Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thanks Rob, sounds much like the info on the 'other forum'. I was curious as to whether or not there was another source.
What is your basis for a "very positive set of numbers" please?
Doubled up at 378. When it touched 505 last week I condidred selling but decided to wait until the next Quarter update. Ah well. Wiped out everything I made since last August and big more. Frustrating
In general I find this forum extremely informative and am most grateful for those such as MrT who agitate on behalf of shareholders and bring back information directly from the Company. I would however like to say a few words on the topic of the sudden loss of the single drilling machine. I know very little about mining however I do know quite a lot about reliability, dependability engineering, contracting for availability, etc. which is the gist of the discussion regards the absence of a hot standby replacement for the single drilling machine. Fundamentally it is a cost/risk decision where in almost every case in every industry, management will ignore the recommendations of risk engineers and trade cost NOT incurred against the cost of what MIGHT be incurred if the risk comes to fruition. Sometimes management get it right, sometimes they get it wrong, often massively so, BP Macondo being an example of the latter. So I am not even a little bit surprised at the predicament that arose when a single critical equipment item failed and bought production to a halt. Saddened, cynical, disappointed, world weary but surprised, no, it happens all the time. Given that a new machine has now been ordered it would appear that management have also concluded that they got it wrong as they have ordered a replacement. Hopefully they will extrapolate the argument to other single point failure parts of the production process, but don’t bet on it. People do not like spending money mitigating risk! As to the wails about penalty clauses, liability insurance, contractor should pay for loss etc.; forget about it unless you want to add two noughts to the contract price. And spend years in court fighting for ‘victory’ at every twist and turn. Centamin management don’t appear to have been overly successful in this arena with their own government I note. Sorry, that sort of a world doesn’t exist and, if it did, nobody would bid for it, they all want to be like these companies who think they can experiment in running a railway at a profit and then give it back when it goes t’s up. Dream on. You might also like to ask the contractor how many times he has been encouraged to delay preventative maintenance just to get a little more output out to boost the month end figures. The contractor always agrees of course as its customer’s risk. That sort of mentality doesn’t do much for reliability either. Regards
Thanks for the correction regards total number of shares in issue. As for the rest of your remarks, yes I couldn't agree more. Promises, promises, promises...........
Some figures regarding 'sells'; my data is only what I have from the trades page here. Every share sold was bought (!). Since 30/05/18 4.1M shares traded against approx. 132.4M issued or about 3%. Information about trades in other markets is unavailable to us. There have been two notifiable changes in holding in recent months: 29th March 2018 Miton Group 11.79% increasing to 12.3% - +0.68M shares approx. 24th May 2018 Clients of Killik & Co LLP 8.1% reducing to 7.97% - -0.17M shares approx. None of the above suggests the significant holders are overly troubled by late release of the results (although I might be wrong, they might all be asleep) or the daily drip downward in price. Looks like, �sell them cheap enough, someone will buy them� but the quantities don�t amount to very much in the overall scheme of things IMHO. I am interested in other points of view? Holder at 7.1p average, disappointed and impatient for change but not panicking just yet.
Dow has given back less than 50% of the gain it made in the last year FTSE is about 300 points lower than it was a year ago Which, if either, is signalling a bear market?
ITV is adding to my growing collection of stocks (BT, IMB, GNK) which are generally ok for quality and value but are lousy for momentum (per Stockopedia). This will not continue indefinitely as we are in the dog days of growth regardless of fundamentals investing. At least that is what I keep telling myself..... FWIIW I doubled yesterday at 153 in the hope of turning a quick trade but not to be just yet unfortunately. Average now 178 so still some ground to claw back. Cheers.
Did you have a go? I bookmarked it to watch but fear I have missed the best of it now.
Having read the Agm notice suggest 1) -12M debt meant no distribution was permissible 2) reading 17.3M means a distribution is permissible (although I am not suggesting that it is allowed from the cancellation albeit I don't properly understand the situation) 3) there is about 1.5m pencilled in for share buyback. Happy to be corrected but not seeing any sudden windfall here - although I remain optimistic regards the potential for this share to go ballistic if the product turns into the next latest and greatest thing.
I'd love to see it! Do you have any basis for your opinion?