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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You could always look at Gold Oil GOO just had some good news, got some shares in there the company could do well in the near future but its like everything at the moment even good news doesn't seem to do much. Anyway we must be due an update from PTR soon????
a share in my portfolio that hasn't fallen today.Just got to find one now that's gone up.Always the optimist.
bjp1 - it's been going on for some days mate. A lot of buys going through @ 3.50p. Definitely something fishy going on.
I bought 100k at 3.50p to get my average down but showing i paid 3.59p totally wrong what is going on here
People are loading up here under the radar. Naughty. Very very naughty.
I am really struggling to understand what is going on here! A very large trade at the end of the day. Was it a buy or sell? Price hasn't budged.
Well 112 currently offline produced 160 BOPD.
Take it we are just waiting for news on the next lot of drilling?? I believe this bod have got to get the 3000bopd plus in the bag asp and then some confidence might come back in to this share, is there still some wells off line that are due back on ?
rough - nice post cheers. Yes can understand your caution. It's difficult to imagine there is much downside from here if I'm honest, I think it's already been slaughtered! We'll have to see what happens from here but there is clearly mistrust by the market I can't deny.
Love the strong sell. That just another indicator to me that this is at the bottom. As for the price of Oil, grab it while you can as its going to soar north again real soon LOL
When a company has debts greater than the current market cap and wells on pad 1 and pad2 that have pressure issues means downside....oil price has fallen 25% over the recent months so ptr have high capex and opex. if ptr were selling cira 3000bopd they will now need 3700bopd on current oil price
Dibs I know the figures, what I'm saying is tread with caution, I own 500000 of these now at an average of 3.9p, was far higher, and personally i would prefer a farmin to a takeover, and yes I agree that there is a tasy upside, but then there was when this was at 60p. GLA
Tell me the possible downside from here rough? I'd be interested for a considered opinion. IMO this is either going to get taken over or they will get a farm out. Note there is still lots of Institutional support for this. They have not bailed.
Is seriously *UNDERVALUED*. MC = £23.22m (645m shares * 3.6) - Company is profitable - Currently producing 2,800 bopd - this could increase in coming months - NAV 8.86p (2011 accounts) - Price to Book Value 0.39 - Company has substantial Debt of total £36m. However this is manageable and would be paid off in full by 2015. HOWEVER the important thing to note here is that this company will not go bust. It will be taken over before it ever gets to that stage and the takeout price will be someway north of where the SP is now. Anyone buying PTR at this price (3.6p) would effectively be paying about £60m (£23m MC + Debt £36m) for a producer with considerable further upside production potential and having written off all debt so free cashflow (less opex). Of course no one is going to get PTR for a piddly price like £60m. OR there will be a farm out (the company have been in discussions) and, if so, that would be VERY bullish for the SP and future going forward. So, for me this has now become a screaming BUY at this level and I have topped up substantially today. We may get an operational update next week (I think this is highly likely). DYOR but you won't now find much better value than this in the oil producing sector terms of a potential % return taking at the very longest a medium term view. No brainer.
I've been saying for a while now that there's something happening thats very smelly. I hope that I'm being a tad paranoid, but I've been trading for a while now and this share is one of those you tread carefully with.
Starting to sniff some rather strange trading and price action here. A number of million + trades going through this afternoon which, on the face of it, look like sells yet the price is up. Hmmmm, any thoughts out there?
been watching this share a while and thought it bottomed out, boy was i wrong lol bigger loss every day that goes along, still presents and opportunity i suppose
I couldn't agree more. They certain aren't breeding confidence in a company that should have a higher sp than this, or is there a nasty lurking in the background as we have seen before
Yikes the slide on this share price continues. Monkeys couldn't have managed this company any worse than the current management team..
soon? been a while now
This was announced on the 10th April so worth posting up again as progress is clearly being made.
Thanks Dibs61, that was perfectly adequate, and saves me hours of digging. I think your right ref: bottom, seems to bounce of anything lower....i'll do a bit of digging myself now, and keep a close eye for any up lifting news to follow, the previous high of c.70p shows this clearly has big return potential, should favour re-visit this company!
Don't worry, that was a good clear post.
Sorry that wasn't very brief was it?!
Hi Poacher - If I was to summarise it very briefly its largely because of :- Unfulfilled management promises regarding forecast production levels - consistently fallen short of predictions. Operational difficulties - they work in a very harsh terrain with difficult (but I must emphasise not impossible) conditions) and there have been various technical issues with wells . In addition debt has grown rapidly in the past two years, I'm not exactly sure why but I would guess it's due to all the capex of developing their Arbuzovskoye field. Result = market has lost faith in the company. HOWEVER - the company still has a number of II's with a substantial interest. The chief creditor Macquarie Bank Ltd has a substantial holding. I have invested here because I like trying to uncover recovery prospects and I think we may have hit the bottom here. IF they can boost production successfully and start to bring down debt we are onto a winner. There is also the possibility of a takeover at some point. ATB