Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
How can you justify a market cap that is over 10 times total sales of a company that has only ever made a loss? They have some great assets and patents and gold plated partners, but what is there to drive the SP higher?
If and when thus deal fails, shareholders should kick Les Thomas off the board due to no confidence. He is clearly not acting in all shareholders best interests and some could argue he is an agent for Delek. Definite conflict of interests going on and a lack of integrity. He needs bto go.
Anyone near our stella rig who can offer some info?
Only a couple of weeks away max from knowing a lot more about the companies results/stella numbers/ delek offer letter. It will be interesting to see how this share reacts in the run up to news. I have a feeling that stella is going well. ALB
Are Delek allowed to mop up shares in the open market? Or because of thier bid does this stop them?
But I dint think I will have to wait that long to realiseca higher price.
1.95 equals roughly 118p per share, so that is why I think 118p has been our ceiling. Not really a fair deal imo, I hope the other major investors go with cavendish on this. I'd take 140p, but I can see why a lot of peeps that bought sub 50p have bailed. I'm going to hold, because as a minor investor, even if delek get the majority, if they remain listed I think the sp will rise. If iae gets delisted, I would still be entitled to any divi, which they will pay out within a couple of years (as is thier stated intention) but it would be harder to sell my shares. However even private company shares can be sold, so I dont see much down side on 118p apart from time value of money. Ive waited a couple years already, whats another year!
Might not have had any choice but to release news of the offer before they announced first oil. Delek might have forced thier hand by making the offer, and the bod are legally obliged to announce it. Quite why they agreed a large break fee and back the deal leavesca bad taste in my mouth and as others have said the deal values ithaca fairly today, but allows no upside or future value potential. I for one am glad cavendish are not backing the deal and I too will be rejecting it.
I agree with you foresight, I've emailed them, i'll post any reply on this board. See what happens
Ithaca board only hold roughly 2.5% of the stock. There are some big investors out there like artemis etc who probably want mpre money. I think delek will up thier price.
So reading the delek offer rns. It says break fees under certain conditions are payable to delek if the deal does not go through. What are these conditions they give no details about? I do not believe this deal will go through and will hinge solely on the other major investors saying no. Also in the deal, the directors are specifically prohibited from soliciting 3rd party offers, so no white knight there! We could see (I hope for) some activist investors buying up shares to force delek to pay more. I've emailed investor relations to see whats what. Who knows!!!!!
I think you're wrong monkey, I also think there are multiple posters on this board who are the same person with certain agendas hey bb!!
Any day now we're going to get an rns for first oil. Sp will jump a wee bit, and delek will up thier offer. My average is 120p so I'm not making much off thier first offer, but I think my shares will go fir 150p. IAE has done me well previously. They paid for my house, let's get another lil pay day please. ALB
Sorry Druss, you're spot on. We've got to open at least a £ higher surely. I dont want to be accused of de-ramping ALB
Im hoping we open a couple of pence higher in anticipation of news. We are definitely getting closer to first oil.........unless they tow the rig back to gdansk ;)
According to Bigbench, we're getting news this week, so only one day to go. I actually hope he's right, because a friday RNS would get the sp flying as peeps would want to be in before the weekend with a further increase on monday. I hope it comes tomorrow but I doubt it.
Could be crew change or re supply. I'd like an rns this week but dont think it'll happen. ALB
Definitely food for thought. Great options
Hi Doubler I saw your posts but didnt realise you made the same assumptions as me..I think you and somekindofnut make great points, its not the size of the boat, its the motion of the ocean and I hope BP want to get to the fpf1. Its capable if handling 54000bopd inc gas and is state of the art with a pipeline connection. Thats half BP's stated north sea wished for increase. IMO
So there has been murmurs that BP wont sell iae certain accumulations within reach of Ithacas Greater Stella Area. If BP dont have plans for these fields, why wont they sell? Could it be possible they want to keep them and buy IAE once GSA is online and risk is removed? They are definitely in the market for cheap production. Any thoughts?