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Credit rating upgrades
On 23 March, Moody’s Investor Services upgraded Petra’s Corporate Family Rating (CFR) and its
second lien bond rating from Caa1 to B3, taking the outlook from Positive to Stable. This reflects
“Petra’s stronger financial and business outlook”. On 26 February, S&P Global Ratings upgraded its
outlook for Petra’s bonds to positive “reflecting the recovery in the diamond market and improved
liquidity” while maintaining its B rating.
Looking good.
If that RNS doesn't move it up nothing will !!
Wow… a $45m reduction in net debt over the quarter, and that is with only a $5m contribution from exceptional stones. With the value of diamond inventories also rising $19m over the quarter, PDL is now almost debt free if we include inventory as a near cash asset.
Fantastic numbers and some fantastic stones recovered. Petra will be in net debt free position by the end of the CY. Its throwing off cash like a bank machine.
Nelson the Market would of got wind of what you mentioned.
The Update will be boring saying they are moving in the right direction with balance sheet looking stronger which isn't a bad thing !!
Then the market will hammer us down on low volume tomorrow and take a few stops out.
Then a steady climb back up to 140p over the next 3 months .
Very predictable to be honest but i like to be proved wrong ??
I am hopeful that we will continue our steady, fairly undramatic Share price recovery following tomorrows quarterly update. I will ignore the possibility of a poor update and jump straight to the possible rocketfuel announcements I can see that could give a massive boost;
- an outlook as to when net debt is cleared in the short term,
- a subsequent announcement around follow on dividend timings / size / policy ,
- share buy back proposals.
I am fairly confident we are approaching the net debt elimination point and as such it would be good if the company shared its future policy as to what to do with its cash surplus - especially whilst we can not pay off large debt without I assume penalties - makes sense to dish out some money to shareholders and a share buyback could be well received given the massive debt to shares recent history - my personal favourite would be a mix of share buyback and a dividend policy relating to a percentage of profit. Not long to wait and find out now. There is the possibility that tomorrow is an exciting day!
NtD
Miss your buy in price?
Not sure diamonds are on a relentless decline lol
And no nothing going on here as the fundamentals currently stay the same.
Nice try
138p to 128p in 10 mins something definitely up here ??
Hits 138p then the big sell before tomorrow's update!!
Needs a carlsberg RNS tomorrow???
A retest at 115p is back on so let's hope it holds this time otherwise next stop 96p .
With Diamond prices on a relentless decline now anything is possible ???
AIMHO
PDL was hammered, bad news after bad. Its value shrunk to less than 1 tenth of "normal" values as investors ran scarred. How the hell can you value a somewhere that pulls large diamonds from the ground?? The back of the office settee is probably worth $200 million! If "they" paid 177pps It really is investor confidence and nothing else that is back the SP. Good thing is it looks like a climb from here!
The reason this share appears 'cheap' is the result of the 22nd December 2020 Prospectus for the Debt for equity swap of 90% of the company.
Feel free to correct me on the figures.
$409.9 million paid for 8,844,657,929 ordinary shares. Following the 50:1 consolidation , gives an adjusted share price of $2.31.
Seen what you did there Anock - nice amount, well done!
Vontobel 34.6M shares
Monarch Master 23.3M
Franklin Templeton 12.3
The Terris Fund 10.7M
Azvalor Asset 10.2M
Anock 7.6K!
I’m not sure how this company would get to the point of being taken private. As far as I can see the biggest shareholder in this company only holds 17.8% of the voting rights.
That's possible but they would have to give us a decent buy out price. I think they will go down the route of, once the debt has been obliterated they will pay dividends to regularly reward themselves through their large holdings.
Have you seen how much free cash they are making, zero chance of a dilution imo. Still hugely undervalued.
That's the $1m dollar question Mendo ?
Could please someone explain me why does this stock (look) so extremely cheap? Am I missing something, as I
unfortunately only watch it for several months. Even now it looks extremely cheap at P/CF of only 2.16 and P/E of only 1? Is there any large potential dillution ahead, any large outstanding legal battle, some murkiness around anything important...?
Loving this share at the moment as I have doubled my money. Should I sell or hold? Your views please.
Great to see sp at 2.6p old equivalent.
And so many highly educated posters saying this was going to take years and years when we are up 50% since I last posted on this.
Just goes to show usual the SP will act ahead of the “actual” recovery
The minute the US opened up we lost 6p ??
I suppose you could be in worse stocks like Pantheon Resources with a £1.2b mcap with zero income.
I can imagine. Balls of steel. Not easy. The days of 4%+ gains are tricky to consolidate as market traders are looking to take that profit on swings as MrCarats just pointed out. Under 3% and your usually wiped out by trading fees etc. Which is why most dont move 3%. If there were a crystal ball would we be quicker to go broke?? 1 week crystal ball?? 1 month crystal ball?? 1 year crystal ball?? Just glad your faith to hang in there has been justified.
A nice 3p spread today which creates no market to play !!!
Some might remember have a huge amount and averaged at 2.4p old money my board friends were concerned for me but then came salvation deal and we weren't wiped out so all's well everything went against us 3 / 4 years ago now the total opposite only just started to take a little off the table hope the investors who timed this perfect time there exit equally perfect if you do let me know we're you purchased your crystal ball !
It's just amazing how many so called heavily investors turn up when it rises !!
Please have an opinion when things ain't going your way???