Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Can’t really argue with any of that. The Holmwood placing was unnecessary albeit it was for a relatively small amount. The recent placing stinks. To continue to dilute and trash the sp from 8p down to 1p takes some doing.
Arrogance and a massive ego are what we are up against. Who the hell would invest here when the only prospects are more dilution and an even lower share price. The man is a liability.
Anyone genuinely invested here would do well to read Sagemans posts.
To dilute to the extent that Sanderson is, in order to acquire assets which, without any substantial revenue (EWT oil revenue only) will require further dilution to develop those assets, shows he clearly has no regard for shareholders interests.
Unless he knows something which will blow the socks off this sp in the short to medium term, then he is demonstrating his financial incompetence.
The time for blind faith and optimism is gone and something needs to be done.
The question still remains. A £3.5 million placing was for new acquisitions and opportunities but we spend none of that on a new acquisition and dilute further with more shares. So the wording in the RNS was a lie. Have I missed something?
DHC, I think a lot of the points you make are valid, and I also hope that if anyone is able to get to the AGM, then those points are put to Sanderson. As shareholders we do deserve to know why, on nothing but positive news we have seen a persistent decline in the SP.
Being a long term supporter here, it is getting harder and harder to defend the CEO,s strategy.
Daltry, I doubt anyone is happy with the dilution, and I would hope no more until at least we are officially producing oil, which could substantially reduce the need.
However, those that continually complain about the dilution, never offer up an alternative means of funding. How else does a company in its relative infancy grow. How would the company have got to this point without the issuance of more shares to provide funds.
Im not saying all the fund raises have been great, especially for the pi’s who’ve suffered as a result, but what were the alternatives? Suggestions?
Daltry, you clearly have absolutely no understanding of how AIM works. (Or maybe you have a very good understanding) AIM rotten to the core, agreed. AIM designed to fleece the small investor and line the pockets of those with money and clout, all in the name of being a mechanism to assist small companies to grow. AIM and the II’s will play on PI weakness which is mostly impatience and then greed. I won’t insult you by quoting Warren Buffet yet again. Rainbow chasing in the hope of quick profit (RMP recently) although if you’d bought in at 1p and sold at 7p you’d have done well.
Every decent share on AIM will go through this same process where the SP will get dragged down to rock bottom. It’s happening at GGP. That’s why the powers that be won’t even consider banning shorting, because it would even the playing field and make it so much harder for the big boys to make their money.
Many are down on this now, more than will care to admit, but, for the patient, it will rise and will provide a very healthy return. The fundamentals will at some point kick in. Assets, revenue, reserves cannot be ignored forever and true value will have to be attributed. It’s just a waiting game.
Unfortunately this BB is barely fit for purpose, inundated with those with agendas, and we all know who they are. But thankfully there are some excellent posters who do take the time to promote the facts.
Anyone with any doubts should read the last two RNS’s over again. GLA.
We need the CPR. Isn’t that how an oil company is valued, on its oil reserves. Rigs and tankers and planning permissions will spike the sp and then it will drop again waiting for the next event. The next anticipated news.
No denying it, the SP is a disgrace, with an 18 month downward trend for various reasons. The responsibility now lies with Sanderson to get it going in the opposite direction.
Penguins,
More negativity on something you’re not invested in, unless of course you have an agenda. Some say you are a disgruntled resident.
When planning it is prudent to overestimate, in this case, tanker movements. To underestimate, and then over produce and fall foul of planning regs would be rather stupid. Don’t you think?
A price movement of .001p, ie from .013 to .014 on a 1 million share trade gives a return of £1000.
Taking into account the spread and the fact that there aren’t that many 1 mil trades, are day traders actually making any money?
Bearing in mind this acquisition hasn’t been completed, although as stated it is ‘legally binding’, and presumably the new shares haven’t been issued yet, are we saying that these are being forward sold. And if they are, is it permitted?