Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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How about the isles of Jersey
Rumblefish
Surely the UK is no longer a colonial giant,
The Falklands war, And the heroes that fought who say that after 188 years that we sure look for a truce
Maybe we should start with a day where former British soldiers and Argentinian soldiers could meet on the Falklands
The British government at the Argentinian government go to work this thing out
Maybe we can give them the Isle of Wight
And we keep the Falklands
Rumblefish
Mr market maker
Value’s BOR at $30-40 million
Probably works for the largest shareholder
I noticed the trading volume on BOR has increased noticeably since the new year
We all see there trading their holding (BOR)
A few times a week
Let’s see what there thinking about
Rumblefish
The board of directors had there chance
2010 Oil prices we’re moving up,
2012 Darwin east Wildcat
2015 price of oil was at $100 approximately
What were they doing between 2012 and 2015
Darwin east is a priced asset
Lucky they didn’t find some half assed investor
Like premier that ran out of money (in 2016-18)
Oil prices are looking at moving up in next 18 months
Darwin east can’t stay on the shelf much longer
We are in a commodity business
Like I said before
Cut costs find a buyer
Rumblefish
Mr. market maker
With all your accurate information
Give us a valuation of BOR for buy out
Unlike Rock (RKH) we don’t have any Partners like Premier and soon NAVITAS (leaving RKH with 30%)
BOR and the board have 100% of Darwin East and Licences Adjacent
Anyone looking at BOR, has to be moved to make an offer for the whole company and all their Assets ie takeover
So what do u think
BOR buyout
Company valuation please
Bet you don’t respond
Rumblefish
Never negative about BOR
NEVER ever
But cost cut has to come now
Can’t live on Richmond Hill and eat spam every night
Rumblefish
So all the board of directors took a pay cut
35% as of June 30th 2020
Also 25% Targeted Reduction in overall expense
What does that mean!
There moving Out of there Plush Saint James sq
Corporate office to something cheaper
Why are they looking at just saving 25%
Should be 50%
Running out of cash
$3.7 millions as for December 2019
As of today they maybe running out of ideas
They should’ve taken care of finding a partner in 2010 the discovery well Darwin East
Everything is way too SLOW
Thank you for the 35% Pay cut, I think it should be more!
Need at least a 50% cut in overall expenditure
Rumblefish
The price of Brent oil went from $20 to 45 today
It may keep rising
We hope that the Saudi‘s and Russians and also OPEC + Stick to the Current deal
Rumblefish
I think we’re at the stage where A Farm out partner
It’s out of the question
We have to look at a full take over
And I think the pricing is going to be low If we’re lucky
Rumblefish
I don’t think the directors have that kind of money
To buy out BOR
Rumblefish
Problem is medium to large size integrated all companies have been borrowing so heavily to buy back their own stock and pay dividends to the shareholders
These are the kind of companies were looking for to farm out with
Most these of these Companies don’t have the money
I read the 1/2 yearly report
Surprisingly “bullish”
Without Substance
Rumblefish
There number to anyone that is interested
0207 661 9348
They don’t say much
But state your opinion
Rumblefish
Call them
They don’t say anything if u we’re to call, but you can state your opinion, in a nice way
Expressing that the company has 3.5 years of cash left for just on going expenses
What is there plan B
Rumblefish
Well I’ll tell you what it is
To raise 7 million Pounds
Would require the Board of Directors to sell to private investors or institutional investors at least a number of shares that are in circulation today
I don’t know how many shares are in circulation as of today
But if they manage to sell all those shares again
We as shareholders would be diluted by 100%
Rumblefish
Please don’t talk about raising money Through the company selling more shares
It just dilute What’s down
The market cap full BORS 7 million pounds
Just for the Board of Directors to raise another 7 million with dilute us to well can’t do the maths
But very low
Rumblefish
Their position to Negotiate gets weaker as every day passes should’ve done this 10 years ago
When we discovered Dawin
Rumblefish
Been a shareholder over 10 years, before that was a shareholder in dana petroleum and sibir energy
Put most of my Gaines In bor
Bought just like u guys at 72p...Around about thatAs a share price fell I average down
To approximately 29pTo break even
Hope something happens the Board of DirectorsSeem like Tough people to negotiate with
They have to get a deal and quickly because we have approximately maybe three years left in cash to support just administration costs
Rumblefish
To correct you....$14.6 million US....at June 15 Today it would be lower day...