Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Cheers D1nger - always nice to get back to facts rather than the dangerous (de)ramps that this morning seems to have once again brought.
Patience is a virtue and all that...
This may have already been answered (multiple times) already - but the logic of the placing, in context, is what has confused and frustrated most people, imo.
Perhaps PMs hands were tied to raise capital for this years drilling campaign and needed additional analysis before being confident in the additional 2 targets. I don't fully subscribe the blanket response that "it's good because PM have a longer drill programme" or "the re could have been politics wrt the drill needing to be moved on via Sinopec".
If it was always in scope, could it have been communicated better back in February - if it wasn't, was this the most prudent time... perhaps it was?
There were warning signs a second placing would occur? I completely missed them...
Or they're LTH's, who invested in good faith on the back of MB's 4 drill strategy. Without any warning or chance to react, their investment is worth considerably less than it was (both monetary and company ownership). I think those that want to, have every right to ask very direct questions about how and why the vision has suddenly shifted from Feb/March.
They could perhaps have had the foresight to bring these additional two wells into scope 4 months ago with the initial fundraising. Nothing has changed, that we are aware of, that requires this extension. Which is why there are people calling for a lack of transparency, likely those who invested on the Feb/March presentation (which covered c12 months of exploratory operations)
Why, being in the unequivocal situation of having four fully funded drills, would you decide a further 2 drills are needed... and lets alienate our shareholders and dilute their holdings to raise this capital? If they are confident enough to fund the four drills, the research shows an acceptable COS, given all the talk in MBs presentation about 'the art of the possible'... why not either include the two further prospects upfront, or find oil and use the cashflow to fund further exploration? Not looking to score points, looking for different perspectives - does UKOG relate to PM, or are they two companies that have raised capital via additional share offerings, but for different reasons?
Doesn't the 4 fully funded wells already secure PM's future? I (still) can't see compelling reason(s) MB and the BoD have felt compelled to fund further at this stage (unless the more research undertaken, the poorer the 4 current targets look?). We're only c4 months since the previous fundraising and we are yet to see a drill touch the earth. If there was an abundance of additional information which made this decision a no-brainer i'd understand (and the SP would reflect that).
I'm still trying to understand the timing - i'm struggling to see any commonsense. It feels like either a few know more than the market and want a discounted 'in' to a certain 'win', or PM are extracting as much capital as possible, to the detriment of their long term shareholders. Neither scenarios bode well for any holders on this BB.
I'm not the best placed to answer (and im sure someone far more knowledgable will be along to correct me), but i'd rather concentrate on this than the posters who think this board is actually their own diary to document their speculative musings. In between the investor and the market is a third party (or multiple) (depending on the instrument being bought/sold i've heard them called market markers, liquidity providers, central counterparty) their role is to match buys/sells to allow trades to be settled - and is why a share price has a bid/ask price. Market Markers will require a margin both to hedge the volume purchase of instruments as well as to make a profit.
It's early in the morning - is there any reason why PM should have decided to do this now, rather than wait until they (hopefully) realise a prospective site and use their own cashflow to (part/fully) fund further exploration. As other's have mentioned positions have been taken recently based on the March presentation - which hasn't even started yet.
Can we put you in a Mongolian basin and see in PM can locate you? No DD allowed, just pure OB/MrP whim-drilling. ,)
Exactly the kind of dangerous whim-based posts that others on the board have an issue with - and are demonised as being "derampers" (because "Steve from Coventry" is really going to have a long term affect the SP by posting a negative thought on LSE). Just as we dip back below 13p too. YCNMIU! ALB - we're all hoping you'll eventually be right.
Continuing to cry wolf, despite the "smashed" barriers still very much intact. Most on here will continue to be patient knowing they're comfortable with their DD. Very few will be as crass as to predict the outcome of exploratory drilling & the market's reaction.
The boy who cries wolf will eventually be proven correct... We were 'warned' that 12.5 would be 'smashed' yesterday. Patience is a virtue and all that, seems particularly apt here.
Having followed the 'discussion' here for the past couple of months & TBF to CaptainStan, MrP really should be called MrMusings. As always there's a balance - i think ignorant speculation is far more dangerous to the average PI than the overly cynical, the dynamics on here would suggest i'm by far in the minority. I'll go back to lurking, there's plenty to like about MATD right now... There's plenty of entertainment within this board too!