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The strategic transition is intended to re-energise President with the Group evolving into new horizons whilst at the same time benefitting from its profitable core business which delivered profits after tax of nearly US$5 million in 2021, free cash generation of some US$13 million with turnover projected for 2022 at over US$40 million and significant current operating profits, material exploration opportunities as well as the 28% investment interest in ATOME.
Was expecting him stand down, fresh start new name, should be positive longer term, Argentina just not worked out all no now making profit, very high risk venturing into these type of countries, incubator very long term, lithium is way go all no rather him come away from Argentina, my guess he was pressured step down, by some of bigger investors
Lithium in the Salta Province.
The Lithium Triangle, a resource rich region of the Andes around the borders of Chile, Bolivia and Argentina is considered to hold over 50% of the World's commercial lithium reserves. In Argentina, one of the largest lithium producers in the world, the resource is mostly found in the Province of Salta - the region in which President has the Puesto Guardian Concession from which it produces oil.
President Energy is pleased to announce the appointment of @TavistockTweets as the Company’s Financial Public Relations advisors #PPC #PR #AIM
Jst hired pr team too
Oh ffs
It looks like we will have a bright future after all .
Isn't there usually a review of the previous year and an outlook on the plans going forward.
As far as I can see there was just a factual statement of what the company do!
Did anyone attend the meeting and was there a presentation and discussion of the plans going fotward?
Atb,
Northern
No news today then, I wonder what they talked about - assuming very little by the looks of it...
Maybe they have given up talking to the markets, in fact it usually makes it worse when they try - Ha ha!
Has PL given up, maybe he is looking to lower the SP in order to buy PPC on the cheap, can't think of another reason!
Anyway, its still way undervalued, so I will look at this later in year - nothing to see hear it seems...
Good Luck All
Also ringing in my ears is the PL comment re receding advice about news flow and drip feeding regularly will change as it has no affect. Will it be less is more when it comes to RNS announcements - not saying it will all be tomorrow of course, but I’m looking a little further out than days, weeks or an AGM ..
Re new - I was thinking more about Green House Capital and what they are going to do with it - will it be Atome 2 but this time held 100% rather separate listing? interesting they stated in the year end report it would not compete with Atome so they must have a rough idea on where they are looking to take it… With PL stepping back from Argentina operations I am second guessing there’s plenty going on in the background with PL dabbling in new ventures - my concern is how do they pay for it - which then raises the recent bond questions - is this to do with funding GHC? maybe wrong but it’s a bit of side bet from me that something new is being worked on… let’s see tomorrow!!
As you know NM I'm not invested here anymore but pop in to have a look at the state of play.
Wouldn't be surprised if Levine doesn't stand to be re elected tomorrow now Atome is up and running.
I'm certainly with you on that one grsshaw,
They will probably argue that the new things will be the Paraguay drill and the gas field Farm Out and nothing new other than these on the table. However, PL has been very quiet for a long time and occasionally can surprise for the better. Fingers crossed - it really does need something new imho.
Atn,
Northern
Too thick skinned lol its OK
Are you sure you are still not long steven49? Given the amount of whining you do here doesn't suggest to me you have no skin in the game.
By your own admission you are not an experienced investor maybe this game is not for you. Only saying, nothing malicious certainly do not want to offend.
Anything price sensitive is rns, really need a tend these AGM fire questions away
Can't attend AGM myself unfortunately, but I am expecting a RNS tomorrow with a presentation to cover what will be discussed at the meeting. Wishful thinking on my part, but maybe even a RNS announcement for some new opportunities/developments that are 'work in progress'
With PL in the UK, maybe even an interview following in a few days!
Pity they can't stream the AGM online though!
Good luck All
Difficult gauge markets at moment, will either rally or another big drop, I'm keeping cash at moment reluctant buy any think other than quick trade, if markets decide go much lower will take all with it no matter how good company
Let us no how AGM goes, really need some1 there fire some direct questions at them, often these agms r poorly attended and just tick off.
Let's see how it goes tomorrow - I am looking forward to an update on where they are and hopefully information on why the recent bond was required - this may answer a lot of investors questions/frustrations!
Revenue actually appears to be on the increase based on the Q1 and forecasts for the rest of year. So, I will judge if a failure over the next few Quarters. The SP reaction will be very interesting to watch.
I agree that SP history/performance is clearly at 'failure' status, lets see if an update re revenue and profit turns this around - Trading into Q3 now, so we should receive a trading update on the last 6 months either tomorrow are very soon!
Personally, I feel this will do well in the near term and into the end of the year - certainly should be well over 2p in Q3 into Q4. I have my money where my mouth is, so let see if I'm right!
Been at helm 4 long time with failure P L, investors can request meeting 4 him be removed, ceo should not be rewarded 4 failure
An other opportunity to top up today - I have now reached my target holding in PPC - all under 1.70 and now have quite a large holding for an individual holder. Pity I can't make it to the AGM as I would have liked to have met with Peter - I did try, but can't rearrange very important meetings on Friday! My business comes first!
Share price has taken a battering, but when you review the MC losses over the number/value of shares traded, it just doesn't make any sense. This is the time to buy undervalued shares, just at the time the market makes no sense or moves on very little volume.
When this does move higher, it will move fast - it may well drop even further but when very little volume is moving PPC, it doesn't concern me.
I sometimes get the feeling that someone is just selling into PPC on days the SP might go higher (example today) - regardless of what the share price is.
Anyway I will wait patiently to see if I was right or wrong..I am happy with my holding and prices paid.
Good luck All
Borrowings at year end increased to US$29.3 million (2020: US$17.7 million). Of this, US$18 million is third party financial debt with the balance owed to IYA, an affiliate company of Peter Levine. The increase in third party debt relates to the heavy capex programme last year totalling just over US$ 14.8 million. This has always been worry 4 me particularly as much of it borrowed through PL at good interest rate, with not greatest success financialy 4 ppc, not sure markets like this, lot debt 4 size of market cap, personally think argentina been a bad move 4 investing from PL that's not paid off,
Growing out debt here at this - bull O&G market - time is an awful way to go... also it's deja vu all over again for the nth time over here at ppc.l NM.. and that's a large driver of this horrible s/p decline imho..
Sell on value of the co. in five to ten years time in a greener and greener world will be ongoingly diminished .. so it's about DIVIDENDS asap.. and this co is so far away from a dividend it's frightening..
Generally, when people say AIm O&G is not about dividends, it about grow and sell on.. I say while it wasn't about dividends and was about grow and sell on 5 to 10 years ago, it actually absolutely is now.. that old model of value has no meaning in the current markets eyes.. and the current s/p's of co's like this and many others similar to it prove this, categorically..
to ask such questions and to get a verbal answer I hope it is asked at the AGM.
The question is what are President Energy(the oil and gas part) intending to do in the next year to boost Shareholder value?
Is a change in strategy required, if so what are President going to do to achieve this?
Atb,
Northern
Good luck under valued 4 sure, but 4 me il hold my cash, not convinced this Paraguay will get drilled this year, pays too read up on argentina country its self and why possible share price declining, need look at wider picture, again only my thoughts, often wrong,