Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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And in the 9s to sell.
There it is 10p to buy
I imagine the Money Boys will play with this all Day making a Killing 9p share sold at 12p is not a bad return......back to 10 up to 11
........
Sunny day, off to get a haircut so catch you later. Except for the bondholders who will prolly see there.
Yes i got some at 0.1036. bought back what I sold at 25p and now have x2.5 shares. only a small number tho. but better than nothing.
Yorkshire Blues
Not Until the Receivers sitting in the PFC Office.....
I was told at McAlpines as a Boy..... Never Take Prisoners.....It slows you down get to the Objective.....We are almost there....Not Long.....
Going to have to be a session of FourPlay behind the boiler room at this rate then.
Lol!
All of Snappers Christmas' and wet dreams have arrived at once!
Give it a rest dude. You've made your point FFS!
Big fat spread. MMs want buy at 10p but sell at 10.9p
I have MONOPOLY......
Its a Fantasy Game a bit like Petrobust.......
Will definitely miss my classmates after today. Oh well, has anyone brought any good games in for this afternoon?
Close to bottom. difficult to buy. may have missed my chance.
Yes 10p is the magic number, first lot just bought and will ride out the risk.
STAR - I have to say I absolutely couldn’t agree more.
It makes you wonder how these execs actually got their jobs in the first place, you would actually had to have put in a lot of effort to manage the company so badly!!!
Auction? out at 10p??
I cannae get a quote to buy
SM66
Did you not get your English O level?
JUST FOR YOU
Read the Key Words for the Stupid........
"Update Strategic and Financial Options As part of the Group’s ongoing financial restructuring, an ad-hoc group of senior secured noteholders have made a proposal to provide further credit to the business of up to US$300 million, comprising US$200 million of new funds and US$100 million of credit support to help secure performance guarantees for certain of its existing contracts. This non-binding proposal is dependent upon, amongst other things, the Company securing these performance guarantees", ........
"a proposal"
"non-binding proposal "
"dependent upon,"
"Company securing these performance guarantees, "
Put them all together and what has PFC got.....NOTHING.....Its A "non-binding proposal "dependent upon,"Company securing these performance guarantees, "
Its called Fine Print......
Total PETROBUST.......
There’s no denying that this has been managed appallingly by the BOD to go from £17 to 10p but it is what it is and the question now is will it remain a going concern?
They’ve somehow secured $300m funding for performance guarantees which will enable cash flow to appear. Can they make a profit? I’m guessing the new lenders think they can.
Have we reached full capitulation yet? maybe a lunge down to 10p?
Don't Forget what the Accounts say about the AVO's....
And ANY PERSON PUTTING UP A ...APB or PGB will want total Clarity on this ISSUE........
The Recognition of assessed variation orders (AVOs) pending customer approval: an AVO is a management estimate of payment due from the customer resulting from a customer-instructed change in the contractual scope of work or for the reimbursement of costs not included in the contract price. The assessment for contract modification is based on discussions with the customer and a range of factors, including contractual entitlement, prior experience of the customer and of similar contracts with other customers. When such modifications or changes to contract are approved in writing, by oral agreement or implied by customary business practices including where the parties have yet to reach final agreement on changes in scope or pricing (or both) but where the Group believes it has an enforceable right to payment, the Group recognises revenues and profit from AVOs using the expected value approach. It assesses/reassesses AVOs at contract inception and at each reporting date where it is considered highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur when the uncertainty associated with the AVO is subsequently resolved. In performing the assessment, management considers the likelihood of any such resolution being made by reference to the contract, independent specialist advice, customer communications, past experience with the customer and other forms of documentary evidence. At of 31 December 2022, AVOs of US$378m
were recognised in the consolidated balance sheet (2021: US$338m), of which US$372m (2021: US$337m) was included within the contract assets; and US$6m (2021: US$1m) was included as an offset against contract liabilities; see note 20.
Accountan Speak............Important Bit.......
“Where AVOs pending customer approval are not subsequently resolved in the Group’s favour, this could result in reductions to, or reversals of, previously recognised revenue. The AVOs recorded in the financial statements are in respect of a number of contracts, with AVOs relating to two contracts representing approximately half of the total balance recorded. "
On paper there is a lot of Money Not Settled or approved with Clients……..At of 31 December 2022, AVOs of US$378m……Outwith Legacy Contracts
Auditors will be holding PFC Feet to the FIRE on this as this is the Basis of the BIG BLACK HOLE.........
And as the Auditors stated PFC have a History of Fraud and Bribery and Corruption do you blame the Auditors for being Diligent
I know i'm so clever :D
But Aiden, Aiden… Mary’s concubine more than likely.
Shorts wont close until D4E situation is resolved as that would determine shareprice.It was a stonking after last RNS and shorters have made a killing.I guess bondholders were shorting too as a hedge against their bonds.
DBNO, gosh no one thought of that!