is being allowed
Very interesting and positive comment made on Sunday politics half an hour ago about Sirius and funding – made by a NE Conservative MP.
Sirius is likely to get the funding in several tranches now, rather than the 2.5Bn all in one go – first chunk will get the complex and challenging initial part of the project completed and then they will go back to market with the risk mostly off and raise the remaining bulk of the funding. I also think there’s a strong possibility that the govt may be more receptive to backing a much smaller initial sum – no doubt they will be discussing this in the coming weeks. I think the 6mths timescale includes all stages of the fund-raising and I also think it will be successful, as this is such an important development, both politically and economically. Difficult times at the moment for lth’s – but I’ve been through the same with my other investments – and as long as the fundamentals are sound they eventually come good. My guess for the SP is back to 9-12p with initial funding sorted and then back into the 20’s at the end of the 6mths, when the rest of the project funding is in place.
Rev - one of my mates just mentioned over scran that I had the same 55p guess as another bb member..that's not the case, I said 53.22, so i'd be grateful if you can amend. sorry I didn't pick this up earlier but I can't contribute to the bb discussion so I only have the odd glance at it during the week. cheers
Hi reverandy,
Pse put me down for 53.22 - Macmillan Cancer research
Cheers
Not my area of expertise either, but our DOF was offshore recently and a few of us had a long and interesting chat with him and he explained how a few things work, including in simplistic terms how some key milestones may not give the sp response that you might expect, esp with aim shares. Ultimately it came over as a positive though as it reflects faith in a company from big players, who simply want to hedge their risk a little. Because we're getting close to the end game here and potential success with the EPS, my understanding is that you can expect an upward trend in the sp but any huge surge with individual milestones being delivered is not likely to happen until eps details out. But you may be right, and I could have got hold of the wrong end of the stick..wouldn't be the first time on financial stuff :-)
"The basic role of market makers in the options exchanges is to ensure that the markets run smoothly by enabling traders to buy and sell options even if there are no public orders to match the required trade. They do this by maintaining large and diverse portfolios of a wide range of different options contracts.
For example, if a trader wanted to buy specific options contracts but there was no-one else at that time selling those contracts, then a market maker would sell the options from their own portfolio, or reserve, to facilitate the transaction. Likewise, if a trader wanted to sell specific contracts but there was no public buyer, then a market maker could execute the transaction by buying those contracts and adding them to their portfolio.
Market makers basically make sure that there is both depth and liquidity in the options exchanges. In their absence, there would be significantly less transactions carried out and it would be much harder to buy and sell options. There would also be less options in the way of different contracts available in the market.
Enabling traders to execute transactions quickly, even if there is no willing buyer or seller, in turn ensures that the exchanges operate efficiently and traders can usually buy and sell the options they wish to."
AD, really? so they don't take big premiums for call options then?
ken- there were 10M late buys on 19th I think it was and at least 2.5M after hours buys every day since including today. imo MMs loading up for a big buyer with options on hur. yeah its annoying that the effect of all this is that sp is stagnant but positive news all the same as somebody wants in bigtime once milestones achieved. i've heard a few whispers recently about hur assets and just wish I had more available dosh..but I'm maxxed out already here. a very exciting 2019 comin up tho im sure.
tbh I’m not really concerned about the flat sp, as I reckon the majors and other interested parties who are monitoring hur closely are prob the reason why the sp response to yesterday’s hook-up is pretty muted. I suspect at this stage of operations, they’re happier slowly stake-building through third party options at an agreed strike price – where they aren’t contractually obliged to buy unless targets/milestones are achieved to their satisfaction – and mms are usually well happy with these kind of big calls because they can charge a chunky premium for this service. yes, it’s a bit frustrating for us pi’s, but nonetheless as hur continues to successfully move forward, then the sp trend will continue onwards and upwards until the point where assets are proved up and buy-out/partnership et al is on the table - and then the real sp fun will start -all just imo of course
Post of the day! So insightful...everyone's 'lost the plot', except for you and ifonly1.
LOL