Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
People need to stop banging on about why aren't production numbers out. Copl have NEVER released official production numbers other than through WOGCC..... and they are due by the end of month following, so probably Monday would be my guess.
I know everyone is desperate to see they have gone up, but as soon as they are out there will be 100's of posts asking were the Sept number are ... grrrrr
It amazes me that people sell right before major news that could change the fortunes here significantly .... are these people that just don't know what's going on or do they need beer money for the weekend?
Desperate last attempt to drag everyone into the pit with them
Rall ... nonsense we dont follow Canada ... lucky of they do £5000 of trades per day, the volume is LSE
A bit of early FOMO ....
We are on the cusp of greatness .... the next 3 months could see the worm finally turn.
RAMP fully intended
....home ?
Bond holders are making money, even down at these levels ... yes they lose on the conversion but they make money because of the interest payment in shares based on VWAP.
They would make a lot more money if the SP was a lot higher, but the minor holders aren't interested in waiting around they are happy making 20-30% now.
Fortunately there are very few minor holders left now
Can't remember exactly but they had said that they were restricting something like 300-600bopd because of the pressure safety issues; so I'm expecting that to come in straight away, not have to wait another 6 months while they slowly turn the taps up
1. Confirmation of equity completion - target was end of Sep
2. August Production from WOGCC - possible Monday
3. Confirmation of gas injection restart - they said they were starting this in Sept but the fund raise RNS says they need the funds to pay for the injection ??
Expect 1 and 3 to come out in the monthly Ops update or as usual all get rolled into 1 fluffy unclear RNS
No reason to believe that monthly prod figures will not be on time ... they have been as early as the 20th or as late as the 2nd .... I'd go for Monday afternoon.
Would be nice to get an RNS confirming the equity funding this Friday or we will be awash with trolls on Monday claiming Anavio have backed out as the deadline was end of Sept :(
A couple of 500k trades isn't going to move this. No doubt JBER still have some bond shares in their pocket ... usually see later on if a mill or so sell comes up.
No point watching this until Aug prod and the confirmation of equity funding comes out this week. We then should get an ops update end of first week of October, hopefully with new injection plans
Uund : by my calculation there are 127 bonds outstanding and 164 bond 'make whole' interest payments outstanding.
Why do you thing there are 37 bonds that haven't taken shares in lieu of interest ... I don't see that from looking through the RNS's, maybe 2 or 3 for the 2027 ones unaccounted for?
Uund how on earth have you come up with the bond interest payment being $37million ??? almost half of the total bonds have already converted and that interest paid in substituted shares, which is why we are at 900milli shares from 230mill
Shaa your not AM are you .... conveniently making 3000bopd into $9mill when its only 8mill @ 85% LOL.
Remember they only get 85% of the revenue from BFU - and that's where the GGS is.
They have stated they are aiming to get back to 60k per month by Q4 this year .... Im really hoping we see that production increase start from the August figures but we are all so used to them overpromising and under delivering it will be quite a shock when this turns around :)
I think you need to check your maths shaa.
2000 per day, say 60,000 per month at $90 is 5.4million revenue.
You might have your decimal place wrong on your EXTRA $9million per month
The Common Shares are being purchased at a price of 4p per share by Anavio Capital Partners LLP or an entity or entities associated by it (the "Purchaser").
Thats standard wording ... its a massive stretch to assume its not directly Anavio buying them, nice try though LOL
.... and if is'nt at 3.5% there would have to be a TR1 straight away, so what would be the point in hiding the name of the "entity" now
I dont think you have that right Stas - the RNS says "The Company will appoint one additional independent non-executive director to be nominated by the Purchaser by no later than November 1, 2023."
PURCHASER - thats anavio as in purchaser of the equity. Remember they are entitled to 1 board member for every 15% of equity they have a confirmed interest in. this raise surely takes them over 30% now
Dont forget the equity raise in the last RNS is due to complete end of this month also so we should get an RNS confirming that at least
Sifted through the last 6 months RNS's.
Left 2027 - 62 bonds over 4 BH's
Left 2028 - 65 bonds over 3 BH's
Interest settlements:
The last big conversion was 18 bonds on 30 Jun. My calcs say that all 2028 bonds converted have also had interest payment shares issued. 2027 there seem to be some interest payments still to come ... based on current vwap maybe 10 - 15mill more shares.
What i have deduced tho is looks like the minor bondholders probably seem to only hold 1 or 2 bonds each ... so very little left to convert now.
3 months to realise they should be targeting chinese miners that make ip 75 % of the market ...idiots !!