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If there is to be an Appraisal Well, is the next well definitely going to be MOU-4, or another location?
Somethink about up/down dips highland...........!
so probs yes, if the dips are correct......... :)
All the best (Time scale for #4 ..............? :()
No Phoebus MOU-4 is not funded yet IMVHO, posted my estimate of the cash position recently (1.7m Stg) and hey presto! another placing RNS landed.
One big positive re PRD is that their costings are very clearly stated in the admission docs, presentations and reports.
Thanks Nigel. I'll go through the info this weekend.
You're welcome Phoebus and by the way, only one other PI like myself called the cash position (which is the critical fact in micro companies). Not GRH, not MeM or any of the harmonious choir of loons...
Very sensible Nigel. I try to always check it too. Saved me from quite a few exciting plunges in various stocks.
Very sensible Nigel. I try to always check it too. Saved me from quite a few exciting plunges in various stocks.
Nige - I called the cash position
Ah yes I remember now mate, 1.6 mil Stg wasn't it?
this was my calc:
£1.325m Cash at 31/12/20
£1.785m Placing 25/03/21
£3.560m Placing 14/04/21
------------
£6.67m
-£0.75m Running costs (based on fully year 2020 cost of £1.4m.
-£1.80m Drill costs for MOU-1
-------------
£4.12m
-£1.785m lets assume the last placing has been earmarked for a "secret" project
--------------
£2.335m that leaves this as cash
Lets call it £2m to allow for "other" costs - so how much of a fundraise do we need to do to drill MOU-4 and have sufficient cash in the business as WC?
Ok Croxie, I'll have another look at my calcs over the weekend, I seem to have over estimated the cash burn but I did add contingencies for TT investment, desktop LNG projects and enhanced M and A.
Thanks v much for your honesty, in short supply on this BB...
Croxie....for life of me, i honestly can't see a placing for £3.56 m on or about 14/4/21....and as far i can recall, see, last few have been for £1.5-£1.7 m sorry if i got it wrong but been through the Rns's a few times after your post
Gla
Taff
Bdt
it might be me! let me double check!
I was just about to post the same and ask whether I was being particularly dense and not seeing it.
The June placing of £1.5m and the July placing of £1.3m give an extra £2.8m not on that list which leaves a similar final figure if that one is omitted.
I have absolutely no idea where i go that from but its was very precise both in value and date! corrected calc below which totally explains the fundraise:
£1.325m Cash at 31/12/20
£1.785m Placing 25/03/21
£1.5 Placing June 21
------------
£4.61m
-£0.75m Running costs (based on fully year 2020 cost of £1.4m.
-£1.80m Drill costs for MOU-1
-------------
£2.06m
-£1.785m lets assume the last placing has been earmarked for a "secret" project
--------------
£0.275m that leaves this as cash
Hence the move to the AIM market.........!
now that they're mature enough........... ;()
All the best (ya know it makes sense...........! :)
Well at least you know you had us running around as a result!
That does make sense, so sitting now on £1.575m
I'm not sure if the 1.785 is still for a secret project or generally applicable for the list of future work in the last RNS.
Always good to go back through historical RNS's...........!
https://www.londonstockexchange.com/news-article/PRD/statement-in-relation-to-share-price-movement/14663814
All the best (......and then......... :()
I was wondering whether the £1.785m was a deposit but it defo felt like it was raised for a specific reason and not just working capital.
Thanks for spotting my error TT and taff!
At least we both aren't completely mad Chesh! just one of us...could be me or you... :) all the best
I wonder whether PG rang ONHYM to request his million back, as he's now moving to Appraisal, and was told he had to prove the discovery first. Hence the rapid placing?
If I know I'm cuckoo...........!
does that make me mad or cuckoo you.........? :()
All the best (sol relative............! :()
To me to you ...........!
it's dropping now.............!
All the best (4p buy back...........:()