Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Having seen the deal PMO ended up, I would prefer we stayed as far away from Chrysoar as possible. The institutions would sell their Grandma for twopence and you could end up with a fraction of our real value!
Not sure if this has been posted. Apologies if it has. Makes mention of Serica.
https://uk.finance.yahoo.com/news/big-oils-selling-spree-might-132851123.html
You may well be right but I can currently sell 20,000 at .9813p. So what is the point of the multiple small sells. They certainly don't achieve the best price which you would have thought any seller would want. So what is the motivation apart from artificially depressing the share price. You have to ask yourself to what end!
Lord knows what was going on yesterday with the huge flurry of small sales, but basically we are now back where we were a couple of days ago. My bet is still on a takeout in the near future but would love it if SQZ can find a suitable acquisition!
There have been consistent large after hours buying over several weeks now. usually in blocks of at least 300,000. Today, we had the usual 300,000 + buy after hours together with a lot of others totalling over 500,000 after hours. Something going on!
Cairn will shortly, when the Senegal sale is complete, be a cash rich North Sea oil producer looking for acquisitions. they will have $600m prior to a special divi to shareholders of $250, Leaving them with $350 to go towards buying producing assets. Cairn currently has stakes in Catcher and Kraken and is producing 20,000 barrels per day from those assets. Serica would look a good fit and a tempting target.
If anyone is eyeing Serica, the window of opportunity may be closing fast. Management of the company must be in lots of data rooms looking at potential acquisitions themselves and once they make a move to buy, they cease to be such a tempting target, at least for a while. Will they be buyer or seller. The longer this goes on the odds shorten on the former!
Hi Londoner. I am new to Cairn and decided to invest a modest amount today based on the Senegal news. It gives a nice payout to holders whilst, as you point out, leaving a good cash sum which if invested wisely in producing assets could set up the Company with at least double current production. The one big unknown of course is the arbitration case. How do you, and other investors assess the likely impact of this based on a best, worst and likely scenario and what impact could each have on the share price? My own finger in the air suggests a potential doubling if it goes for CNE, a 30% drop if it goes against, and perhaps a likely fudge that gives CNE a 20% to 30% increase. Pure guesswork of course!
I am hoping the Serica Board resist any offers for the Company for at least two years. However, I suspect we will be a target and I am musing about the size of any potential offers. Unfortunately, all too often UK oil companies seem to have been bought out on the cheap (the management often lured by well paid consultancy or board positions in the new company). i recall my experience with Ithaca, Faroe and others where I was left feeling underwhelmed by the eventual takeout price. I hope our management show a bit of backbone and do not sell out too cheaply. The current undervalued share price doesn't help and, if there were an offer tomorrow, the Rockrose experience suggests it's unlikely we would see more than £2 a share. A fair offer, in my view would be much closer to £2.50. preferably none of this happens and SQZ continues its remarkable growth as predator rather than prey!
I find it hard to see any negatives with Serica. If nothing else happens I can sit on my shares and be reasonably confident just with existing projects and future known increases in production that the shares will likely at least double in the next couple of years. In the meantime I will get a 2.5% or 3% dividend minimum each year.
Alternatively, the share could be taken over tomorrow at double today's price. However I am sure Serica's management are not sitting on their hands. They will be busy looking at all the North Sea prospects currently up for sale and, if the past record is anything to go by, if they do any sort of deal it will be a cracker and give a further substantial boost to the share price.
I have looked at most North Sea energy producers and quite frankly can not see a better place to invest. We are on an exciting journey and I can't wait to see how it all transpires.
Yes, I also like Rockrose and it is my second largest holding. However, I see it as more dependant on doing a good acquisition ans without that is more likely to languish than SQZ. With a deal it probably has bigger potential (in terms of share price appreciation). So somewhat more speculative but still a buy.
A lot of negative comment on this board recently. But personally I love this stock! A good dividend, substantial organic growth just from the projects currently in the pipeline, and, as a bonus, the very real prospect of big new deals that could see us catapulted to new highs - all in an stable political environment. What is there not too like. Show me a better oil stock that combines safety with massive potential.
If Serica and Rockrose are to merge, now would be as good a time as any. The synergies would hugely benefit both companies and the £400m + joint cash pile would enable a big buy of new assetts without incurring significant debt. The shares are trading at a convenient ratio of almost exactly 10 Serica for 1 Rockrose, so very easy to transfer to shares into a new company. We all know it makes sense!
Serica could soon be approaching all time high levels - remarkable in these markets. I suspect it is being 'walked up' as a prelude to a bid which could come in at about £2 a share, valuing SQZ at something in the order of £500m (sounds about right).
https://uk.finance.yahoo.com/news/oil-price-crash-3-top-064251735.html
Serica is 80% gas production and gas futures have, unlike oil, been going up. We have been marked down with the whole sector but for me the stock is a screaming buy. Can't wait for the bounce that will come with the finals.
Some very strange share price movement in both Serica and Rockrose in the last half hour of trading yesterday. SQZ suddenly went up 7% and Rockrose declined about the same (against the general up trend for oilers). Odd, to say the least, and may signal some sort of corporate action is imminent. I will be up early Tuesday to see if my reading of the tea leaves has any foundation.
If the USA does end up imposing tariffs on Saudi/Russian oil as a means of protecting the US shale oil industry. What are the chances the UK would follow suit to protect what is left of the North Sea energy industry. It still employs a lot of people and is an essential component of the Scottish economy. I would hope we would follow the US but not sure.