Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Scully, I agree - certainly fishy. Is it normal for only 10% of shares to be traded after a bombshell RNS like this mornings? Whoever holds the other 90% are either asleep, indifferent or not perturbed by this latest development?
Are those involved in grant Environmental authorisation bound by the same insider rules? Would those EA officials & BG personnel & Bahamian nationals hold their own BPC shares? Not too far fetched? Maybe the BOD are playing this, hurting pockets, staving-off greedy officialdom and motivating immediate action.
I think it is fair to comment that the Angus BOD have absolutely no regard for PI's. Regard may have shown by making an open offer for qualifying shareholders to buy at the low placing price. Instead you have Bergen and a BOD which treats PI's as mushrooms while the insiders can scheme in the back rooms.
Back on the 8th, as approval from SCC was formalised, the shares in issues was 325m, with new placing shares (56m) then added, totalling 381.722m shares in issue. As it was generally accepted that the the rise was in anticipation of a positive SCC ruling, the current SP (after dilution of 17%) on no immediate news was predictable.
......as vast as space and as timeless as infinity. It is the middle ground between light and shadow, between science and superstition, and it lies between the pit of man's fears and the summit of his knowledge.This is the dimension of imagination It is an area which we call the 'Twilight Zone'".
In the US, 700 million barrels of oil are stored underground in many varied locations, as strategic emergency reserve. Initially this was drawn up in response to lessons learnt from the 1973 Oil Crisis - Arab states oil export blockade reaction against US support to Israel. The EU has its own strategic reserve, to which the UK belongs. This protects the EU states against meddling interference from Russia the Middle East. It holds the bully boys away (be that Trump or Putin!), protects economies, protects well being & quality of life for EU & UK citizens. Freedom & quality of life for Nimby's, Brexiteer's, Remainders & Eco-Warrior's alike is maintained by the protection of our economy, infrastructure, government & miltary, under-pinned by strategic reserves. For all sorts of political pandering reasons, this Government does not openly endorse the Weald exploration.......Yet! It will appear very hypocritical of the government to not get behind the Weald players at this juncture, given the potential of the future benefits. A proven reserve in the South of England should be of massive strategic importance to the Government, as the parameters to our existing liabilities/ EU are redrafted.
Yes the same sort of tough jail time experience by the likes of Jeffery Archer & Jonathon Aitken. Cell room thermostat set on 20 instead of 23C
As historical artifacts go, return tickets for the Titanic are probably very expensive fo purchase, but these shares are now worth totally Zilch! If you are a LTH, YOU are responsible for a poorly calculated decision to hold to the very end (and so later-comers, very mush so). The high-risk facts WERE clearly headlined in the months, weeks & days up to Monday 15th. The shareholders are now at the far back on the line here. The priorities here are workers jobs, Pension schemes, workers, lenders, contractors and suppliers? The directors, management, government & banks HAVE been totally incompetent here, but would a future public inquiry reveal this and when (what year?)? And if so, the shareholders will still come last. If you misjudged this big-time, you also have something in common with winners - they also make mistakes, but process that into a positive lessons and don't take it too personally. Winners become winners by dealing with failure and then striving forward. So chin-up you are in good company. But now its time to leave this crap behind and move forward.
What happens to short positions when liquidation / administration happens? Is it the shorter or broker that loses, or both? Anyone keen to elaborate?
The debts & liabilities were carillions, but the stripped assets will be handed (wink, wink) to those who waiting slyly in the wings, I.e Balfour Beatty & Kier, et all. This lumbering beast has as been dragged down and the carcass ripped apart. The government has been totally complicit in this. 2 points: Why did government allow Carillion to virtually monopolise on contracts? If the government is now banking rolling completion of loss making contracts, weren't they prepared to agree funding during talks?
Cripes - Excellent point! The government must take responsibility of setting up failure - it encouraged the envoirement for under-cut contract bids from Carillon. Its called 'race to the bottom'. Experts are now commenting on Chris Graylings HS2 contract awarded to Carillion. But if the government knew that they needed the work to keep the wheels turning & mouths fed, then what decision makes political sense? Why would you starve a big infrastructure concern of government employment? Too many no-nothing politically motivated journo vultures out there.
Look up Carillion on Wikipedia and see the companies that it has aquired in the last 18 years. Amongst them: 2001: GT Rail Maintenance 2002: Cited management services 2005: Planned Maintenance Services 2006: Mowlem 2008: Alfred McAlpine Is there scope here for Carillion to reverse engineer this? I.e. remove debt & pension liabilities. Could Carillon, Banks & Government work together to repackage saleable branches of the business along with their pension liabilities in roughly the same form in which they were purchased? Carillions mismanagement has clearly created a buyers market for the saleable parts, but contractual caveats could help towards mitigating potential losses on the sell-off. A slightly alternative view could be that a potential mismanagement by the government reallocation of contracts would create a 'Race to the bottom'. I.e Horror stories for'TUPE'd' former Carillion staff: mistreated & bullied and sacked under new cost saving companies. The Government has clearly dithered on this, but now do they have any choice other than stepping in now and broaching a deal the contain the political fallout?
'If you can't spot the sucker in your first half hour at the table, then you ARE the sucker'. Quote from the film 'Rounder's' 1998.