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There is increasing concern on this BB about how low the SP can go whilst we all wait patiently for some news. I am significantly under water with buys at mid/high teens. Can someone shed light on when JW had committed to getting a new finance deal in place? Why is he still carrying on with the excessive costs of the Riverstone deal - searching for Nirvana or simply buried in admin?
Recent announcements would surely have maintained the SP but here we are back in the tens. Not even a sustained, modest, increase. There appears to be much work going on, further staff employed at all locations and levels, future work secured and yet no increase in the company's worth. Are headed for 20p plus or towards 5p? I have much at stake here.
With the price now down to the level before IM JR there must be something sinister going on. There are parallels with Sirius Minerals where the price was driven lower by MMs to a level where a large corporate - AAL - bought out all shareholders and set about realising the true worth of the company. Is one of the big energy companies at it here? If so at what price - below 20p?
Does anyone know the details of last shutdown?
Date; duration; restart; current production rate?
I have been a long term reader of the chats on this board. Tks to all contributors. I am also significantly losing money - for the second time after all the problems in 2021. Given the recent and steady falls over last several weeks do others believe that there is a plan/conspiracy to drop the price to a level where a prospective purchaser emerges to pick up the whole company at a low cost and then enjoy all the benefits that have been so well articulated for the company's prospects?
The RNS of 29th Jan stated:
"Individual well flow test on 205/21a-6 well ("6 Well") due to complete before month-end, following which two well production is expected to resume at 20,000 barrels of oil per day (subject to facilities availability)"
I would suggest that this does not confirm the increased rate will happen nor does it oblige the company to issue a RNS if it were not achieved. The key words are "due to", "expected" and "subject to". I maintain my view that No News is Not Necessarily Good News. A company statement in whatever form would provide some facts that could better fix the current wayward SP.
Without some good news wrt the increase in production I fear we shall be falling slowly to the low teens. No news is not good news in this case.
I believe this has echoes of Sirius - price driven down by MMs to facilitate the acquisition by one of the mining majors. HUR could go the same way. Low of 10p and acquisition at 15p - 50% uplift??
GLA LTHs
There have been queries about HSBC. Just received correspondence and called them. NO option for making an application for additional shares as they hold your shares - ISA or not - as nominees. I have applied for my OO entitlement and gone through fine.
Best wishes to all LTH - it has been a bad few months but light at the end of the tunnel!!
New low? Surely not. What news we have had over last few weeks has only been good but SP falls.
I worry that perhaps the "Chinese walls" have cracks in them. Are the MMs getting, from their colleagues, a sense of difficulties with the fund raising for ST2 and selling accordingly? Certainly all the news from the site would indicate we should be having a progressive increase in the SP but we are faced with falls.
I am an avid and daily reader of this board, but a very infrequent contributor. I have lost tens of thousands on this share having purchased in the high 20's and 30's but remain loyal. This, in part due to my NY origins and a belief that this project MUST go ahead for the sake of the region. I had an association with CPL when Boulby was being built and strongly supported that venture. What puzzles me now is why a good RNS today and last week - all major contractors now buttoned down and mainly with fixed price contracts, with the associated risk; harbor facility at Redcar - has led a further significant fall in the SP. The volumes are normally reasonably low but where are the buyers? What do the MMs know we do not? What does the board know they will not share? I cannot understand nor find any justification for the fall from 38p, nor any reason why we cannot at least start the journey back to something approximating those levels. Any thoughts?
I am grateful to all contributors to this board, particularly those who have far better financial analysis skills and knowledge than I do. I have followed this share for almost 2 years and progressively invested through 2017 to a holding of several thousand, at an average price of 26.6. I am a 40 year NY resident but now a retired refugee in West Midlands. My investment was partly "for old times sake" and some future capital gain.
The gyrations in the share price are something I have never witnessed in other shares but question whether these can only be due to "shorters". Are we now seeing bad news leaking that we PIs will have to suffer when published?
I don't want to sell as I have every wish to see Sirius succeed but 26 to 38 and back to 25 is a journey I find it hard to fathom. GL to all LTHs
The current absence of any communication from the company on interim report; Torps & ST2 financing has to be a cause for some concern.
Anyone been past the mine recently? High levels of activity or going through the motions?
We all need whatever reassurance we can get at this time.
I have been watching this BB for some 18 months since I became an SXX shareholder. There is currently much debate about the risk to us PIs about dilution should the all debt plan for ST2 not be realised.
Surely if further equity is needed that may be through a rights issue and all PIs can either proceed to buy or sell their rights. If SXX, in its wisdom, seeks to issue new shares only to IIs then that will be at a price related to the then SP. I cannot see a large, heavily discounted issue of new shares to IIs which will simply destroy the worth we, and CF and board members currently have through longstanding commitment to the company.