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I agree with you 50 glass, this was a good looking oil hardware company, now it's seems to have turned into a dodgy African mining investment company and not even one that's profitable. Is it an old mate of Dunks has his total power in THAL finally caused him to loose the plot, is he going senile. If you read his waffling at the year end results RNS it's really quite disturbing and IMHO inappropriate to turning this around. I cut my small losses on this and switched it into DX. there results are out I think next Friday and dropped form 90p this year to 18p on good will write downs and not getting planning permission for their Reading Central Post HQ. The Directors loaded up just before the 3 month closed period so I reckon I might be onto a nice move here....Let's see.
if they have fun money surplus, why don't they return it to shareholders????
Perhaps they'll have more to say about it with the Interim Results, due fairly soon.
interesting to hear strategic rationale for investment in pml ..critical point is what next for cash pile ?????????????????????
Good morning, 50glass. I thought it looked like a bit of a bargain. They've clearly researched it : "We have been monitoring this company for a number of years and believe that this is an opportune time to acquire a sizable position therein." Still, you may be right, time will tell...
Today's announcement suggests we have fallen into that frequent trap of Africian mining promises.
Apologies for board hopping; but ! The petition is going quite well; ~5850 signatures so far. ONLY 4 weeks to go !!! https://petition.parliament.uk/petitions/112044/sponsors/frRbCOsOLO6QqIN82UOX If you hate seeing buys reported as sells etc!!!!!! Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog. If you follow tweeters etc, send it to them please! If this petition doesn’t reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. So – If you haven’t yet signed or indeed have but haven’t passed it on to others, then now’s the time to do so.
With our contracts in $'s, surely they have just gone up in sterling terms for us ?
Share buy back....
More director buying from DS just announced - that's £33,000 spent in the last 3 days in 3 separate buys. Hopefully this augurs well for contract news at some point: Http://www.investegate.co.uk/thalassa-holdings--thal-/rns/director-s-dealing/201605050700142854X/
The petition is going quite well; 4000+ signatures so far. Although it really needs a turbo boost. https://petition.parliament.uk/petitions/112044/sponsors/frRbCOsOLO6QqIN82UOX This petition was stalled in parliament since 12th Aug 15; finally green lit on 12th feb 2016. The FCA don't even reply on the matter, now is your chance to have your say. If you hate seeing buys reported as sells etc!!!!!! Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog. My local MP supported this petition by writing to the petitions committee to help un-stall it. There’s 650 MP’s in Westminster, So have you written to your MP? 649 to go! If this petition doesn’t reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. So – If you haven’t yet signed or indeed have but haven’t passed it on to others, then now’s the time to do so. We really need a social / media savvy individual to help generate more interest in this.
I'm mystified as to why the sp is so far adrift of the cash value. Looks like I will have to get to grips with the report. Further message to follow.......
With a NavPS of 61p and all the Asset write off's included in the numbers this is very vulnerable to a takeover. Especially with the new Intellectual Property they have now IMHO.
Quite apart from the results, the Chairman's statement today is worth a read. Candid, clear and considered words.
Quite apart from the results, the Chairman's statement today is worth a read. Candid, clear and considered words.
they have increased cash by $6m in the last 6 months and have bought back 1m of its own shares. Anyone have anything without mentioning Oil that justifies a market cap below its cash position. seems to be ticking too many boxes for me.
£12mill in the bank and accumulated losses of £3mill, wood group could swallow this for breakfast..
Cash at 31 December 2015 amounted to $20.2 million. and the market cap is £7.7m funny times
bottoming...quite impressed by cashflow...not draining away quite yet
Today's ConocoPhillips contract is excellent news - with a nice 5 year initial term too. The trading update is good too given current market conditions - forecast revenues for this year of $18.5m are well up on last year's $15.5m. Next year's revenues already have a base of $8.8m, with $11m in 2017 already secured. The RNS could have been better written, but I'm pretty happy on first look, with around £12m in the bank against an £11m m/cap.
It's swimming in cash and even made a small profit in the interims in a difficult market with a bad debtor. Cash and assets that are likely to be over depreciated 20% per year (5 years zero book value, but large intrinsic value). Putting all those positives aside we have 102p Nav / PS. This is so prone to a take over it's surprising not been subject of a bid already - IMHO Sit tight and hold this one, I think it will be a gem of an investment. It's oversold like anything to with oil exploration but that's not their only bag.
Today's RNS shows that total cash is £12.5m, at current exchange rate. Surely the business is worth something?
Game changer on costs and clarity of seismic mapping, if it works and works reliably in different and difficult sea conditions. If successful, will probably be put to other non-exploration uses. Like the no-debt, cash-rich position of the company but as the Chairman warned in interim results statement tough times are ahead for the industry through 2016.
Think it means 'game changer' for seismic recording
Not a clue what it's on about....