Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
88e use to be known as Tangiers petroleum and left Morroco for Alaska.
Jon - yes I get that, similarity was more to remove the uncertainty of where are the funds to complete the job.
I also advocated for something similar here..... maybe it will come after the MOU-1 test at a higher mcap.
Big bear- and you say that on what basis?
Who wins... not the Shareholders. Man at the helm was AM and the situation is eerily similar when reading this 14 year old article.
https://www.theguardian.com/business/2009/jan/08/oil-oilandgascompanies
"The shares are now worth 10p compared with a peak of 964p in July, at the height of the oil-price spike. Oilexco has been increasingly active in Britain since 2004 when it purchased minor interests in the Balmoral and Glamis light oil fields, which provided it with daily production that ranged between 140-200 barrels a day.
In 2007, it brought the Brenda and Nicol fields into production, which have averaged between 20,000 to more than 30,000 barrels, placing it in the top quartile of all companies in the UK North Sea.
The company hired two rigs to expand its drilling efforts. When it was awarded its eight new licences in November, Arthur Millholland, president of the group, said: "This particular licensing round was considered by many in the industry to have the most desirable properties available in the last number of years. We are extremely pleased that we were able to obtain so many of the licences we bid on, and our reputation as being the most active driller in the UK since 2004 no doubt assisted our efforts."
On new year's eve, the parent group issued a statement warning that Oilexco North Sea Ltd intended to file for administration "as soon as reasonably practicable".
It said Royal Bank of Scotland and its syndicate of banks had told Oilexco that day that they were "not prepared to advance any further funding" to its UK arm. That business is said to have needed almost $1bn to finance a heavy programme that would have enabled it to bring more oil and gas fields on stream."
pretty shocking for BT to allow the mcap to be so high for so long... only to put out damper rns right at the end. To think that the mcap was well over £200 million at one point!!
I would never trust BT again.
Malcy!!
My comment about booking was post couple of months as it sits idle for free till then. Thereafter, who knows
or have I missed something?
produce should read procure
Zebra - learn to understand different POV, we are all investors here. The fact the price has gone into 6s today... it matters not, it may fluctuate back into the 4s... who knows. The price fluctautaion is irrelevant for this discussion. I as an investor am quite comfortable for them to go ahead and raise what is needed to get the job done as soon as possible with a good buffer. I am not sure what the rig booking situation is like, it may get sent elsewhere if we are not able to produce something in time, just one of the reasons why time is of the essence to procure what is needed as quickly as possible, and for that they need money now.
The prize hasn't gone away if anything it has been de-risked. I say it advisably, but that's what I feel.
The barrier to that prize is geological complexity, and the fix to that is money. Then as an investor, I want to see them get the money and go after the prize as quickly as possible. I want to them to operate without fear... fear of looking over your shoulder of running out of money if this or that goes wrong...
Jon - what if he comes back and says we need to side track and then does a raise?
you guys are not comprehending... the prize dwarfs anything they have to raise. I know he has 46 million share and may not want to dilute himself, I get all that... but this is needless penny pinching, just capitalise yourself and get the job done as quickly as you can. If it is successful, this raise will be a complete non issue.
Lab tests do not take long... its a test, not a project. If its a project then that implies something else, and something lot more intractable. If you guys were listening, he did not rule out side tracking categorically. If eventually he has to raise after a month or so then we would have lost a month before he can start the new purchases etc...
I did mate, was watching live.
How long does it take to do the tests... Its few days to a week at most. Considering when drilling stopped, this should be done already. Just get it done already and do the raise for another £5 million and get on with the drilling. Don't hang around and dilly dally and **** away the free idle time for the rig. Unless the problem is lot more intractable than what we are led to believe?
Giga- we were pretty much right with the forecast. 120 million odd mcap with 70 odd in bank, and a loss making operation. This should now settle in the teens.
st ives - i been here since day 1 too. need 40-50 bagger just to break even . lol
Bangla - bingo!! Give them an equity stake in the company and promise to sell them under market rates.
Show up today if you can!
Feel sorry for my friends John1970 and 1509 along with all the genuine holders here. John should be ok, as he said he was trading this, I hope 1509 was doing likewise.
no they cant... the word covenant is a clue!! That's why you have to be careful of debt, when things go wrong, the lenders just kill you.