George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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The market cap should be double current levels.
This is a wait if out share..news of the pipeline in q1 should lift the share price...
Need to see the plan of getting to 4-7000 bopd actually achieved. Plus Argentina politics to get sorted...
If this drops to 2p I will be buying a shed load...
Excellently put Brasso and I concur fully.
(And I'm generally thankful for posters such as yourself who are prepared to deal in hard truths and realities)
Nicetomichu
I agree that they have made progress in terms of land mass, infrastructure and maybe knowledge base in the Vacu Muerta. However, these things do not translate through to measurable value and that is part of the problem. They have done placings at 10p, 8p, 6p in recent years forecast productions levels from 3000 - 700 BEOPD depending on which presentation you refer to. The reality is that over the last two years, average production has been relatively flat around 2000 - 2500 BOPD (peaked at 3300 BOPD).
I follow PPC on LSE and ADVFN and it is extremely rare to see a new investor name appear. I would conclude that most of the buying is coming from existing holders (stale bulls) who feel like they have little option but to average down and chase this. PPCs communication is average at best and the PR is non-existent apart from Twitter. Add this to the main region of focus being Argentina then you can see why new investors are not interested.
fine posting Brasso3, thanks. I'm with you that ppc.l has mostly failed to deliver versus targets for a long time now.. but that's not to say it still hasn't made pretty decent progress along that way, and is repositioning itself slowly but surely into a decent bottom line position. The utter meltdown of the s/p is as though the company is heading towards failure though, and it's clearly not. Argentina macro is somewhat an elephant in the room here too though and that gives further excuses for plenty walking away at even recent seemingly very low s/p levels. So a very difficult share to bet long on, altogether. One iI would categorise as for hardcore players only.
As I see myself as a gambler more than Investor, I'm ok with playing in this name. And indeed semi happy to buy regular tranches of ppc.l at what might turn out, in due course, to be bargain levels. Also off the back of a small legacy position here that is way down, I'm having to buy concertedly in 4p and under range to get to an average I feel appropriately 'low'. And an average in the early 4'sp or 3'sp is one I would now categorise as that.
A dead cat bounce???? No way. (Because of the previous missed targets and bad comms as you say), this share is significantly undervalued on a PEx but it does have a big pipeline of work lined up and underway which will increase Production and Revenues. The correct analogy (hopefully) is not a dead cat, more a phoenix from the flames! (Cue Baddiel & Skinner singing)
I am trying to find a bottom and have averaged down as even the worst share bounce at some point.
I still think it has potential in terms of the assets but my issue is with the poor management and communication.
and Brasso.... you just bought another 400k shares! So you must have a little bit of faith/optimism/bl00dy-mindedness.... ;-)
NM
PPC is being punished for always failing to deliver on targets/ objectives. How many times have they pitched to institutions and investors with various production/ revenue targets and failed to meet them?
- Puesto Guardian was supposed to hit 1200 BOEPD (Currently sub 500 BOEPD).
- Dos Punitas well at PG was supposed to flow at 500 BOPD (ended up in legal action).
- Paraguay was supposedly a success in 2014 yet they have never been back.
- Farm outs at MDT and Paraguay have been talked about for 4 years (no farm outs arose).
- Gross production for 2019 was supposed to hit 4900 BOEPD (Currently <3000 BOEPD).
- 10 - 12 wells were scheduled for 2019 (0 wells drilled thus far).
There was once 16 million shares in issue under MRP. There are now around 1.2 billion shares in issue!
The one thing that gets me about this one is that whilst a number of my other shares have not been active their sps have drifted down. As far as I can see though President have a strategy are diversifying their portfolio. The gas will be part of the picture soon. They are looking for opportunities. Paraguay is on the horizon. I'm thinking if they do well on a number of these fronts in 2020 then the sp will do well. On that basis the current sp looks very attractive. All imho and please Chor.
Atb,
Northern