Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Holy moly batman! 3.7p!
Will it go up forever or will we see some pullback?
Here's hoping for the former!
Gla
I was in at 1p. Albeit only £60 on T212, but it's now £166.
Better than a kick in the teeth (especially as it was some of my leftover cash from selling out of BPC when it dropped like 75%)
Seems to be considerable resistance at 0.403p from what I can see on T212. Hasn't budged either way since 9.30-10am. Surprised at the lack of profit-taking! Implies a good amount of faith in the share.
I have managed to buy this morning. I had an order on the open which filled instantly at 0.37p and managed to fill another order just after at 0.41p. Albeit they were small orders (£140 total). That was on T212.
Bully, I respect your concerns - but they are unfounded.
There are dozens, if not hundreds of companies traded on AIM that have traded positively despite having no revenue. Revenue and cash are one thing, assets and fundamentals are another (imo, they are more important for miners). GGP has all the cash and resources it means to operate and make a profit.
If you offered me £5 cash, or 1oz of gold worth $1800USD that I could have in 2 years, I wouldn't simply turn down the 1oz of gold just because it isn't cold hard cash. In fact, GGP is more like offering me 1oz of gold and they're promising to try and find me more.
GGP is in a good place. They have proven assets and the means to convert them into revenue over a fairly short-term timeframe compared to most AIM companies. Not only do they have the assets, but they are in the process of proving even more and have good working relationships with the big miners who will support them in extracting and liquidising those assets.
Its all basic economics when you think about it. I am not concerned and if anything the recent financial moves by the Bank of England have made me optimistic about gold as a stable commodity.
Joncee, I'm in BPC for that very reason. Too many companies with minimal fundamentals/assets that seem to have little to offer. Can't go too far wrong with oil as we head into a global recovery. BPC are drilling the Bahamas, estimated 700mn barrels of oil. Multibagger if it comes through.
My personal opinion is if they hadn't found anything, they'd be done now. They're well over 45 days into the drill when it was initially estimated 30-45 days. Now saying 45-60. You don't keep drilling if all you're getting is sand.
As for ICON, well - I can't see any good prospects. Lots of talk about a deal with Amazon, but very very little evidence.
I am confident that if they didn't find anything, we'd know by now. I wish I could be on that ship right now and know what we've got!
They anticipated around 700mn barrels I believe?
700,000,000 X 50USD = 35,000,000,000USD
Estimate we sell it for 15% of that value (not knowing what the cost of extraction and the profit margins for the oil miners is - literally just a conservative guess).
That's $5.25bn or £3.85bn which is almost 38 times our current mcap of £105mn. So my £500 investment could turn into £19,000 over time.
Very pie-in-the-sky, but I can dream! As always, DYOR.
Put in a buy at 2.93p.
Still waiting for fill at 3.23p
Need a new broker...
I estimate a return to 33p+ by close on Friday.
Seems like an interesting share. I'm in it now for the news and hopefully beyond.
Has been recently. Not much happening yet!
Jiffy, good spot. I can't find anything about the Siam deal. Fingers crossed they update us on that soon. We have results due end of this month. Maybe something will crop up?
With any luck we will be "post-pandemic" in the Summer - or at least at the tail end. Call me naive, but I am optimistic. I agree to some extent with Zeeco - they most likely mean post-lockdown or in late-spring/summer.
@contrarian123, it may work well for some and especially if you have some niche skill set that is in high demand. However, for most going independent is a bad idea. If you consider 19th century work conditions, they were very similar. Most people didn't have a "permanent employer", such as dockworkers or factory operators.
They would show up to the workplace and they would either get work or not. Those willing to work for less and worse conditions were the ones chosen over those who wanted better or were disgruntled (e.g. known unionists who were blacklisted).
If British Gas could, they'd have everyone self-employed and have minimal/no in-house engineers at all. Then they could just pick and choose the cheapest engineers available. Eventually over a few years, you'd end up full circle as the engineers band together in a union and demand better conditions and permanent employment.
@Cameron:
"Yes, the London Stock Exchange does have extended hours trading. The Pre-Trading Session is from 5:05am to 7:50am. The Post-Trading Session is from 4:40pm to 5:15pm.
Shares can always be traded on the London Stock Exchange during regular trading hours (listed above).
Extended Trading Hours are sessions before and after the official trading session during which trading can be conducted electronically. Pre-market trading and after-hours trading generally have less volume than during the regular trading hours and may have different trading rules.
There is limited liquidity during extended hours which can cause increased volatility, larger spreads and greater price uncertainty. Earnings reports and other significant news are typically announced after regular trading hours end. This can lead to major price swings in after-hours markets."
From tradinghours.com (Trading Hours . com)
I had 1500 shares in this back in April. I sold out because I thought I'd have better opportunity elsewhere. How wrong was I! Could have had a 5-6 bag now (if not more)!
If we say 500,000oz, then that is £1,400 × 500,000 which is £700m. Now, assuming an AISC of £700 (just a guesstimation, I am not sure what sort of AISC to expect on a mine like this). We'd be looking at £350m if we got all of it out which is more than 10 times the current mcap of c.£35m. That's not including the premium on Welsh Gold. I'd say we are looking at at least 2.5-4.5p more this time next year based on Welsh Gold alone.
Then we've got all of our projects in Greenland and hopefully we'll get something from Horse Hill (either by our share of oil profits or selling our stake which would be preferable).
Always expect initial resource estimates to be on the low end of the expectations scale. I have learned this with GGP. People there were talking a maiden MRE (Material Resource Estimate) of 10m oz+. Of course many were disappointed when they came out at 1/3rd of that, but these miners will always start low and build up as they further expand their drilling. This does two things:
1. Reduces the risk of being unable to deliver on promised results to stakeholders.
2. Continues building positive sentiment as they increase their estimate over time with more evidence.
Institutional Investors know the game and they won't be overly disappointed with a low initial resource assessment.
More accurately it's because it's traded using the SETSqx segment of AIM.
GGP is also traded on AIM, but trades more fluidly due to the higher volume trading. It is likely there are also Market Makers participating in that security to make money from it (i.e. they are actively offering to buy/sell shares on a daily basis which makes it easier for people to trade the shares).
As ALBA is low volume, there are fewer people buying/selling which makes it harder to make trades. Most of the trades are concentrated during the auctions to maintain liquidity. There are several auctions throughout the day (8am, 9am, 11am, 2pm, and 4.35pm), during those times they try to match the best bid and ask prices which is usually when your trades will go through on 212.
Bigger brokers like IG, HL, and so on seem to have better access to trades and might be able to make off-book trades with market makers or institutions to get your shares faster/instantly. I guess that is where you get what you pay for. I got my ALBA shares instantly through HL before they were available on 212 because I didn't want to miss the best price and I'm glad I forked out the £12 for the trade as I'm now on nearly 6 bags!
Fellow GGP/ALBA holder here. Good luck! Let's hope we both come out of this well! I need a deposit for a mortgage! Up +£1,900 on GGP (7,300 shares) and about +£600 on ALBA (260,000 shares). I'm hoping to get to a target of 5p on ALBA and 70p on GGP by Dec '21!
I also have holdings in BPC, GWMO, and KOD which are my high-risk investments that I'm hoping one will pay for the furnishings!