The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Who'd have thunk it?
With all this next day gas price a coming we needed another placement?
Let's hope the "management" haven't f'ed up these reserves figures again, lol.
All IMHO of course.
Please continue, always ready to learn.
Let's just start at the whole capital structure of the company peak??!!
"atrocious strategic decisions" - such as? Difficult circumstances has forced their hand over a certain period - and once vital funding via the BH company was achieved, they have steered the ship pretty well in my view - and as an LTH I was delighted that the cheeky 20p bid was swiftly rejected.
It is the time value of money Stu.
I could have got substantially better returns than current share price as it stands had the 20p bid gone through, than currently, had it been invested in certain areas of my portfolio however I kept some of mine and that is price of maintaining spread of risk I suppose?
Either way am in some profit here but certainly think a different mgt team could have produced (far) more value for share holders as there have been some atrocious strategic decisions made here IMHO.
Yeah - funny that stu! I think its called myopia - or shortsightedness in working man's language. The guy making the bid will need to double that now or get laughed out of court.
IOG was clearly undervalued even before the recent rise in gas prices. The undervaluation was ,and still is, driven mainly by the 29.9% LOG administrator overhang (and they have to sell at some point ). They will be feeling good about their decision to be patient (which incurs continued administration running costs), and the market is beginning to find it impossible to ignore the valuation gap - particularly when analysts recalculate short term cashflows post first gas. LOG will exit in the medium term (1-2 years) or sooner if they get a premium offer. The block might get placed with institutions, but my hunch is that it will go to an industrial investor looking for gas reserves and an operating infrastructure. CAL energy will be watching events like a hawk - they will get a call if and when the block changes hands. However it plays out, things are about to get interesting.
The people telling us that the 20p offer was good seem very quiet these days...
Good start so far.