Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Rzez Thankyou for your kind words, I don’t post much because of the abuse sometimes for having an opinion or sometimes simply for stating facts!
The IFRS loss arises due to hedging against falls in equity prices and lower interest rates, so the financial results benefit when equity values fall and suffer when equities rise as they have done over the last 6 month period. However the increase in future investment returns is not reflected in IRFS results so the IRFS position is volatile reflecting the value of hedging instruments in any reporting period. Therefore a more stable or reliable picture is reflected by looking at operating profits rather than IRFS profits.
So there is no bad news that I can see in these results, in fact the results are broadly good news masked by IRFS reporting requirements. Hence I’m happy to buy more at these prices and more I f the market drags the price even lower.
The buy/sell estimate should be dropped from London South East, you can work it out for yourself usually by looking at the sequence of share prices, every trade is a buy and a sell. If you look directly at London Stock Exchange, every trade is just a trade, a buy and a sell.
Agree with your comments and sentiments, but just have a look what is written in the Bill, it specifically says no interest costs or damages.
White, yes it’s enforceable under international law eventually but how many more years will that take? Indian Govt is gambling that Cairn will take 1bn now rather than pursue in court for years more.
Thunder, The Govt are gambling that Cairn will take the certainty of 1bn now vs the uncertainty of more later, not saying they are right or fair, just that is their tactic. Right or wrong, that’s what it is.
However it means that potential new foreign investors have tax certainty which is what the Govt wants to boost investment post COVID. Historic investors eg Cairn may have certainty if they agree to the $1.2bn total, of which Cairn 1bn. The Indian Govt is gambling that this is enough to settle with Cairn and Vodafone but hasn’t left itself any flexibility. Take it or leave it is their tactic.
There can’t be negotiation of the amount, it’s either the $1bn tax charged or there’s no agreement. The Bill nullifies the tax charge subject to conditions being met incl that there is no interest or legal costs payable. So the Bill is the offer and is written into the law. The Government or it’s negotiators don’t have any flexibility to reach a settlement for the 700m interest and costs, so the offer is 1bn or not 1bn.
IG help desk says that poolbeg shares from the dividend in specie will be booked in share accounts in 9 months from admission.
Is this the same treatment on other platforms? Can anybody see their poolbeg shares and how many shares have been allocated? Is everybody using IG in the same position and understanding?
Thanks for any comments, apologies if already discussed for IG.
Thanks for the news link ragu, made my day!
And some cash will go out of OO into Poolbeg, although we don’t know how much until IPO.
The IG platform appears stuck in auction, but I did buy twice this morning and they are showing in my trades list, on the other hand they didn’t appear on my level 2 trades data. So not sure but hopefully ok.
Or subscribe to Level 2 data, on this website or another, and see live trades and the order book too. Both are invaluable to see what’s really going on behind the quoted bid and offer prices.
Leo Toole CFO
JH sorry you are incorrect, this £40m contract was indicated on the conference call on 30 September as I stated on this Board on 3 October.
JH sorry you are incorrect, this contract was indicated on the conference call on 30 September as I stated on this Board on 3 October.
Adz, we’ve known about the £40m UK Govt contract for 3 weeks, so that news has become priced in as the price has risen to high 20s, and quite normal to drop on formal release of the news as some sell to take their profits. However there is more transformation news to come in the next 3 months, not least the re-selling multiple times x £10m of further Covid challenge trials. IMO.
Agreed we’ll get to 40p before long but we knew about the £40m contract a couple of weeks ago so arguably it was priced in. The bigger news is that we can sell the challenge study trials multiple times X £10m on top of the 3 UK Govt trials.
Yes sold out Between 21 and 25p. Having said that sold out previously at 12p and again at 15p. Some professional traders will say it’s good portfolio management to ride the upward wave , buying and selling but banking your profits on the way up.