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"On reflection" Captain it is all guesswork and speculation at the moment as it is with many stocks and shares, no one will know anything for certain until announced via RNS's. It does appear convincingly clear to me after listening to the latest interview that a partial equity raise seems inevitable, again unfortunately, so waiting patiently for further announcements. GLA.
I guess the market has already discounted a placing in the current SP. Getting Exploitation sorted by end March would see us motoring with drilling contracts, getting Heron-1 oil flow connected to the Petro China grid and proceeding with Heron-2 and 3 and 4 before to Winter shut-down.
First target for me (on reflection) is 9p by April, and 18p when a successful outcome to Heron 2 and 3 and 4 is realized - imho dyor
Of course higher SP than anticipated would be always welcomed
Ojay, I too would prefer PM to move forward without additional shares issued, if it has to be then so be it. 109m shares is going to be better than the full 20m dollar amount required, I'm still very intrigued as to whom the big player is going to be, I'm convinced it will be PC to also take us forward this year. With the politics of Mongolia coming to the forefront soon (of which I know little about but thanks to spainish I know more than I did) as well, hopefully we can get all licenses and permits in hand and really start to see PM on the up. The next few months we will all have a better idea of the plans that will be played out. GLA
Jimi: If I understand you correctly you are - at least indirectly - saying that the market anticipates a (at least partial) fund raise via placing and that this fear in the market is the reason for the incredibly low SP at this time? If a partial equity increase is required to enable PM's success going forward I'm all for it. Of course - as a LTH - I would prefer a funding option without increasing the no. of shares in issue.
Converted £ to dollar 109m shares is better than the full 20m dollar amount that is required, seems inevitable to me now equity is going to be a part of this year's plans, unfortunately, good to hear that maybe Fox and the raptors are still on the cards for 2021, still the long game for me. GLA
(25m mcap) Divide shares in issue by 5, 134m, to get £5m at 3.5p = 145m shares to issue? and whatever pound to dollar exchange rate. That's if equity route is taken, could be more, could be less,i would prefer less, can only wait and see, GLA
The entire Heron area has a potential 125 million barrels Drilling Heron-2 and 3 and 4 during 2020 will validity that. Listen again to MB presentation of November 2019 for all the details - link attached
Of course some people have a different agenda (such as de-ramping) and lacking optimism (and outright inaccurately reporting facts) Anyway, it's good to talk about all the relevant issues, and give opinions as to the various outcomes.
Because of Government elections this June, this could be a more difficult year than I anticipated. However, I am hoping the License is forthcoming, and the finance is completed in time to commit drilling to commence (on Heron-2) by end of second quarter, as well as getting Heron-1 on stream to get revenue in-coming (finally)
It's good to thresh out the various issues we will have to confront during 2020, so hang-in there LTSH
We all know, come the license being awarded this will continue to go up. There is simply one elephant in the room, and that funding. He says he wants high end 20mill dollars. Lets look at this logically, so he gets $15mill from a partner and has to raise $5mill via equity. for $5 mill raise at current SP levels, would issue a further 1.4 billion shares, diluting the SP to 1.3p. He has 25mbp. That would be a 10X market cap, so even if you did nothing form this exact moment, SP should be a 10p with a $5 mill equity raise @ 3.5sp. If it creeps up (Which i personally think it will after Expo is awarded) your laughing all the way to the bank as an investor from here. Question will come down to, whats you average. Did you have 30% profit or a feww 100% profit. Either way, regardless of outcome us LTH stand to make profit. Hold in there peeps! GLA IMO
I note you are beginning to recognize the potential impact the imminent slow down of GoM may have on obtaining the required licenses prior to the election this year now MB has made reference to this.
You don’t have to be a political analyst to understand there is value to how this may work attached to several stakeholders who may be interested.
I would hope at the earliest the end of March may produce what Matad seek, but the closer this gets to June, it would not surprise me if this becomes undeliverable until late August / September.
As for Mr Ps last comment about being a political analyst. I still tell people as soon as they land in UB to look at their feet. What you expect or think may work in London, New York or Toronto mostly never works in Mongolia. So always look at your feet as that should be a good reminder not to expect similar deliverables to be delivered in a similar time or to a similar critical path.
Understood. However, those type of interviews are not for the purpose of disclosing "news". That's what the RNS is for. From my POV that interview did not waste anybody's time; quite to the contrary. When do you get the opportunity to listen to the CEO of a company you are invested in (are you)? I find it very helpful. Suit yourself.
No Ojay. I'm only saying what's the point of the interview if theres nothing new to tell us. Wasted interview. It winds me up that MB has had plenty of money and he started the whole exploration back to front. Common sence tells you he should've started with appraisal first then chase wildcat once you start making profit. We just have to go with flow now.
Bottom line is that :- 1)Heron-1 will produce oil in 2020 (800 barrels per day) 2) Drilling in 2020 for Heron-2 and 3 and 4 with good chance of success as research confirms 3) Partnership and/or some Equity issuance for drilling activity 3) Exploitation Licence completed hopefully by end of First Qtr 4) My guess is potential 30p SP during 2021