Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes, that article in the Telegraph (June 18, 2019) was encouraging.
As a long-term shareholder I particularly liked this:
"Business in the US was buoyed by a booming construction sector and a structural shift towards renting rather than owning equipment."
LM
I don't know if I am just imagining this, or fabricating it because I so want to believe that UKOG will come good in the end, but it seems to me that SS has a relaxation and contentment about him, as he speaks, that I haven't noticed previously.
Again, I can't say for sure, but in previous interviews - especially a couple of years ago - he seemed to be more fighting his corner against criticism, naysayers and doubters.
If I am right about him having a new-found relaxation in his manner, this would imply that he is utterly confident of attaining success in the prospects ahead.
Good! Keep going, UKOG!
LM
According to my calculations (possibly too grand a word for such a simple thing to discover, but still I might have made a mistake somewhere) this is the total number of shares bought so far in the share buy-back scheme.
It just HAS to make a difference to the SP... Meanwhile, let's hope that Trump and his Chinese friends have a nice time together at their forthcoming meeting, and on Monday the SP will further reflect that.
LM
Here's something to put things in perspective:
"Hurricane said that on Tuesday its Aoka Mizu floating production, storage and offloading vessel recorded 72 hours of output - a phase known as first oil - at a rate of 20,000 barrels per day.
Its shares were up around 2.7% at 60.65 pence by 0737 GMT on Wednesday, having hit a two-year high earlier."
20,000 barrels per day?! Makes the results of our beloved UKOG's efforts seem rather paltry by comparison.
"2x £50k buys today. Someone building? looks like prep for another push. Can we break through the 1.05p that keeps holding us back"
There used to be something, or still is, called marketmaker to marketmaker deals, for when mm's need stock and transfer it between themselves. Or does that only apply to non-AIM traders? Or does it apply to nobody, and I am talking nonsense?
I just seem to remember something in the dim, distant past, where you would see some giant trade and then it would turn out to be only mm-mm. ii used to list the trades with codes to show buys and sells, and mm-mm had its own code.
Am I showing my age?
Roll on, UKOG! I need you to do well!
LM
Seadoc, I bought The Art of Execution due to its being mentioned here. I have to say that I was extremely unimpressed with it. I learnt nothing!
The entire book seems to contain only the following message:
Some traders, when things don't go in the right direction, sit around like a rabbit in the headlights and do nothing. Often they wait until the price has lost almost all its value before finally selling - when they could have sold earlier and lost less!
Duhhhh! Really? I would never have imagined that. Is his only point that it is not only amateur, dabbling investors like me who have to admit to having done that, but also professional traders too? Well, okay, perhaps I hadn't thought that they could be as ill-advised as me. Not a life changing point, though.
Then there are those traders, he says, who, the moment things go wrong, immediately sell. REALLY? WOW! Well, of course we all do that, sometimes! Do I need to buy a book to tell me about that? Sometimes it pays off, sometimes it doesn't. It depends on what the new news is. He makes the cracking point about people who are afraid to buy or sell, in the fear that instantly the price will go in the opposite direction. Really? I thought it was only me who had a problem with that! (No, I didn't.)
And finally, there are those that average down. This seems to be his main advice when things go wrong. Wow! Now that really is surprising. A lot of investment gurus would disagree with that. It's what I have always done, but it is extremely dangerous, and while it can be a good way of breaking even, or even making a little profit, it is also a fast way to compound your losses. There is also the problem (which has happened to me) of averaging down, but long before you get to your average being below the SP, the company gets bought out at that low price and you are simply screwed. He doesn't mention that.
Perhaps I 'learnt nothing' because the main really good things in the book were all quotes from the leading books on investment that were written in the 90s, many of which I read at the time - so of course I already knew the key points.
Now, this being the LSE, I am going to sit back and wait for everyone here to jump on me and pour scorn on what I have said, and on me, but that's fine! All I'm saying is that for anyone other than a complete trading novice, this book really isn't worth paying for. Luckily I did not get it from the publisher, which would have been something like £22 plus £3.50 for second class postage, and instead got it new from Amazon for £12 with free next-day delivery.
LM
Anyone have any idea as to what's going on with Redcentric? Why is it going up now? Does anyone think there is any basis for expecting the rise to continue?
I am in rather heavily with an average of 92p per share. I had more, which I had bought for much less, which I sold when it topped 100p. Naturally I've been kicking myself ever since for not selling the lot.
Perhaps now, though, it will exceed its previous recent high.
Any thoughts, anyone?
LoveMusic
But I couldn't find the original post to reply to - now I understand why - and so I started a new thread titled 'Major institutional investors'.
