George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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little recovery but nothing compared with likes of tlw and we have no debt..
Not $20 million in cash at all....$14.2m of cash and cash equivalents
$14.2m of cash and cash equivalents, and oil and gas inventory of approximately $2.4m in value, held at 31 March 2020.
· Group is debt free after the final bond payment of $5.8m in February 2020.
They will do when latest asset sale goes through... and they only now don’t have as they paid off their bond... they are incredibly Bk my asset rich. What he did forget about was unb stake which is worth circa 20m usd.
From the end of Year results:
2019 Highlights
§ Revenue up to $101.7m (2018:$92.9m) thanks to increased production volume in Ukraine, despite lower gas prices.
§ Profit before tax up to $30.4m (2018:$14.0m).
§ Cash generated from continuing operations up to $41.4m (2018:$37.3m).
§ Year end cash position of $20.6m (2018:$19.2m).
§ Final bond payment made February 2020, making the JKX Group debt free.
§ Average daily production up to 10,748boepd (2018:8,
§ In Ukraine, production up more than 50% to 5,584boepd (2018:3,677boepd) due to continued execution of development plan.
§ In Russia, well workover programme completed and average production maintained at 5,158boepd (2018:5,169boepd).
Notmyjob do you even read most recent company report which was quarterly on 15th April? don't rely on twitter info that someone spreads. Cant you even read 3 messages below yours? There is a value here but lets get the facts right - they do not have $21M in cash!
Plus the fundamentals of the company offer so much moving forward.
Final results in March 2020 were truly impressive.
Debt free
10 748 boepd equivalent
Mcap US$46M
Revenue US$102M
Cash US$21M
Good news for OPEC means a good week for us!