Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
there has been no approval of the mine or the power station proposed (laugh) by GCM. Primarily due to the fact GCM have yet to submit a proposal to the gov of Bang which was due in 2019 i believe. Bang does need power and several other power stations have been approved. The closest thing GCM's power station has been mentioned is it appearing on a government power presentation with a date of 2021 on it. If this had been approved the price would be much higher.
Where is the evidence that the PM has changed her mind? Where is the approval for the mine? Where is the approval for the power station?
I await you evidence with baited breath.
Fusion98
Lol...they’re just got into an alliance with big money corporations!
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and what have they provided as part of leverage? Before you say a mine and power station, where is the approval for either?
The PM of bang has said no to GCM publicly and she has 3 years left to run, GCM doesn't have 3 years money left to run as a company, their piggy bank POLO is delisted and Tang has decimated both companies.
If i saw a house i liked, got a builder to provide quotes for renovation (MOU), hired a private finance guy to get me a mortgage (NFC) and i told my backers it was in the bag they would be happy. Everyone seems to have ignored the fact the house i liked is not for sale... this is GCM.
There are several other coal power stations approved in the country yet none have started building as far as i am aware, why is that do you think?
GCM is broke and Tang thinks that by getting ready for approval will grant approval... it won't.
Seen this all before
Fusion98
With polo de-listed there is little to prevent him from liquidating assets and keeping the proceeds for himself to offset losses in purchasing these companies from Dattles. The cash will probably go to prop up GCM which has been hemorrhaging money for years. The PM of Bang has clearly stated GCM will never be approved and she has 3 years left, GCM doesnt have enough cash to last 3 years. As for the MOU today, its just that "a memorandum" and means sweet FA.
No investment has been made, no money changed hands.
If GCM does ever get the green light to produce a mine then the finance package will drown out all PI's leaving them with 5% of their current holdings or less, if you don't believe me check out how finance worked for GKP or SXX.
Filtered
this ain't facebook or therapy
Grantmclean1984 - i understand completely where your coming from, the tech stocks are in a bubble and like it or not it will crash. The stock market as a whole is propped up by the same money as the housing market and debt both sides of the pond. All governments have done since 2000 is print money to feed the rise only now we have debts higher than GDP, this can go on for some time more but it shouldn't. Sooner or later a politician will have the balls to say "let it crash" as the alternative is Zimbabwe style inflation, what a choice. At this point all three bubbles will implode and take everything with it. The problem was exacerbated in 2008 and has been on steroids ever since.
There will be a recession in 2021 but only a small one, until governments start paying back debt rather than racking up more or heaven forbid live within their means, this merry go round will continue until its too late.
Thatcher was the only one to do this and everyone hated her for it.
Fusion98
Bought £10k with a 5 year time scale. Should have bought earlier but life got in the way.
Yes shell has debt, is restructuring, has a deflated share price and is still doing buy backs despite owing far too much money but the fundamental thought strikes through for me. Oil is needed the world over for at least another 10 years and only a handful of companies do this well, Shell being one of them.
The price will recover over time
Fusion98
R00st3R, your information is wrong.
its cheaper to build and run a renewable power plant than one using carbon based fuel- FACT! Coal plants are all subsidised the world over and produce a s**t load of mercury in the process not to mention the waste material and pollution.
The rest of your post i agree with, the market knows this as an oil company / trader / producer and so have no method of working out if its new direction is viable. It would be like McDonalds saying they no longer sell food (in the loosest possible terms of the word food) only to be starting a chart topping record making career using the staff.
I think BP will be a smaller, leaner company for some time and a lot of people are going to get redundant / sacked and a lot of oil prospects like Rock Hoppers Falklands deal are going to get canned.
BP will come out of this stronger, they have some smart people working for them, look at their drills for catching one oil pocket to another - the advert used a bendy straw, but the idea was technically brilliant and it worked.
Buy this stock, it may go below £2, it will be back above £3 by the end of 2021, anyone complaining about time scales - you in a rush or something?
Tesla is a bubble and will crash along with a lot of other "tech stocks" that have no money to backup their valuations.
