The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
They do don’t they, interims to be released before end of Dec. The company are doing great business, with the volatility in the markets post September as well they are likely to still be doing a roaring trade.
Revenue of £4.8M & £2M profit in just 6 months! Superb margins. Cash balance of £6.5M. Mcap only £11.6M.
Cheap as chips
It’s difficult to know where the sp could go, all depends on the deal agreed, in the recent interims the company said it was targeting an acquisition with the value of £2-50M so a potential 50 bagger! Having directors aligned with shareholders and a supportive cornerstone investor it should be extremely fruitful no matter what. £1M Mcap for such a clean SPAC seems cheap to me. Especially as they have £400k in cash, £2-3M+ prior to a deal would seem a much fairer valuation bearing in mind the main market listing alone is worth £1M+.
Think we could see the rise continue today, huge volume yesterday in comparison to normal which will be flushing the seller, should be trading far higher on yesterday’s numbers.
Nice little mention by Zak Mir: https://zakmir.com/stock-market-watch-amc-brh-jkx-msmn-must-orph-rms-tlw-tsi/#gs.knwl93
Forgot to post the link! https://t.co/aqHWEMdWiC
Earl, you appear to have answered your own question. Here another great read, SPAC’s/shells are becoming increasingly popular in London. I haven’t found a cleaner one than this.
Despite having a seller in the wings it’s had a very strong day. Record volume and on the verge of a breakout on the chart, think we see another strong day tomorrow as people buy the disparity between financials and mcap.
Few taking note of how clean this company is, the best shell/SPAC out there IMO, position early and sit back ready for news. Any deal likely to be of substantial value with directors holding 29.2%. Interests well and truly aligned with shareholders.
Mcap: £920k
Cash: £404k
Directors holding: 29.2%
Shares in issue: 8.4M (tiny ff)
HY report: “the Company will be able to target an Acquisition where the target company or business or asset(s) has a transaction value of between GBP2 million and GBP50 million.”
SPAC’s are becoming increasing popular: https://t.co/DLdrahI73l
Directors and management are not taking any remuneration until the first acquisition is made! Current cash balance will last 1+ years as a result. Serious skin in the game means any deal will be as non-dilutive as possible. Dean Gallegos (the MD) is the largest shareholder with a 19.4% holding! Australian Special Fund are cornerstone investors and will be supportive should further cash need to be raised for an acquisition.
Jacqueline Yee was added to the BoD in May this year to asses tech focussed deals. Technology companies have been going nuts this year... She is a Mentor to DeepTech Start-Ups on Singapore IoT Tribe Accelerator programs and an Enabler Member of The Global Fintech Connector.
This is the cleanest SPAC/Shell I’ve seen and is now focussing on tech as well since Jacqueline’s appointment in May. The company are optimistic that something will happen soon.
What an article!
The article seems to confirm that PVR will retain 40% and LOGP 10%, same as the APEC deal.
“He said the company now favoured drilling a number of production wells instead of further appraisal test wells.”
Huge news! Straight to production.
https://t.co/5xYQho0sYU
Daily: https://twitter.com/confluencetradr/status/1296408787662835715?s=21
Monthly: https://twitter.com/confluencetradr/status/1296371434474938368?s=21
? Thomas Anderson CEO of Dunraven Resources. Over 30 years’ experience in leisure, fund management, forestry, oil and gas. Chairman of Circle Oil Plc from 2004 to 2013. Thomas is a business graduate of University College Dublin.
https://t.co/aVaJCJZTSI
Providence Resources P.l.c. have been informed by Thomas Anderson that he holds 28,767,501 ordinary shares of EUR0.001 each in the capital of the Company representing 3.4% of the issued ordinary share capital.
Not a traditional TR1 but a new significant shareholder!
You’re welcome. It most likely was as I’ve mentioned it a couple of times. Barryroe looks like the best bet for sustainable energy in the country. Carbon capture tech to be utilised and could use nearby infrastructure also. Greens have very little to complain about. Unless they want to be solely reliant on imports in the future they will need to back a new project and there’s no better than Barryroe IMO.
The amount of gas is referred to in the annual report chef.
Barryroe is one of the largest remaining undeveloped fields in Europe and the Base Wealden reservoir potentially contains between 0.5TCF and 1.2TCF of recoverable associated and non-associated gas, to be confirmed during the appraisal programme.
https://www.insider.co.uk/appointments/veteran-north-sea-boss-joins-22294201
https://the-nrg-group.com/about-the-nrg-group/
https://t.co/nV0qJ6pEjH
Superb, new NED Andrew Mackay sounds very good!
He already holds 1.66% of company shares so very familiar with the co and Barryroe!
Invaluable experience dealing with governments and probably has lots of contracts!
“4 years in the UK government's
oil & gas division.”