Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Follow your reasoning and i have similarly been adding to UK smaller companies. Rather than adding to my MINI holding I have been adding to its stablemate DIVI purely because I think it will recover first rather than the micro companies here. NAS and OIT are my major holdings but will add to MINI later in the cycle.
Only problem with MINI is its such a small IT and any discount will be sold into once a year. GL.
Now the 3rd Quarter where we may know whether Serica has applied for further UK Licences in the latest round. On a Macro front I would ask the question - why? Oil & Gas are in a transition period, whether we like it or not - the big question is whats the time frame. Once upon a time, Parkmead held 2% of Faroes Petroleum shares and BP held 5% of Serica's shares.
Perhaps rather than applying for further licences we should diversify in a similar way with our profits left after EPL. I'm no chief finance officer, but I have strategically sold off some of my Serica shares and diversified my portfolio somewhat and the dividends certainly help nowadays building up my other holdings.
Ukraine will eventually be settled, and the Saudi's will find it difficult to hold sway over the shear amount of gas & oil entering the market - politics will come into play to steady the price but its never going into orbit and a declining trend.
On the bright side, dividend declaration coming soon and Mercuria / Serica will be running slide rules over various companies - no drilling please!!
But still within the last 6 months range bound parameters.
Will take notice once we have a sustained sp above 250p and the interim at least maintained at last years figure.
Not to shabby mind and does wonders for my portfolio. Still have final dividend in cash, just in case - news please!!
I just cannae see it after 3 years as a sound investment. It plucked my heartstrings as did my other tiddler, Renaltyx and are great little companies with niche products. Fair value of 63p - my thats heady but i would take it!!!
Quote: "Harbour, which last year complained its profit had been wiped out by the windfall tax on oil and gas companies, revealed that its tax bill was lower now than it had been before the tax was introduced."
No mention of a loss after tax of 8 million.
After the last discourse re EPL I was hoping for another damning retort - but total silence from Harbour - perhaps its all in the figures.
70's Miners disaster springs to mind, lets collapse the oil industry and have perfect green credentials and import everything - its other countries responsibility then - just the sort of mantra weasel politicians spout. Total madness.
I would be happy with the interim being held the same as previous Newk, rather than the debacle at i3 Energy thats cost me dear. Would much rather see a continued slow rise in the sp back to 300p. Might make you hang on to your substantial holding, ha ha.
Good to read Ithaca diplomatically stating the damage that the EPL is doing to the industry in its results today. Harbour will obviously state the same, but the silence is deafening from government.
Its obviously a poisoned chalice, whereas Business Directors awarding themselves collectively a 16% pay rise last year hardly raises an eyebrow.
Perhaps an EPL on BAE and other armament companies wouldn't go amiss, after all they are not benefiting from the war in Ukraine, and perhaps the Financiers and Insurers - heaven forbid!!
Gas up for a period, lets see what today brings for our tortoise.
Not to good for long term holdings but we have been 210/250 ish three times in the last 6 months so been good for trading tranche of shares. Small beer, but in this climate it stops me thinking of how painful its been for Serica sp. Even Mercuria would want this back to 270-300p range, unless they are saving up for an offer at 250p when everyone is fed up.
I'm all for new licences with proven discoveries, but our drilling prowess has been abysmal over the last 12 years - or just unlucky with no discoveries being commercial or dry holes. Perhaps better luck with the next inline with Parkmead.
"the previous company that the board built got taken out by DNO at circa £700 million".
I knew they had a good record, but did'nt know it was that good :)
The Institutional Investors were so disillusioned by the Managements ability to increase the MC fourfold, along with a complete disregard for the share price, that they pulled the rug from under them.
I have a small interest here, which I will endeavour to trade rather than hold - unlike my 10 years at FPM. Management have done even better here as FPM only dropped 50% from its market debut price - be a while to return to 100p methinks. Its all timing so GLA from here.
Newk, I'm a glutton on UK Smaller Company IT's and Chinese IT's at present. No doubt they are packed with telecom and cyber security, especially Herald and a tad less risky than individual shares at present. Still very overweight in SQZ which acts as an anchor whilst we slumber. You never know the kraken tortoise may awake !! atb
Tried not to go down that rabbit hole Dick, although I would expect the Hardy's to turn their noses up at anything under 300p. Who know's, all doom and gloom at present, I've turned the TV off as its all negativity and politicians wanting a pure socialist society. Maybe getting rid of Non Executive Directors round robin gravy train and windfall taxing Exec Directors bonuses would bring a few pounds to the table. Nah lets just raise Corporation Tax to 25%, collapse the economy and everyone wanting a job in the public sector and going on permanent strike. Dismayed at our return to nearly yearly low - perhaps they want me to re invest my dividend at 200p. GLA
Its been a painful week Newk as the MC was well over £200m not so long ago.
Revised drilling forecast down the way and the dividend halved and gone from monthly to quarterly - thats choked sentiment.
I'm sure Mercuria are working on something that we couldn't anticipate or guess. Marking time at present, but didn't see a descent from 250p back to 210p - Mercuria should not be best pleased now they are in control. GLA
How about adding i3 Energy to that list Newk - it might lessen the pain for me!! Thats my only 2 oilies needing consideration for re investing my dividend coming shortly. IT's holding water at present but hardly budged in the year.
My capital loss is now similar to the Liberator /Serenity disaster - amazing what a few weeks does to a company that is profitable but sentiment changes. I can accept managing the dividend to the companies benefit but the drop in MC to this level, seems a tad excessive. Now I want Serica to bid for i3 Energy and get rid of the UK wage bill.
Now, now Dick, stop rubbing salt into the wounds. Working back the way to last August when SQZ was above 443p (hard to believe) I surmise the Tailwind deal was being worked on at the height of the market. Not to good for the buyer, but impressive sale by the incumbent management, who are now firmly in control of Serica's destiny going forward.On the back of the Longboat deal, Graham Stewart (Longboat & ex FPM) has now joined Curium Resources as Non Exec Chairman in a new venture looking at stranded assets etc in the UK. Serica has been quiet for a while now and has descended back to near its lows - perhaps the second half of the year will engender upward momentum. GLA
Just been through this with my only other O&G holding besides i3 Energy, in Serica Energy. High of 443p ish, Tailwind acquisition at 278p and now languishing at around 225p.
Hold a reasonable amount of i3 Energy giving me £1000 per month dividend, but extremely painful with an average of around 21p . It certainly seems that something is afoot - it would be just my luck that Serica have decided on i3 Energy as their preferred oversea's holding. Off to wet the bed - well maybe not yet.