The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Mirasol that is their share.
£1.04mm x 2
Cant see how they can produce for an extended period at 500 per day without OGA approval.
RNST - surely UJO don't have to pay Calmar all the £ 2mm? It should be proportionate to their interest I'd have thought??
I haven't seen the agreement but if its "on award of an FDP" it might be long time away- UKOG strung that out at HH for years
Heres the money situation from their own reports:
17 Sept 2020 £11mm (post last raise)
31 Dec 2020 £7.25mm
1 May 2021 £5mm
30 June £4.6mm
Interestingly no update on cash balance at the time of interims (obv includes fixed overheads)...
Cash burn Sept - Dec = £35k/day, (WN drilling)
Cash Burn Jan - April = £18k/day (Egdon Loan and Humber Purchase)
Cash Burn May - June = £6.7k/day ( Not much happening, start of WN testing early June)
If we assume that WN and testing and Wressle work runs to £12k/day? (could be more/could be less) that's £1.1mm spend to end of Sept.
That leaves £3.5mm, they have to pay Calmar £2mm on Wressle production.
That leaves £1.5mm, They are owed £1mm by EDR but can't get that back until June 22.
Income from Wressle will add to this at say £300k per month going forward, but that's still not enough to pay for the Royalty at £1.3/1.5mm as well as keep sufficient headroom for going concern and undertake the other activities they've promissed such as drilling B2, Biscathorpe etc etc.....
Of course that's why they need to raise...
This is irrefutable evidence that you are talking pants !!
What a Sh*t show, price fall on upcoming placing making placing more expensive for shareholders. So many positive developments on the assets this was basically the only way to mess things up - and they pulled it off. No hope of a rise until placing is announced, no hope of a placing until the fall stops. So we are looking at 25% dilution on top of 20% fall in share price today with a share overhand for the forseeable. Someone made the good point - why buy royalties from a placing.
No doubt this is great opportunity for someone at some at some point (been hearing that for years) most here lost faith now.
For you Pboo...I shall go silent.
You're not really anyone, Heid. You're a corporate account paid to ramp this dog of a share into the ground.
Give it a rest Heid,
DB has had you over.
Don't throw good money after bad.
I am not Rubey you annoying little gremlin
Here we go, more ramps from the Top paid ramper Heid.
It appears now her alter ego Rubey has had his life support switched off she has to double the output.
Expect many more short posts where one would suffice.
No wonder when paid on number rather than length of posts.
50,000 more shares would round my holding up nicely.
I have £10,000 stuck in my knicker drawer all set.
Dave has this little girl oiler on board.
just look at his track record he gets companies in so much debt leaves and they go bust
he has lost it here with everyone not on the payroll
No. strong man.
Wait for the RNS when Dave is ready, not before.
Heads firmly buried in the sand. DB has defaulted to the ostrich manoeuvre. Coward ! ! !