Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Spitting their dummy out today because Faroe won't play ball with board members..takeover battle to follow ? I wonder..
Africa's richest man arranges $4.5 bln of financing for oil refineryTue, 24th Jul 2018 17:11 * Oil refinery to cost up to $14 bln * World Bank in refinery loan mix * Dangote says plans to build stake in soccer club Arsenal By Didi Akinyelure LAGOS, July 24 (Reuters) - Africa's richest man, Aliko Dangote, has arranged more than $4.5 billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters. Dangote, who built his fortune in cement, is building the world's largest single oil refinery with capacity of 650,000 barrels per day (bpd) to help to reduce Nigeria's dependence on imported petroleum. Despite being a crude oil exporter, Nigeria imports the bulk of its petroleum because of a lack of domestic refining capacity. Lenders would commit about $3.15 billion, with the World Bank's private sector arm providing $150 million, Dangote said, adding that he was investing more than 60 percent from his own cash flow. Dangote Group has said that Standard Chartered Bank was arranging funds for the project. "We will end up spending between $12 billion to $14 billion. The funding is going to come through equity, commercial bank loans, export credit agencies and developmental banks," Dangote said in an interview in Lagos on Tuesday. "Hopefully, we will finish mechanical (construction) by next year and products will start coming out in the first quarter of 2020." Nigeria's central bank would provide guarantees for about 575 billion naira in local currency for 10 years, with African Development Bank providing a $300 million loan. Trade banks from China, India and some European countries are also in the mix, Dangote said. The planned refinery and petrochemical complex is expected to account for half of Dangote's sprawling assets when it is finished next year. Last week Dangote signed a loan of $650 million with the African Export-Import Bank (Afreximbank) for the project. Dangote said he was looking to acquire more oilfields as his focus shift towards the oil sector to feed the refinery.
Government to make foreign takeovers more difficult, doesn't bode well for our major German stakeholder , I was hoping they would come sniffing around soon and help push SP up aka SKY scenario at the mo.
Yes i hold i3e as well has aaog and am hoping to make a few quid on both but I do wonder why these two stocks have never been mentioned in Malcys blog , not that I take everything he says as gospel but he must be aware of these stocks and their potential but has made no comment on them
I deal with the Halifax and received around 30% of what i asked for , they have been in my account for a couple of days and look tradeable to me..Good Luck.
MM don't need much excuse to mark prices down so Monday morning may see SP down but surely Opec won't allow Yanks to dictate flow rates , doesn't make sense after last week's agreement , anyhow Saudis very cautious expect them to wait and see what happens to near-term global output before intervening with a light hand to stablilise prices at Trumps request..
Very strong !.
Looking strong in a general lull period for Oilies over the last week..
GP only got one thing going for him Rodders and that's the fact he a fellow red !...YNWA..hope you got plenty of patience like me as I can wait 10 years plus for slow steady turnaround ..
Yes bear 13 , I hope your spot on with your thinking . Most Oil stocks dipped a lot on the way down 2014 - 16 with huge daily drops , unloved by the city waiting to see who went bust after proceeding with new drills based on 100-120 dollar oil . I think we are set fair now for a couple of good years as a new cycle begins and are now seeing bigger daily increases across the board in oil/gas stocks .Patience is the name of the game here at least till next summer I think by then most oilies will be double the current price..GL
Yes always difficult to buy at the bottom but buying close to the bottom and selling near the top is what PI,s are attempting to do. Surely most bad news out the way for BT now but general stock market correction would see SP go well under 2 quid but BT have no control over that , I would have liked 2 billion or so issued in new shares to major institutions to help out with pension as a little dilution better than bonds which just kicks problem down the road for a couple of years..are we slimming down ready for DT takeover next year??
Rodders , please get back down in that dark hole where you reside ..come back up when you are sober and and can string a few sentences of clarity in one post.
Correct....G.fast is a quick fix for punters who are lucky enough to live near green cab . OR will be falling over themselves to install FTTP asap ...speed will not be an issue any longer then as new hardware sequentially released to enable use of new technologies at crazy fast speeds..may take at least 5 to 10 years I reckon to install direct to most premises..engineers will be very busy up to this point then the copper network can be scrapped and weighed in ...not many engineeres will be needed then as fibre mostly fault free unless dug up and damaged..a much reduced workforce required then ..do you get my drift..much less expensive maintenance + more revenue = hopefully higher SP .. I suspect D-telecom will have taken BT out by then.
G.fast will only be offered to punters who live within 300 mts of the green cabinet that feeds their premises..uses existing fibre cable from the local exchange to green cab . Very good speed if you live handy for cab whether in the city or rural...otherwise you wait till FTTP offered..
Bt have have carried debt for 20 years + showing no desire to pay down , it is a useful tactic to ward off hostile takeover approach but Moody downgrade makes it more expensive to service nonetheless. I have put shares to the value of 30K in the last 6 months into my Sipp at average of 287p and with my 20% tax allowance iam slightly under water , I intend to put same amount in over next 3 months to fill next year's allowance I expect average to drop to around 245ish but don't forget further 20% tax allowance I will then sit on them for up to 10 years bearing in mind that i am now 55 years old now . Short-term price may go under 2 quid but very confident of good return over time so I shall see , it doesn't mean am happy with the BOD management over the years but they have given me a Golden opportunity to get in at these prices..Time will tell...
The BOD will have to think very hard about a Div cut as SP decimated already .but extra funds needed for Fibre rollout and pension support .in fact Div cut may already be priced in to a certain extent but would still expect SP to be punished further. A looming market correction is the one to worry about..2 quid on div cut and 1.50ish if market has a wobble..easy..
That's just your opinion Faultsman which is as valid as anybodies, we all try to buy at the bottom and sell near the top and that's the object of the gamble we all take..I think it may take a year or two to turn around and over a 5 -10 year period Iam sure it will recover and some..
Just read a report on LSE that Congo authorities are very keen to drill for oil anywhere including on National Parks!!!..tells me issuing licenses shouldn't be a problem although time consuming it can be..I have been buying in the last month and hope we start getting good news on the issues that have forced the SP down of late..Good Luck everybody DYOR.
Almost £1.10p per share..pity exchange rate didn't go other way 😯 as £1.30p more agreeable to me