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Started: grsshaw, 4 Oct 2022 11:34
Last post: claudereff, 4 Oct 2022 18:19
Who do you think will buy the ATOM stake? Maybe PL involved puts people off. As for not making sense re valuation read your own words in the last few sentences maybe they are over valued at 150p
it is fair to say this is a dog of a share and will continue to be . i suspect it will go private one day with 100% capital destruction for all PI's
Totally agree there. Lack of comms and keeping quiet will only add to the uncertainty. What happened to those positive RNS s and interviews he used to give. He seems to have lost that positivity and the sp is still drifting. Likely say should be news on all fronts!
Atb,
Northern
As its clear ATOM holding is not adding any benefit to PPC/MAN MC, I think PL should sell off most, if not all, of ATOM holding and use the proceeds to reduce debt level. At least then this will create some value against the current MC, otherwise not sure on the benefit of holding a listed company within the holding company - get rid I say. If we want to have exposure, we can always buy directly into Atom listing!
Shocking that when taking off ATOM holding from PPC/MAN's MC, it is now worth less than £10m! Turnover just for Argentina was forecast to reach over $40m this year! Doesn't make sense, but PL has fully lost investors confidence and he needs to start announcing some updates that are positive for a change and be clear about his comms, as there has been a few vague statements recently that appear to be manageable at first, then truth comes out e.g. Fire disruption/USA back on line/Paraguay timing! No mention of the farm out update for Q4 - what's happening here?
So much for the change in number of shares in circulation, the price continues to drop regardless!
Positive news Peter please...
Started: NorthernMagic, 30 Sep 2022 21:42
Last post: NorthernMagic, 3 Oct 2022 19:19
I know DRichi
It sounds quite a lot to ask but when you think about it they have been long enough in the industry to get the oil and gas right, they say they are market leading 're Atome - so they should be getting that right and they are in the right part of the world 're developing a Lithium business.
The question is can PL manage to do this. I get really frustrated when we hear so little & the more that goes on the more the sp sign drift down - I know he says he doesn't look at the sp on a daily basis but surely his experience would tell him the longer the silence, the more the uncertainty and the greater the drift, sadly.
Atb,
Northern
I should have included this article as well.
https://en.mercopress.com/2022/08/29/lithium-exports-gain-pace-in-argentina
There are some big players looking for lithium projects, can Argentina give them the investment incentives required.
https://www.reuters.com/markets/commodities/argentine-state-run-miners-launch-first-time-lithium-project-2022-09-26/
Haha! Very good Northern ;-) All we now now is for all of that to happen. Wouldn't it be nice if it did all come off though, would make it a much higher share price.....
for the Farm out to successfully happen, for Paraguay to be a success, needs to be better performance from Louisiana, Atome needs to get more deals so it can build revenue after its current projects are producing. There is talk of lithium exploration and whatever else OK has in mind. Needs to get everything working profitably and not blow lots of money like he did with his early exploits in Paraguay.
Then we might have a growing, non Argentina centric and successful company on our hands.
Atb,
Northern
Started: NorthernMagic, 1 Oct 2022 15:24
Last post: NorthernMagic, 1 Oct 2022 15:24
New name and strategy can lead to some success on all fronts. I think that is what is required to get the share price moving again. At some stage presumably either more funding or a joint venture will be required to move things forward, especially regarding Atome and Lithium exploration. Moreover, as I've said before. I think Atome needs to start filling it's order books with future projects. All imho.
Atb,
Northern
Started: Blackhole2, 30 Sep 2022 13:22
Last post: steven49, 30 Sep 2022 19:08
P L going early in year, name change, Paraguay drill next year, difficult c much short term upside, Argentina is basket case of country there invested in. Took risk hoping Argentina may turn around as a country but not so, trafigura still invested, think he thought atome may be saviour 4 company but not so,
Who has no idea what the master plan is for this share is.
No real meaningful updates
PL gone onto radio silence
Consolidation allowing the price further room to collapse
Cannot see any real vision for oily company other than getting out of carbon based energy......which is what are.....???
Started: ripley94, 30 Sep 2022 10:38
Last post: ripley94, 30 Sep 2022 19:06
Thankyou DRichi.
I have so many different shares I can only know a little about the many of them .
And I hold these with an old broker whose platform not easy to see trade history .
Consolidation was 200/1.
Atome shares were given out as a dividend last Christmas (1 Atom share per 167 PPC shares held) . Atom is a separately traded company, but PPC is their major shareholder with (I think) just under 30% of the shares in issue
Had these in ( X ) noticed big rise , but due to consolidation ( looks a large ratio but can not see details )
Shares look delisted today with no value .
