Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Score. That looks like another delayed sell. Has anyone been keeping account of how many have been dumped recently? Must be a few hundred million shares by now... I note that one of the Wressle JV partners are predicting Wressle first oil now in Q2 2019. IMO The only real SP drivers this year will be Bisc & Holm spuds. (although Holm looks unlikely)
Vernony. Obviously you know what you're talking about, as you can see it's impossible trying to debate with Johny (AZ), Rudey or Mix who is uneducated and incredibly inexperienced. Fancy buying shares pre float and into the 40s when any experienced investor would know their would be substantial dilution along the road. Not to mention his excitement constantly quoting SP Angels broker targets. It's quite sad I guess. I will continue to comment with my opinions, where it's called for I will praise the board i.e. consideration to finance debt... Last nights speculation, IMO is very possible, just look at the reaction it received. Their reaction to debate is to state "lack of research" and follow with "name calling". LOL
AZ. You mean the same "little bit of research" that called the last placing approx 2 weeks before it happened? Let's see what transpires, it's speculative ATM which is what BBs are for, but to the silent reader, be very wary of the blinded LTH faithfuls here..... All IMO and DYOR etc etc
"Union Jack has entered into a commercial partnership with Humber, a company whose sole director, Frazer Lang, is also beneficially interested in 396,806,484 ordinary shares of the Company held by G.P. (Jersey) Limited (representing 9.16% of the issued ordinary shares prior to the Fundraising)." Source: https://www.energy-pedia.com/news/united-kingdom/union-jack-oil-farms-into-egdon-resources-pedl253--signs-mou-with-humber-oil-gas--and-announces-placing-to-raise-£1-25-million-173002 Have a think about the below theory: Have JP Jersey (following the startup of Humber) decided to reduce / sell off and concentrate on their new strategy? They have big bills coming up...... Pure speculation on my part... DYOR etc etc *correction GP Jersey.
Rudey & AZ. The fact is nobody here knows who is selling but I don't see anyone else theorising. Take off your rose tinted, it must be uncomfortable whilst your heads are in the sand. LOL Re big bills, Wressle approx £1 million, Bisc approx £300k. Like I say, it's speculative on my part and all IMO and DYOR etc etc
"clearly not Humber selling" As far as I'm aware Humber don't own shares to sell? Have JP Jersey (following the startup of Humber) decided to reduce / sell off and concentrate on their new strategy? They have big bills coming up...... Pure speculation on my part... DYOR etc etc
Score. I think DB referred to Wressle adding $4million in revenue per year, which is correct at today's OP and $/� at 137bopd. (Well just shy of $4million to be exact). StockLife, saying Wressle will make UJO $4million profit is incorrect. Which is why I've asked for his / hers calculations. I've backed up my comments with calculations, feel free to share yours.... ATB
StockLife Show me your calculations for the $4million profit as you state. Below are mine: "�750k cash burn �2.2million Full year Wressle production ($60pb after operational cost / $1.35 x 137 x 365) =�1.4million (let's call that all profit, as Wressle will be classed under the small field allowance and be except for first 12 months I think?) Then the unknown, what terms the �1.04 million finance debt will be repaid. Say that figure rises to �1.2 million after fees and interests. It had been muted that the debt could be repaid after 12 months Wressle production, which is possible but leave very little profits (for the record I doubt it will be repaid over 12 months, much rather 24 or 36). Obviously there is no allowance in the above for unknowns, or drilling activity."
Mix. I've lost count of how many times I've answered that question. I had a �5k punt at just over 0.1pps. I don't need the money, it's just for fun. Oh and yes, the plan is to borrow just over �1million. Now enjoy your Sunday folks....
Rudey. I'm realistic, unlike most here. I've invested for over 20 years. As for moving from BB's using different names? Ask admin to check that out LOL Isn't it ironic how you can turn a blind eye to incorrect figures being posted here (as long as they are pumped up). Someone dares question them... they must have a hidden agenda LOL no wonder admin keep removing your posts
�750k cash burn �2.2million Full year Wressle production ($60pb after operational cost / $1.35 x 137 x 365) =�1.4million (let's call that all profit, as Wressle will be classed under the small field allowance and be except for first 12 months I think?) Then the unknown, what terms the �1.04 million finance debt will be repaid. Say that figure rises to �1.2 million after fees and interests. It had been muted that the debt could be repaid after 12 months Wressle production, which is possible but leave very little profits (for the record I doubt it will be repaid over 12 months, much rather 24 or 36). Obviously there is no allowance in the above for unknowns, or drilling activity.
StockLife. That's not correct. If Wressle comes on stream at 500bopd, at today's OP that gives UJOs share just shy of $4million (or �2.8million) Revenue. Then minus Wressle operating costs and current cash burn (approx. 600k-700k per year) and minus repayments on the financing debt they take on and then of course any tax due (minus first years allowance etc) to calculate UJO's net profit. There should be profit there (all being well), all depends on how quick they decide to pay the �1 million financing debt off. The market awaits the financing agreement and terms. All IMO
Mbud. I would be more inclined to believe the extract from Celtique's accounts that's Mix's below statement: "Celtic by no means are bust lol. Oil exploration is not their forte just an interest. DB built a relationship with them and was always going to get first dibs on any sale. They don't need the money but they like DB."
Mbud. A note from Celtique's accounts re Wressle: �As this is one of the last remaining licences held by the Group, if there are delays in the development, the development is unsuccessful or production is less than forecast, the Group and/or Company may not have sufficient funds to repay shareholder loans or settle their liabilities as they fall due. �The Group may also not be able to achieve the expected disposal of the licence�. �These conditions indicate the existence of a material uncertainty that may cast significant doubt about the Group�s and the company�s ability to continue as a going concern.