Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
"All the shorts fill the boards with false dilution rumors"
there is nothing false about the levels of dilution that are coming here, anything up to approx. 1 billion shares additional which would be a $250m raise with the 100 million bond shares. That is only taking into account a 10% discount to the prevailing SP, if others are to be believed (20-40% discount) then the dilution here will be fierce, personally I do not see that percentage discount unless some left field event.
No doubt at all though imo dilution is coming, the only question is the level of that dilution.
10:07
Lol Lol Your right he is a Silly Billy Lol Lol
1) Positive announcement SP goes up
2) All the shorts fill the boards with false dilution rumors
3) Market makers and shorts walk the price down until the next announcement...go back to point 1) rinse repeat
However what we're getting now is lower lows and higher highs so watch this space.
09:51
Silly darientaylor thinks PANR produces 200bopd. Silly darientaylor doesn't know PANR is not in production. Silly darientaylor said he was looking at the numbers. Silly darientaylor is just making stuff up. Silly darientaylor is a liar. Don't be like silly darientaylor.
Looking at the numbers PANR producing around 200 bopd market cap £320 mill... no divi no cash.. PTAL producing 18500bopd market cap £450 mill , 9%+ divi, share buy backs and over £100mill in the bank and one of the largest oil fields in South america with 12 months of the year operation... I know which one is value
Totally agree with your sentiment it’s just sad that we have to go through all this every time the boo brigade have a push on. If you’re invested in Panr, having ingested all the information from webinars etc, (which they wouldn’t have done) the odds are stacked in our favour. Ignore them sit back and enjoy the ride.
I dont thinks its a particulary conservative calculation at this point in time.
We seem to have again all the negativity surrounding a possible cash raise
And share price has stalled through non confirmation of funds to progress David’s overall plans Well for my pennies worth if I may
I’m happy to dilute from 944 m shares we are now at £318m and do 50%. Raising £150m and shares then 1.4 b out there
Fully funded then of the $120 m needed to be cash generative with $30m to clear loan we have still exsisting
We’ve been told kodiak oil is at 1.25 b and alphun shortly at approx my guess 750m. Totalling 2b barrels
This being a conservative estimate as David confirms higher figures being 4 b
All now ours. And no deal done to third party
David’s objective 5-10$ a barrel
Playing safe $7.5. Or £6 equivelent at 4 b barrels
£24 b. At 1.4b shares
£17.1 per share.
For arguments sake half that so £8.50
I’m still happy with that
What do you guys think
🤡🤡🤡🤡🤡🤡
It’s looking very likely that as other members have stated funding will be required imminently. At what discount and at what cost to shareholders. The nervous wait and uncertainty looms, well you could play safe I suppose… IMHO DYOR GLA
20:43
Indeed Triumph1. To help you out with this conundrum of yours, here's (hopefully) a decent summary of the PANR BoD's guidance on exactly this issue. This info was contained in recent RNSs and webinars, all freely available for you to access.
1) Vendor finance; quite a simple deal if executed. The vendor, described as a "large" OFS firm agrees to provide, for example in this post, drilling services (kit and personnel maybe?) to the amount of US$XXX. I think the latest guidance was that "negotiations are live". That's it.....reporting accurately. No exaggeration, no making stuff up, no gilding the lily...88E should try it some time. We were also informed about the prime motivation for retaining Lee Keeling and Cawley Gillespie to complete IERs on the Ahpun ZOI and Topset (Alkaid ZOI and SMD as was) rather than waiting for the end of Q2'24 for NSAI's report to be completed. It was due to the large OFS firm looking forward to receiving the independent conclusions of both firms before signing as deal (hopefully). Interestingly, I've done a bit of digging. Both PANR and 88E know of Lee Keeling as we've read the conclusions of their IERs previously. Cawley Gillespie is used by Hilcorp for some of their Alaskan work. Lee Keeling, of course, was originally referred to Great Bear by Halliburton. I'm sure you didn't know that, so have that one on me.
2) The guidance on the potential gas pipeline is as follows. Have a read of the RNS dated 28/3/24 first of all. To give you an idea of potential daily revenue *if* the gas is sold at that contract price, it's about $500k per day. Useful, eh? We were also told that PANR's gas is very low in CO2 which is an attractive/required characteristic for the pipeline. Timing? Exec Chairman thought there'd be news by the end of Q2'24. If you listen to a couple of interviews given by Gov Dunleavy in the last couple of weeks (CNBC and CERAWeek) he also talks about "in the next couple of months we'll hopefully have some news about the pipeline."
Structure. Happy to be corrected but here's my understanding from listening to the webinar. In return for PANR signing a long term (20 year?) take or pay contract, the SoA/AGDC/Alaskan utilicos will act as guarantor or arranger of a finance facility of *up to* $250m from which PANR may draw on to move the project forward. Please be aware (unlike Stas20) that formal guidance is for a maximum of $120m being required to arrive at Ahpun FID and to secure a self-financing model for Ahpun.
Remember all this can happen because PANR has already classed its Ahpun and Kodiak assets as ***commercial*** following the collection of data from 6 GB/PANR wells and other historic wells such as PS1. It took 14 years and hundreds of millions of dollars to reach this data threshold => declaring commerciality. I look forward to reading how 88E plans to continue that journey.
Let's diarise to review this strategy at the end of June, ok?
Well the good news is all the directors holding means we are aligned regards dilution. Some directors have been significantly diluted since the Great Bear days so I can't see them wanting more. When you are likely looking at 3-4B bbls there is room for dilution.
The big question over here is all about the cash. Funding funding funding. How will PANR fund to production?
