Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Wabu, at 1900 bopd and an average price of $33 (see RNS) then I would guess a profit of about $8m before the boaty revenue. However, I don't see the bopd staying this low over the year with the number of drills planned.
I missed yesterday's RNS as I was involved in family xmas mk1 (and also because of the confidence of several posters that it would arrive today). I think Smarty has summed it all up nicely. 142 is a small disapointment, but may yet deliver. There is essentially no good news, but most of the wells are still in play, so good news may very well come along next year. If it does then the sp should move upwards sharply as it has done before. The bopd remains in a profitable area IMO, but cashflow to going into more drilling, as many of us have suggested should be the case.
A strong hold.
The post /trade ratio (PTR) metric is an important indicator for CASP. With this post it has risen to 4 today - quite a high value. A high PTR shows continuing but rather frustated interest from existing holders combined with a lack of interest from new buyers. Clearly nothing spectacular has happened but possibly slow progress is being made. Dates for certain events to occur given by CASP have never been particularly reliable in the past so I am not reading too much into them now.
Happy Xmas to all. Barring RNSs my next post will be in the New Year.
If there are a load of sells and the price stays the same, then probably some of them are buys. BM, you have given the probability argument for things coming good - one of these many drills has got to work? There is also the outsource argument, bringing in partners e.g. 802 and the historical argument (shallow well side drills have worked well in the past), the experience argument (we've possibly learnt from our mistakes) and the equipment argument (we've got better drilling equipment).
Agreed Mr C. It does seem like groundhog day in many ways. However, the market is still saying let's wait and see. No sells today and four paltry purchases of around £200 in total. I haven't reinvested my dividend yet. Perhaps this is the bottom I have been waiting for?
The sp was marked down on opening today, but there has been a surplus of about 600k shares bought over shares sold today (to the extent that the identification of each can be relied on). The reaction of the market seems more positive than that of the market makers. They have also got themselves a nice spread.
Clearly the drilling activity in Q4 is ongoing and will likely result in some good news by the year end, so I agree with smarty that the rationale for this RNS is unclear, except for the reference to collaborative work on 802. Perhaps if this latter point necessitates an RNS, then reporting on other operational activity is also required.
The negative reaction to this RNS comes from the lack of drilling progress, but was anything really expected at this point? I think we were in a waiting period and remain in a waiting period.
This is essentially an RNS about a collaborative arrangement and should be treated as such. Given past failure on 802, I personally welcome this development.
I think there is a difference between regular trading where you try to sell high and buy low on a regular basis as the sp fluctuates, and buying and selling to finance particular personal matters as Quaytec has done for his mortgage. I would like to support his view that his posts have been consistent on this.
A friendly board does better than an unfriendly board. Newcomers find it more welcoming. There is a bit of history on this board, and we all have our own opinion about recent comments, but can I suggest trying to be a bit nicer to each other. I will try to behave well too!