Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Happy, You’ve been happy deramping in this bb for longtime now; why are you doing it and for what purpose? Why are you so constantly negative in everything you say?
Please answer me?
No, I didn't hedge them at the time. I was interested in a long position.
I bought at 82%, then trances at 55% and c40% - I didn't call the botton. Who ever does?
I neveer buy all in one go. I sold with a small profit, some income and some accumulated icome.
- that's from memory, but it's roughlty there about I ended up with 40'sh% YTM
SK
It is only my reasoned opinion but I could be 100% wrong so everyone ought to make their own decisions weighing the risks and potential rewards.
This has dragged on too long and everyone is tired. The covenant waiver is about to end and there is no indication that the requisite 75% of one class of creditors have approved PMO's fundraising plans.
Instead management seem to have no plan B and appear to be flailing to rescue the situation be it talking to Chyrsaor or approaching BP again. It smacks of panic and desperation at the last minute.
I think creditors will deem it worth calling in their debts now and taking full control. In some ways the situation with Chyrsaor has made it worse for PMO. In the world of game theory, creditors now know there will be an interest in the assets if the debt are restructured. Their best chance of getting their money back is swapping a significant chunk of their debt for equity and negotiating a sale of
the assets without a gun to the head.
Out of public eye, PMO can be restructured to save jobs and repay the creditors in time. PMO has some excellent assets that can be marketed in slower time as the oil market eventually recovers.
Sadly for existing shareholders, I believe they will play no further part in PMO's future. And best case they will have a negligible share of a recapitalised group.
Best
Happy
devonplay,
What did you pay for your PMO1s if you don't mind me asking ? Did you hedge them at all ?
"HAPPY, do you really believe the end is nigh?"
I doubt this will be the end, I'm just less certain what the structure/shape of the capitalization table will be going forward. I'm sure whatever the shape, if you did a waterfall analysis you know where shareholders will be - that's just the way it works.
You have no clue, market is driving situation. You did not predict the market :)
...suspect BP told them to f*** off and creditors are squeezing their balls in a vice.
The end is nigh imo...