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Https://twitter.com/DavidBurton1971/status/1757699293824040975
More rumours
Let’s hope someone buys this out for 10p so I can be gone! One of the most frustrating , this will be 6p in 5 years time. Another company ruined by loan notes!
Debt the biggest killer on stocks for a while now - And higher for longer ain't helping. How much loan note debt is there outstanding here exactly?
Its tiny....100k if that
Negligible debt - and will be gone end of March and converted for equity.
I don’t think many companies have such a clean setup post March:
- No debt
- No warrants
- No CLNs
Just assets producing actual cash.
Meanwhile in Aus, Chairman of PVE who are the JV partner and operator for selva assets in Italy has added shares to his holding this week.
But the damage is done! all the good news from first gas was blown away from the constant selling of the conversions.
We are going to need a few drill permits to recover.
Nonsense.
How else do you think PXEN would have built a gas plant and a pipeline?
Raising £1.87m at 4.25p was not discounted , had no warrants and the only way to raise cash without revenues.
Now it's all set-up - with 2 cash generating assets being able to self-finance future organic growth of assets with no further dilution to shareholders.
No debt, no warrants, no CLN's post March.
Meanwhile, as one wise know it all stated:
"retail favourites are being diluted to death with no production to cover board wages, admin and drilling costs: Cash is king.Dilution always the answer. I hate to think what the MCap for all these non production companies are #BOIL #PREM #HE1"
Selling a load of loan notes to their mates wasn’t the funding answer IMO
Ask yourself why the SP went from 18p to 6p in less than a year!
Set for success from here old boy.
Happy with my 8m shares.
If you’re not invested - maybe go play with your mates or top up your piggy bank and enjoy your half term 👍
Says the biggest bully in the classroom except you cant ban posters here can you
Oh I am invested. Shame you can’t have a reasonable debate! Enjoy your half term
I am expecting that the buyout rumours are exactly that. Just rumours perpetuated by the regular rampers. PXEN has been at lows for over 6 months. Any perspective bidders would've come forward by now to get the assets on the cheap. The share price would've reacted in anticipation. New permits are around the corner and any bidder will be paying more. It doesn't make any sense.
I agree - not keen on any buyout in immediate short term as Mark is prime position to develop assets organically.
Italy is already in play with additional permits seemingly highly likely, with limited obstacles.
Spain is the area I personally would like to see traction on - Mark needs to find a green solution to unlock the asset. This to me is clear based on limited progress to date. It a solution is found, with limited risk and financing, then we have 2 horses in the race.
Importantly, any green solution which does unlock El romeral permits, would also naturally lead to view similar could be done for Tesorillo. Game changer.
Neither Spanish assets are materially factored into existing 20p broker - with 1.3p value attributed.
Above is why I’d prefer buyout / offers to be entertained post next Italian permit, and more importantly, Spanish green solution to unlock permitting on those assets. Then we’re in play.
Either way, exciting times ahead - solid financial and asset footing.
Yeah so exciting
We are basically in ths hands of the Italian and Spanish governments and let's face it they aren't the fastest.Its looking increasingly unlikely we will have any additional drills in Selva this year if the first one is anything to go by.
Yes in outside hands. I think Permit News is the share mover not so much Drill News. Permit news could be tomorrow, could be ????? If the news came out tomorrow at 0700 I think this would be marked up to 9p-10p and could rise to15-16 quite quickly. It would just depend on the amount of one year holders that seize the opportunity to get out level and I think a lot will sell regardless of the future. Most people are traders, most holders of Prospex have paid more than the current price so will get nervous at share price rise. Patience is the key, its a good company, cheap atm and if Tessorillo clicks then its a tenfold.
Well I’m glad I haven’t got 8 mill shares in here!