Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yeah - hang up and wait for the video tomorrow.
Rubbish service - same as last time.
Hopefully the latter.
Where are you from Foxykiwi ?
I am guessing any day, as they were out on 23 May last year.
Perhaps the anticipation is what's behind todays little flurry.
Onwards and upwards.
Any ideas where this is likely to get to by the time the £50m runs out, anybody.
I thought maybe £4, but just wishful thinking.
The poor guy gets some stick - someone said the other week "he has 30 stones of experience in the oil and gas sector".
To be fair - it has been hard to pick a winner in the oil and gas sector over the last couple of years. And he has dropped us from the bucket list, so maybe there is a message there.
Who knows - maybe breached this week, maybe even today.
With regards to the NAV, Tobin states the market is up 20% since 31/3. I would say the oil sector is up a lot more, particularly American/Canadian companies, some have 2-3 bagged since the lows of mid-March. And the hedge books of some of these companies is very good, particularly Hammerhead, 100% production hedged for 2020 I believe.
Listening to Josef Schacter on Market Call yesterday, he sees a drop in oil prices by July, and then by about October they should be recovering to normality. Who knows.
But while the buy back continues, what's not to like.
Sorry, X-O not E-O. £5.95 per trade and no admin fees.
Valveman - I use III, but I have just opened an account for my daughter with E-O - execution only £5.95 per trade - ideal if you are not trading much. The service seems ok.
Shoot first, ask questions later !!
Most, if not all, of those red sells are actually buys.
My point was that they have moved the ask from 7.8 to 8p. Not what I would call a "spike".
Anyway, I bought in Friday and again this morning, so I am blue on this one - the only one that is, apart from TXP.
Crazy price !!
"Little" being the optimal word !!
Dana - with regard to the selling - there are several reasons why people will sell. A couple that come to mind.
Firstly is for financial need - if you have to have money for whatever reason, it is normal to look at the shares that are in profit to sell, rather than taking a (big) hit on losers. Some will have made good profits here over the last couple of months.
Secondly, if you think you can buy back cheaper in future, then some will take the risk and sell - applies more so in a falling market.
I suspect some are thinking no news for a while, shares are falling, sell a few and buy back later, hopefully before next news. I wish I had, not just TXP either, but I suspect no one really saw the bloodbath coming to the extent it has.
Mine is continually loading so I am listening on the phone - poor sound quality though.
Anyone else having problems getting connected?
That's a nice but just gone through.
I am a big fan of Josef Schacter - early last year TXP made his Top Picks on two or three occasions. His sp prediction was 50c short term and $2 over the cycle, but, that with drilling success it could be anything. He has taken a bit of a slating because some of his tips have performed poorly, but that is because of the Canadian market as a whole, which has been decimated. Hence, he is a bit reserved - he is a holder and that is good enough for me.
Others have talked about Shell coming in and trying to pick us up on the cheap - I cant really see them acting without the approval of the directors, as it would upset the applecart too much. I hope there is no offer until we have proved up Chinook and Royston and then we will know something like what it is all worth.
My opinion only.
Also, I believe in a hostile takeover situation, the offeror would go directly to the shareholders, and bypass the company.
But this is all irrelevant at the moment - we have a fantastic asset, with plenty more to come over the next few months, then we will all see where we are. Bring it on !!
You are wrong in your comment about takeover. Its ludicrous to say that a shareholder could get to 30% and then we would all have to sell at the highest price over the last 12 months.
If a shareholder gets to 30% of the shares, they are obliged to make an offer to take over the rest of the shares. Its up to the remaining shareholders whether they accept the offer. There are plenty of companies with a majority shareholder over 30% (I think the shareholders have to agree to a majority holder owning more than 30%).
This is a game of patience - they know some will get bored and decide to sell up and move on to "greener pastures", so dropping the price now and again causes a bit of panic, and tempts some to sell up.
Ultimately this is a long game, but the rewards look to be very substantial, IMO, so best ignore the daily fluctuations.
Remember what you own, and why you own it !!