Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Do you think anyone is barking enough to listen to the likes of you? You’ve thrown so much money away in your vanity and haven’t even told your Mum yet.
FT updated on 3rd May. “The 8 analysts offering 12 month price targets for Petrofac Ltd have a median target of 26.27, with a high estimate of 99.50 and a low estimate of 10.35. The median estimate represents a 150.18% increase from the last price of 10.50”
Have never been tempted to bail here and averaged all way down. Exciting times.
As already mentioned first step is little default. Get ready for that on 15th of may. I think bod are going through a plan, no matter what paid trolls come up with. They have assets and they could have sold these months ago. But delaying it to this late and saying the deal will happen when restructuring (equity shift/ company break down) has gone through. Delay in results was revealed to company on 29th? A clue that not all things are transparent.
Disposal of schroders was revealed after about a month is another thing which tells about the transparency.
Why would Ayman Asfari keep away from all this. Biggest shareholder and not on board.
He retired from Petrofac but still active. Why would he let such big investment drown and not sell?
For what it’s worth, I sold the lot at 25p. I’ve held for 4 years, averaging down all the way, but my gut feeling is that shareholders are going to be wiped out here. I still plan on buying back in at the fraction of what the sp is now whenever the dust settled. I hope for those that are locked in that I’m wrong, but even the RNS seemed to be screaming, get out while you can.
Debt holders can take 'the biscuit', perhaps a larger chunk of the buisness from shareholders, that is a probability Paul, we dont know what deals are being struck or T&C's... However as some of the shareholders are also employees through share schemes / remuneration packages, this may leave a bitter taste in some mouths, and if those such people are essentially the cooks in the kitchen, I'd get ready for some sh*tty meals being made afterwards.
A deal may be struck to the benifit of debt holders, but if it's at the complete detriment of their own employees (and share holders), I can't say its the best foundation for a strong buisness going forward - regardless of the attractive backlog. A sort of capitalists poison.
My bets are on a good outcome for both shareholders and debt holders, for the scenario you have described with debt holders taking everything does not sit well with me. Should the debt holders make unfavourable terms, may they reap what they sow. Remembering that petrofac is a 'people buisness'.
Longwait for tuppence
IG
You seem to have forgotten that you were the idiot ramping up the equity when it was c.25p!!!
And you are too dumb to realise that debt holders now effectively own the business. A business that you were happily valuing at over $1bn EV only six weeks ago
Clearly there is risk over obtaining the PG’s but should be doable. Debtholders may have to take haircuts and/or convert all debt to equity worst case but this crisis is about too much debt so resolvable.
8 posts is a record and on Bank Holiday🤣
You have option to filter anyone and
PFC is only suspended but people are invested.
I filtered so only seeing green coffins... constantly commenting on a shared that is suspended seems to be a futile exercise....maybe he gets paid to post on pfc regardless
All of them negative. Nothing positive in news
All from Shaz😀
On April 22, we warned that Petrofac’s shareholders have to accept that they are on the edge of wipe-out.
Can we say we were right? A week later, Petrofac announced a delay to its audited full year 2023 results, which it now expects to publish by the end of this month.
As a result of a failure to agree who pays for the extra project costs, Petrofac “expects to recognise an incremental loss in its Engineering and Construction division of approximately US$130 million for 2023
During the suspension, it is likely that Petrofac will default on its debt
Poor shorters will be kicking themselves alongside with shareholders who did not sell.
But three of the six hedge funds making bets against the firm might be kicking themselves.
They cut their short positions in late April – missing out on Petrofac's latest nosedive before it stopped trading.
Things have gone from bad to worse for the energy infrastructure builder, which was once worth £4 billion but is now a £55 million tiddler.
It has been the most-shorted stock in London for some time, with a record 11.5 per cent of its shares out on loan in January.
One of the problems that PFC will face is that its entire supply chain will re-evaluate their payment terms and try to drag payments forward, or where new work is being placed negotiate more onerous terms (for PFC).
This will go right down to, or perhaps even start with, suppliers at the bottom of the chain, some may even demand payment before releasing anything, irrespective of contractual terms.
Projects could grind to a halt.
Afterall would you want to give PFC credit that could cause you difficulty, or even kill your company, if you didn't get paid?
Those that throw stones using personal insults demonstrate their immaturity and foolishness, I don’t suffer fools gladly so post reported and hopefully a ban will follow.
Exactly Apothecary.
Atleast some alternative views from other posters have some context to read into. Couldn't help but laugh at these 3.
3 people with very sad lives. When this starts to rise again in value they will be very quiet again. 😂
All day yesterday there was peace and quiet here... in terms of sharing thoughts or info on how things may turn out. No real bumf or niggling.
Then... the 3 bot muskateers Tony, KPA and Dogger come in the last 3 comments as if nothing better to do with their Friday night. Name a better trio... ill wait. Haha. What's your game play here lads, if it's a game of life and how to use your time with distinct purpose and value... you have all but lost.