Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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TR, I agree with your sentiments, but there is a ten bob biit - it is called a 50p. I presume you mean a nine bob bit! PMO cannot afford further investment until they reduce the debt, there is no reason why they cannot sit back and benefit from Catcher and to a lesser extent Solan and The Far East.
"He who sells what isn't his'n, must buy it back or go to pris'n."
Agreed TR
Cheers betrayed and furry coat.
Actually personally I think this is positive as now we know the greatest impact on this share and reasons. PMO will have learnt a quite a bit from last refinancing and the mistakes. I can't see much happening before Zama sale anyway, only curve from very positive fundamentals, is will they try and do a raise to reduce debt down before refinancing agreed next year, to get lower interest rates, lower debt and work with the lenders to keep them happy, although from last time, think TD would do as only last resort.
From where this was 5 years ago, this should be worth minimum £1.20 to £1.50 of anyone's money. In my own humble opinion for what it's worth.
Interesting that after the sp rises on Zama news, We then get the release of information on the size of short and now information come up about: "Premier Oil seeks to extend due-May 2021 restructured debt but faces pushback from hedge funds" and from a source from Asia?
We are mere toys for others I fear?
Rgds Sft
Thanks for last two TR
I would not trust the market any more than the PMO board, who just tell you what you want to hear.
No one can tell me they did not know about this big short, they did they just did not want to let everyone know about it.
If you look at the Sunday Times article in January 14th re pmo buying an asset,
The newspaper said the explorer pmo intends to fund the deal through a rights issue or a share placing. The company also is considering selling all or part of its Latin American business to help pay for the deal.
Well we only found this out through the newspaper article not from pmo. You will see there is never any smoke without fire.
We now know Zama for sale as per article, and now know from other lenders many have been pushing for a rights issue, once again both accounts are now seemingly true.
PMO released a vague statement saying they neither accept or deny the article, including they were going to do a rights issue.
In summary, you can't believe anything out there, all are making money anyway they can and no-one can discount a rights issue for PMO to raise extra funds, for whatever purpose.
Saying all that, the future looks rosy for PMO, now we know how substantially this has been held back. Once these parasites are off pmo back, it should fly like an eagle, but just trust your own instincts.
Good luck all.
OK this news about the short was out on Thursday and the share price increased nicely on Friday.
Therefore there is surely nothing we need to worry about going into tomorrow??
Yes there are dodgy dealings in the city, nothing new there. Otherwise it’s as we were.
Unless someone wants to tell me different?
I and a few others on here have had said for a long time, the shares have been manipulated and the market is corrupt as a ten Bob bit. You will never solve the puzzle, as like the government, always excuses and reasons why it happened and why nobody knew about it.
Nothing will get done and if it does, they will be slapped with a few quid fine, well below their potential gains.
In the UK crime and fraud pays.
Where do you find in a so called ethical world, can someone legally try and force a company and staff out of business so they can be rewarded.
Some other countries have banned shorting, they have ethics.
Hope all these parasites get their deserves but unfortunately they won't, look at G.Sachs, a little slap on the wrist.
Post 2 coming next
Making a good return on the debt ain’t enough for ARCM, there intention is clearly to force PMO into a deeply discounted rights issue, I would assume circa 30 % below current sp & their shorts will make them an additional huge return. Talk about cake & eating it, IMO they have taken a massive gamble shorting PMO & now it’s out in the open let’s hope they have a very expensive comeuppance .
Or put it the other way, why suddenly decide to show their hand last week, ahead of the Zama deadline bids and an OPEC meeting?
And again the debt wire article is from Weds , and Share price hasn’t reacted in a negative fashion (mainly because oil price rallied), but current share price is near the recent highs, compared to the likes of BP, Shell, etc which are relatively subdued.
Dayindayout, I know you just joined today, but do you hold pmo stock or are you in the restructuring industry and have restrictions on holding? Thankyou for posting it though, and still find it odd that despite having informal conversations since July (when ACRM stopped position building) , none of Premiers advisors saw this coming....
ARCM shorting has obviously helped drive down the SP of PMO, but why do BB members think that it has been made worse by them not disclosing their short position ?
I would have thought that people may have questioned why one of the main lenders was shorting PMO shares … (maybe they know something that we don't) … let's sell our shares and play safe.
Thus driving down the SP more than it has by staying non-disclosed.
Just a thought !