Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes - me too.
Genuine question - what evidence have you got that this share is being shorted? The only indication I can find is that less than 0.5% of the shares are short.
XEL was not and is not worthless. It has several hundred million barrels of oil in the North Sea at a site called Bentley. The trouble is it is now owned by its former bondholders and not by its former shareholders. The company could not repay the debt owed to its bondholders and the bondholders would not extend the debt beyond its maturity date. The price of oil was very low at the time and no one was interested in providing alternative finance so the company was forced to restructure and the bondholders converted their debt into equity - and the shareholders were wiped out. XEL will make a lot of money for its owners. A similar thing happened at GKP except that the shareholders were left with 10% of the company as opposed to nothing.
Currently about 9%. May and September.Yes. No.
The company has a philosophy of distributing its profits as dividend. It is worth looking at the company's detailed accounts. The adjusted EPS for 2017 was about 11p roughly equal to the dividend. The other things worth noting are firstly that the company has no debt and at the 2017 year end was sitting on �36million in cash. Secondly it translated 91% of its turnover into cash - which is not bad at all.
Compass - There was a spike after the excellent results back in August, but it is now some weeks later and ALD has suddenly started to leap. I suspect your latter option is the case.
Good upward movement this month. Looks as though the market is re-rating this share - or is something else going on here?
I too am heavily into this company. Daisyp your post makes a lot of sense and goes a long way towards explaining the share price movement in recent months.
The possibility of a partial annulment does concern me. It is a way in which the annulment committee could find a compromise - some gesture of justice could be provided whilst not totally trashing the previous ICSID decision. The annulment committee is still provided by ICSID and if they do trash the previous decision it will also destroy the reputation of those that made the decision and, by implication, the reputation of ICSID. Of course the previous decision was manipulated and absurdly one sided so the ICSID reputation is damaged anyway - but I am wary of trusting the process here unfortunately.....Anyhow, there is nothing any of us can do about other than wait and speculate!
Re Maestro's post at 07.37 - "as a goodwill gesture the company has offered to pledge title to some land in Indonesia that the Company had purchased in 2010. Chl purchased 300+ hectares of land on the Kalimantan coast on which they had planned to set up the port facilities for the East Kutai Coal Project." Compared to the total amount CHL invested in this project the purchase of the land is not significant. However this is a nice way of reminding the annulment committee that CHL were totally committed to the project and had invested heavily in it.
An OOC would provide a swift and hopefully satisfactory end to this saga. It would alow all shareholders to forget about CHL and move on. The alternative is another long drawn out legal action. Of course all of this assumes that some sort of justice is delivered by the annulment committee - and that is certainly not a given.
You are right oldbadger. REDDE dividends are paid in March and October.
Ford - When you refer to another panel are you referring to the panel judging the annulment? Or do you mean the panel that might sit if the annulment is granted? If the former then there are (I think) 17 grounds for annulment put forward. All need to be dealt with. If the original decision was politically motivated, as is a reasonable supposition, then the new panel will need to do a far better job of dealing with the issues than the first panel did. And they will need to produce good reasons for supporting the original decision or ICSID credibilty is blown - not that this scenario would help us much! If we get to the latter it is indeed a new ball game although I am led to believe that if the annulment is granted then the forgery argument is killed. Anyone confirm if that is correct? If so then CHL are into a new quantum case, and new evidence can be produced. As I understand it.....
And if the ICSID hierarchy are behind this why should we now expect a different outcome? It is the same hierarchy calling the shots. I hope that the hierarchy are not behind the original award. We really need the annulment committee to disown the previous judgement and declare it "unsafe".
Is the poster known as stephen1946 an insane fantacist or are his theories the real deal? I fear the former but hope for the latter! Shares are suspended so any thoughts of ramping (or deramping) are totally irrelevant. The saga of this share has an intriguing plot that's for sure.
The market always knows results before we ordinary investors do. So the good news gets priced in (hence the recent rise). There is then a sell off as profit taking occurs when the results become public. Sometimes there is then a recovery as investors move back in, hopefully it will happen here. My theory anyway...happy to hear others! This sort of thing does happen quite frequently though.
Check out the effect of the recent £/$ currency movement on the value of Shell dividends to UK shareholders. Plus price of oil hasn't backtracked...