Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Phil. A new board should have been appointed a long time ago really by the larger shareholders here, this one may well get us over the line yet I suppose but it should have happened years ago with a dynamic and hungry board. The obvious thing the board are doing now (micro development of Darwin) should have been marketed years ago.
I would have been more impressed if they set aside their salaries like the guys at BPC did a while back, at least they all would have had a daily personal challenge to get this thing over the line. Our investments wouldn't have been diluted either. Right now it feels like they get into the office after a lie in, dog walk and cooked breakfast at around 11 then pop the kettle on straight away. Do a few hours work and get home for 4.30. Rinse and repeat.
2024 is the year though- one way or the other.
Calgary doesn't want to go to 10% for whatever reason, and nobody else heavyweight is coming in or out. A strange nothingness about this stock now, I used to like January when there was always action- that's died as well......
For me personally 2024 is the year, either way and personally they need to get this thing over the line or the board MUST go.
Can't work out what game is playing out here, the buy orders on the bid NEVER get filled and neither do the sell orders. In between nothing else is happening either, seems like nobody is that bothered about buying or selling.
Some obvious BS trading going on here with the "Big Squeeze" continuing- but for how much longer? One player working the book both sides, when the named broker's sell orders are taken out, then we know we are on the move but right now its just a game.
Little example of how these MM's take advantage of the price here, rather than buy a few shares on quote much cheaper I thought I would do it on the exchange instead - just 5000 shares to move the price of this stock. This is what they do all day every day move the price up and down on the exchange with fixed buy and sell orders (working the book both sides). It's actually quite easy to manipulate things (if you have the time) perhaps a career change for me soon.....
Page- Mcap is down to the board 100% and nobody else. They know full well, clock is ticking and patience is not never ending. A challenge for their removal could come at any time, they need to get this over the line or pass the baton to somebody else. They have 12 months max to be either working at Bor or Boots.
Hi Phil. RKH is a different kettle of bells, they need a lot more cash than us and if the article is true (which i suspect isn't 100%) then short sighted of course, Darwin is absolutely self funding, apart from the initial small CAPEX and I am absolutely sure the project will commence and soon. We can do this on our own through the markets and with bonds, and with some help from our suppliers. Let's wait and see, I think all will be surprised!
Someone bought those 4 million odd shares and on a normal zombie day like we have been having, this would have took us down to 1.5p. The stock has been stuck down here for filling orders, looks like it's done hence the close at 2.5p. They will take it wherever they want to in order to fill orders, there really is ferk all down here so its time to see what's above......
Oil peaking at 2030 is not fact based and is more likely to peak in 2040 apparently, also there is a serious lack of infrastructure and investment for green energy. For the rest of this century fossil fuels are urgently needed, and fossil fuels will always be needed for some industries. The demand will never go away near term and the big boys are still searching for more which is questionable if demand is really projected to fall off a cliff. The good thing for us is when they stop looking they will start using -with discoveries such as Darwin being utilised. A few bumpy stock transfers today, somebody is happy to take on the cheap and they closed this on 2.5p. So I presume the washing machine has been put on extra spin moving us back through the top 2's- to golden 3's (I am not getting excited by the way). Seen this s*it over too many years, only difference is we have some big holders here who bought in well above 2p and are happy to stick and possibly add.
Well said Phil, big boys are here including Calgary buying at multiples of this price so for that reason at least, I hold. As you said they aren't stupid and they are here for a reason. For me, I have thrown it all in here 100% and I think you would be shocked at what this average pi actually holds. If it's all lost, hey ho- bit of a bummer but i know this will come good and soon. All good things come to those who wait........ Patience will be rewarded
Buchan Redevelopment is a conventional oil development located in shallow water in the UK and is operated by Neo Energy Group. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Buchan Redevelopment was discovered in 2006, lies in block 21/1a ALL and 20/5a ALL, with water depth of around 405 feet.
The project is currently in feed stage and is expected to start commercial production in 2026. Final investment decision (FID) of the project will be approved in 2024. The development cost is expected to be $900 m. The Buchan Redevelopment conventional oil development will involve the drilling of approximately nine wells and includes FPSO.
Interesting to see that the board have spent around £260 million getting to where we are, full capex for the production is around £500 million. On that basis I would expect a favourable farmout with a retention of 40% (if indeed it is a farmout). Could easily be a bonds offering and other supplier finance as previously posted.
Yep, I agree they need to hurry. Patience has to be getting very thin with all major shareholders. The last RNS was different though and perhaps we are really this time, nearly there. We will find out soon, as I posted before I think this will be concluded one way or another by mid 2024 or the board will be out. The board still forget I think that they work for us and need to communicate more/ and better.
640million USD capex to get the entire project pumping, project payback 2 years at 60 usd and out 18 months at current range. Finance/investors.farm in/bonds/ have to be agreed soon, like printing your own money........... Loads of cash in the world with rubbish returns, major investors should be queuing outside our HQ on a daily basis? I just have this nagging feeling we are going alone on this with a mix of bonds, guarantees, supplier finance and so on......