Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I realise some people do not have a high opinion of SMS, but in my book he is nobody's fool and I do not believe for one second that he would have deliberately issued a false trading statement for S4 Capital in January. He would be risking imprisonment and loss of his knighthood if he did. I am therefore inclined to regard the delay as little more than a hiccup, possibly attributable to concerns on the part of PwC that they have to get things absolutely right or risk a colossal fine. If they are pleading that the delay is partly attributable to covid, is that so incredible? Do we seriously think they would lie in that way? I'm certainly not selling and may yet buy more, although I am looking elsewhere too. But do not underestimate SMS. He is now approaching 80 and certainly does not need money. Why is he still working, we might ask. I think he's determined to show WPP that he is better than them.
Johnny, it seems probable to me that the issue of more shares to fund acquisitions has prompted recent drops. I consider this a buying opportunity and am not alarmed. There seems to be good support around the 500 mark.
Couldn't agree more, Brighty 1. As I have stated before, my only concern is that Sir M is now 75. We have to factor in the risk that the Grim Reaper might call any time, but then again he might go on and on like Warren Buffett. I think we just have to hope and trust that he will have a worthy successor in mind. Being a good business-man I would expect him to be alive to that risk. Meantime I think he will go on building the business and that it will take a while for his new investments to bear fruit. That said, he seems to me to have great foresight and to know what he is doing. I shall continue to buy in over the coming months.
There will.be, I think, many bumps on the road ahead towards recovery of the world economy and it very much appears to me that Sir M is focussed on the long- term. He is now 75 years of age, and of course that is a risk factor but not a huge one IMHO. It seems to me that we investors have a choice - stay with the man who built WPP despite ups and downs or take your profits and run.
I think this is a share which will grow slowly but enormously over the years so I have stuck my holding in my ISA. Sure there will be ups and downs - that's the nature of the beast - but what I hope for and expect is that this share will steadily increase in value because Sorrell is a grand-master in this game and is planning to build a new empire. Indeed I suspect that he has long-term ambitions to take over WPP. In the short term, of course, some of the market chases quicker money elsewhere, but do we really, really think that Sorrell will rest content in the FTSE 250? I do not. I think this is a "get rich slowly" share and I shall continue to purchase it as good opportunities present themselves.
Just read about Mervyn King's warning in his speech in the USA. I think this has caused a hiccup in the market-place but such events are opportunities not air-raid sirens. Watching price fall with increasing interest and finger hovering over "buy" button.
I suspect this is just profit-taking and not a red flag. I'm staying in and may buy more on further weakness. I feel this is a good long-term hold so I've put my holding into my ISA.
I tendvto agree that Sir Martin is a man on a mission. He is now 75 years of age. If he earmed what he is said to have earned in his last three years at WPP, then, together with his outstaning share options, he is likely, I would have thought to have £1m per year to spend even if he has 25 years left on this Earth. Something must be driving him on. I thinl it is simple. He has built a huge company once and he feels strong motivation to do so again. I like that.
Why would a man like TC, who made such a huge success of Dana (and who, I suspect made a shedload of money himself in the process) embark on a new venture such as Parkmead? Now, I don't really know, but I think ambition and specialised knowledge may well explain his continuing drive. Is this hubris? I would have thought it unlikely. Rather, I suspect, TC is determined to prove himself again, as I believe Sir Martin Sorrell is endeavouring to do at S4 Capital. Of course, I wouldn't put all my money into oil, but TC is looking at gas supply as well, and it is difficult to believe that we shall not be gas-dependent for many years yet. Of course the market is entitled to hold back and say "prove it" to TC, but I just cannot believe that this successdul oilman would waste his time on any misplaced projects. I'm no ramper but it just seems common sense to me to suggest that Parkmead is a good bet for the medium to long term. I don't really have much to add to these thoughts, so I doubt I shall be posting again and therfore I take this opportunity to wish all my fellow shareholders here many happy returns on their investment.
With reference to your concern, Stumbler, IC of 28/8/20-3/9/20 had an article about investing in hydrogen production in which it was explained at p. 27 that Air Products (U.S. APD) had teamed up with Saudi Arabian ACWA Power aiming to produce 650 tonnes pf H2 p.d. which would be converted into ammonia for export and then "cracked" back into hydrogen once it reaches end market. Sounds fairly simple. Hope this helps.
