Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Nice one eviking, I'll have a read.
I was beginning to think no one was here anymore.....
Still watching....
@ DrillbitBill - Just like any other publicly-listed exploration company with no income there is absolutely nothing at all to stop these companies raising cash by issuing more and more shares time and time again until they hit pay-dirt and start generating their own cash.
If HE1 don't make a commercial discovery in the next 2 or 3 drills or until they run out of working capital then they have no choice but to fundraise again, same as they just have.
Fortunately for us HE1 holders they are still under a billion shares in issue and hence SP still over 6p; there are other companies I could mention that have many billions of shares in issue and their SDP is fractions of a penny.
All any of us can do now is hold and hope, at least until spud is announced and gets the SP to a point where we can sufficiently de-risk or exit completely for the sake of our sanity.
I know if I'd posted what the MF article said I would be accused of de-ramping.
No one knows what the SP will be post-drill, especially if HE1 have a discovery, but an article like this unhelpful at best, potentially damaging at worst as some more likely to believe it than posts on this BB.
Just what we didn't need.
@dai2belts - good to see you are still lurking here, me too. As you say, so much fractious nonsense appearing here just lately better to keep our heads down and wait for confirmed news and proper research - hats off to Skittish by the way, the depth of his digging is beyond me!
Just topped up 57,000 @ 6.789 to average down and looks like I got my timing spot on, for a change 🙂
Excellent summary Keith. I know very little about drilling apart from DIY jobs and they can be tricky enough!
Drilling for gas, oil or whatever even more impressive when you consider all of this is happening 100's or 1000's of metres below ground, no wonder exploration is so expensive.
The more stocks I watch and trade the less I think I will ever understand what is going on!
Never ceases to amaze me how 'good news' or at least no bad news can bring the SP down - at this rate we should be around 6p on discovery! Literally nothing surprises me any more.
Hold and hope.
The last buyback update was 19/07, there was no update on 20th, 21st or this morning.
I can't see any mention in the trading update from the 18th to say they were stopping or suspending the buyback.
At the last count (19th) they had bought back a total of 17,341,033 shares at an average price of 269.9963p per share, and spent a total of £46,820,141, so they still have a little over £28M left in the buyback fund if they deicide to continue.
Maybe now the EY Report has given them a clean bill of health and the SP has recovered significantly there is no need to continue with the buyback. It's all over my head I'm afraid.
Good luck all.
LDG are continuing to buy back shares but the SP is slowly falling back towards 14p.
I'm thinking lack of interest from investors and economic worries are all playing their part here, but whichever way you look at it the buyback isn't having the desired effect.
It isn't going very well, is it?
@ ShortWhacker - sorry, I have no idea, I simply take the volume and average price paid from each days' buyback RNS and pop them in a spreadsheet, and use that to calculate the total bought back, average cost per share overall and total spend.
No idea if this info is useful or not, but at least feels like I'm contributing something to the BB.
I always though DM was a good guy, but like all Directors/BOD's/project leaders/public face of the company he got a 'bad press' when things didn't quite go how they should have or how investors wanted them to.
Sadly, things don't always go how we want them to just because we want them to, there are too many influencing factors for life to ever be that simple.
Better luck this time, looking good so far.
... is why they spent the last year, a whole 12 months, NOT buying the rig that was up to the job and passed the audit a year ago?
Is this the rig that was stuck in Kenya and there were red tape issues getting it shipped?
What changed?
Hard to fathom why they didn't source and buy their own rig right from the start, shame they had to spend/waste millions to get to this point.
Hope it all works out from here on in.