Member Info for oxygen

@SCB. Still plenty of headwinds around. Just look at latest Wage growth at 7.2% / CPI 8.7% against the BoE’s inflation target of 2%. Just watch what happens when Interest rates pass 6% and Credit gets further tightened. Just need to hope much of BOO’s customer base are still fairly cash buoyant, but given the draw down on Savings accounts I doubt it !

Don’t ignore Macro trends. Companies more heavily exposed to Retail Investors are beginning to see what happens when Equity starts getting withdrawn from the Market, as folk begin to struggle with higher living costs. No surprise Institutions are placing strategic Short bets around, they see what’s coming. BOO looks to be getting squeezed on various fronts, the BoE are seeing to that. Wouldn’t surprise to see further weakening here. But GL.

‘One has to be found’….. “although there is currently low visibility as to when this might be” …also their words !

Re: PGM Stockpile, is the local refinery playing hardball as “Revenue recognised in 2021 relates to the sale of PGM concentrate from the West Kytlim mine to a single customer “Ekaterinburg Non-ferrous Metals Refinery”, being the only regional refinery, processing platinum group metals and being duly licenced to deal with precious metals “. Or are sanctions having an impact here, given status of holding Company .

Yes I too read the AR….this line, under Strategic Report, got me tho “ The Company has demonstrated a consistent approach to creating value…..”

at least the BOD retain their sense of humour!

Yes i was wondering what’s holding back selling the PGM concentrate , given they’re down to £40k in cash plus US T/Bonds, per the Accounts. The monthly cash burn must be shortening the runway fairly quickly now and without those funds coming in any Buyer will see leverage. Surely can’t just be a hedging strategy !

Not surprisingly those loans to Subsidiaries are unsecured ( being used for exploration activities) and as stated “Recoverability of the loans is dependent on the borrower’s ability to transform them into cash generating units through discovery of economically recoverable reserves and their development into profitable production “. I know how I would value those funds, but for now it my be best to just consider the actual cash on hand ….

Achieved his remit , really ….this is what he said nearly 3 yrs ago

James Nieuwenhuys, Eurasia's CEO and Executive Director: "In my new capacity as CEO and Executive Director I will continue to work with our advisers on the sale process of the Company and its world class assets, Monchetundra and West Kytlim, leveraging my relationships made over more than 40 years in the mining industry and securing a deal beneficial to our shareholders".

But guess he’s happy having extracted over £500,000 without delivering that deal and probably knowing it’s now a rather forlorn hope !

Always found it more exciting ( and rewarding) work with Cavaliers, than Roundheads !

I see Shell’s ‘Head of Renewables’ has departed having had his role either down graded or as quoted ‘eliminated’. This following their shift back to oil and gas production while paring back investments in renewables. Seems they’ve buckled to investor pressure to focus on its most profitable businesses, realising the returns of Renewables just don’t pay adequate Dividends. As reported their other focus will be on “low carbon” technologies including biofuels, hydrogen, electric-vehicle charging and carbon capture storage. Clearly their CEO knows how to spot a mirage, of which there are few bigger than that Net Zero target many Countries were bounced into signing up to.

Also let’s not forget the Saudi’s Oil production cut of 1m bpd starts in July….that hopefully will stabilise pricing to the upside.

Would love to be a ‘fly on the wall’ at the first Board Mtg should BOO get a couple of seats on it, if only to observe the heavy make-up and tawdry lads fashion on display. Time to admit defeat.

Getting the impression that many who were constantly clogging up this BB with hourly insults have burnt themselves out, perhaps thinking this was a sprint !

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Equally appreciate the feedback offered by those attending. Just amusing the amount of debate followed this AGM given we were told “no new material information will be disclosed during the meeting “. Perhaps they should have added, “but you’ll be free to make up as many assumptions as you like from the various ‘nod and winks’ given “. Irrespective will see this one to the end.GLA.

@Flash. Love you to be right, but I didn’t mention the level of Div. expected , a level at which I don’t expect will counter the political uncertainty.

Equally clear that AS will not be clinically rushed just to appease Shareholders. His team are all reasonably young, and quite rightly earning good salaries so for many with Shares & Options this will be their golden pension. They have time on their hands and good for them. No sparks yet for others.

All very good although for any Traders here they’ll likely be upset over some of the timelines given. Be nice to see the SP drop now for LTH’s to add further albeit already substantially committed.

I feel confident a Div. will be appear next year but until Fiscal and Policy clarity is made clear by Labour in respect the NS O&G, I doubt it will have any significant affect on valuation. I see POO as a stronger driver.

Likewise have been adding a few recently. Whilst daily / weekly SP movements can be depressing you just have to back your own judgement that the world & those under developed Countries just can’t cope without Oil, not for a very long time and the Demand/ Supply scales will tilt in our favour at some point. Perhaps JSO can suggest how you rebuild Ukraine having removed Oil throughout the materials supply side !

Prigozhin is not stupid, he knows you can’t do deals with a devil. His exit plan didn’t miraculously happen. A stake will be delivered thro the heart at some point, question is which of the various devils gets the stake. Interesting times for

SH’s.