Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Past experience says that pessimistic timescales are more often right than not! Hope we might get a slightly different experience with Wressle as to give Egdon some credit they seem to have won over the local community (see country file report) and it’s a site that has shown to the various authorities that it is well and safely operated. 🤞
@itsawrap. WH recently said 4th quarter this year. Now I haven’t seen Egdon come close to a single target date (!) but why do you think there will be a year delay between granting planning and drilling? Aren’t the EA applications (which seem to be one of the big delays) made concurrentl?
@Leafie. Yes you’re right, last specific one of these was issued in November covering the end of the technical study. As I understand it the monthly report backs were based on the initial project plan timings to keep shareholders informed on progress. While some criticised them because they did not always contain new information (they were only meant to be project progress updates), it seemed a good way to communicate work in progress imv. Hoping they may do something similar again once the drilling project plans are published.
Every company is a bit different in use of rns’s. UPL has a history of announcing formation of committees (see most recently technical committee rns on 18th Sept). They seem to use it as marking milestones in progress for shareholders and indicating what they are now working on. They clearly feel that the level of interest they are getting in terms of investment from other parties now requires this particular focus. Reasonable to argue that the rns is in part about internal processes, but this update also has market implications.
Well if they were really that Pleased to tell us I doubt they would have put it out on a Friday! Presuming the 3 year element is meant to be some kind of lock in, so they would lose options if they leave positions. Timing seems crass, but maybe it’s to do with clearing out old options etc before end of year (Jan 31).
Another company I invest in has Directors options and they continue to buy on open market - so let’s see what happens here. At least share options when redeemed, put the money into the company rather than the MM pockets.
You are right - it is very difficult for Directors to sell options in practice as it crashes SP, so if they buy these options they won’t get reward until they leave. Can’t get that excited about it as none of it applies for 3 years - and if any of the significant projects come off don’t plan to be here then! And if they don’t come off these options are worthless. Personally think WA buying is more significant at present.
Old options cancelled and a lot of new options issued, although none of these vest for 3 years - so very much a long term incentive. Seem to invest if SP is at least approx 25% higher than today at the time - if I’ve understood it right.
None of us can know the timing, but as it looks imminent - whether that is 1 day, 1 week or 1 month - can’t really see the point in gambling on the timing on something so clearly signalled to the market and risk getting it wrong.
He’s put a lot of money into this company over the years - and continues to back it with serious cash - 6% of the company is a fair whack. Clearly thinks it’s way too cheap at present for what’s going on - and I agree - even if I can’t quite stretch to buying 6%!
If Wressle - the only source of income - wasn’t working for 4 months, then it seems reasonable to assume that profits for the year will be a lot lower than previous year. They had planned to start to install jet pump this January, so the profit hit would have been for following year.
I don’t read rns as saying they barely have enough money- rather that they have all they need for this year even if Wressle wasn’t working - which it now is and producing more revenue. In last interview WH referred to having funds to cover anything foreseen for next 18-24 months.