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Random chap asking: Did you reach any conclusions as to KLK's thinking around #PAL?
Doc: Fully supportive. The fact the GM went over was somewhat strange so concluded there's a bit more going on but gonna have to wait a bit
so what has he he said I have not seen anything
Some positive commentary from Doc H on twatter. Reassuring at the least
Bored over the weekend and was looking into the Oluvil project. Have a google earth look at the harbour in Sri Lanka. Was all silted up with blown sand and - with another google - there is news that the harbour was being cleared in March this year to enable shipping access. So, that suggests commercial plans are moving in step with government support and that the CML plan to get going could swing into action pretty quickly. I wonder if KLK and EPO pulled some strings that far back? Curious. But good to see those ducks are falling into line.
I guess this all pivots on what KLK had in mind and what they’re expecting their financial return to be and in what time frame. I cannot see any logic in them washing money away on an investment which is worth ~15% of what they paid for EPO earlier this year (the 5p price). Once PML have had their 75%+ shareholder agreement given, I’m expecting some more comms on what the plan is and a reasoned timeline.
Thanks for the post, I hope you are right. I suppose whilst we are all locked in we can only speculate for now. I will be happy if don't lose money (my average is about 1p) .
Any thoughts?
Whilst we wait patiently, I've come up with a theory that we'll return with a post-consolidation value of £50m. There is some logic to my statement, which might prove to be utter tosh, but at least it makes me feel better whilst my cash is locked up!
The 132m shares have been agreed to hold a value of £15,840,000. I couldn't quite fathom the reason for that value, until I flicked back to the interim results report and the retained loss value -$46,102,000. Doing a very rough kick across from USD to a GBP value at a rate of 1.349 provides a sum of c.£34,160,000. Put them together and you've the magic £50m value. Does that make any sense on a valuation? probably not to an independent AIM company, but if the intention was to bundle and sell or part-ex it on for palm oil assets (staying within their strategy?) it might have a modicum of logic.
if nothing else, I've put something on the board to prove I'm still alive and waiting...