£600k HUR in SIPP is not outrageous, putting that much in a Woodford Investment Trust would in fact have been more of risk.
Mid or End of 2021?
"The Company is aiming to achieve first product from the mine by the end of 2021"
https://siriusminerals.com/our-project/
OR,
They said SXX is AIM
Attention to detail...
Poor Journalism.
Obviously not aware that SXX is........ FTSE 250
"The Richest Man in Babylon" book has always stuck in my head since reading it.
re: Mind Games
This is good if you can find the full program : https://www.bbc.co.uk/news/science-environment-26258662
You're not wrong Wulbert, most of the "articles" seem to be:
"Why share A is better than share B, and you could retire if you buy it"
Do you use an online broker? I use HL, not saying they're the best, but it is a source of info.
There'll be other far more clued up on here than me, but watch "Becoming Warren Buffett 2017 HBO Documentary" - he reads 8 hours a day allegedly.
Re: reporting, just register on the company website for the RNS email alerts if they offer such a facility. HUR do:
https://www.hurricaneenergy.com/communications/alerts-service
For oil/energy there is Malcy's blog, best taken with a pinch of salt if he gets too flattering.
Just my 2 penny's worth. Sorry if teaching you to suck eggs.
Good luck.
Thuc:
Mr. Market is often identified as having human behavioral manic-depressive characteristics, it:
Is emotional, euphoric, moody
Is often irrational
Offers that transactions are strictly at your option
Be nice if The Donald can phuk the Markets up each month just before payday.
#TopUp
There are many more suitable shares to trade than SXX.
Having said that, one strategy would be to try and time when Mr "Dan McCrum" is going to write his next biased article in the FT and sell the day before.
Dan, if you're reading, don't turn up to the £1 party or you may end up with a few bruises out the back by the dustbins.
Click recommend if you're ignoring Mandrill.
Not going to give him the oxygen he needs of a direct reply.
AD, glad we'r on same wavelength.
IMO there are 3 ways of looking at the SP.
1. Through a microscope; what are the charts saying, when is Dubai Sail away RNS going to send SP upwards
2. With naked eye; what's going to happen in the 3-6 months post hookup/FOIL/"news blackout" referred to by Dr T.
3. With binoculars; JV/TO/Farm out, and "end game"
It's "2" that is foremost in my mind.
We know there'll be a quiet spell. Source = Dr . T with Malcy.
We know that we'll need to observe 2 tanker loads to gauge the output rates. (Min of 2 x 19 days).
Source https://www.hurricaneenergy.com/~/media/Files/H/Hurricane-Energy/documents/cpr/Hurricane%20Lancaster%20CPR%202May17%20Issued.pdf
"The storage capacity of the Aoka Mizu is such that tanker offloading will typically be required every
19 to 29 days. Reduced storage capacity would increase offtake frequency and associated OPEX
costs. "
I consider myself a LTH investor rather than a "trader", and preparing for what's coming next.
re "I don't expect any news between FoiL and first offload." - I agree, or even second offload?
FWIW my own hunch is that we're about to see 2 "Good" RNS's and some more Daily Mail/Motley Fool stories, plus articles upping the ante on POO which could boost the HUR SP significantly.
We'll then have a test of nerves following that, early 2019.
The question is how high will SP go this year, and how low might it drop when it falls back... nobody has a crystal ball, but we do know there'll be quiet spell...nuff said!
100% agree with you LL.
Note:
Bottom of page 21: https://siriusminerals.com/downloads/agm-presentation-may-2018/
IPA's
prequalification does not constitute an offer of financing or an underwriting commitment.
In meantime, SXX Bingo anyone?
1 point for "hope"
2 points for "dilution"
3 points for "guarantee"
johnpwh,
Just checking why you think it could be massively 'below' what it is today?
IMO the SP will go up between now and end of 2018 and even if Lancaster disappoints, as long as it generates some cashflow, then HUR live to fight another day and drill more wells. If you think the SP could drop to 30's, 20's then what do you think the specific cause will be?
Is it too simplistic to suggest that there may be a lull in news events post AM arrival/successful buoy hookup at Lancaster?
IMO there'll be a bit of a rise in SP once AM leaves Dubai (say 5-10%)
There'll be the usual Motley Fool/Daily Mail "Tips" once AM arrives at Lancaster - with the same 2 or 3 articles getting replicated on numerous other websites.
As I see it the other SP price rise catalysts will be:
-POO
-Announcement of FTSE entry
-News re: Drilling 2 more wells
https://youtu.be/QGF_G-U2qtk?t=14m30s
"Shareholders can expect to know ALMOST every step of the way" FFS!
AD, JK,
"Too much oil"
Yes, safely disposing of all that 36o -38o API light oil is going to cost HUR isn't it - is there no way they can inject it back under the sea somehow?
The Five Billion Pound Super Sewer (BBC2)
If anyone has been watching this they will see the concepts of D-Walling, TBMs, Major infrastructure project.
On the plus side Sirius is carving the tunnel through softer material and there is no river above...
Certain bits are a one-chance attempt though:
Pouring concrete continuously, Lowering a TBM down a shaft on the end of some wires.
I have 50% of my pension/ISA in SXX but have other holdings, and won't ever borrow..although am using all my saving which if I wanted to could instantly pay off my entire interest only motgage - but prefer to keep the capital outstanding and keep paying 1.49% on it whilst sxx outperforms the rate I'm borrowing at (1.49% p/a).
JP,
Loss Aversion...
We remember the losses more than the gains...it's a cognitive bias..
The danger with HUR will be if there's a drop in SP while Dr T and co analyse pressures/flow rates for 6 months during/after FOIL..and the rumour mill fails to sustain any lofty/ambitious SP aspirations.
That will be the time when in the words of a politician "tough decisions will have to be made".
Mr Market is our friend at the moment, volume is low.
Looking at RNS history, HUR RNS typically come in 3's (or 2's).
There may be 2 very close together *soon* / Aug ?
https://youtu.be/QGF_G-U2qtk?t=13m13s
"They like a bit of newsflow" - Dr T *rubs top lip, bit of awkward body language!*
"Robert have you been digging wells down in the river again?"
"No mum, it was the bigger boys"
100% agree Mandrill.
I use HL, and observed the Woodford bandwaggon without ever jumping on.
I now look at who Woodford invests in when I'm looking at companies to avoid...
Genghis, re Malcy... I don't find him credible. Difficult to put into words, but it often seems as if he's on the payroll of the interviewees, yet HUR is a compelling investment at current SP, given the activity lined up for the next 12 months, POO, 100% owned assets, grade of oil to be produced. I've only heard him once ask Dr T a tricky question.