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Always positive when directors buying....even if it's a measly pocket money....:)
Actually, he was also buying around 3p, similar price to me. But we all know you didn’t buy any - ya missed out. Loser :)
Bless him, he’s doing his best to raise the sp to minimise the dilution from the $50m raise.
Exec chairman buys (again).
Whereas you’re a total tool, aren’t ya.. The shares have gone up materially in recent months. Many here have benefited. You have not. Loser :)
Is that all you’ve got, using what I’ve already said? I like the way you also make out I’ve lost, that’s impossible when I don’t have funds in here, not the sharpest tool in the box are you.
Yes, I can imagine you wee yourself regularly. Always happens when little people are beaten and have no answer :)
PMSL even more
I’m very much playing the ball amtech, and it has been placed in your net quite a few times. Please look at the score - the shares are currently 50% above where you started getting your knickers twisted and discouraging people. The reason you are losing is simple - you underestimated the impact of contract news and a rising oil price on the markets risk/return perception of GMS, preferring instead to focus on potential negatives. It is quite likely now, that even in the event the issue does take place it will be above the 3.8p where you started discouraging others, and one may need to own shares to participate anyway. So with an eye firmly on the ball - looking at investment returns and who predicted what - you are not looking clever right now. Surely there is a board somewhere where you’ve called something right?! … or is being 50% offside the best you’ve got.. ATB
PMSL
Ok muppet.....take that condom of your head and read properly
They were at $375m net debt at June 2021, the last disclosed figure. From that day till Dec. 2022, there is 18months
In 18months, they will have generated c.$120m in EBITDA and c.$80m in free cash after interest, tax, capital expenditure. That will leave them at c.$300m of net debt by Dec. 2022
Like I said before I never discouraged anyone, punters will make their own investment decisions. I asked about the second part of the fund raise for $50m and you ladies started blubbering, playing the man and not the ball. Still I don’t see you correcting anyone who think $75m ebitda will pay off $75m of debt, wonder why that is? You all know the fund raise is coming, you’re all just not big enough to admit it.
“Always happens when little boys are beaten and have no answer.”… without question, McCatee is currently beating you. Because you were discouraging people at 3.8p and the shares are now 5.6p to buy. In the event a 65% dilution happens around the current price as you suggest, the market cap will rise to circa £90m and the free cash yield will be 30%+. Still sounds like a very nice place to be. ATB :)
I see Arden Partners Plc have been brought in to Challenger Energy on their fund raising as broker and book runner.
Maybe your rocket ship is ready to take off to one of the planets that are aligning up!
Guess we will just have to watch it all play out this year to prove it to you. But I will buy of few shares for you so you don't miss out on the 12p
Sticks and stones Mcatee , always happens when little boys are beaten and have no answer.
Just get on board the rocket donkey! We will explain later
Well you boys and girls can stay with your ebitda numbers I’ll stick with profits the company makes which is what services the principal debt. Let’s see how much the debt reduces on the 2021 figures before starting to add in the next year’s guesses, unaudited results were in May last year so a few months to go yet. One thing is for sure they won’t reduce it by $75m for 2021 or 2022 without raising $50m of new equity, which at todays Mcap is around 65% dilution.
Have a nice day
18months is from mid 2021 to end 2022. We have the net debt figure as of mid 2021. (guess its too late to go back to school)
Also end of 2022 is the deadline to raise the $50m
I think Amtech needs to go back to university and do a few courses in basic accounting and finance. Or perhaps back to primary school and learn his (or her?) arithmetic
So now it’s 18 months worth of ebitda? It’s a wonder they didn’t pay it down over the last 5 years with the $323m of ebitda they amassed and didn’t spend then!
Wonder how they’ll get around the t&c’s of $50m of new equity as per the restructure?
1. Net debt was 377m as of mid 2021
2. $40m (already in the bag) in second half of 2021, and midpoint of $75m in full year of 2022 = $115m of EBITDA in 18months
3. $20m interest, $5m tax, $10m capital expenditure over 18months = $35m
4. $115m - $35m = $80m in net cash generated (assuming no working capital needs)
5. Net debt of $377m - $80m = $297m by Dec 2022 (+/- $5m depending on where 2022 EBITDA is)
This is in line with Panmure Gordon's research note. Not the greatest scenario, but much healthier balance sheet which should help them to avoid the $50m capital raise
Average ebitda guidance stated in the trading update was $75m. You stated the $75m should help to reduced the debt to c.$300m by the year end, that is not possible with net bank debt standing at $406m especially when they take into account the interest, taxes and depreciation that have been added back in.
Depreciation is not a cash movement!!
So out of the $75m EBIDTA in 2022 and the $40m EBIDTA in last 6 months of 2021, they only have to pay interest of $20m approx (18 MONTHS) and rest can pay off loans. SIMPLES!!!!!!!!!!!
Now will someone please cancel him