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........update in the morning then. Could well be another month extension.
Interesting contract award there. Wish they'd quoted the actual financials involved, seems a bit ambiguous but it's good news nevertheless.
It is. People are talking as if they are a dead duck. Day rates and transport of vessels site to site are a big factor. The banks seem very co-operative to help let themselves work the debt off in what can only be described as a "lean" period with chartering and rates.
I personally think things are back on their way up. They're at 73% utilisation for the whole of 2020, which is more than 2019 had at any point. If they can get a few more of their vessels chartered they should be able to start meeting future convenant tests and eventually paying off their debt. The new board seem to be working hard to turn things around.
I sincerely hope not.Some of those vessels are in excess of 1000 tonnes.
Reality is there a very new fleet, costing hundreds of millions. One company has already sold only a percentage of just one vessel to try and buy in at 18pps. With a assets In the many hundreds of millions and a market cap of tens of millions, it more likely a case of buying the forest than timber.
It's going down, I'm yelling timber
No cash
Pity the day rates are not improving but looking positive (if slow going).
Happy New Year
Continued positive news.....just hurry up and announce the new banking arrangement as well then, so we can all move on!!
Just keep it on topic ES and all will be fine.
You are so odd - Never posted/held URU/MOS?
Wasn't it not URU where you earned your funny nickname after haunting the board for a couple of years?
Anyway, I'm sure the good people of GMS don't want to listen to this tripe - apols.
Don’t pity me ES, URU down, MOS down, CLNR down, AAOG down, GMS down. You can arffff pick um. Lol
It never takes long for each board to work you out, aimless. I pity you.
URU, MOS, CLNR, AAOG.......GMS
Why don’t you just talk about the stock ES? You don’t need anyone to hold your hand do you!
How do GFD?
It's just a timewaster (that's the polite term), with a curious interest in other people's trades, rather than their own. I think you are familiar with the type.
it takes all sorts!
Short term or long term they can’t pay them down or meet any attached covenants. The roll over given by the syndicate is so they can sort out a solution to a problem that GMS themselves can’t get out of, they’re in a viscous spiral now. See what happens by the end of the year.
By the looks of it Seafox haven’t been quiet and GMS didn’t like it. I suppose $10m in cost savings is a start but it won’t make a dent in the debt, they can’t sell any workable assets to reduce it and they aren’t making enough fcf to pay it down. So the only other way is a d4e to achieve a longterm sustainable solution to the the balance sheet to free up some cash. It’s that or the lenders pull the plug then I’m sure Seafox will end up with some of the assets anyway.
Seafox wanted the fleet and I can't see much has changed from their perspective, utilisation rates seem to be creeping up as well. Roughly assets of 400m, debt of 400m and a c. 56% forward order book you would hope provides a decent premium from current share price for a bid. With so many small sell orders over the last few months it feels like there is something wider afoot. I am obviously talking my book though, so have somewhat tinted glasses!
That's a valid concern there Amtech, but that's the gamble! We're a little way from that yet and the new BOD has an opportunity to shine - let's see if they can carry on with this more positive trajectory. What's your take on Seafox's position? I can't see them staying quiet forever.
Problem is all they are doing is working to pay the debt, all 400m of it on less revenue than before. Could be a big D4E coming up here after failure of covenants again.
The new broom is certainly working better than the old one. Baby steps, but at least positive!
News flow continues in a more positive direction. Announcement of financing arrangements soon hopefully and then a decent move upwards........please!
Hi everyone, haven’t checked the shares in a while and seen that gulf has dropped significantly from what i bought in at 18p could anyone please get me up to speed and do you think it will get back to mid 20s? Thanks
All Bot controlled. SP has been manipulated throughout the year. The puppet master decides when the SP will return to levels that reflect true value. It's always after the lions have had their feed on cheap shares.
Yes there has been a large amount of people who have sweated it out or been shaken from the tree and will be glad today.
Notice the sell of 45k worth of stock.
That didn't push it down.
There's only been 160k traded. I think your looking at short pst closing out (1 month).
If there mm held they do not need to be reported. My guess GFD. (More rises to follow or a trickle up) as shorts close possibly? Expect a climb. ONLY 170k in cash traded ! so hats my guess. sry "that" not hat.
https://www.fca.org.uk/markets/short-selling/notification-and-disclosure-net-short-positions
PVR... and GMS.....my oil based picks are hardly top draw I tell you........so I could be wrong.
At 9p, something afoot?
Suddenly shot up 21%.....