Fenikso Limited Share Price (FNK.PL)

This company still existing and with cash and some prospects is like seeing an apparition.

I can't even remember what price a paid, but it must have been in the 3p area for a short term trade that didn't seem to happen and so here I am in the bottom drawer club ( yet again!!).

Now I know what Alternative Investment Market really means. It's the alternative to making money. I suppose there are much worse things that come from NIgeria, like 'alternative' romance profiles!

Agreed Tim000. US$32.9m of nominal NAV that should be fully converted into cash over 4-6 years at the current rate. You can currently buy these shares at a M/C of cUS$7.5m so in theory a > 4x from here (as there are corporate running costs eating into the NAV over the period until all cash has been returned).

I anticipate the Board saying something soon about their proposed options or strategy in how to accelerate getting value back to the Fenikso shareholders when they present their 2023 end of year accounts and report.

I have plenty of these shares already so won’t buy anymore but perhaps a punt for some others but only with money you can afford to lose as the realisation of cash to Fenikso is totally dependant on receiving cash from the oil liftings that Lekoil is undertaking in Nigeria so doesn’t come without risk.

DYOR.

We only seem to be giving Savanah less than 30% of the Lekoil repayment and building cash reserves with the rest.

I've started to average down on the off chance to BOD have a something up their sleeves.

I could very well be throwing good money after bad, but I'm willing to take the risk.

If the same amount ie US$1,290,672 dollars received this month is repeated for the next 11 months then the income will be US$14,197,392 then the US$13,298,493 outstanding loan might be paid subject to the ongoing administration costs levied by the directors. This is a fair punt but not for Widows and Orphans! I am prepared to see what happens and not cash in but would not increase my existing holding.

It's not gone anywhere, we are receiving it in monthly installments from Lekoil's oil sales. There's US$42,248,833 still left to come.

So we've got approx $1m/month income and an Mcap of $9m. This has got to re-rate soon even if the BOD can't figure out what to do with the cash