Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Bigger sells just before close of play. Looks like a duster and all this hype about a discovery was a bit premature. I fail to understand why the flow testing was not carried out straight after the drilling. They had years preparing for this.
Well as the MCAP descends towards £100m the vultures will be watching ready to make a move.
With production of over 20k bopd and reducing debt, a few people must be thinking that they can make a better job of running the operations than the current bunch of clowns.
Sales were only £61k today. I would have thought if the results were being circulated the sales would be much greater.
Some of the problems here are:
- Existing oilfields are in decline.
- It will cost money to develop any new discoveries
- The global market for oil seems to be in freefall.
- Management has admitted Jacobin costs have overrun but given no detail
- The PR here has been poor and it will take time to build up trust again.
- There will always be sellers but very few new buyers are being attracted.
- People are panicking and offloading before the results.
The way to get the share price moving is:
If Jacobin successful as a commercial discovery with good flow rates.
Confirm how the field development is going to be financed. TRIN cannot borrow the money, the market would prefer a jv option rather than a discounted placement.
If Jacobin is non commercial:
Confirm how Trinity takes this forward and clarify the current financing position. Again the market would prefer a jv farm in rather than a placement for any future drills,
Finally if management believe the company is materially undervalued and the share price continues to slide, simply place it up for sale to realise a decent quick return for shareholders.
I've noticed despite the big share price rise and purchase volume there is hardly any mention of 88# by retail investors either here or on X. Always a good sign meaning folks are still loading up and taking their positions.