Can see Atome Energy shares on acc ( small amount which appears to be a demerger )
Started: DRichi, 30 Sep 2022 09:21
Last post: AParky, 30 Sep 2022 10:20
Mmm don't know about that one took a big hit when I did. It could work In your favour if they repeat the Atome move. GL
AParky- whatever the maths it seems the one constant is the direction of travel. Well done for getting out when you did.
Should that not be 1/2p DRichi.
Thought PL said Atome was up 36% since float, looks like the market is factoring in his facility to purchase shares at 80p when they are needed. Funds getting used up fairly quickly over there, wonder how much he's paying himself on that one. GL to lth's here you deserve it
A 19,900% rise today which means it's actually 10% down. Ugh..... bloomin' consolidation- at least at 1p a share it couldn't fall much further, from £1.75 a share there could be a long way down yet!!! It would have to reach £100 a share to be equivalent to the old 50p a share. I wish I never invested here.
Still, new name, new start, maybe all the bad news is out of the way and this can climb from here.....
Started: CityWatcher, 30 Sep 2022 09:42
Last post: CityWatcher, 30 Sep 2022 09:42
Might as well still hold as President consolidated whilst the share was well down. I did well selling Atome Energy £1-30.
Shall see if this company gets some recognition. Only about 10m + shares in issue at present.
Started: NorthernMagic, 30 Sep 2022 08:36
Last post: NorthernMagic, 30 Sep 2022 08:36
Website for Molecular Energies?
Atb,
Northern
Started: L3Trader, 27 Sep 2022 18:03
Last post: L3Trader, 27 Sep 2022 18:03
Commenting on today's announcement, Peter Levine, Chairman said:
"President has delivered a period of solid profits..."
I'll only allow myself this one post as I haven't been in this for a few months now.. and don't post on stocks I don't hold, but when I saw this on the loser board today I thought again about taking another punt here..
The recent very significant grow out - imho - of debt here is a shameful performance by PL.. I had half a thought about buying a small few of these again today as the assets on the ground could be made more efficient/ less outage prone with new generation management and PoO should be strong in Argentia pricing for a while too.. and that Atome cross holding is potentially interesting too.. but the debt the company is carrying now is proportionally too much for me to get back in here... and, so I'll just bit remaining holders best of luck and leave it at that
kld1, the other option maybe to sell some of ATOM and use for investment on other new projects. But I guess that's like robbing Peter (not Levine - hopefully) to pay Paul in a way!
No point in selling ATOM in £ and paying down PPC debt in $ at the moment though with current exchange rates
This is not as bad a situation as some are shouting about - not ideal granted, but these things can be worked on. PL may even look to sell some or all of the O & G assets in Argentina!
Any way lets see how this play out in the next 3 months and I will then review my position
Markets won't put lot value on atome just paper profit, can c why now constant sellers over time and drag on share price, quite clearly company not as great as PL puts company across.
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
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?
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!
over reaction?
The total debt is now $34m and they cannot move $ out of Argentina! We are now dependent on oil prices staying above $80/ barrel.
Started: NorthernMagic, 27 Sep 2022 13:29
Last post: NorthernMagic, 27 Sep 2022 13:29
their performance in Argentina. The general concern then for me is when the name changes and the new strategy kicks in how are they going to fund things going forward. Aren't they going to need an awful lot of funding to develop at scale and get returns for Shareholders? I don't think that is going to happen overnight.
Atb,
Northern
Last post: steven49, 27 Sep 2022 08:53
position with the Rig contract remains to be fully resolved due to internal complications with the current owner although this is expected to be resolved by the end of November. At that stage, a spud date will be determined nexy year drilling 4 sure
Last post: steven49, 27 Sep 2022 08:48
Average price per barrel received during the Period was US$ 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
Last post: Dr_Kaboom, 27 Sep 2022 08:24
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"
Started: NorthernMagic, 22 Sep 2022 00:33
Last post: DRichi, 22 Sep 2022 11:36
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
Last post: steven49, 20 Sep 2022 07:38
approval, which needs to be ratified by the IMF executive board, would unlock $3.9 billion for the embattled South American nation, which is looking to rebuild reserves and tamp down spiraling inflation.
Notice argentina's inflation running near 80%
Last post: steven49, 15 Sep 2022 06:43
proposed capital reorganisation which will result in shareholders holding one new ordinary share for every 200 existing ordinary shares· a proposed change of name of the Company to Molecular Energies PLC with a new ticker LON: Men basket case of company longer term with PL stepping down may c better company, will look raise more money I'm sure next year, bad investment 4 trafigura
Last post: steven49, 13 Sep 2022 09:44
Nothing on Paraguay said be drilling end of year, expect news on progress here soon.
