Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I cross my fingers for the success of the sidetrack but watch in dismay as the price of gas fell 11% today. I hear what you say Push but GL is over a year late and has cost LTH a fortune due to incompetence. People can check my posts. I said there was a limited time window of stratospheric gas prices during which we could pay down debt and have been proved correct. The £1 party turned into the 3-5p party. But still good for new investors.
You really have to hand it to SS aka Billy no shares the great diluter and destroyer of wealth. He never fails. Look at the sp over pretty much all periods and he has managed to achieve a loss. I got out at 0.2 a level that most holders would grab with both hands today. SS is a walking four letter word. I keep this on my radar .. just in case but with SS at the wheel this remains only fit for traders. It is 100% non investable - hey Sando you **** “choo , choo”!
Knw777, the main positive that gives me hope is Art’s B/E here is over 20p with his trades last year of circa 400k. On top of that Cathy reminded me that he held a load prior to the 100 to 1 consolidation. He has more skin in the game than 99% of all posters here unlike SS at UKOG. Art clearly believes the question is whether he can deliver.
Barclays fell due to past misdeeds costing them. But analyse the figures and their income from current accounts has shot up due to base rate increases. LLoyds has fallen on sector weakness but we have billions in current accounts and there is no recession. Since the banking crisis we have had awful low interest rates but not now. I am in profit on Barclays and LLoyds looking forward to a good 2023.
Push LTH posters here have witnessed GL's missed deadlines , capital raises and excuses for some time. Most have learned to trade it, average down and decrease exposure whilst still hoping. Looks like you have joined the club. In the meantime gas is at 135 with serial incompetence resulting in us missing the period of stratospheric prices that would have been transformational.
Banks like rising interest rates as long as it doesn't overly add to bad debts. Bought more at 171. Litigation issues are historic. Moving forwards higher rates = more profits. Buy backs will support the price as will the dividend. Typical short term over reaction IMHO. GLA
The issue is that the POG has fallen dramatically. The mismanagement of GL and his missed deadlines (a year late) have cost us dearly. We have failed to capitalise on stratospheric gas prices. They are falling day after day.
With respect educated guesses, always sympathetic to the company and offering reassurance so people held. Meanwhile Push was trading and the SP falling. in the meantime Gas prices are now circa 80% lower than when Liz Truss was in power and GL has missed the window of stratospheric prices for our unhedged gas.
I had some corres from Cathy last night. She said that RNS was written by the FCA and they were responsible for the timing of the release. She said that COPL has not defaulted. That the weather in December in January caused the RNS. That funding is progressing as are dealings for both the RBL and the JV .
She said that everything state above has been fully disclosed other than that the FCA wrote the RNS and released it.
30 years ago a board member at a bank told me that they made their largest profits on current accounts due to paying no interest. Rates are rising and I have never forgotten what he said! GLA
I looked at a payslip for a 32 year old on 30k. For income over 17k his deductions were 20% income tax, 12% NI, 9% student loan and 5% auto enrolment. So 46% deductions with mortgage, food and a family. In contrast on income up to 50k an OAP pays 20%. So wrong . Then triple lock. Why? Politics!
Like many others I am astonished given Art’s interviews and purchases. I thank god that expensive lessons when I was younger mean that I never invest more than 2% of my portfolio in a single company. I am so sorry for the guy with 60% of his Sipp invested here. Tomorrow is a new day fingers crossed for better news…
Investors here would do well to check out Clifford talbot wholesale price of gas. Currently down over 75% from peak and showing large falls in the last month. It is why I am so angry about missed deadlines. It is also why the sp is struggling as the premium on top of the hedge falls on a daily basis (combined with sidetrack delays).