Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
SP over 425 when WT announced. So no, WT cancellation/reduction not priced in. Now that capital reduction complete what’s odds on further buybacks and/or dividend increase post half year results? And we’ll still have the funds for further development.
As to why this SP is only 350 (yes I know it’s gone up over the last few days)
Fundamentals so positive….
210kboe daily
Tolmount online
Energy prices
Dividend
Buyback
Exploration positives, even Zama might start to move next year
NSDrilling
Massive debt reduction
Etc
So why did SP come down from 530 to 300.
Why did GIC sell up. I know they could be realigning portfolios, but by so much especially with current energy prices? They know anything?
Dividends normally help the SP, but we’ve gone opposite way.
Ditto with buybacks. Many share buybacks purchase at a premium and the SP rises . In this case Hbr are purchasing at a lower SP than when announced? And who are purchasing from…PI’s?
Market manipulation going on? For what purpose.?
Suppose we’ve ruled out HBR going private….have we?
Happy with fundamentals but so confused.
4.7% buyback at current currency. Means existing shareholders divi up by the same once buyback complete (divi now up to 4.9% at current sp). More buybacks next year after debt paid off?. Maybe even increase in divi next year?.
Definitely one for LT holding (though we’ve said that before and I am certainly one of those who with hindsight now regret not selling at £5 and getting back in at current levels).
Buy the way I topped up at 3.65 which more or less maintains my average. GLA.
Assume 200k production, 50/50 oil/gas…
Assume Hbr reduce debt by $1.5bill in 2022, plus $100 mill interest. Leaving about $800 mill debt which they will pay off first six months next year (assuming decent energy prices).
Saving $1.6bill/year debt payments is equivalent of 22p rise in boe for oil and about 32p/ therm rise for gas.
Not very interesting until you realise we’ve been hedging so much gas at only 41p/therm in recent years.
Are we not owed a statement from the board? What with the windfall tax and latest sp tanking... Shouldn't they provide how it affects the company.... Future dividend? Share buyback? Etc. Perhaps they care **** about PI's, perhaps they are happy about sp fall, makes buyback a lot cheaper.
Yes EIGs shares come out of hold but not sure they will be selling any. After all it’s ex-divi a week later and it’s worth abou £53 million for them. Plus, Linda Cook is one of their senior investment advisors so maybe they can see the positives ahead with high energy prices. Let’s see what happens. I’m sure they will know exactly when tolmount will be online. Might even be a very positive day. GLA.
Over 600p SP pre covid. New modular nuclear reactors seem to be getting lots of press. Just waiting for airlines to get back to normal and the rest of the world to settle (come on Russia time to leave). Lots of positives for LT’s. GLA.