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I agree that it's an incentive, my point though is that with it being linked to the share price performance, it also links it to investors requirements and not to other criteria such as length of service, production levels, attendance etc. or other points that many companies use to incentivise staff. It would be nice to have a little more detail as to how they will allocate to what percentage increase in SP.
I believe this to be a very positive move. It appears to be to all of the staff, with around three quarters being allocated to other than out two senior directors. As it is based on the share price performance, it indicates that they are as concerned as all investors of the need to promote a higher SP. Does this also indicate that there may be advanced discussions of a new deal underway?
Hi sasa, Even without another aquisition we shall role into 2022 with some very attractive production figures when 100% of production becomes ours. I'd guess that even if oil and gas prices don't improve by then, SQZ will look at enhancing the dividend making it more attractive ti II's and therefore boosting the SP.
With 20/20 vision hindsight, had BP undertaken this re-entry, then the deal would no doubt have cost us more, but we would be drawing more right now.
Ironic that when we do begin to produce from that well, BP will only have a few months to draw their share of it's production and I seem to recall that they do still pay their proportion of the drill cost. Again if my memory serves me correctly, this well will be the most productive of the three, so along with Colombus production, we shall enter 2022 with very healthy figures, and hopefully even lower production costs.
Onwards and upwards!!!
At this point in time, it does appear that Havieron is the only part of our company that is valued. Scallywag, despite all the expectations, has no proven gold until it is drilled. Should it prove to be as riddled with gold and copper, then a value will be added. On that basis, Firetower should really be already adding to the SP, as the drilling their both historically and relatively recently, has shown some very good gold intercepts at reasonably shallow depths, admitadly not the volume that Hav is proving to be.
Magic by name and by nature, it is amazing how this BB attracts such a high proportion of investors who are prepared to share their knowledge. Have been investing myself now for over 40 years and find this board (with a few exceptions) the most civilised of any. Thankyou Magic, and all of you from Paddy down who share your technical knowledge.
IF, I accept that all options are open to any plc., if it does get taken out my preference would be after we achieve 100% of BKR, as by then we should also have Colombus and Rhum3 adding in to the cash flow. Their is also the possibility of Eigg hitting a successful drill, maybe only North but with a good wind maybe South Eigg as well.
MFU, I'm guessing that you started buying into GGPa at less than 2p, so today's sells for you (assuming that you had 300,000 at that price) are four to five baggers at that price. So no need to beat yourself up about it, you still have a nice healthy holding to sit on till we hit true value. As a fellow inhabitant of the red rose county, I am intrigued to know just where in our glorious county is the village of Uraguay
Very well spotted. Hope that this will now mean that Colombus doesn't have to suffer the delay mentioned in the results the other day.
Oil prices are also firming up and as we appear to be affected dissproportionatley when they drop, am hoping that the opposite applies when they rise.
This has to be connected to GGP. I personally hope that it is the aquisition of only Havieron and that leaves the rest of the licences to us. Maybe with a first refusal linked to any more finds that we make. Fingers crossed and good luck to all on here
Tiggerman, Very many thanks for sharing your phonecall and your thoughts. As you are one of our more respected posters on here, I am sure that I am speaking for all of those of us who very rarely post. Truly exciting future for all holders!
Hi NewKOTB,
It will be very interesting to not only hear their questions but also the tone and direction they appear to take, and yes, hopefully one will have broached the subject of the main market. Admitadly costs are higher but it isn't as though we are short of that and it would give a higher profile.
Hi NewKOTB, I believe that there will be a recording added to the site of the conference call for analysts which took place immediately after the results on Thursday. I believe that there could be some very interesting questions and answers in that and the tone of the questions may give an indication as to whether there could be added II investments. Hopefully that will be added quite soon.
Hi NewKOTB, the TLW increase is due to them just having sold their Uganda interests which has meant an input of $500million, which will reduce their debt by that amount followed by a further $75million. I did have shares in them many years ago and sold out at over £13 per share and look where they are now even after today's increase. Isn't it nice to have shares in a debt free company?
Hi chinch, looks as though we have similar thoughts about this company and I do like your assertion that we can "cherry pick" any deals.
As for the divi payment "delay". It first has to be passed at the AGM and that date appears to have already been selected. Payment isn't too far behind that and I do have shares where payment date is much later after AGM. The bonus is that even at today's income, the bank balance by then should have increased sufficiently to cover the payment, leaving what is already there intact, bearing in mind that the £102 million was at year end.
Hi NewKOTB, couldn't agree more with you that we are in for an interesting period. None of us know just what that future will be which is why we all have to use our own judgement as to whether we are comfortable to be invested here. Whichever way it goes, either aquisition or being aquired, I believe that the SP will be in advance ot it's current price.
Take care and stay safe
Hindsight is wonderful, but it proves that our BOD have maintained their prudent outlook throughout last year's more profitable environment.
I wonder whether any of those bids that were proposed by SQZ and declined, may now be re-visited. If so it will give SQZ the opportunity to change the structure of any deal in our favour. The wording indicates that those offers were to some of the multi nationals who may now be much keaner to divest some of their licences under the current climate and were possibly structured in a similar manner to the BKR deal.
The lowered cost of production is even more impressive in the fact that they have identified a further 10% cost saving, meaning that we are still making an acceptable profit on production. The hedging on gas prices also shows just how much forward thinking has been excercised along with prepayments till the end of 2021.
The appointment of our new director in today's climate could be quite fortuitious in that with her previous positions, she will have many useful contacts to enhance her experience in this industry.
The divi announcement confirms the confidence of the outlook. However that has to be balanced to a certain extent from my perspective of the delays of Colombus and Rhum3, Colombus for reasons out of our control though.