Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Tsbs - anybody who thinks the present situation regarding Block's trading level is all sunshine, unicorns and lollipops is plain bonkers. I have some reservations myself however on balance I think the risk to reward ratio is in favour of my being here as a LTH. As a follow on from that, I do not think my getting on here whinging 24/7 will do anything to my situation or the current SP. Please feel free to correct me if I am wrong and as usual DYOR.
I am not sure what exactly you are getting at to spell out clearly so you can understand.
MY VIEW IS THAT SOLO OIL WILL NOT MAKE A TAKE OVER BID ON BLOCK ENERGY.
quote "WOULD THEY ACTUALLY BE IN A SOUND FINANCIAL POSITION TO "BUY OUT" ANOTHER COMPANY.?"
So "YES" you have misread what I have written.
Bedex - we obviously disagree on the viewpoint here. I am invested in a company that is still in the "growth phase" which went through the IPO process and attracted attention from an early stage. The idea of drilling 5 or 6 wells either as work overs or new drills without any issues or problems is to say the least far fetched given Georgia's complex geology. There are a lot of works in progress at the minute and I am happy to wait it out. For whatever reason you think the SP should be sub 3p - I do not agree.
Hi Sea - yes it hadn't gone un-noticed that the "Knocking Crew" as I called them had obviously filled their boots with cheap shares gifted to them by nervous or impatient PI's and then sold off at the point of the spike which was pre-empted by the Update RNS's. Mind you my take on it is that this will be a distant memory once any good news crops up where resources turn to revenue/income, the market responds accordingly and the SP heads north.
Hi Sea - yes there have been successive "waves" of bashers attacking the share and driving down the SP with resulting negative sentiment and "cheap shares ahoy". From memory I started buying in here at the tail end of 2018 the halcyon days when I was paying around 3.2p. Bought more as the SP retraced from 14p and messed my average up. Like some other LTH's I misjudged just how far the SP would retract but hopefully these events will be history once Block have some of the "issues" addressed.
Hi Sea - I think you have summed it up very well. The pattern is clear to see - low volumes of sales, large buys now and again - no TR1 released - pros loading up with cheap shares ready to sell on the rise with any good news. Things seem to be primed and ready to go - there is obviously a head of pressure building up in here as people pop up to let off some steam and vent their anger at PH and the BOD..............it all adds to the mix.
Maladoni - I am with you in not looking to average down - I added some at just over 5p and that is my final top up. If I was looking to average down to a decent degree I would have to buy so many shares it would leave me w--a--a--y--y over exposed. As it stands I have a large holding here and will just sit it out - never been looking for a "quick buck" and just as well given the SP.
GLE and have a good day - now get out there and vote.
Just for some balance there are an estimated 821,000 millionaires resident in the UK . There are also 151 billionaires. The total number of homeless people in 2019 within the UK is estimated by the charity Shelter to be in excess of 320,000 - in 2009 the number of homeless people in the UK was just over 40,000.
Truthinbeer - just to clarify I never said that Solo/Scirocco would be buying a "Georgian start up" in fact I said quite the reverse. If you are bringing my name into a discussion maybe you could be accurate.
Well said Maladoni and I agree with your sentiments 100%. Not pleasant watching the SP sliding back but it is what it is and shouting "I want an RNS and I want it right now" is not going anywhere. The company will release news when it is good and ready and the market will respond accordingly. Patience and balls of steel are required..............GLA
Hi Zebbo - I see that they (Solo) view the acquisition of One-Dyas as being a cash generator" from day one but I am not sure how a £ 20 Million raise for a company with an Mcap of 15.3 million would impact on their ability to go shopping for a second company and the dilution affect on an SP of below 2 1/2p. Also, I thought the two holders with SOLO Oil connections were invested as individuals not as a part of a company.
Possible take over by Solo Oil/Scirocco Energy.?
Not 100% sure if/why this would happen. They have recently acquired a Dutch Gas production company One-Dyas for just over 30 M Euros. The purchase is being funded by 18 Million euros of debt and the rest through a raise. Solo Oil shares have been through stormy times trading in the range of 7.15p to 0.26p over the last few years - currently they have an SP of 2.425p
I am not that well versed in the area of mergers and acquisitions - would they actually be in a sound financial position to "buy out" another company.? Their current Mcap is 15.3 million. If they did could they return "Multiples" of the current Block share price as some on here believe.? Any ideas............
Doc's last podcast mentioned the current situation with Block Energy but it cut out after less than a minute so we did not get the full low-down. I tweeted Doc and asked him if there was any transcript that he could tweet as a summary. Here is his reply to my enquiry:
"No transcript and wasn't pre recorded -The gist is positive noise from the city and at this level there's probably 1p of downside Vs 5p upside +"
Make of this whatever you want. As usual DYOR and GLA long term holders.