Member Info for Tommo1985

I'm expecting/hoping for 3p dividend which would support a 40p shareprice. Cost c$75m of the $208m FCF which is well covered. They can do some buybacks or pay down debt for the rest or do some drilling. 1 pence is not enough and is not meaningful.

A good read.

https://www.spiked-online.com/2023/07/16/the-human-cost-of-net-zero/

The reason this wont rerate is all the tax they are going to have to pay on future profits. Hence buying someone with lots of spare tax credits to cut the amount payable significantly!

I wish Harbour would get on with some M&A and buy some businesses with a tonne of tax credits to use vs profits. Parkmead would be a bargain. (tax losses/credits vs cap). Enquest is another (on a much bigger scale). Both would save Harbour 40% on tax. Ok the EPL would still apply...

Pleased to report my preference shares have arrived at AJ Bell. In total 2789. Anyone know how many are issued in total?

Anyone who has held this share is massively down. It used to be over 2p. I’m down £2243 and have averaged down several times.

The dilutive share issuances are a killer. It’s why we are up to 5 trillion shares.

Has anyone been awarded these yet?

They aren’t showing up on my account with AJ Bell?

The NPV will be 0.5x after Harry issues another trillion shares at rock bottom prices. This share is a death trap.

I’ve always said this is a trade you can not finesse. You are either in or not, when the buyout comes. It’s such a huge deposit (#5 in the world) and such high grade with premium direct shipping ore that it will one day be developed. The only reason it hasn’t already been is the location and inability to ship the material out. That changes with the port.

I’ve been here a while, and expect one day we will see a flashing RNS saying it has been bought out. There hasn’t been much dilution here and many of the shares are tightly held. Not much held by PI’s. Which also protects us from crappy bids re takeovers.

The NPV is huge - however so is the development cost. It needs a buyer with real intent in a tough jurisdiction and development area. We may only get a small fraction of the NPV but if that’s $7bn and a 30 year+ mine life then 10-30% will do fine.

Even 10% is a multi multi bagger. Those with research ability can find out what similar mines have gone for.

For me it’s 100p a share and 1% to cats protection. Anything more is gravy but I consider that the baseline I’d accept happily.

Https://www.cnbc.com/2023/06/26/opec-says-oil-demand-will-hit-110-million-barrels-per-day-in-2045.html

Not sure where the supply is coming from. Meanwhile Uk PLC is going to have enormous balance of payment problems from all its imports it needs.

More likely to open at £2 buddy. A negotiated peace or internal Russian civil war is exactly what we want.

Petition for you all to sign re repealing nut zero.

https://petition.parliament.uk/petitions/639235

ENQ now priced at options money. It’s got 12 years of reserves and if oil does go back to $100 a barrel would be debt free in 2 even despite our thieving government.

Https://archive.ph/PEvOD

SQZ chairman speaks out as he steps down.

I suspect tomorrow will be painful. Still. It’s payday time to load the boat.

Translation of the RNS - production is fine but we aren’t making any money at this oil price.

Https://www.cityam.com/enough-windfall-taxes-we-need-oil-and-gas-to-go-green/

Fess up lads who wrote this?

That’s quite a bit of gas… however no commercials mentioned. Also a useful partner!

£6m vs 195m claim…

Interesting this is coming back - at the very least it's not a zero or unlisted which I'm sure was a concern held by many.

More interesting is that the CURRENT shareholders keep their litigation rights, which are NOT diluted by the RTO.

If FOX succeeds at its tribunals we could all do very well indeed. I mention this as a Rockhopper shareholder, which nailed Italy for 190m euros. Hopefully FOX can delete Italy and add Kosovo. I think they sued for roughly 200m. In reality I doubt they'll get anything like that, but then the market cap here is a paltry £5m so they don't need to.

I'm (very) happily holding here.