Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Just trying to understand what are the negatives and positives for this share. I am currently holding 250,000 shares @6.3p and would like to hold for bit long if I can reap the benefits but would also like to understand what are the biggest risks. All the derampers and rampers opinions are welcome.
Lads, I commented for the first time on this yesterday and mentioned that the tide will turn after first hour of uprooting the week PI's. Now this juggernaut will not stop until another resistance is hit so only going upwards. Don't even think to sell it now as you would be losing huge money about to be made. GLA
Only PIs left here and few might panic sell at the start of trade but considering it is already doing pretty bad in the past couple of weeks a massive scooping rally will come soon, may be after first hour of trading tomorrow once the scared sellers are knocked off. Glen has only sold because he was not going to continue in this business and he bought few around 7p anyhow so not a massive loss to him.
Production guidance from July to Dec 12000-14000 Bopd (13000 avg)
Price of oil $40 avg
6 months revenue from oil = 13000 x 40 x 182.5 (days in 6 months)
= $95 million
Production cost = $18.2 per barrel
Production cost for 6 months = 13000 x 18.2 x 182.5
= $43 million
Net profit from oil sales = 95 -43 = $52 million (£40 million)
Considering the market cap of £57 million at the moment this is highly undervalued at the moment