Re: Bokoni mine mothballed I totally agree with what you are saying but I also think it is an indication of the colossal investment mistakes some of these companies can make.They appear to have invested billions on assumptions about the future price of PGM 's only to have been grossly wide of the mark.But they have also mothballed a facility which can be started up again if prices rise in the future ?
US weighs financial sanctions to hit Venezuela's oil revenue, sources say US weighs financial sanctions to hit Venezuela's oil revenue, sources sayThe United States is considering financial sanctions on Venezuela that would halt dollar payments for the country's oil, according to a senior White House official and an adviser with direct knowledge of the discussions.The move could severely restrict the OPEC nation's crude exports and starve its socialist government of hard currency.Sanctions prohibiting any transaction in U.S. currency by Venezuela's state-run oil firm, PDVSA, are among the toughest of various oil-related measures under discussion at the White House, the two sources told Reuters.The administration aims to pressure socialist President Nicolas Maduro into aborting plans for a controversial new congress that critics say would cement him as a dictator.Venezuela's oil-based economy is in the grip of a brutal recession and a local currency crash, and Maduro has faced months of anti-government unrest that has claimed the lives of about 100 people. Sanctions on dollar transactions would make it even harder for Maduro's government to secure cash for debt payments and finance imports of basic goods.The White House declined to comment on the sanctions under consideration. PDVSA and Venezuela's Oil Ministry did not immediately respond to requests for comment.The U.S. measures under discussion are similar to those that were imposed against Iran over its nuclear program - which halved Iran's oil exports and prevented top crude buyers from paying for Iranian oil.The measures were seen as among the most effective economic sanctions ever imposed and paved the way for a deal that curbed Tehran's nuclear activity.Measures on financial transactions would give President Donald Trump's administration the power to escalate pressure on Venezuela by threatening punishment of any U.S. firm doing business with PDVSA or U.S. banks processing any of its transactions in dollars.The financial restrictions have been "raised repeatedly" in recent discussions about options for actions against Maduro's government, said the senior White House official, who spoke on condition of anonymity.The administration is also discussing a ban on U.S. oil imports from Venezuela, but no final decisions have been reached, the official said.Sanctions on dollar transactions could be more punitive than an import ban because they would make it much more difficult for any refiner or trader to buy Venezuelan oil - not just customers in the United States.The impact of sanctions on PDVSA would ripple across oil markets, forcing refiners to buy alternative supplies. The U.S. could use crude from its Strategic Petroleum Reserve (SPR) to blunt the impact of any short-term supply shortage, the policy adviser told Reuters.The United States bought 780,000 barrels per day (bpd) of Venezuelan crude and refined products in the first four months of 2017, according to the Energy Information Administration,nearly 8 percent of total imports. PDVSA is a major supplier to Valero Energy, Phillips 66, Chevron Corp and PBF Energy.PDVSA's refining unit in the United States, Citgo Petroleum, last month was the second largest recipient of Venezuelan crude.It is unclear how Citgo, being wholly owned by Venezuela, would be impacted by U.S. sanctions. Citgo operates three refineries, pipelines and a fuel distribution network in the United States.The threat of sanctions against Venezuela was a key reason for talks this week between PDVSA and Rosneft, Russia's leading state-owned oil firm, which is already under U.S. sanctions. The negotiations in Moscow, reported by Reuters earlier this week, focused on a proposed swap of Rosneft's collateral stake in Citgo for a host of other Venezuelan oil assets - a move to avoid legal complications.Barter deals create cash crunchThe White House said earlier this week that Trump's administration could take what it called "strong and swift economic actions"
Re: looking weak Bob's wise words. Rule 8 is also interesting. If true then looking at Brent's chart the recovery from oil's bear market began in January 2016. That low sucked in our historically largest declared short position (by percentage) which eventually peaked at 4.80% on 04/08/2016 having been emboldened by the bottom. If you believe rule 1 (which I do) oil is now looking for the mean, which should be around $73 until it goes into another Rule 2 oscillation.
Re: Medusa Share Price - Aus$0.305 (19p) Latest Price - Aus$0.305 (19p)
Re: Bokoni mine mothballed About 1.9% of global annual production, not insignificant. Plus is a good indicator of how Platinum companies are suffering..
EP dilutes again In current environment of ever-rising asset prices & negative interest rates, is this not a fine example of a resulting mis-allocation of capital?
Re: Atrush feeder line "Does this look like a 10" (12"?) going into an 18"(20"?) to anyone?"There is a man working on the pipe, and taking the length of the mans torso into account then saying a torso is around 27" - 30" on a normal chap, I'd say it is a 12" going into a minimum of 24".
