Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yeah I think the market wants to be convinced that there can be a return for shareholders. They have failed miserably over the last 14 months. Next week will tell us sure enough whether they are still in it for themselves or not. Big divi, big buyback and some involvement in transition would do it.
The Carbon Capture thing makes more sense for them in India anyway and is a long term project. What matters is news on Cambay which is soon hopefully. The sell offs could be a couple of guys talking it down whilst selling their holdings only to buy back at about 0.06p wasn't it?
What Is a Short Squeeze?
A short squeeze is an unusual condition that triggers rapidly rising prices in a stock or other tradable security. It occurs when a security has a significant amount of short sellers, meaning lots of investors are betting on its price falling. The short squeeze begins when the price jumps higher unexpectedly and gains momentum as a significant measure of the short sellers decide to cut losses and exit their positions.
I feel a bit more confident about this now; larger than normal buybacks, big dividend looming, a cap on the levy being negotiated as we speak, the shorters will have to consider exiting soon won't they?
They know this, role on 13th April!
'Short sellers aren't entitled to dividend payments from the shares they've borrowed. In fact, the value of any dividends paid will be deducted from short-seller's account on the pay date and delivered to the stock's owner.'
https://www.google.com/finance/quote/SQZ:LON?hl=en&comparison=LON%3AHBR%2CLON%3ABP
One of the reasons I think the shorters have increased their position slightly is because they might know something we don't. Having been through the SQZ thing and seen how their board totally stitched up existing shareholders, it wouldn't surprise me if HBR announce some sort of merge or acquisition. Linda though would not ignore some sort of shareholder return in the deal. The shorters might be reckoning on a complete shafting like what happened with SQZ. I have faith in Linda to do the right thing for shareholders.
https://www.ft.com/content/913db0ed-ccb6-4cde-8d39-f1f78b1240f5
Headline:
UK government expected to offer energy companies windfall tax relief
Lower fuel prices spur hopes the levy will be reformed as sector is being encouraged to invest in new projects
A few snippets:
"Britain’s oil and gas companies are next week expected to be offered the prospect of windfall tax relief, as prime minister Rishi Sunak looks to boost investment and improve the country’s energy security."
"Ministers have been discussing with the sector a promise that the 35 per cent windfall levy on profits would cease to apply if energy prices fell below a specified “normal” long-term level."
"People briefed on discussions between industry and the Treasury said Hunt was looking at a price floor so that the levy would not apply if energy prices fell below a certain level."