Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
That was stated on the 4th of June it had been agreed and binding paperwork signed, doesn't say any cash or shares had transferred over. Say title would be transferred on the date of first payment implying at a future date, with 2 more payment made at 6 and 12 months after respectively.
Fag packet calculations for the 1.65M purchase of ground equipment. Assuming 1 year ROI and a saving of $4 per barrel then it equates to flows of
1133bopd running 24/7
1322bopd running a 6 day week
1227bopd running 24/7 - 48wks (4 well maint)
1432bopd running 6 days (4 well maint)
Thoughts?
Roughly 525k in 2 large sells (reported as buys). People may think they are buys but I don't, I think they are the first installment on the ground equipment (550k) If right we should get an RNS in the next 24hrs to say installment 1 complete, title now transferred to Ukog. If so that's a huge positive and this will motor on.
Thanks for your opinion Oilybloke, as you can see from my history I have a long trading relationship with Ukog and luckily fell on the correct side of the BB bull run. I did buy a few K's worth last week as I felt we were at bottom, I'm just very realistic. I can see this push back toward the 1p marker but feel we need a change in board to gain shareholder value. SS and DL have caused major doubts and the weald is still a punt for me. Fingers crossed for all under water, it may turn out to be amazing yet, but I fear further finding and a share consolidation before we reach that point.
Seems to be consolidating in the 0.50-0.60 range ready for the next leg up, I definitely think somebody is building a position in the background. The big buys over the last 24 hours aren't just PI's taking a punt. Be a very interesting week here.
I'd hit the scotch too! An independent panel is far better than Burfoot's rebuffle so should clear 2k over the next session or two, anybody in at the lower end of the market abuse will be having a hell of a start to the new year.