Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Sam, I agree with your thoughts on this SP. It's very irritating that there seems little reason for such market drops as we have experienced recently with TMIP. However, part of these drops has been caused by going ex dividend and also the issues with the restrictions on vessels passing through the Panama canal. In addition I am a tad cynical over the seeing ability of some large commercial investors that try and at times do succeed in apparently manipulating some SPs. A deep breath is required and wait patiently whilst I hope to see some sense in the SP.
Hi Kristy & Sam, overall I felt positive news, as you say now sold the Chinese vessels, we have yet to see the cost savings come through and the dividend is unchanged. The only fly in the ointment is the reduction in NAV which knocked the figures a tad. Debt reduction is ongoing and I was pleased to see that they they expressed the desire to continue on below the 25% . I suspect that the next quarterly report if positive could we’ll mark a turning point here, let’s hope so.
Fascinating reading, thanks for highlighting that Sam. I never appreciated how much small things like propellor boss caps could contribute. I was reading an article this last week, may have been the Guardian but they were discussing cruise ships and the ports complaining about pollution and the lack of income from so many cruise guests. The ports were unhappy with ships that had fitted scrubbers to their exhaust saying that polluted the waters and were unhappy with LNG as well. Need to get some experts on this to agree or disagree with the various claims. Whilst writing this does anyone know why someone would sell a single share?
Thanks Sam and Mike, sage thoughts as always. This morning SP up over 4% but only 4 shares bought with no sells, weird?
What’s spooked the market today guys? There are a handful of buys but 240000+ sold. I can’t find any news anywhere.
Hi Sam, would you give me a link for tradewinds please? Have tried to search but not the right results.
Great to see, have to say my patience has been tested recently with this SP but at last things seem to be improving. I was very pleased to see two cargo ships dock in Ukraine for grain by using a different route to that used before. I have doubts about the next dividend I am expecting a reduction but fingers crossed my doubts will turn out to be ill founded.
Thanks Mike, you have a much better grasp of the situation here than myself and I appreciate the way you set out the case for the future. I personally see some more downside to come on the SP, China as usual stirs the pot and it’s not always an appetising smell that wafts our way. A further deep breath required I think and hopefully things will be clearer by the year end?
Hi Mike, any idea what is going on with TMIP please? Some big sells gone through today but after yesterdays announcement from the Chinese that they were taking measures to improve their economy and the reasonable start to the SP this morning have to say this is one of my most frustrating purchases inn many years.
This SP is strange today, 15,000 sold and 300 odd purchased but the price is up. The other day it was the reverse, any ideas what is going on?
Great information, mind you there are some large sells going through this morning , wonder what is driving those?
Thanks Mike, great information, much appreciated.
There were some good steady buys today, but who buys a single share, the cost must be prohibitive?
No need for apologies, as I mentioned it seems positive news but the global situation is one of turmoil. Out of all shipping companies TMIP in imho is better placed than most but I think it will be take a deep breath and hang in, I do have faith in the board but would like to see both companies joined to really get a grip on the potential savings.
Yes, agreed the accounts are complex but like you was encouraged by the charter rate being beaten and the dividend cover. Not sure what the next dividend would likely be in view of reducing debt but buckle up for the next 9 months.
Thanks Sam, that’s reassuring but disappointing that they never saw this issue coming and it gives them a black mark for not following their own guidance regarding the date they would be issuing the accounts.
I think with all the speculation with this company and the ever sinking share price I am rather disappointed that they never released the financial statement first thing, have they got some bad news to tell us, I really hope not. Fingers crossed that my scepticism is misguided.
Yes, I saw that and got a bit excited but it did little to the SP. Just hoping this week brings some good news, it’s so frustrating to see a company as this producing profit but such a huge discount to NAV.
Thanks Mike for a great analysis of the situation, I found the RNS encouraging when you read the report from Harvey Dorset one could be forgiven for thinking this was about another company altogether. A shame there is no “report post” button.
So what caused the big drop from £1.30+ to £1.23 then, any ideas anybody or is this another smoke and mirrors achievement by the city wizards?