God bless the queen rip
Deferred shares:
Had a quick look re article 5 comment but have not been able to find anything specific on this e.g vesting dates - I am out and about for a few days so will take a better look when I get back home. As I see it, it could be worth 5% of your current holding (at time of transfer on 29 Sept @ 6pm) but unsure on the terms of a vesting period. I have emailed the company for additional information.
It will be very interesting re the timing of the release of the first six months for PPC, as these are due before end of this month - will they be announced before the General meeting 29 Sept, on the day or after - if investor want to be involved and potentially benefit from the deferred share opportunity, they they will need to buy and hold shares before 6pm 29 Sept.
I have a feeling there maybe some fireworks (in a good way)during this month and next with news announcements - however, I still think Paraguay drill will be delayed into earl 2023.
Also note from the ATOME RNS today that Nikita Levine has been promoted in the last few days and is now a Director of Atome!
To: 'Director, Business Development' from 'Investor Relations' interesting!
Yes, Seems odd that Malcy has been so quiet on this one. Malcy used to be one of those commentators that PL used to have interviews with and get favorable comments from especially re undervaluing of the sp. However, not seen PL interviewed by by Malcy for an age and my gut feeling is PL is distancing himself from the oil and gas side of the company in search of other deals elsewhere. I feel it was very poor of PL to hype Paraguay though so much and yet it only has a 17% chance of success.
Time will tell - things could turn around but as far as I can see nothing major is going to change things - I could be wrong - haven't heard much about Paraguay of late or the Farm out of the gas field in Argentina then there is also Atome - so there might be a few positives that add to value.
Atb,
Northern
Is there any detail available on the deferred shares? Any value in them?
https://www.investopedia.com/terms/d/deferredshare.asp
Rebranding, a new name these thing can sometimes really help. 1992 and the Premier League anyone? Opal fruits to Starburst? Maybe a fresh start is exactly what is needed here........
I'll keep invested here due to stubbornness, and an unwillingness to sell at such a loss. Fingers crossed for a big strike in Paraguay to turn it all around. 17% chance IIRC. This feels more like playing roulette then investing, but fingers crossed, it might work......
Last post: Tulsatel, 5 Sep 2022 22:12
28 June results:
we are assured that we will be able to move forward with them in a concrete manner within the next three months which would still be in line with targeting commencement of drilling in the latter part of this year.
Due an update this month?
HL
Can sell 500k
Unable even to buy 10k lol
I tried to buy via HL same outcome, no quote but they will take any quantity. So who knows?
Still can't buy any - left it for a little while and have just returned, but not been able to buy any for most of the day now. I've cancelled my limit order for now! Can still sell though - very strange that I want to buy, but no MM willing to take my order?
Do MM's have any stock to sell? Is it just my broker? Is there a buy order in the background being filled? Why not raise the bid to encourage sales... I thought this was the job of the MM - to make a market!!
Anyway, will be a little more patient and see how it pans out.
Most oilcompany's down today on drop in oil prices.
Trying to buy a few and keeps going NT - very strange considering the selling today!
Have placed a limit buy at 1.3!
Started: Brasso3, 31 Aug 2022 07:39
Last post: DRichi, 31 Aug 2022 13:00
Scandalous rates really. But at least it should all be repaid by dec 24....
Also, not that it makes much difference, the LIBOR has now been replaced by SONIA, so that should be the base rate the loan tracks
It is not clear what amounts we have at each rate but lets assume we have fully utilized the $4m at 10.5%.
$4m at 14.05% = $0.56m
$7m at 16.05% = $1.12m
Total interest payment are $1.7m per year. The US is targeting another 0.75% increase in rates next month so Libor likely to go up also.
The US 6 month Libor rate is now at 3.55%. Our borrowing costs on the IYA loan are now at 14.05% - 16.05%!
Extract from the 2021 annual report:-
IYA loan facility
The Company has made use of an unsecured revolving loan facility made available by IYA Global Limited, a subsidiary of PLLG Investments Limited which is beneficially owned by the Company’s Executive Chairman and its largest shareholder, Peter Levine. This facility is subordinated to the Company’s external bank facility.
The total amount committed under the IYA loan facility is US$20.5 million with US$16.5 million at a 10.5% interest rate and additional borrowings of US$4.0 million at 12.5% plus 6-month Libor in line with previous bank borrowing. The facility is repayable in December 2024.