I am truly sorry that you have lost money on this project, whether your losses are huge, large or small. Please don't do anything silly. Speak to the Samaritans, go to your doctor, be honest with your family and friends. I think back to the farmers who committed suicide after they lost their herds in the foot-and-mouth outbreak. There was no need at all for such desperate action....and there is not now. No matter how great your loss, you are still alive, life has meaning and value, and although there are many shameful horrid trolls on this board and elsewhere, there are millions of good, honest, helpful, sympathetic, idealistic people around. Seek them out if you need help and support. There is beauty everywhere - in people, in music, in poetry, in art, in nature and in our lovely countryside. Strive to be happy.
Unlikely IMHO. This project is but chickenfeed to AA. And if they were to walk away then their projected capex would improve. I would love to be wrong for the sake of all who have lost their hard-earned here, but that's my belief.
Dear OldRascal,
I am heart sorry to learn that you have lost money, although it sounds as if you were restrained in investing in SXX. From the bottom of my heart, I hope you and all others who have lost money here survive with their mental health intact. It may not be sp in your case, but it would not surprise me to learn that some who have lost money here are now experiencing the downward spiral of depression. This is a cruel progressive illness which can be cured in most cases over time with the careful prescription of medication. Anyone so suffering now should consult their GP without delay. I wish everyone in that boat a full recovery.
I understsnd how bitter you must have felt when that toad had you dismissed - really I do, having been let down treacherously myself by someone whom I had helped to advance himself. I encounter him from timt to time at funerals etc and he comes up to speak to me only when he knows others will be in attendance too. I think he is still trying to lord it over me after almost 20 years. He is of course a psychopath, roundly hated by many whom he has wounded but still very powerful. I'm arraid all you can do is move on, and try and enjoy the company of your family and true friends. Best wishes.
It seems obvious to me that if CF thought there was the slightest chance of another bidder materialising, he would not be recommending acceptance of the AA offer. He is losing money too and is trying to retrieve what he can - just look at how many shares he and other directors own, and when and for how much they purchased them.
Heart sorry to read of your troubles, divermitch. Hope you manage to recover something in the years to come. Best wishes.
sounds defamatory to me, and could lead to an award of damages. Surely there are more sensible ways of expressing one's feelings? I am heart sorry for those who have lost money here, really I am, and I understand their anger and sense of outrage, but resort to defamation or, worse still, criminal actions, is just not on and those who seem that way inclined need to contain themselves and act more wisely.
I am trying, with little success so far, to convince myself that the BoD are not playing ducks and drakes with investors. How can they recommend acceptance of the Anglo-American offer and suggest, supposedly realistically, that other options might still be available? As I understand matters, Sirius is running out of money fast. And they have been looking for other sources of funding for several months now, without success. I must say that my thoughts about the BoD are now moving in a less charitable and more sceptical direction. What IS the point of this suggestion in the letter given their advice to accept the offer? Sounds like equivocation to me, but who am I to argue with the authors of this mess?
CF owns almost 124 million shares - which means that a rise of 1p increases the value of his holding by over £1 million. I doubt he would be recommending the AA offer if there was any real prospect of any increase in the offer or another offer. Heart sorry for all who are suffering here. Wish I could be more positive.
I wish very dearly that I was able to offer some hope to all those LTH's who are suffering but I do think that were some other paries to be genuinely interested in bidding for SXX, we would have heard by now. I realise that 5th Feby is some way off yet, but where, I ask sorrowfully, is there any serious evidence that another bidder might emerge? I ask this question because, if as reported, CF is preparing to recommend the AA offer, then his own holdings in SXX will have taken a huge hit, a situation he would not require to contemplate were there to be anohher bidder in the wings. Sorry indeed to be so pessimistic, but enough people are suffering because so many hopes and dreams have been shattered already. It would seem terribly cruel to raise further hopes which prove to be unfounded. Further, on this matter, so far as I know, we are not being told what position, if any, CF is to be offered in any AA-owned entity. I suspect that the AA will be formalised quite soon and recommended by the BoD. I just do not see any sign of a serious bidding war emerging. I wish with all my heart for the sake of all LTH's I could say otherwise, but I just don't see it.