Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I don't think Simon had the time to do anything other than accept the Lombard offer, greedy as it was. He sure couldn't have organised a crowd fund with the shareholders in such a short time.
Uruguay looks particularly interesting in view of the amount of proven oil reserves and when that starts up, surely the share price will reflect the enormous amount of revenue that will be forthcoming. I am hoping Simon can sort out a JV - anything really - and get it started as soon as possible as that looks like a money spinner to me.
This is not a dead parrot, imho.
Starchild, like your posts.
What a lot of people on this board seem to forget is - if BPC had not diversified and had just stuck to P1, then, in all probability, this company would be no more and there wouldn't be a chat board for people to moan on.
Mind you, they might have gone all the way to TD in an 'all or nothing' endeavour but had to retain some money to facilitate their other ventures. It was unfortunate that the drill snagged, but you can't blame Simon for that. At least we still have potential for a rosy future thanks to the boards' planning, although I hope the bloke who arranged that shockingly bad finance deal has been shown the door. I can understand why so many people are suspicious about what really went on there.
Calamari, further to Starchild's response to your post, remember, a company called Petrolatina went under and the MD blamed the plethora of negative posts on the chat board for the demise.
Now, maybe they were going down anyway. At least here, BPC have options to progress but negative posts can and do influence the price and Starchild is right, imo, to point out price manipulation by duplicitous third parties.
We live in hope of good news to be forthcoming which could put an end to some of the shenanigans going on here.
Looks like Harry's gone and hopefully, soon, it will be 'Goodnight, Irene'
Harry, you refer to depth of Cuban oil drilling.
What I don't understand is this -
Simon, years ago now, related to us, at a presentation in London, that he had shown his considerable data to Russians, drilling off the Cuban coast, and told them they were drilling too high. The Russians, on seeing the data, abandoned their attempt.
So, Simon knew the potential oil is at deep levels and I therefore don't understand why he packed up P1 before going deeper. If Simon reckons the oil is there, but deeper, he must also have known the share price would collapse (and destroy LTHs investments) when he stopped the drill before reaching TD.
What is he playing at? I have no idea.
Hi, Pageofcups.
You say BPC value of what they hold - especially data - is $500m +.
With about 5 billion shares, this would value share price at about 7p.
Are you sure your estimates are right?
Here's Hoping - I think Irene's problem is that they are what psychiatrists call 'an*lly retentive'.
Petty, peevish, dull, grey social misfits. The only way they can feel good is to make somebody else feel bad.
apologies, Irene, but I do not converse with posters who are an*lly retentive.
I, too, appreciate your well reasoned posts and I notice you get significantly more recommends than those who counter your views. There are a few others who also make a compelling case that all is not lost.
I have a question for you, or anyone else who can proffer a view. What is your take on the monies due to Lombard because of the guarantee? Is there enough information available to reassure you this isn't going to be a problem?
icemax, thanks for the illumination of my ignorance of how the share price is achieved by all these algorithms.
I am now astonished at how inaccurate LSE stats are.
according to the LSE stats, over 3 million shares extra were bought v sold.
£20,000 extra bought v sold.
I find it astonishing that the share price drops 8%. This smacks of manipulation? Who would be doing this and, more importantly, why?
Zebra, it is true that there have been drills in the Bahamas and commercial oil has not yet been found.
In Saudi, in the thirties, there were multiple drills and multiple failures, but with the data they accumulated and the fact that they were, interestingly, drilling ever deeper, they P1ersevered and eventually found the biggest fields in the world at that time.
yakee, my point is - Simon isn't hiding, as some have suggested, he gave an interview and he states there are plans to move ahead with other projects. We were all aware P1 could be less than we were hoping for, but Simon clearly thinks this isn't over and he knows more about what is going on than you or me. I choose to accept at face value what Simon is saying - that the company is not knackered, as you quaintly put it, although I understand you think differently and that is your perogative of course.
At least Simon gave an interview and he clearly thinks the company is diverse, viable and the future's orange for BPC.
More buys than sells today and the price is down a lot. Makes no sense.
Cerp, that is how I view it. .75p is the most anyone with a stop loss would have got. MMs love them.
I assume all those still in didn't have a stop loss, as the mms hoovered all of them up on Monday.
still in - no shares sold. Hoping Simon can engineer something worthwhile.
Harry, of course you are not bailing, else you would have done so today. There is no logic in saying - I'll do it in the morning. That's like saying - I'll give up drinking tomorrow.
Deep down, in spite of your rhetoric, I think you want to believe this is not over and the situation will improve. I will have to continue to read your nonsense for many a moon.
Actually, some of your nonsense is very funny and I do have a chuckle at your ripe choice of words.
willibobs, Simon has to appear upbeat, he isn't going to set out the worst scenario. He is going to spin the weasel's pee found as a wonderful opportunity.
can anyone explain this guaranteed price offered to Lombard for the loans?
Where are we going to get the money to pay for this? Or is there something in the small print I have overlooked?
petroleum invest -
Laallee, and everyone else who had a stop loss, would not have got 1.99, as the market opened this morning at .75. That is the best anyone with a stop loss would have got.