Clearly, the market expects significant dilution and isnt buying buzzword fluff about "mutually beneficial agreements" and "advanced talks".
It would be foolish to not expect significant dilution here. The question is, how much of the company will be left for current shareholders? Enough to make it worth holding? Some clearly dont think so, evidenced by price action here.
I personally hate it when directors state "keep dilution to a minimum". Whats their definition of minimum? Probably not the same as shareholders. So many times this phrase has been uttered, but shareholders completely wiped out.
18:45
Thanks for swinging by, MadEnglish. Please note that at no time has olderwiser, Rabito79 or I posted infantile drivel like "Get out now" or "Sell your PANR while you can". Nope, we provide fact checks and corrections, and calculations with full working. Unlike so many on the 88E forum, we also provide citations and sources for out statements.
Tell you a funny story which happened earlier today. You'll double over laughing! One of the 88E posters reported a poster called MunnieTorx for stating that Hickory-1 was being P&A'd. He was furious, demanding a source for MunnieTork's statement. Wait 'til you here this.....I was able to copy and paste a sentence from 88E's RNS dated 15/4/24 where 88E management itself informed the market it was P&Aing Hickory-1. Tough market when shareholders can't even be bothered reading their own RNSs, eh?
Now that you're here, I have a couple of questions for you. What do you calculate 88E's cash at hand will be at the end of April after they pay for this season's operations? Also, do you think there is even the slightest chance Burgundy will pony up their share of this season's costs?
Don't forget to reply to the questions next time you're tempted to swing by!
People also ask
Is Pantheon Resources a good investment?
What are the analyst and broker recommendations for Pantheon Resources? The overall consensus recommendation for Pantheon Resources is Sell.
https://www.stockopedia.com › pant...
Pantheon Resources Share Price - LON:PANR Stock Research
17:20
No wonder you're gulping, DrMicho. The prospect of a further noteworthy reduction in the SP of 88E must be of great concern. I feel for you.
Now then, why is it you keep forgetting to answer the following pertinent questions? Let me help you again - that's the type of thoughtful and generous guy I am!
Say PANR closes on Day 1 at 35p, ok DrMicho? On the morning of Day 2, there's an RNS or press release from Governor Dunleavy's office stating that the Alaska gas pipeline from the North Slope to southcentral Alaska is to be built. What SP do you think PANR, as the most leveraged play on the proposed pipeline, will close at on Day 2? I guesstimate 80p minimum, very possibly over 100p.
It is the jeopardy of the gas pipeline which places a massive question mark against your rumour-broking. Agreed? I just read on the 88E forum that you've opened a short position on PANR. Please be sure it's a full unit, DrMIcho. Just imagine, from this date until the end of Q2'24 you'll be waking every morning dreading any news from Governor Dunleavy about the Alaska gas pipeline being given the go ahead. *If* that happens, you will without any question, lose a huge amount of money on that short position.
Meanwhile, back at the ranch DrMicho, what do you calculate 88E's cash at hand will be at the end of April after they pay for this season's operations? Also, do you think there is even the smallest chance Burgundy will pony up their share of this season's costs?
Don't forget to reply to the questions next time you're tempted to post on this forum!
That wasn’t for you blue/red so keep yourself quiet…
Unpadded post for the new clowns: stop talking drivel.
Might hear something soon! Let’s hope any prospective fundraise won’t be too aggressive in nature. Why do you need to pad your posts out so much, you do realise most people just scroll past. See what tomorrow brings, gulp.
16:40
DrMicho - you clearly missed my earlier post timed at 16:24. Here, let me ask these pertinent questions once again.
Say PANR closes on Day 1 at 35p, ok? On the morning of Day 2, there's an RNS or press release from Governor Dunleavy's office stating that the Alaska gas pipeline from the North Slope to southcentral Alaska is to be built. What SP do you think PANR, as the most leveraged play on the proposed pipeline, will close at on Day 2? I guesstimate 80p minimum, very possibly over 100p.
It is the jeopardy of the gas pipeline which places a massive question mark against your rumour-broking. Agreed?
Meanwhile, back at the ranch DrMicho, what do you calculate 88E's cash at hand will be at the end of April after they pay for this season's operations? Also, do you think there is even the smallest chance Burgundy will pony up their share of this season's costs?
Don't forget to reply to the questions next time you're tempted to post on this forum!
Theres been a drop in SP that blatantly points to a little uncertainty surrounding needed funds... Scot ramping away for his life trying to suck in new investors so they can lose money instantly. I agree, a 20% discount would be a fair starting point. Big risk and big losses..
Thanks for your posts, Owl, Stas and Micho.
A question for you all. Say PANR closes on Day 1 at 35p, ok? On the morning of Day 2, there's an RNS or press release from Governor Dunleavy's office stating that the Alaska gas pipeline from the North Slope to southcentral Alaska is to be built. What SP do you think PANR, as the most leveraged play on the proposed pipeline, will close at on Day 2? I guesstimate 80p minimum, very possibly over 100p.
It is the jeopardy of the gas pipeline which places a massive question mark against your rumour-broking.
Meanwhile, back at the ranch, what do you calculate 88E's cash at hand will be at the end of April after they pay for this season's operations? Also, do you think there is even the smallest chance Burgundy will pony up their share of this season's costs?
Look forward to hearing back from you!
Normally a placing will see a good -20-40% haircut
DrMicho, yes quite likely and it could be large, all depends on if they get financing, but having already lost one contender and now only one left in the ring, chance of a placing is high and the lower this price drops the lower the placing and likely the discount achieved to get one away.
Is there a placing due???? Looks like this will be subby 30 if that happens....take your chances. I would personally hold off, its dropped 15% in a few days, placing???