Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
My loss if this goes south would be less than a plane ticket to the Congo and a taxi drive to look at the colour of their boots and hands....a damn sure less stressful way to find out I’m sure.
Feels like there was a ‘you hold this for week before releasing’ conversation. The money is big. Maybe they plan to pay us back with our own shares.......lol
Presumably someone from the local govt is on site? I guess DS and co cannot text home due to market rules. But if the local guy did and some Swiss pension fund wanted to coincidentally buy in while the paperwork was sorted then is that breaking the rules? Will be interesting if we find out who is buying.
Does anyone know the order of things? Could this be feasible?
Will there be one? How many shares today?
WTF is going on. I don’t know whether to be excited or scared. Are we having our pockets picked in public or or we witnessing insider trading in the open? Anyone seen this before? What was outcome? Will these big buys all ditch on a ten percent increase?
Heeeeeelp. Roulette is less painful.
Saw the 1 trade as well.
Question - could these be shorts closing or being taken?
I’m under the impression if I short something then ii will make an opposite move?
Thoughts. I’m hoping you all come back and nope - them thar are good ole fashioned buys!!! No ways it anythin but a buy.
Don’t know why I have gone all Yankee. Excitement maybe.
I phoned and emailed McBrides asking for clarification about whether the rumour is true or not. Will post here if I hear anything. I will call again tomorrow if I have not heard by mid morning.
I think a lot of the future is going to be tied into how management stick to their plan. If they have truly hit the top end of theirs estimates and that coverts into commercial success then we can expect a seriously high yield against current SP. so, if it paid even 4p divi that would imply a 25% yield with is crazy. It would surely rerate to a £ just to settle the divi yield at a more appropriate figure of 4%. Wouldn’t it??
Here you go. Page 22
https://www.proactiveinvestors.com/upload/SponsorFile/File/2018_09/1536675112_8-Jun-18-AAOG-Djeno-Unchained.pdf
It’s in out there and depends really on production rate. I think from memory it’s 75% paid out at the highest flow rates. They have already laid down the rules. It’s also based on minimum oil price of $30 from memory. Sorry at soft play with kids so cannot dig into the detail right now. But the answer is a shareholder friendly one.
Just trawling through a document from Finncap from June last year. In it they reference the 10m not being paid by the locals. I guess this squeezed cashflow - they had none coming in? We have the very real prospect of cash coming in very soon. I wanted to focus on page 4...
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Growth should be internally funded
For financial modelling purposes, we have considered two scenarios; a base case assuming the development of just the R1/R2 and Mengo horizons, and a success case which also incorporates the development of the Djeno sands. These point to a potential production range of 2,000-8,000 bpd for these cases respectively. With the majority of surface facilities already in place at Tilapia and low development/operating costs, this potential growth should be able to be funded from internal cash flows.
Dividend commitment
Success then with either the Mengo or Djeno sands would be expected to result in meaningful earnings and cash generation, and open up the prospect of a significant dividend stream; management has committed to distributing between 50-75% of net profits after necessary capex.
While Tilapia remains the main focus of management, over and above this it is pursuing other opportunities and has signed the exclusive right to negotiate to acquire two producing fields in a new jurisdiction. It is now completing the due diligence process on these assets.
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Key things here for me...internally funded growth WITHOUT Djeno, dividends, exclusive rights on two producing fields.
I don't think I have missed 2 new fields in the news anywhere but am happy to be corrected.
I don�t think the trackers are optional. I think it�s an international requirement for vessels over a certain size. If the updates are behind it will be the website. If Saipem has moved that�s exciting. That�s a very definite move that we can all interpret.
Better and better it maybe but it’s blooming tense!! People have said it’s like Christmas Eve. That’s fair but here there is a 71% chance that it was a bad Santa who drank the whisky and dumped on the carpet. I suppose we either way it’s a Jolly man with a beard who holds the key....hang on...has anyone seen LB and Santa in the same room ever??? J