Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Kb,
Nothing is legally agreed yet. The MOU is nothing more than an indication of intent. Note the legal definition:
A memorandum of understanding, or MOU, is a nonbinding agreement that states each party's intentions to take action, conduct a business transaction, or form a new partnership.
IMO, the real rises will come when the legal contracts are signed and not before although I would love to be wrong.
GLA
That's because the volumes they are buying is nothing more than gambling money. Directors should be buying in block of 1m shares if they really want to make a statement to the market.
Bot
My mistake. I thought market spot rates were used and the difference was much bigger.
Thanks anyway
How do you convert 20c to 13.5p? That's an exchange rate of $1.48 to the pound
When natural gas is burned, it produces mostly carbon dioxide and water vapor -- the same substances emitted when humans exhale. Compared with some other fossil fuels, natural gas emits the least amount of carbon dioxide into the air when combusted -- making natural gas the cleanest burning fossil fuel of all.
The big issue here is that "The Deal" everyone keeps talking about is not crystalised until a number of other events have completed, if I understood it all correctly.
Therefore, at the moment, it is worthless, despite looking very good, IMO, if and when it does crystalise.
All the investors, including me, were expecting the whole thing to be concluded a long time ago, including permits, GSA, partner agreement, financing etc.. and whilst the BoD made progress, we are now looking at well into Q1 before it is all finalised.
I for one are happy to stick with it for now but there are some risks still to be considered.
Whilst the announcement today is a massive step, we still need the GSA and the FID.
Could that be what is holding us back and does anyone have any view on the FID timescales?
GLA
This type of complex negotiation could take another week or another 3 months. Analysising every word from the RNS or individual quotes is pointless in my opinion. What people say on Mon does not account for the banana skins thrown in front of them on Tuesday. Jmmy seems to know the industry better than most on this board, certainly better than me, but i don't see him speculating timescales because he knows it is complex.
I love the optimism on this board, but everyone should take it for what it is - pure speculation. You should either believe, and possibly buy more at a price you like, or not believe and leave.
Gtrzak,
You would like to think so but lawyers drag these things out, deliberately IMO, as that's how they justify their fees. I have never met a lawyer in 35 years that does otherwise.
That said, even they can only stretch things out so far so let's hope the BoD are pushing them hard for a closure, in their words, "imminently"
No chance IMO. The delays are caused by lawyers, as usual, moving at their own snail pace. Add in a government dept and you have real challenges trying to forecast the conclusion date.
I have one govt contract, a fraction of this size, yet it has taken 18 months to negotiate.
That said, I would dearly love to be proved wrong.
GLA
If this news arrives prior to the conference it will be down to the lawyers finally agreeing contracts and absolutely nothing to do with conference timing. Anyone who thinks it is being specifically timed for the conference is being overly optimistic or simply naive IMO.
I do understand everyone's frustrations but this is best forgotten until it finally happens and I believe it will happen.
GLA
Agree with all your comments. What this does show though is that there is a high level of confidence in bringing this to conclusion and realising the value in the shares.
MM, Extrader,
Keep the posts coming. Your research and subsequent posts are really informative.
I suspect most people reading them are like me who left the other board because they were fed up off reading petty squabbles and insults, rather than sharing views about our prospects.
Thanks alot
Jimmy,
Would you kindly paste the article in the chat. Looks like an interesting read.
Thanks
This BoD can and should do much better with comms. When I ran a plc we would update the shareholders regularly and so long as we were factual, not misleading and not pumping the share price, most things are fine.
They could easily have given us multiple updates this year regarding FID progress. The CFO had the nerve to go on proactive investor in about Jan and tell us there will be lots of updates through their most exciting year and yet we have heard virtually nothing.
If I don't see something substantial in the AGM I will be seriously considering dumping at least 1m of my holding.
GLA
KB
Too much !
Kingbilly,
I am with you on this one. I have accrued 3.3m shares over the last decade and they are not getting another penny until I see them produce something of substance. I have seen far too many false dawns.
GLA
Folks,
A couple of observations:
1. Be patient. I have done government contracts before and they always take longer than anyone expects. I also suspect that the GSA and the Finance Agreement are so closely tied together, they need to be signed at the same time (I.e you would not sign a gsa without being sure you were financed to deliver on it and you would not sign the FA without being sure of your sales future).
2. This is not an either/or debate about drilling onshore or offshore. The last presentation let slip they would be planning 6 or 7 Wells next year, anchois and the new onshore licence.
Hope that helps
Regards,
Folks,
Can we get back to some sensible posts. There are some great posters on this board but today has been like a bunch of squabbling 5 year old.
GLA
Mine was on Monday, not yesterday and did not see any trade go through for either of my trades