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indeed Porschefund… and disgruntled PI selling in illiquid situations can indeed have a big impact .. so it of course might be PI driven to some - or even large -extent..... and therefore Olderandwisers comeback of share repurchase program might be a useful cover all bases one. But very early in this 'new' companies life to be starting a share repurchase program - or indeed dividends either - perhaps need to get at least a years worth of strong audited results - especially FCF - out there first, I suggest.
Even allowing for some disgruntled, capitulating PI selling, which I'm sure is also happening, nevertheless a strong company bid for shares would speak for itself.
P.S. Can someone close to the company please suggest that to them?
NtM- Your suggestion assumes it is bond holders selling and not PI's.
You mean why doesn't SAVP engage in a share repurchase program for a limited time, to match the estimated remaining bondholders' equity swap position. They must have the cash from the SevenE cash flow to attempt this. And what a message that would give out to the market!
Surely the hard bit is getting back in profit in the first place Bluebelly :-)
PS: Why didn't they further co-ordinate existing - and even new too - II's to mop up more/remaining bondholders shares in late to mid teens p ? Much less left out there now than to begin with and now huge bang for buck in terms of averaging down high averages for relatively little outlay for existing II's.. if prepared to undertake such an exercise in early 20's or late teens p previously to clear a good chunk down, why not one more concerted effort to clear the rest down, not least as altogether for a considerably smaller outlay this time round?
Is there a stock that is not undervalued? Especially oil? It means nothing. What it does mean is this is still sliding by the day.
Wow 89p, I must have missed that or forgotten it.
The hard bit is making sure we hold when we are back in profit, due to the fear of losing it again.
BB
Bluebelly broker notes were typically predicting 89p after closure of the 7E deal but market sentiment and coronavirus impact has led to the current position. I also sold other shares to top up here but stupidly did so at 21p thinking it was close to the bottom and that the Niger update was imminent. If we see 45p this year I will be very happy
At this rate. Then where will it go?
50% down from the high in Nov of 28.5p.
I've sold some of my core holding from my favourite share, to average down here.
Average is now 18.3p, just 5 weeks ago this was trading at 19p+.
The only risk I can see is the management of the debt & the CEO reward over 1% of company value.
However the large holdings from II's and the fact that most are increasing give me the confidence to increase my holding.
Thanks to all the knowledgeable posters here, I see this as a massive opportunity. 45p is a 200% gain from this level. Would 45p make SAVP undervalued after Q1& Q2 updates and Niger CPR??
BB