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If the city takes the view that ARCM will have to fold their short they are beyond crisp, more like charcoal.
Extraordinary that a plc would issue a tweet on a Sunday to correct a press article published in a respectable broad sheet Sunday newspaper. Just shows how seriously PMO are taking this. Expect an Rns tomorrow to confirm. That being the case it will be a tremendous result for all long term shareholders.
The question is do those snakes have anything else in their war chest or is it BBQ time for them.
How do we like our meat........ lightly done or burnt to a crisp?
If Pmo issue that tweet as an Rns then that should head off any attack on the price.
I’m my view the other shorts have to close to avoid getting caught out. Every man for himself and all that.
If poo can stay up it’s game on in my view.
When they are forced to close their position, PMO goes stratospheric!
Have you ever tried to buy 25% of a company in a rising market?
I wouldn’t be surprised to see heavy buying of PMO on the back of this in the knowledge that the higher it goes, the more likely the vultures will need to buy back in taking PMO inexorably higher in a classic bear squeeze.
They are well and truly f***ed! And the best but is their pain will be our gain!
Weekend press reports that debt holders want their money back will spook the market on Monday. Basically these people are attempting to muscle PMO into a corner before repayment dates in 2020/21. Sell the parts of the company they deem worth a few bob and have a rights issue to deal with the debt. If this happens our value in the shares get's diluted but we become debt free. Not sure I'm adverse to that if it gets this vultures gone but the caveat is the price of oil. If it maintains present price then ok but if we see a significant drop were in trouble. My guess is were involved in a poker game between PMO and the vultures. Who blinks first is anyones guess but given PMO present forward asset value there will be other vultures out there willing to give PMO new debt. Problem is this nonsense will likely mean higher margins on any new debt.
All theory of course but this problem has only arisen because of the undeclared short that has obviously gone bad to those holding the 'short notes'. This negative newsflow is looking to drop the PMO SP to support the short position. Not sure what their 'short stop' was but at present with the SP on the up means their taking a beating and if this continues they will be forced to close the position. Serves em right if this happens but we need caution whilst this plays out. It maybe that the Regulator will step in under the 'market manipulation' rules that are clearly being broken.