Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I took what pittance I had left in this share yesterday. 250k shares which I once had big hopes for but I'm sure will now be worth zero within 12 months. It has been an absolute horror show this share but wish all the people that hold hope here the best!
1.4p :'( and that's down from over 2p at one point.
It's tempting to average down so if something does happen here then I haven't got as far to go but I don't want to chuck good money after bad so probably won't.
The 800k won’t go very far and I really can’t take any more false hope with another potential asset. I’d rather keep it in the bank and use it down the line if we need to put anything else in towards suring up the Colter South saleability. Least that definitely can provide some upside for us if it’s commercial as we have nothing else going for us now
Same as what I’m doing. I’m holding on as it is not worth bailing out for the pittance I would revive. See if we can commercialise what we have first. Following the Vox podcast I actually do expect them to sell it down the line if everything is proved up but I don’t think it’ll be enough to recover the share price and reputation here significantly.
Although this is obviously quite disappointing news from Colter North we do have to remember that Colter South has the potential to be commercially viable, with 15mmbbls "exceed[ing] the threshold for commerciality" (UOG RNS). Obviously, we need a buyer and further evaluation on the finding but time will tell whether we can rescue something from this, albeit a long shot. I'm staying put because the money I would recover from selling now really isn't worth rescuing. We've taken a double hit with Badger news today (which I had mentally written off already). Only time will tell if they can rescue anything from the commercially viable Colter South discovery, but I'm staying in with the hope that they can and if anything does come from it I think it will be thanks to the partners rather than our cronies. Any future projects announced by ADL I will very much take with a large pinch of salt. Worth noting that UOG and RBD are a bit more upbeat than here with regards to the Colter South potential but they haven't had quite the recent ride that we have.
Good luck on your next venture to all those cutting their losses today. I'm sticking around for the ride with everything crossed!
You still have time to get in before we go TO THE MOOOON!! ;)
My honest opinion is the same as most here, 2 potential rises. 1 when results are confirmed and the other when its sold. All assuming the best case scenario of course, which I am hoping for.
100% agree, but my point is that Colter is far more of a commercial prospect in 2019 than it was 30 years ago due to these factors. We just need the results.
Non-commercial when the price per barrel of oil was just over half what it is now (accounting for inflation) and when Colter South was unknown. Surely now it is very commercial with the infrastructure there, extra discovery and the current price of oil?
Ermmmm, potentially Colter... Not everything can be a success but if we get here what everyone is hoping then £6.5m isn't too bad is it. Can't win them all but if the ones we do win outweigh our investment then that's good for me!
I did the same yesterday. Halved my average with a modest investment compared to what I already have in there to a level where if Colter comes good I will actually have a decent reward rather than little to none. To me, with the potential here, it was worth the risk/reward as after all we know for a fact that there is oil in Colter, it's just monetising it.
Spot on. RBD are obviously the closest to what is going on here and they paid up straight away so that to me means they have to be pretty confident. Even if people have lost faith with Simon et al here there are a lot of other companies with vested interests in Colter with more experienced BOD's and their success, by proxy, means our success!
I have taken the opportunity to average down. I am a LTH at a higher price but I have managed to half my average with a modest investment to a level where I feel any Colter success will see me in healthy profit. There can't be much more downside here based on what we know about Colter. With the potential of a couple of other opportunities on the horizon, for me, it is worth the risk when weighed up against the potential reward. We've all had a disappointing couple of weeks here but all the other Colter partners seem upbeat so we should be looking forward to the drill results as well and make the Bunga farce a distant memory.
GLA
Very crafty by the drill operators I think. Killing 2 birds with one stone on the same licence which will save money, time and opposition pressure going forward. A very convenient "accident".
Looks like they've played a blinder to me! Just need to firm up the findings and we should have a nice rise here.
Thanks Miker - I was using the wrong barrel count! That makes me a lot happier!
Fingers crossed until news then as I have been waiting for something substantial to come from ADL for a LONG time and it feels like we could be there soon with Colter as there are plenty of other interested parties.
GLA
So do you agree that the sellable price would equate to around $12m (£9m) to ADL based on $15 a barrel which is around 4.5x the mcap at the moment? That would give us a SP of around 2.7p - 3p (rough figures). Obviously, other factors could increase this but solely based on Colter that's where I get to. Happy to be corrected though if my maths are out and people can see it going higher.
Surely 1.5p - 3p is much more likely on Colter success than 5-6p, purely based on the fact that the asset is likely to be sold and any buyer will not pay $55 per barrel to buy it as they will have invest in the site to develop it to production. I am invested here at a much higher price than what it is now (like most) but we've got to be realistic about what to expect if there is a saleable asset.
Very good acquisition for C21 don't you think?
So effectively 11p share - 7p divi = 4p per share to buy in effect. Is this correct? If so bargain surely!
Sorry I'm new to this so pardon the noob question but with a 70% dividend at current prices would that mean if someone invested £1000 they would receive £700 payment come dividend payment date? Surely this has to be wrong?..