It was a fund that announced earlier in the week they were going to buy at the end of play today £120+ million of shares. Mm’s took it down to rinse the weak and fill the order. Shocking that they can get away with it.
Question, with all this buying pressure are we not at risk of being ahead of current results and over inflated market cap. We don’t yet know what we have as no MRE. What happens to the share price when they have fInished acquiring.
Before anyone accuses me of de-ramping, I’m not complaining about where we are, just trying to gauge where we go from here between no and MRE.
Cash spend to 31 December on the Solan project stood at $1.4 billion. Premier is funding partner Chrysaor’s share of capex in return for 100 per cent of the field’s cash flows once on-stream until the loan and interest has been repaid. