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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There is no cash in Argentina to repatriate!
So out of approx $40m turnover pa (expected - maybe less now) PCC don't have any working cashflow. If no cash then why are you worried about cash stuck in Argentina as one of your concerns - surely it should be just about general business and that they are not covering interest payments therefore effectively insolvent- this is clearly not the case is it?
A thought....at the moment the shareholders hold a percentage of the remaining 28% of atome now representing approxiamately 50% of PPC value. This quite honestly is the only real reason I still own this stock quite frankly. After the consolidation if the company does another capital raise at some point are holding in this company will get diluted. I personally would like to see this 28% of Atome distributed to existing shareholders now. I would be interested in anyones thoughts on the matter
If the house broker could get a placing away fair play that would be some effort
There is no cash in Argentina to repatriate!
Yes, clearly a few challenges but these can be worked through - what is your opinion on the company value if funds can be repatriated? Still assuming approx over $40m turnover per annum!
Like I said I feel this has been kitchen sinked as PL will want a fresh start on MAN (hopefully good news only!). My main concern is what happens next when changed to MAN and how quickly they may raise/need funds. GH could use cashflow within Argentina for Lithium prospect, but clearly fundraising will happen at some point, I guess its at what price and for what!
their performance in Argentina. The general concern then for me is when the name changes and the new strategy kicks in how are they going to fund things going forward. Aren't they going to need an awful lot of funding to develop at scale and get returns for Shareholders? I don't think that is going to happen overnight.
Atb,
Northern
over reaction?
The total debt is now $34m and they cannot move $ out of Argentina! We are now dependent on oil prices staying above $80/ barrel.
Interest payments are easily covered by Argentina business/cash flow , so debt/interest payments is manageable at the moment - Yes, total debt levels certainly not ideal, but maybe this situation may change at some point which has been mentioned in previous RNS - assuming PL is expecting something on this to change from Argentine government in the near term!
If not, then USA needs to get back on line ASAP, which can be used to pay down some of the debt levels (like I said interest payments are well covered)
Total over reaction if you ask me - MC £19m with ATOM approx £9m - so rest of PPC valued at £10m - the Paraguay drill could be worth this alone on speculation following spud, let a lone any farm out. I will remain patient and await further updates. IMO not the time to sell at these low levels..
Not sure you can say its undervalued surely the Argentinian business is worthless, significant debt not covered by remaining businesses?
The problem is that we were expecting good results backed up with a better update and trading statement. Unfortunately neither has occurred hence the 20% drop!
This has got to get better, too much of a loss now to sell, in it for the long term whatever the outcome.
Not bad first 6 months trading TBF with higher pricing achieved being the positive but the lower volume failed to capitalise - sometimes get the feeling there is some balancing at play with volume v price! Good the local pricing has not reduced (at the moment anyway)
Clearly a few challenges/ issues to work through this second half and no mention on farm out - Paraguay problem with rig supplier (which may result in reduced fee’s to compensate) assuming will be late Q1 spud. Fire has NOW had an affect (but covered by insurance) Salta performing well (I think - as no actual details provided)is PPC still on for $40M turnover for Argentina?
USA someone/s been fired and replaced due to delays - need this back online urgent to provide group cash flow
Even with some of the challenges I still feel this is well undervalued as a group business. Interesting to see what happens when trading into the new ticker. I am sure PL will see this a line in the sand which to build from. Have they kitchen sinked as much negative/delayed news to make a fresh start under MAN I wonder.
Will remain invested and will review end of year as certainly not the end of the world and can see many more companies with far bigger issues/challenges to deal with over the next 12 to 18 months!
Too much debt PL priority get this down.
position with the Rig contract remains to be fully resolved due to internal complications with the current owner although this is expected to be resolved by the end of November. At that stage, a spud date will be determined nexy year drilling 4 sure
Average price per barrel received during the Period was US$ 64.75 in Argentina
Average Group net daily production in the period of 1,969 boepd, down 26% on the previous year, impacted by production outages in Argentina, delay in new wells coming on-stream and Louisiana being offline for more than half of the period
Third party financial borrowings in Argentina non-recourse to Group of US$22.9 million (H1 2021 US$5.9 million) with such increased borrowings arising from material new capex spending, including drilling and investments made in Argentina. All debt in Argentina being serviced in accordance with terms. Group debt of US$11.3 million (H1 2021 US$11.4 million) to the UK parent is covenant lite, long-term debt from IYA, an affiliate of the largest shareholder and Chairman under an open line of credit
Vagaries of reporting standards :)
"Mark to market value of holding in Atome Energy PLC as at 20 September 2022 of £9.8m (2021: nil) all of which is not shown in the accounts due to the vagaries of accounting reporting standards"
It would be good to get a proper Paraguay update, hopefully they can make a start in Q4. That just might help the SP wake up.....
Paraguay progress soon?
News due on 3rd quarter Farm out of gas field soon.
New strategy to be announced at some point?
Change of name and consolidation due before not too long.
Atb,
Northern
Dumper??
Can see trades of £40-£140-£112-£117-£225-£275 only. That makes me think someone is trying to keep buyers away bu showing more red trades.
There is only one trade of £3394 which is we can say maybe someone bought yesterday and doesn’t want to hold for loner.
Otherwise….. no seller around,and buyers will be taking everything available.
Hold for gold. Good time ahead.
40mil revenue for this year,with company in profit this year!!
Yes influx buys yesterday notice dumper still here this morning, seen this b4 buys up then sell down.
All indicators are directing to the north here.
Chart shows oversold.
Turnaround is happening with yesterday’s positive movement.
And golden cross is in the forming!
Hoping for price to be 1.4-1.5 before next set of news.
Hold tight, with 40mil revenue,mcap will not be just 10-12mil only.(10mil is our stake in ATOM).
We got about 62% of the shares hold by institutes!!
And some shares are in sticky hands of private investors!
Not many shares are available for trading.
People will start having problem in buying shares here…..
NT will be with every attempt.
Bought another 500k today,
Been here and PPC for yrs - now hold 5m shares ??
Never surrender n all that
Agreed,lots of things happening in background and not even priced in,including the salta three wells,which started producing and producing around 500boepd together!
Company need to give all these info via rns and the SP will react accordingly!
Hold for gold here,I would say.