Fusion98
The share price is at a 25 year low and next week results are going to show the worst collapse since Sarah Palin said she should take control of foreign policy because she could see Russia from her kitchen window in Alaska. (world collapsed on the floor laughing)
Oil is still going to be used on toothpaste, tyres, manufacturing, machines and all sorts of other things its use is not going away just reduced CO2 by offsetting. It will take 15 years from 2030 for majority of cars to be electric on UK roads and as for the rest of the world.... who knows.
The FTSE will be punished due to Brexit, low oil costs, Covid, over supply and many other things, least of all the biggest consumer which is China has just bought all of Irans oil for it private use so no longer needs OPEC's oil so the price WILL fall further.
OIL WILL RECOVER and so will this share price, unless it follows Shell and economically has to write off 40% of purchased oil fields - i guess we will find out next week.
Buy and hold
Fusion98
When the orange clown was asked if he was joking about the wall Mexico was going to pay for, he replied "i don't joke".
Now he says drink bleach and all of a sudden we are supposed to think he's Groucho Marx?
He wasn't joking, he just says the first thing that comes into his head and idiots or "Americans" as the rest of the world calls them believed him, 2 of them even drank pool cleaner because he said it was safe.... they both died.
Trump said "Drain the swamp".... Donald, you are the swamp!
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Joking about injecting disinfectant and internal UV treatment and playing it so we all thought he was serious. Comedy Genius.
fleccy
telecome stocks are not flying as almost all telecom companies are up to their eyeballs in debt and now 5G licenses are being auctioned off. Like previous auctions if your a telecoms company without a 5G license.... your fecked. I remember when Orange paid an eye watering amount for 3G. 4G licenses cost a fortune too and remember each country has its own auction so this goes from expensive to F***! very rapidly for costs.
all UK stocks are low due to no dividend which is probably another reason why USA stocks are so bubble like, pension companies have to put their money somewhere.
Fusion98
when the election in the USA, Covid the world over and Brexit in the UK are all over
I find it amazing that Barclays rate their own shares to be worth £14.25, more than the company is worth by some way, lol
HI Gary, last post on the subject.
Ask yourself with low oil prices, high production rates, no storage, covid impact and low GDP the world over... how long do you think it will take to reduce oil storage to 50% (normal rate) without OPEC raising production on a suicide rate once more. My guess is 3 to 4 years, do you want your money tied up for that long? The stock market doesn't follow the economy and some people have forgotten and think this is the low of the recession. Buckle up a***holes it hasn't even started.
Anyone who asks "Surely at these prices its a safe bet?" those were the very words from RBS investors in 2008 - from £12 to £0.25 in what 3 months was it? I would rather miss the very bottom than jump in with both feet for the floor to crumble beneath me locking me in for a year while better investments become available during that time.
In November the market will rise 5% due to the election (always does) but how long will it last, FTSE (brexit) will impact international markets, Covid plan from Biden/Trump will be known.
I say wait 3 to 4 weeks on the side lines and watch what happens. If you didn't have any BP investments i would say go for it, but you do so stop trying to catch a falling knife. If your still determined to invest in both BP and Shell (both great companies) then my advice is to drip it in over time rather than one purchase.
Its your money, its your choice, good luck
Fusion98
Gary59
personally i would hold off buying anything. (1) the usa election is in november and the results will have a large effect on the DOW especially is Biden locks the USA down to control Covid19 something trump has failed to do. (2) Brexit will slash the FTSE100 on jan 1st as a no deal is almost certain to occur. (3) The tech stocks on the Nasdaq are in a huge bubble which will pop before the year is out, this too will effect ALL markets (4) The effects of Covid and huge unprecedented numbers of unemployed will soon have a dramatic effect on the housing markets both in the UK and USA. The recession that should have occurred in 2008-2011 will probably occur in 2021/2022 as debt now outstrips GDP in most European countries including the UK which means tax rises, the USA is a debt mountain in denial. Oil storage is maxed out and consumption is only about 30% higher than the covid peak with little signs that this is going to change before xmas.
Cash is king at the moment so £30k is a large wedge to use when the fan gets covered in the brown sticky stuff.
Fusion98