Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Upomega,
Benchmark was based on 20 year average apparently, guess those years were never indexed linked for inflation when they did the calculations either.
Absolute joke the floor criteria imo and the industry as you mentioned appears to be accepting things as they are with very little pushback .
Aimo & dyor
Rellim,
HBR could easily make SQZ an offer and by utilising our corp tax losses alone would make good business sense given combined production HBR profit before and after tax could look totally different.
“Profit before tax reduced to $600 million, from $2.5 billion, and after-tax adjustments the company reported a $32 million profit..” for HBR
Should Labour not carry out their threat to close the “loophole” HBR could then package all NS assets circa ~200kboepd for a tidy sum and fully exit UK. But as you rightly stated, HBR may well have enough to be going on with atm.
aimo & door
Atb
Wishful thinking is always welcome… and sometimes out of the blue RNS’s do occur so who knows!!
Something has kicked off this sudden buying spree by board and Ned’s or could simply be once we hold / increase our dividend next month on results then reality will kick in on how undervalued we are. Atb
Aimo & dyor
HBR announced today:
“ § Proposed final dividend of $100 million, in line with $200 million annual dividend policy and equating to 13 cents per share (2022: 12 cents), reflecting dividend per share growth for the full year 2023 of c.9%…”
The good thing about extending the EPL is it has no relevance for another 5 years, by which time the economic and political landscape will have changed for sure…. As Upomega has mentioned many times before, the NS players should do all they can to reverse the impact, be it lobbying at the very least to closing down investment and moving overseas and listing in US. Every other sector can produce mega profits off the back of world turmoil yet O&G for some reason appears an easy political target. Ps love your subject title Upomega ….
So we added another 10mmboe reserves over and above production. 140mmboe x $10 is $1.4bn, plus Net cash and the $billions$ in currently available tax losses and I’m sure Mercuria is more than happy with our current SP … we need someone like HBR to make an approach. Ridiculous SP atm although we do really need to retain our dividend, any cut would be yet another blow for investors and sentiment especially.
Aimo & dyor
Two measures have been announced to get more people and pension funds to invest un UK stocks.
"British ISA which will allow an additional £5,000 annual investment for investments in UK equity with all the tax advantages of other ISAs. This will be on top of the existing ISA allowances and ensure that British savers can benefit from the growth of the most promising UK businesses," Hunt says.
It will also force local authorities and defined contribution (DC) pension funds to disclose how much they have invested in UK shares.
UK pension funds currently invest a fraction (4%) of their assets in UK shares
……… hopefully some will flow into NS companies
"Of note and topically is that Big D opened ENI's new LNG facility at Pointe Noire just yesterday....."
It appears there is presently plenty of 'vacant' land surrounding the processing plant too.
""The tax has ended up raising less than initially forecast, with the government’s monthly receipts data suggesting about £6 billion has been collected to date. The OBR’s forecasts indicate another £3.6 billion is expected over the 2024-25 tax year, with takings tapering to £1.9 billion in 2027-2028...." (if they are lucky imo)
If that doesn't tell you its and industry in decline, don't know what will ....
https://news.yahoo.com/hunt-considers-extending-uk-windfall-130625331.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAFqcjNZDtf0vH7V0KXUXMGEEyd4qnZ58wjJgx4cbzAHGWKHjCZ4_MdkfcQ4Xl6ITlIG-NjlcIOmpFKSt2o5urz_2UKNM6NNwTFSRuOcsJnpK__YDE5mVexBhBRr_lXgYmjm1qCr5_Fu9IaGlf0fG7KL4QyHIQU9h_DlyvU3dFgiw
aimo & dyor