Great news that NCC approved Tinkers Lane yesterday but I'm concerned that four months after Misson was approved at committee there is still no knowing when a planning notice will be issued. Then there will be the inevitable Judicial Review challenge that the restrictive covenants raised by foe were incorrectly interpreted by the committee. Has igas bod got Cuadrilla nod courage to ignore the JR challenge and get on with pad development? If they don't then Misson slips in to 2018. I'm further discouraged that igas could not name a rig for Tinkers Lane drill.
That's an important news. Probably those planning to take over IGAS will profit from this and their SP will spike. But no stake for shareholders with the position IGAS in today. Creditors priority will govern such a deal and shareholders will further loose / may be able to get out of current level in best case. I think creditors will push for such takeover move as with current IGAS status. :-(
A bit of thinking out loud . The current sp @4.5p values the company at £13m . I.e. Number of shares in issue x sp = value . Off a high of 21p the value of the company has 1/4rd. The new shares raise about £60mil cash also @4.5p per share . The value of the company is the number of shares in issue x sp , sp it doesn't really matter how many shares are in issue , if the value of the company rises the sp will go up ? Am I correct ? This must be undervalued if they're raising £60mil and you could in theory buy the company for £13mil. And they have just secured planning permission so future profits will start to be factored in.
Better to have realistic expectations. I recon just get rid of the shares and nothing will be produced until next year to lift the SP. Gain of approvals now proved to be worthless as seen by SP move today. More or less, won't go beyond 8p for months which is been avg price for 1 year. Get rid early or see diluted for less than penny soon. :-) Will be different story after 1 year and when revenue starts to flow-in if at all IGAS hold until then.
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