Member Info for johnpwh

Oil up, HUR down! The delights of being a long term shareholder :)

Interesting post Willowman.
I have been concerned with the proposed new partner/ loss of control/ loss of assets for what I consider to be inadequate compensation etc but I felt reasonably happy with Cyprus. Doesn't seem an expensive acquisition, copper is likely to maintain or increase its importance as an industrial metal and I naively see copper and gold prospecting to be similar for a geologist of Dr S' abilities. Obviously the scale of mining and processing of copper deposits is hugely greater, due to the relative price differences of the metals, but overall I thought it a good move to diversify and develop the company. And of course geographically it is far enough outside the RR/ Salinbas regions so that it would not necessarily be absorbed into the new JV that I am so opposed to.
I will go away and find out about Harry Adams, the name means nothing to me.
A further concern is our 'key man' dependency, think all would agree with me there.

I think lindasanoline has made reasonable points. I don't want to discourage new contributor.
I find this LSE board quieter, but more informative than the ADFYN board, as the posters there seem to just be interested in buoying up the company prospects with few contrary views heard. People may not agree with others views but alternative views are helpful to question ones own logic.

I think there will be some short term euphoria when the deal is confirmed, moneys received and special dividend announced. I personally believe the SP is then likely to plateau for some time or even drift down because we will have very significantly reduced income from RR. I accept that the deal will accelerate Salinbas, but it will still be years (5+) from loan free production as indeed will Cyprus, so other than regular drill results (hopefully good, but which never excites the market other than temporarily) there will not really be any drivers. All imo. And I am usually wrong.
However one driver could be if regular dividends are established, but I'm not holding my breath on that one. Think this is one for the bottom drawer and leave the grandkids!
Happy New Year!

Cadell
Ditto. I may be mistaken (I frequently am) but I think it was missdosh who recommended iweb to me in the early part of this year. I transferred out from my fraught relationship with Barclays (twitch twitch) and found them great. The only downside I have been able to see is that there is no dealing 'on credit' irrespective of the size of portfolio held and if you do become dissatisfied there is a fairly hefty charge to move to another provider.
John

Not your day young daltry!
Happy new year and all that b*llocks to one and all

Just confirmed I think by RNS
Happy new year everyone

Whether oil is falling out of favour with short sighted pc investors at present is immaterial. No matter what Carney says in his infinite wisdom oil isn't going to cease being used for decades - I have read that predicted peak oil consumption has not been reached yet. Yield on BP shares is about 6.5% I believe, which ain't bad compared to the Nationwide. Even Greta may be thinking about putting her pocket money into oil shares. I suggest this is a Warren Buffet moment, buy when everyone else is selling.

Agreed Ash

No problem Willowman.
If the reporting of Dr.S' words are to be believed accurate it would imply that the proposed deal is really a done deal (bar the S/H vote which appears a formality given posts here and on the other board).

Don't think so DJ, think it is likely to be a bed and breakfast deal, somehow circumventing bid/offer spread, selling from one type of account (ISA or SIPP or general investment account) and buying the same amount immediately into another. From the prices of various transactions it is seems that LSEs sell/buy column is at best a bit of a work of fiction! Had 5m shares (either all buys or all sells) have occurred I think the price movement would have been eye watering!

i like a nice 'w' bottom myself.
Comes to something when we are getting excited because its rising past 31p!
Onwards and upwards

Season of goodwill to all men. Obviously whoever penned that never saw the HUR share chat on LSE.
Give it a rest chaps/chapesses

Bloody hell I hope not. A fund raise and only 23.5% left of all our assets. Now that would wipe the remaining smile off my face!
Happy Christmas one and all

Actually it was funny. It was a joke, remember the good old days when we could take the p*ss out of each other and get back as good as we gave? Ahh, those were the days.
Happy Christmas

I'm toddling off for a bit so may I just say before I go ....
Ho! Ho! Ho! And all that b*llocks, Happy Christmas to all posters (yes even the dodgy ones) on this Board, here's to a more prosperous 2020 as HUR shareholders. We'll get there :-)
Cheers
John

We're all doomed. Doomed.
Will have to sell my Porsche and buy an old Corsa.

Just everyone full of the joys of the season DJ

Hi Strangestill
Finally got round to reading your great posts. Bloody Christmas!
My thoughts are already documented here so won't bore with too much repetition. Of your excellent analysis I would only really quibble on a couple of points:
'Salinbas developed risk free with no further financial input from Ariana'. I don't believe that is the case, and I would almost go so far as to say that it is the first time I can remember that the board may have used words to deliberately obfuscate a significant and important fact. We know that the new Salinbas partner will supply $5m for 17% share plus another $8m to increase their share to 53%. But that's it. They will 'organise' production loan(s) but that loan is likely into the new JV - of which AAU is a 23.5% partner. An arms length debt is still a debt. So indirectly there is significant financial input. The other glaring omission which announcements so far have failed to address is just what Proccea is contributing for their 23.5% share of Salinbas. That's kind of unforgivable to me - I may not like the deal for the new partner but at least I have been explicitly told what they are putting in. The $5 to be received by AAU is hardly a windfall when you consider what AAU must already have spent at Salinbas - over the years must have been significant in the original JV they had there, buying that out and subsequent drilling.
Secondly, I have said before that the over 50% reduction of interest at RR will imo severely restrict the likelihood of a regular dividend compared with retention of the current 51% beneficial interest there.
I am still here as a holder, and think that the company is worth holding in its new form (assuming that is voted through). I have viewed it as a clean sheet, a new potential investment - forgetting what I had before (because its effectively gone) is this a sound investment in its new form? The answer is still yes. I have sold all the shares that I intend to (you will all be pleased to know!), I still have a substantial holding, and hope to have great conversations with you lot in the future!
John

Rrrrrrrrrr......hopefully someone will tell AIM Monday