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Parkmead Share Chat (PMG)



Share Price: 35.75Bid: 35.00Ask: 36.50Change: 0.25 (+0.70%)Riser - Parkmead
Spread: 1.50Spread as %: 4.29%Open: 36.00High: 36.00Low: 36.00Yesterday’s Close: 35.50


Share Discussion for Parkmead


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Isengard7
Posts: 3,026
Off Topic
Opinion:No Opinion
Price:35.125
relinquished licences
18 Sep '17
funny how they like to release RNS on winning new licences. But seldom notify us of the ones they relinquish.

Just shove a little note in the accounts and hope nobody notices it or complains about it.
 
Isengard7
Posts: 3,026
Off Topic
Opinion:No Opinion
Price:35.125
Diever West
18 Sep '17
allocating the capital to Diever West would bolster their balance sheet.

instead they waste millions on pointless oil licences which inevitably slap their P&L like a wet fish.

why not give the oil licences a back step. Or is the management that incompetent. I invested in this company nearly 2 years ago, thinking that PMG had a decent management team.
Isengard7
Posts: 3,026
Off Topic
Opinion:No Opinion
Price:35.125
RE: PMG and Tom Cross
18 Sep '17
Diever West is low risk. PMG management team are incompetent.

Believe me If I could turn back the clock I wouldn't have bothered with PMG. Waiting for dead cat bounce for my exit then I am out of this treacherous company.

PMG's finances are run inefficiently. Their losses are largely due to impairments as they have had to relinquish licences. They accumulate pointless licences, waste money on them and don't focus projects that matter like Diever West.

interim results that we had back in March.

Note 2.

Impairment of exploration and evaluation assets. impairment charges of £2,409,000 recorded in respect of
exploration licences relinquished in the period.

Note 2 and 3, resulted in them making a net loss. That's amateurish stuff; not sure what they are thinking lol.

This is company is not as low risk as people think. why waste millions on these very risky licences. why not concentrate on Diever West. its poor allocation of funds that annoys me the most about PMG.

They won't make a net profit at year for 2017. They have got too much impairment to release into the P&L. There is likely to be considerable bloatage in their admin expenses as well.

you can pretty much write the rest of the year off. 2018 will be a 50/50 depending on whether they allocate their capital to the correct projects.
Isengard7
Posts: 3,026
Off Topic
Opinion:No Opinion
Price:35.125
RE: PMG and Tom Cross
18 Sep '17
lol you carry on investing in companies with "excellent websites"

meanwhile I will try and avoid companies with "excellent websites" that lack substance
Pherber
Posts: 59
Off Topic
Opinion:No Opinion
Price:36.00
RE: PMG and Tom Cross
18 Sep '17
If you're in then it a 'screaming hold'

If you're out then it's a 'screaming wait'
Forkliftseller
Posts: 330
Off Topic
Opinion:No Opinion
Price:36.00
RE: PMG and Tom Cross
18 Sep '17
They were saying that when it was over £3............................
Sonofthebull
Posts: 685
Off Topic
Opinion:Buy
Price:36.00
RE: PMG and Tom Cross
18 Sep '17
It's a screaming buy !
MaryMullins
Posts: 429
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:36.00
RE: PMG and Tom Cross
18 Sep '17
You are perfectly right Pherber but that will not stop us having the occasional whinge. One thing for sure it is highly unlikely that TC will change his modus operandi any time soon.
GLA.
Pherber
Posts: 59
Off Topic
Opinion:Hold
Price:36.00
View Thread (3)
RE: PMG and Tom Cross
18 Sep '17
I mostly agree.

PMG is a small boat sailing through a pretty sustained storm.

I would rather the crew were below decks keeping the engine running and bailing out than popping up to wave at investors and tell us what we already know.

I know it can be frustrating but if people haven't got a degree of trust in the team and a large appetite for risk then frankly they should have their money invested elsewhere.

Bon voyage
moyon
Posts: 121
Observation
Opinion:Buy
Price:36.00
PMG and Tom Cross
18 Sep '17
Yes, what you say is apposite - I think it was a bit unfair of me to suggest it was a 'hobby business' for him !
I am not sure on what Isengard7's characterisation of their Chartered Accountant is based - seems unwarranted; likewise I wouldn't call the company a 'disgrace'. The company seems to have competent and professional people on board and has an excellent website (compare with Empyrean's - which couldn't be more amateurish).
Similarly to others, I would like to see more informative communication about how the company is doing between the formal reporting periods. However in my opinion, better Tom Cross's approach than, say, what happens at Sound Energy.....




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