Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As you know I have been here a while and am not a ramper in any shape or form, but there are positives in the RNS. The latest development wells are proving very successful. 350bopd from 1 drill is a 30% increase on total production. Whilst that will reduce with time if they can add another 250-300 bopd for every 30 day drill that is good news. I actually sent an E-mail to Bafield on Saturday morning with a series of questions regarding production, why they are behind target and would they be looking to raise money from the market. Some of these have been answered in the RNS but if they do achieve the 8000 bopd next year as they originally targeted then it gives the company a very solid foundation. My main concern now is how they will raise the finance. That unknown will hold us back in my view.
The other concern is that they talk of alternative methods of raising finance in the short term. We need to know what that is before this will really recover. The original plan was for production to largely finance exploration and development costs, but they are currently not producing the quants they had hoped to at this stage.
40P really??
just goes to show that nothing is ever certain. Better production figures are a slight positive but they are still down on their targets. No idea where the sp will go today we are already at an all time low.
the answer to your question is "most of the ones I buy".
it was a raid to stock up for next week. Clutching at straws though. There still seems to be downward pressure.
Buy orders, not seen them and wouldn't know where to find them. Were they any good? Kicking myself for topping up today because the daily macd chart still negative, but I ignored it.
Give us a bit of warning next time then. Ta
its a final shake, but something doesn't seem quite right. We are at an all time low.
Zatcha. When BEH listed last year they placed 109m shares on AIM, the remainder being held by Directors etc. However within the AIM listing doc it stats that the directors shares cannot be traded until 12 months after listing. 18th July 2012, unless under special licence. However I would think that this does not apply to the additional shares they purchased on the market at the back end of last year and I dont see those being sold at a loss/negligble profit.
Must be a seller I guess. Once they are gone, we will hopefully see progress. Hope Blackrock arn't selling any.
Thats good news. I didn't know that you had further info. My timescales were purely based on last drill and the fact we were drilling a bit deeper. Lets hope its next week. All the best.
If anyone is interested, link attached to the T&T monthly progress report which I use for checking up on RRL usually. However it does show the info for Bayfield as well, production figures, ft drilled etc. Its always a month behind and this one is up to end March, so this drill not shown as spudding yet. (RRL = ptrin (FO)). Bought another 10k this morning. 2 weeks till TD in my viiew. http://www.energy.gov.tt/data_and_publications.php?mid=114
that was a bit of a shock to the system.
anything like these trades on here before. Not happy. See them all the time on the likes of BLVN. SLE etc. Chart went negative here 2 days ago as well. Closed all my CFD's but kept the shares. I will wait for the macd histo to head positive before I think of increasing again, but must say this is a lot lower than I would have thought possible. May be just the very bad day for small cap .oilers. Its down the same as others, with news in the next 3 weeks should bounce quickly.
not so sure now that it was a buy. Priced in now anyway. Onwards and upwards.
it was the buy they wanted to fill. Well done them. Very familiar pattern.
next week. not expecting results for 2 weeks yet. People just need to decide if they want to get in under 60p now or wait a week and pay 65-70. made my choice a long time ago.we know how fast this can move when it wants to.
Thanks very much for sharing.
NM