As I already said, I only mentioned TMF, only asked a question (which has now been answered, i.e. that those shareholdings are nominee accounts), and only included a link to the UKOG shareholder information page.
Weird.
Still puzzled, still annoyed (sort of)
LM
At 11.16 today I posted a message here, questioning why The Motley Fool said that there were no major investors in UKOG, and included a link to their website listing all the major shareholders...I got one rec...I was waiting for a reply to the question...and I've just come back to the screen and guess what? My post has disappeared! Why on earth would that be? I merely asked a question, and the link was to fully public information.
Drifting between puzzled and annoyed.
LM
The way I look at it is this: there are 7.7 billion people in the world. There are 6,047,606,516 UKOG shares at the moment. At the present rate, there will soon be one UKOG share for every person on the planet!
Frankly, as a LTBH urgently waiting to 'get my money back', never mind become a millionaire, I find the number of shares in issue depressing and demoralising.
Perhaps I should read your post again, but you don't seem to mention the difference between the two in market cap and number of shares in issue:
Angus: 459 million shares, market cap 25.01m
UKOG: Slightly over 6 BILLION shares, market cap 69m
Doesn't that say it all, at least for the moment?
I'm extremely busy doing nothing whatsoever about my holdings in both companies. I'm thinking two or three years ahead on them. I'd rather not be, to be honest. I'd rather have the funds available for trading in other sectors. But having foolishly allowed myself to sink almost up to my chin in the quicksand of the crashes in the share prices - Angus down from 35p, UKOG down from 9p (yes, I was idiot enough to buy at that price when I should have sold), I have no choice but to wait.
LoveMusic
I guess I shouldn't be trading, since I understand so little about how things work in the stock market.
The Ashtead share buyback, for example. Today Ashtead spent 1.5m on buying back shares. Yet it has massive debt. How does that work? Shouldn't they be aiming to be debt-free, before they start throwing their money around?
Oh well. Not understanding nonetheless, it seems to me that the brokers agree that Ashtead should be in the mid 20s, i.e. £25.00 per share, so all I can do is wait for it to correct itself.
Meanwhile, at least there is the dividend, albeit rather small because of Ashtead trying to satisfy both the Americans (who like buybacks) and the UK (who like dividends). Holding the shares is still better than money in the bank - so long as the shares don't keep going down! I hope the last few days of recovery continue.
With a bit of luck, the pound will plummet!
LoveMusic
My heart sank when I read '1000 barrels of oil a year', until I realised it was a typo. Later on he says 1000 per day. He should issue a correction. If people read only half the article, they could be put off. For that matter, they could be put off if they read the whole article, but that's another thing.
However, I am still holding, still waiting, still dreaming, still ever patient and prepared to wait...
LM
Is there something I don't know about? Down 4% as I type. Contrary to what I said in my last post, I topped up a bit yesterday, thinking (hoping) that yesterday's fall would be followed by a rise.
I don't mind holding. Money in the bank at almost zero interest is wasted. The div AHT pays is only nominal, but it is still better than nothing. On the other hand, the money in the bank doesn't go down like the value of my AHT shares is.
Perhaps the Trump-China deal has gone bad after all, and while the City knows, the PI doesn't - yet! I hope that's not the case.
LM
"Equipment rental firm Ashtead tumbled 2.8 percent despite a surge in quarterly earnings, with a trader saying the fall was due to the company failing to upgrade its full-year forecast."
Such a good company, such health in each area of its results, and still the market is not happy. I'm holding. I'd buy more but I'm already a bit heavy in this.
Apparently, according to The Motley Fool, analysts have pencilled in a potential net profit of £13.4m for 2019 based on the company’s own production targets, "a substantial figure for a business that has generated nothing but losses."
And based on these estimates, the stock is trading at a forward P/E of just 3.
All very encouraging, I would say.
LoveMusic
From the BBC interview, Stephen Sanderson, 11 February, 2019:
"We've been producing here [at Horse Hill] for about six months. We've produced almost five million litres, that's about twenty-nine thousand barrels of oil. It's looking very good..."
I'm sleeping more easily in my bed at the moment, less disturbed about my current mega losses in my UKOG holding. I still remain hopeful that one day the losses will be a thing of the past.
LoveMusic
Not only that, but he spent a quarter of a million quid on them. I was so pleased - I have been most concerned at the recent falls, since I am heavily invested in AHT.
I can't quite understand director buys like this, since he can't sell them without sending a terrible signal to the market in the reverse direction. Still, presumably he knows what he's doing.
LM