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Taking a few points. The bill has been confirmed. PAT with Fasken will be gunning for compensation. Will take years to sort out even if it goes in our favour. Probably a load of unnecessary panic sells today as India doesn’t define PAT’s future. MB says all focused on Africa. This is the most important part of the RNS IMO:
“ Currently, certain PLAs, are preserved under Section 10A2(b) of the MMDR2015, however, we believe subject to legal advice, that under Clause 13 of the proposed MMDR2021 bill, any pending PLAs shall lapse on the date of commencement of the new MMDR2021 Act. Furthermore, under Clause 13, the holder of a reconnaissance permit or prospecting licence whose rights lapsed shall be reimbursed the expenditure incurred towards reconnaissance or prospecting operations in such manner as may be prescribed by the GoI. This expenditure on account of reimbursement may increase in case any foreign investor invokes Bilateral Investment Promotion and Protection Agreements executed between India and other countries.”
Basically if it ever does come to compensation which PAT hold a strong case for, we could receive the market value of the mine without actually having to mine it. Just a shame it has to go this route
Better expand about my last reply before I get the pitchforks thrown at me.
@rocklawn a simple 5mins spent on gov website about CGT for businesses actually provided with everything I did say about in my original response, the way in what OP had suggested didn’t make it clear if it was from a business post of view or a PI. All of what Dinen had stated I did already know tbh, since using an ISA account though it’s not necessary for me to look at anymore
Dusterisamong, you need to stop wasting your time, regardless what you say in your de ramps spouting absolutely inaccurate nonsense to try and lower the SP won’t make an ounce of difference. Fact is all of us here hold less then 1% of the total shares in circulation. If you were successful in making genuine holders sell for cheap it won’t change the SP at all, stop wasting your time and cluttering up a BB with false information
The 9p shares won’t be selling to the market? It’s how a large investor that wants a slice of the pie for long term has gotten in (and to fund the company without a Rights Issue) like already posted before by sp that they can buy another £20m shares at 78p to bring their average upto 23p (can’t remember the exact numbers but it’s thereabouts)
A point to note, which I do not know the answer to but someone else on this board will, is how is capital gains tax worked out. Is it based on where the companies headquarters reside. Or is it where the money is made such as where the oil is dug out the ground. Or where it is sold on? Therefore CGT in the country in question would be potentially what might have an impact
I don’t know who this broker is but to say this “ JEFFERIES RAISES TULLOW OIL PRICE TARGET TO 21 (13) PENCE - 'UNDERPERFORM'” is utter madness, how can you raise a target to a price we haven’t been at for over 4months when everything such as oil is likely to go up even further!
You can always split. It’s what I did personally, sold 50% of the shares at a 110% profit and so if the SP drops you can buy back in but if the share price goes up you carry on with profits. Then you’re happy if the SP goes up or if it goes down
Cheers for the advice all. I have considered switching brokers but for me right now my capital isn’t as much as I want it to be to counteract the fees so once it gets to that point I will then consider switching. I’m also still new to investing being only 8months into this journey and currently overall about 60% up from where I started so hopefully won’t be too much longer especially if this pulls through :)
That is a very informative post for all on the board, I am new and only started reasearching into this company on Thursday, could of bought in at 24p but instead bought at 30p on Friday morning, was wanting to buy 5x what I actually bought but the transactions wouldn’t go through all day, don’t know if it’s because that it’s Trading212 I use or if it was due to a shortage of shares.
@paradise look up GameStop and you will see how, just doubt anyone on here has enough money to buy all the shares and the short interest is far from comparable, there is nothing that we can do as private investors with this company reference other then the. IMO any itself performing well and you sitting on your hands rather then be tempted to sell when it rises
Upon comparing the two this sounds like they have completed the drill so giving us an update whilst they now analyse the samples, maybe they have actually hit oil and just don’t know the grade, maybe the shorters are just twisting the RNS to suit
In BPC RNS it was evidently clear that it was a duster as they explained they hit oil but not enough to be commercial, and stated it would be plugged permanently. On Tullow RNS it states it will be plugged and the data analysed. That wording to me sounds like it isn’t yet known if it is commercial or not