Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As someone has already pointed out, in May you said you bought £16,000 worth at 9p and would wait on results.
There are no posts from you and forming people that you had sold.
You brag about a free carry, but in reality there is no such thing. People just use that phrase to cover their ****s in case the share price drops so they can pretend they broke even which they might have done but they still missed the opportunity to make an even bigger profit.
In your last post you say you bought "loads" at 0.3p. If you did you must have had perfect timing because with the spread the ask was never 0.3.
With all of your badly written posts you have exposed yourself as the big fraud that you are and most experienced posters on here I know this to be a fact.
You are obviously just envious of everybody who really did buy in at a rock-bottom price on Thursday and who have made some serious money while you just watch on the side lines.
Sorry for venting fellow posters, but after a few well deserved whiskies I could not help myself.
GS
Multiple posts from robizm1001..
At 7.32 about the £20m Morses might have to raise (share price was 0.46).
Warnings about "be careful" posted at 10.09 when the share price was 0.95p
Its been up a penny since then (another 100%) when it hit 1.9p at 11.26.
Thanks for all the Warnings robizm1001.
"we are all being careful with our 280% profit" lol
Just spoke to an agent (a Morses agent, not a secret agent :-)
They said every November Morses usually get £6m from investors to help with loans over the busy Christmas period. In 2022 they did not get this so have had to slightly reduce lending. Demand for loans has been very high because of the cost of living crisis. Most of the loans they refused were to repeat customers so that greatly reduces the chance of a claim . Morses are now only lending to people who meet their "improved" vetting process and strict criteria.
So in summary they are very busy and are still lending to lots of customers with future claim opportunities greatly reduced!
Happy days £££££
There are 134m shares in issue. At 0.75p mid price Morses is currently valued at £1m.
It was woth £77 MILLION last Jan at 58p a share.
Yesterday's close was 0.47 so today's actual opening price of 0.3 means it was down 36%.
Actually up 38% now at 0.58p.
Spread shown as zero percent (yes, zero!)
45% spread!
Moving up, but only slightly
I am getting the grey background I usually get when a share is in auction it is still showing as 0.3p but nothing is moving On My Level 2 system which is unusual as all other stocks are behaving normally.
Mid close was 0.47p.
My trading system currently shows this at 0.3p.
Market opens in 15 seconds...
Today's RNS shows all of the directors combined only own half of one percent of the company which is shocking.
So far they have the backing of 50% of shareholders so they need another 25% before this can actually happen. They are making the usual threat that if it doesn't happen they will have to go into liquidation.
To be honest I would rather lose the small amount I have invested in the company and see them go into liquidation than be able to get away with this when all of the overpaid directors will get to keep their fat cat salaries and their big car allowances.
I liked what papaduke said a few posts down:-
"..when drilling commenced last year they intended to plug and abandon the well".
But now they have found GAS, Shell want to press on with a full test drill and are willing to spend more money on doing this.
I remember asking the question why they would plug and abandon it. An informative poster explained it was common practise to P&A this type of well".
So obviously they will not be abandoning this IF the figures are good which the initial findings suggest might be the case!!
A high free float of 80.8%.
I wonder at what stage institutional investors would like to get involved based on today's news.
Hopefully soon.
Hargreaves Lansdown is shown as an 8.7% holder with Interactive Investor at 8%.
Surely this is because of nominee accounts which private investors use on the HL and ii share platforms?
When you go to the Deltic website select "Investor Relations" then "Presentations".
Then choose the 12/12/22 PDP
Page 12 gives some various valuations for the share price at different gas prices
62p highest. 9p lowest.
The lowest valuation of 9p is obviously three times the current share price.
I'm always mindful of the 3 day falling knife rule, but this will be a good buying opportunity.
Was 226p in the dredded month of March 2020.
Was 177p Sep 2022.
Was 312p this time last year
So the current price of 176p does seem attractive being 43% lower than this time last year.
Stockopedia gives DLG an overall score of 90.
Apparently Argo were (are?) paying $0.06 per kWh which is 3 x what they originally stated.
This means Argo's electricity cost of mining 1 BTC is $12.4k.
With Bitcoin currently only worth $16,6k there's very little profit mining them after all of the other costs are taken into consideration.
https://cryptoslate.com/unpredictable-electricity-cost-could-have-led-argo-to-bankruptcy/
"78% of people who completed a survey said they expect bitcoin to half within the next 12-months".
As soon as it hits 13,000 it will cost Argo more in electricity to produce a bitcoin than they can actually sell it for.
2023 will be the year for profitable, cash-rich companies who actually sell something and actually make money. Anyone else will just fall by the wayside...
Apparently Argo were (are) paying $0.06 per kWh which is 3 x what they originally stated.
Argo's electricity cost of mining 1 BTC is $12.4k.
With Bitcoin currently only worth $16,6k there's very little profit mining them after all of the other costs are taken into consideration.
..and electricity costs up at least 54% have been a double whammy
https://cryptoslate.com/unpredictable-electricity-cost-could-have-led-argo-to-bankruptcy/
Key stats from Stockopedia (usually a reliable source)
£20m cash.
No Debt (-£10m).
£72m sales.
£77m Market Cap.
Okay, they are set to make a loss of £13.8m in 2022, but £20m cash in bank and zero debt.
Did they say why they halted production a few months ago? Is manufacturing still down?
50% spread. Market size is 10,000 so could take a £600 bet??
My maths are fine.
£109m TTM Debt less £34m repaid is £75m Debt outstanding ($90m).