Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I have a number of shares in here from 2009, does this mean that I can purchase shares at 7p on the offer still? I've only just had a quick read as I thought I'd never see the light of day again. Or am I talking rubbish?
Any thoughts on the reason for the fall this morning?
Lockdowns?
PI's panic selling?
Stop Losses being closed out?
Inclinations about the Kenya project not being passed?
Recent fall in oil price?
Shorts playing games?
MM's taking it down for their mates to fill their boots?
Any thoughts?
Based on RedBaron's calculation of $42 a barrel costs. Oil at $100 average over the next 4 years means $106 million a year or an extra $529million free case flow rather than the $300million expected at $75 a barrel.
At $110 oil its $620million
I hope this starts to now recover and finish above 55p, way way oversold and hopefully some money to be made for some lucky people in the next few hours, unfortunately not me as I do not have any spare capital. Poor management form me,.
My concern is that oil is $6 to $7 higher than earlier in the week and the share price is still far below what it was and not made the expected progress. If oil fails back to $88 then expect the share price to tank back down further than it has increased. Possibly 46p/47p range.
However, who knows what will happen. At this rate $100 oil will only mean 57p share price at a maximum if that.
I posted my sell of holdings yesterday that I did on Thursday at 57.15p for 72612. I gave two reason why I sold (although I still have a large holding remaining) . I did this based on past experiences after RNS's having missed the drawbacks.
One - no news until results unless a surprise RNS then I will jump back in with the holding.
Two - I believe that oil price is high and no major uptick in Tullow's share price in relation to oil. 1 dollar oil price rise = 1p up. 1 dollar drop = 2p fail as standard for Tullow. A fall in oil to mid 80's will see this in the high 40's.
I am aiming to change the 72612 into 100k shares in 6 months or at least try.
An honest view.
I will be straight up honest. Now I have either played a nice one, which is not very often or I have got it wrong.
I sold 72612 shares on Thursday for 57.15p. I still have a load more left in. Two reasons,
One, I have seen this happen loads of tines, the price hitting 60p plus followed by a disappointing or average RNS and a drop back into the 40's.
Two, I believe there is no news now for a good few weeks and share price will fall slightly. Again, been through this before and kept all my shares in and had to wait ages for the price to rise back.
My aim is to try and turn the 72612 shares in 100k shares over the next six months by trading this, whilst keeping the other shares in in case of a surprise RNS.
So how it will play out who knows but I am going to give it a go.
Is that fair reason?
I've got 20k sat on the sidelines as well, either invested in Tullow or I have been following Cineworld and might dip in those as I cannot see the court case happening for ages.
It's either a good call from.me or half an egg on face time.
My calculations so far if I bought in at current price is that I have made 3904 shares give or take a few.
Least I am honest doubt many others can provide a position but I do not mind. Probably wrong but oh well least I am trying.
No news now forecast for a while so it may well slide down over the next few weeks until March full year results. People possibly selling off and buying other plays for a while. People may well have cashed out after update and have cash on the sidelines.
All possible reasons for a short term full. I would expect we may see 52p. Wish I had sold my full holding at 60p the other day. But oh well.