Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Lti, Yes if £30 is going to happen it will probably be before the fourth quarter results. We are in the middle of a Perfect Storm but, it’s unfortunate that people are suffering in this war for it to be part of the driving force.
Hey Larry, Happy days I’m just a bit miffed after holding for three years I sold 45% of my shares for £25.90. Still I was in heavy and needed to diversify so it’s nice to have a chunk of change sitting on the sidelines, there will be a lot of opportunities in the future.
brent up 3.8% but it’s a knee jerk reaction and already dropping to 3%. we will have to see how this unfolds when the army steam in to gaza, remember they really don't want to **** off the saudis, middle eastern, north african countries or the us and the west just when things were starting to normalise. biden told them it must be a measured response and not a land grab because the world is watching, but of course anything they do is going to be difficult when terrorists hide in blocks of flats holding hostages. so yes much could go wrong but besides iran and their proxy’s in lebanon etc, i don’t think it will effect the oil price too much unless iran try and cause a blockade for tankers, however the us have an aircraft carrier and its cousins are on the way.
still two weeks ago we were told a $100 pb, then last week after the announcement of 336,00 new jobs in the us they said it will never get to $100 because of interest rates but now ……. we will have to wait and see how it effects results next month.
your thoughts gents.
Thank you all for sharing your thoughts on setting a stop loss. Personally it’s a last line of defence incase something goes bang in the night, or there’s a terrorist attack on a rig and the sp crashes. Also not being a trader I don’t want to look at a screen when I go on holiday, although I probably do.
However I remember in the 2009 crash when I owned shares in wildcat drillers who were on the 250, and the M’s would run down the sp to knock out shareholders stop losses which made me a bit paranoid.
Not being a trader I would appreciate a suggestion for a suitable stop loss to set on my Shell account which is currently £21.60. If the sp stays around
£26+ - should I increase my stop loss and if so by how much.
Boyo, except for once during the past three years I have held but two weeks ago I sold 45% of my shares 2000 for £25.90 ps. Of course the next day it went up to £26.60 ish, and for the first time half of me wanted the sp to go up and the other half wanted it to take a dive!
Hey Sharefall, the Saudi government will keep the oil price at $100 for as long as they can, because that’s the amount they need for their massive infrastructure projects. Sell less O&G for more dosh which also suits the Russians very nicely.
Sharefall the elephant in the room is oil which is going to be $100 pb for the next 12 - 18 months and this will push up inflation and cause higher interest rates.
NSS, the Chinese have spent $Billions in both countries on infrastructure and ports so they can get the minerals out of both countries. It is probably easier doing business in Namibia because there’s only 2 million people in the country not 60 million.
In SA to get things done brown envelopes would need to be passed, but it would be safer doing business here rather than Nigeria or Mozambique etc. I can think of a dozen other countries around the world run by dictators, or the army which are unstable with terrorist threats.
Hey NSS, when I moved here 30 years ago Shall and BP shared a refinery in Durban, and they both have hundreds of service stations all over the country.
They have now both pulled out of the refinery after public opinion stopped Shell from carrying out a seismic survey along the Wild coast, and BP was stopped from fracking in the Karoo desert. Namibia is good for business but they are both a better bet than many other oil producing countries.
NSS, Total Energies and Shell have found a lot of O&G within the massive Orange Basin which extends down into offshore South Africa, which is excellent news for SA as the existing gas refinery at Mossel Bay has been running on fumes. The power plants and heavy industry desperately need this gas so they can stop burning coal. We live with 8 hrs + - of power cuts everyday due to ANC corruption and incompetence. I think they are drilling at depth's below 2,000mts of seawater then another 3,000mts below the seabed. DYOR
Hi Larry,
The BBC said it had something to do with prior relationships in the company before he was made CEO. Whatever more importantly who will be next.
I remember when Van the man retired some said his replacement would just be more of the same but it didn’t pan out that way did it.
Hey NSS, Yes I heard news last week that they’re only doing a two month quick fix on Preludes essential work, so they don’t miss out on the northern hemispheres winter gas demand and possible higher prices.
The US government plan on drawing 15 million barrels from the SPR, the US ADR is at its highest $64.15, Libya won’t be pumping oil for a long while due to the floods and OPEC + are cutting oil production by 2 million bpd starting in November.
£26 here we come what say ye.
The stars are aligned.
Brent is $92.32 pb and Shell at £25.28 surly it’s only a matter of weeks before we get to £26 again.
Any predictions as to when we will reach £27 which has to be doable in the not too distant future.