Firering Strategic Minerals: From explorer to producer. Watch the video here.
Zen, Thanks for the explanation. If thats the logic then next years dividend would need to be 4% of whatever the SP will be. Even at 25p the dividend needs to increase from 0.3p to 1.0p. If the SP rises as expected then it needs to rise even more. That still seems very affordable given the FCF projections.
Wonder what the "jam tomorrow" message at the GM tomorrow will be? Seems to have gone all quiet now that salaries etc have been secured for the foreseeable.
I see we have had a nice run up in the SP going in to it!!!!
Made another purchase(8th) here today, hard to resist with a yield in excess of 10%. There is possibly also a trade here in addition to the dividends with the heating season in the US started and a likely increase in NG prices as inventories get drawn down. Last year there was a nice spike in NG prices in response to a cold spell.
Hello, I am a LTH of Enquest and used to be a frequent reader of this board but haven't looked in much this year. I have a couple of questions regarding cash flow:
1. Does anyone know / able to predict when the OZ facility will be repaid?
2. Is there still a revenue sharing on Magnus? If so when is this expected to end?
Just trying to work out the rate that debt will be reducing at!
Vista
Hello, I am a LTH of Enquest and used to be a frequent reader of this board but haven't looked in much this year. I have a couple of questions regarding cash flow:
1. Does anyone know / able to predict when the OZ facility will be repaid?
2.
Looks like the securitisation was completed on reasonable terms. The operational update was strong and I liked the hedging put in place. Made my seventh purchase, hopefully before the "usual" winter gas price rise. I am here for the dividend, any capital appreciation is a bonus.
Impressive either way. Well done and good luck!
duster, could I be so bold to ask if your 45K buy was number of shares or sterling value?
Simply fund portfolio rules to manage any potential downside risk from over-exposure to a single share. The Cavendish Fund Manager really likes RRE but still has to manage a controlled sell-off of some portion of the shares they hold.
The party hasn't even started yet if you can just have some patience.
The market cap is so misaligned with future value.
1750,
Looking at page 5 and page 8 it looks like a TOTAL of 2k BOPD NET for the 2 wells. (not a total of 4k NET)
adv11, if you look back the DGOC SP seems highly correlated to Henry Hub gas price. I hold these primarily for the dividend but the gas price might provide some trading opportunities as well. If you want ZERO tax then buy them in an HL SIPP. (with a W8BEN)
Let me start off by saying I am a LTH and will over-subscribe to the open offer.
However the burn rate was £200k per month before the funding was announced and now its £260k. I would like to know how this £260k per month is being spent. I don't know how many employees they have but it sounds a lot.
Anyone have any ideas when the GM might be and when we can expect to hear details / timing of Open Offer?
Need to know in advance to have funds available.
Do you mean the August Corporate Update? I can't find any June presentation.
adv11, what I have quoted is how Hargreaves Lansdown treat the trading / dividends of DGOC, can't make any comment regarding other brokers. I am still expecting the dividend per share to continue rising with continued acquisitions and buybacks as long as the 40% FCF policy stays in place.
Good Luck!
Commando, you need to have a W8-BEN form completed to trade DGOC. It takes 5 minutes to complete online and trading can usually commence within 24 hours. With a completed W8-BEN you will lose 15% in an ISA and Zero in a SIPP. You will lose 30% if you don't have a W8-BEN in an ISA. Even with a 15% reduction in an ISA its still yielding ~9.5% and likely to rise with accretive purchases and share buybacks.
I believe the company are looking at the tax position of dividends in the UK to see if the position can be simplified.
Larus, Not sure how you read the RNS that way. RNS states that they reduced from 5.83% to 4.64% on Aug 1 with a holding of 607,971.
The previous TR1 from Macquarie on Feb 20 stated 5.93% with 747,588 shares.
I don't see it as a negative that they have reduced their holding, rather as progress as the IIs work to de-risk their large holdings in RRE to meet their fund / portfolio rules.