Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Agreed, buy on dips sell on spikes. But with U complete and utter dog ,whilst run by SS Aka Billy no shares the great diluter and destroyer of wealth, the dips just become future spikes. 0.06p and sinking. I got out of it years ago. Do you believe it has any future?
Push, firstly may I thank you for your excellent posts. You clearly have industry knowledge and it provides much needed balance. You are however new here and many posters share a long history of missed deadlines and underachievement. If you check the SP it was over 10p. People averaged down at 4p then had to sit and watch at 0.65p. Some like me then averaged down again. I sold a pile in the early September spike and now have a healthy holding with a B/E in the low 2’s. I am now very comfortable and positive but whilst new investors sit with low b/e’s and think that George is great some of us have long memories. We got very lucky rescued by stratospheric gas prices. The fact that things are making great progress with new found competency is most welcome.
I was taking a look at Exxon. Interesting they are doing 50bn (yes billion) of share buybacks. They could literally buy us out of loose change. The questions are do they want to, on what terms and would it be a buyout or JV. If you assume that they (or a similar entity) want to it explains why the RBL has gone quiet. They are literally dripping with cash and would find it an irritant. So yes the SP is disappointing but I remain positive. GLA
The thing that I got most out of the MB presentation is that Mongolia needs a substantial increase in oil production for their new refinery in 2024/25. It follows that in that environment we will get what we need to get producing and local objections will be overruled.
STAS - True but both parties have lawyers and COPL is not large! Changing the subject in my company we have been trying to introduce some new admin processes. Focus groups, meetings, meetings. Agreed after 6 months and still to be implemented even with no lawyers! Things just take time that all I am saying.
FWIW I have been involved in mergers and acquisitions and the process is painstakingly slow. The due diligence takes ages since the lawyers drag it out and ask as many fee earning questions as possible! Any JV was always going to take time. As an example I know of a company purchase that took 15 months from start to finish with both parties literally champing at the bit to get the deal across the line.
Art thought this was a bargain at over 30 and averaged down to 24 only a few months ago. A CEO knows things we don't. He can control the company but not the market and I assume he is bound by non disclosure agreements. He is either delusional and enjoys wasting his cash or genuinely believes . I cross my fingers that it is the latter. I have my self imposed maximum if not I would be buying more. GLA
So in an open market with full disclosure Art pays $2 per barrel (CUDA) and the geniuses here think that next day people will value it at $10. Personally, I find the comments here to be mainly laughable. There is much work to be done to realise the value and it all takes time. Patience is required and in the meantime I see that many posters open their mouths merely to change foot!
A lifestyle company is one where you just keep taking money. Think UKOG. An investment is one that yields shareholder returns. Art put circa 400k of his own money (tax paid) at circa 24p into this which is a lot more than the gamblers here. He clearly believes……
I take heart from the fact that Art has invested circa 400k during the last year at an average of circa 24p. Also you don't buy assets (Cuda) for 2p and sell them at 10p next day. Maintenance is required to bring up production, plus drilling, plus RBL, plus JV ...it all takes time. I am disappointed at the current sp but believe this will come good and have patience. This time next year Rodney....
The only good thing about the sp was it allowed me to sell at a loss for CGT purposes and move the net proceeds to ISA’s for the entire family. Assuming the sp recovers the cgt loss is most welcome. Meanwhile the market awaits news. Proper news via RNS. Increased production, RBL, JV. Everything else here is hot air be it by rampers or derampers. If you expect good news hold, bad news sell.
My view remains that Art deliberately delayed maintenance to get Cuda on the cheap. You then can't buy at $2 and sell for $10 next day. The market needs the wells to respond to dewaxing and flaring. Thereafter the RBL and JV will be transformative. It all takes time and I have the luxury of patience. GLA
I dumped this at 0.2 having lost money like all LTH. For me small beer but still annoying. I see that SS aka the great diluter and destroyer of wealth continues to peddle his lies (Choo Choo, lol) and the sp is now 0.06/0.07. The BOD refuse to invest and continue to see PI's as mugs to fund hubris, vanity projects and their lifestyles. This company should be closed down and SS banned from holding a directorship. In the meantime GLA to all here I hope you have written off the money.
Oiler if you did some research you would know that once proper maintenance is done combined with flaring production will increase. Then add in RBL/ Jv…..I have a B/E similar to Art and am long. Please keep shorting.
At one stage I was down 80% on Angus and 20% on gilts. As of today I am down on neither. I am 100% out of gilts and 80% out of Angus. In both cases the investment case was sound. I am similarly down here but only 40%. I don’t care because I expect it to come good. A small holding for me. Word to the wise .After US earnings suggest a US small company tracker hedged ( the £ will strengthen). GLA
Totally agree Tygra. Management performance has thus far been dreadful only saved by stratospheric gas prices. Going forwards hopefully they will do much better. Fingers crossed for the sidetrack. Sadly they may have missed peak gas prices (I said that the window of stratospheric prices would be limited) due to their delays but even $200 per therm makes us good money.