Re: Next weeks news... Hi Mat, I hope you are right about the dilution but the problem is as follows: Our market cap is circa £330m and the company said in 2015 that the infrastructure would cost $1.38BN which is circa £1.1BN. Now if the Russians would pony up with the money for the road or even provide interest free loans that would be a game changer. In the absence of that any one buying us knows that they need to additionally fund the infrastructure. On a commercial basis if you were putting up essentially 25% of the money for a project you would expect the person with the 75% to call the shots especially if your 25% was dead in the water without the funding. A takeover from here would typically give a 50% uplift = 9p. Dilution from here could see us short term down to 2p but long term if the mine succeeds you would expect massive returns. Top of my wish list therefore would be state funding which would give no dilution and the SP propelled massively short term. I think though that if this was going to happen we would have seen the SP move (its AIM!!). My expectation therefore is loans and dilution and I cross my fingers that short term it won't be too painful for the SP because I believe that the market has already priced this in hence the move from 15p to 6p (a 60% drop precisely the same as SXX when it went through a placing 50p down to 20p). GLA DYOR
Re: Prev - Buy backs I totally agree with your comment re deramping and number of shares, but now down to the serious stuff . Keep the jokes coming , Critterman.
About time, too! - drones. The EU aims to have rules in place by 2019. For a while I thought that governments would await a serious drone/airliner incident, or two, before taking action."The UK government has announced plans to introduce drone registration and safety awareness courses for owners of the small unmanned aircraft.It will affect anyone who owns a drone which weighs more than 250 grams (8oz).Drone maker DJI said it was in favour of the measures.There is no time frame or firm plans as to how the new rules will be enforced and the Department of Transport admitted that "the nuts and bolts still have to be ironed out".The drone safety awareness test will involve potential flyers having to "prove that they understand UK safety, security and privacy regulations", it said.The plans also include the extension of geo-fencing, in which no-fly zones are programmed into drones using GPS co-ordinates, around areas such as prisons and airports.'Protect the public'"Our measures prioritise protecting the public while maximising the full potential of drones," said Aviation Minister Lord Martin Callanan."Increasingly, drones are proving vital for inspecting transport infrastructure for repair or aiding police and fire services in search and rescue operations, even helping to save lives."But like all technology, drones too can be misused. registering drones and introducing safety awareness tests to educate users, we can reduce the inadvertent breaching of airspace restrictions to protect the public." (And that should include sound controls and outlawing/preventing their use over private property - Lupo)There has not been a significant accident involving a drone yet, but there have been several reports of near misses with commercial aircraft. There have also been incidents of drones being used to deliver drugs to prison inmates."Registration has its place. I would argue it will focus the mind of the flyer - but I don't think you can say it's going to be a magic solution," said Dr Alan McKenna, law lecturer at the University of Kent."There will be people who will simply not be on the system, that's inevitable."Similar registration rules in the US were successfully challenged in court in March 2017 and as a result are currently not applicable to non-commercial flyers.Dr McKenna said there were also issues around how a drone's owner could be identified by police and whether personal liability insurance should also be a legal requirement in the event of an accident.DJI spokesman Adam Lisberg said the plans sounded like "reasonable common sense"."The fact is that there are multiple users of the airspace and the public should have access to the air - we firmly believe that - but you need systems to make sure everybody can do it safely," he said."In all of these issues the question is, where is the reasonable middle ground? Banning drones is unreasonable, having no rules is also unreasonable."We're encouraged that [the British government] seems to be recognising the value drones provide and looking for reasonable solutions."
Re: Prev - Buy backs Buyback pros & cons...[link]
Re: BARC COMP - S12 W15 OPEN Your guesstimate of FRIDAYS UT closing price in numerical order, with the ** LOWEST ** at the top. Open till SUNDAY 9pm. Please hit the refresh button before entering and check all is well afterwards. Thank you202.00 indolent202.50 vtec207.75 jackdawsson208.85 Clodpool211.86 mcn2000 214.00 Callun219.00 lossmaker2220.00
the tmes A good article in the business section of the Times ths morning and Kodal gets a mention
Re: Trading Statement AO makes a loss on the items it sells but hopes to make a profit from selling warranty insurance. Refuses to disclose split in revenues between the two which says a lot.A good example of how a company can get away with promising 'jam tomorrow' for quite a while before people wake up and realise it's merde sandwiches all round for share holders.
LSE Alot of crazy talk on LSE better not read that again i may start believing it myself
Latest from the Community...
Latest from the Community...