Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Ivor
There is always nonsense posted on chat boards, but there is Lao some genuine thoughts, feelings and information shared.
As for who is in control of Pfc. The BOD have taken as global service provider to the brink of bankruptcy, they have stated they are unable to pay the interest due on the bonds in May. They have however secured money for some performance guarantees which is very interesting. At what cost though, how much equity? Will they dilute to raise the interest payment, delay the interest payment, be forced into administration etc,etc.
Whilst the later is in nobody’s interest apart from shorts, it is a possibility.
We should find out tonight how many shorts bailed and that may shed light on their expectations.
This has been too much of a gamble recently, to often in these situations, the worst scenario materializes.
Good luck to the brave who held.
Bonds have already lost 85% value, so at the mintue market believes that bondholders wont get their money back.However if fresh money is injected and buisness improve than probability of them getting their money back increases.However bonds tell that equity is worthless.
Some are ramping the bonds. Even suggesting that the additional credit will be secured with some sort of super seniority. Absolute nonsense. There is no security worth a carrot as it has all been pledged already. The bonds will not increase by three or four times. Far more likely they will lose 90-100%. The only real hope for the junk bond holders is time or a takeover. Two or three years of profitable trading and maybe you recover 20 or 30%.
DO NOT BUY BONDS THEY ARE JUNK!!!
#positive restructuring" such a thing does not exist I am afraid.It is clear from last update that shareholders would lose a big percentage of their investment.We will find out soon how big it is.
I, like many, am sad to see the demise of PFC. Good luck to all and their future endevours. We will cross paths one day, on another chat. Get ya'self over to TLW.
I would have thought some of shorts cashed in yesterday. The price action suggests some did.
Superdry , Cineworld, McColls, COPL , Bahamas petroleum …. It’s a disease on many share discussion groups
What is for sure is that we have some people on here that will vanish into thin air if any positive restructuring is announced. Many are spouting negativity just because it makes them feel better for selling out or never actually investing in PFC. Interesting month ahead. GLA LTH
BloodyRedFackwit
DYOR incel
Petropasta
petro****ed
Everyone is wrong, why? They know nothing.
Shares will be worthless? No, they are 10 not 3 or 4.
Bond holders are safe? Not likely. Lost 80 -90%.
Creditors are in control? No. The BOD is.
There will never be a takeover? Now THAT is the question.
DYOR. Most of the posts are complete horse. The ones who post the most talk the most horse****!
So your not invested at all?
No wonder you are called Bro-Ken Broker investing in garbage like this
I’ve just posted this on ADVFN in reply to a bondholder friend who said
‘One third chance bondholders refuse to inject more cash and it's a zero.
One third chance, I double my money.
One third chance, I treble my money’
I said my take was
Low risk of wipe out because debt holders are in control. That’s $860m of debt that can be subjected to hair cuts/PIKs/extensions as required to obtain the $200m Performance Guarantees. I’m assuming that all parties believe that the $300m proposal is ballpark what’s required. Principle risk whether the BH’s and RCF/TL’s can work together?
The new $200m bond will be super senior and potentially highly attractive. Could be sugar coated with early redemption and high interest rate.
The $100m equity raise is unattractive since shares will immediately trade at large discount to the 4 - 5p D4E price. However could come with warrants.
Debt holders will have to really screw up if they can’t salvage something?
Most likely outcome?
Latest RNS says a significant portion of debt will be converted to equity. Implies BH’s keep maybe 25% to 40% of their bonds if lucky. No mention of haircuts but the bond price indicates that this is in the post.
Could double your money from 21 cents and, with patience, might easily quadruple once the massive overhang eventually cleared.
And post restructuring would be ‘now or never time’ for any potential bidders to snaffle up PFC up on the cheap.
What’s the right Enterprise Value for new financially solid PFC?
It’s been trading around $1bn despite the threat of restructuring, probably thanks to excessive PI enthusiasm. Going forward it will be cynical debt holders controlling the price and the sexy geared upside that’s so attractive to PI’s will have been heavily diluted.
Brokers seem relaxed with a > $1bn EV though.
In summary there will be $200m of new bond debt plus $100m of new equity but offset by $300m new cash so EV neutral. Hence lots of latitude for debt holders ($860m) to take haircuts to get this over the line.
I guess the answer is no. so all this bull about short squeeze iis nonsense. like most things said on this board yesterday. so just have to wait and see what happens next.
Snapper, Tony9999 and Garydav2 all tools👍
Eurofil
Well my spelling and grammar may of not of been great. It was early in the morning and I was on a bus.
But the facts are the facts you tool
Did any shorts close in last 2 days ?
It is not investing it is gambling and even you can win a gamble but here you can only lose.Time will tell but in my opinion shareholders are highly unlikely to be wiped out here.
Please ignore the rubbish being spouted by a few individuals. Seem to be ex employees with very negative comments that are pure rubbish. Shorters were prolific yesterday. Looking forward to a firmer footing going forward. I averaged down luckily right at the end. Looking forward to 100p towards end of this year once results and trading resume.💪💪
Let me educate you Gary, it’s their hard earned cash.
belonging to or associated with the people or things previously mentioned or easily identified.
"parents are keen to help their children"
2.
used in titles.
"a double portrait of Their Majesties"
I can't believe the blind faith in which alot of PI'S have put there hard into cash into companies like this recently. This board and SDRY I think I have seen it all recently. Punters have lost 80 to 90% in some cases still holding on for that glimmer of hope.
Well all I can say is take whatever your read on these boards with a pinch of salt. And don't be afraid to have a rigid stop loss in place. All the averaging down posts, oh I made another top up...
Well done that at your peril.
Goodbye Petrofac.
At least for 4 weeks 👹👹
So, the shares are now suspended from the 1st May up to the stated date of the 31st May (maybe longer)? Why they bothered now when they have already deliberately killed this share over the last few weeks. Possible for easy Administration?
Q; So if they get through this disaster and keep trading, the share price tanks to 2-7p with debtors dumping (as some predict). What do you all think the new normal range will be? possibly 5-20p?
If you look at Tullow oil that did survive, they used to be 200-235p for a few years now settled on 27-38p after the dust settled.
Just wonder coz if in 3-6 months it’s in a range, could the worth a punt to claw some losses back?
Thoughts??