The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I also agree with razel2000 – at this point there is no dilution. It’s just an option to draw-down in £500k increments. It’s not a great time to be taking on additional debt, however, it’s a £4m safety net, with a 5.3m Euro grant still to come, and by the sounds of it, additional grants/funding coming from the Government. At least this ensures we are not going to go bust, and this more stringent lock-down period is only set to last until 9th April. It’s certainly not the end of the world… yet!
Agree, it doesn’t add up. He either needs to publish a correction or needs to do an interview as a matter of urgency to explain what the hell he meant. The fact that he slipped into an announcement about closure and credit the production figures (even if its off the back of an envelope) makes me suspect that he was softening us up.
Let’s run some figures…
In the December quarter, LP produced 21.4 tonnes of Tungsten and 7.9 tonnes of Tin = 29.3 tonnes total.
If the March quarter increased by 160% - the resulting increase would mean 76.18 tonnes were produced in total.
We know 24 hour ops began 18th Dec – there were planned shutdowns in this period. Given the below statement, it’s fair to say that most of the 29.3 was produced in the month of December…
"W expects production to build substantially in Q1 2020 with a full three months of production (majority of production in Q4 2019 was in the month of December) and higher than expected tin production and revenue. Debottlenecking initiatives and completion of contractor rectification work, which are normal at this phase of the ramp-up, should also contribute to production increases.”
There were roughly 13 full weeks between Jan 1st and up to today… We can safely knock 3 weeks off due to planned shutdowns in Feb and perhaps not operating fully in the first week of Jan… so 76.18 divided by 10 weeks is 7.62 per week. Let’s multiply that by a typical 4 week month which makes 30.4 tonnes… In that case I would say 76.18 for the March quarter or 7.62 per week can’t be right…Thoughts?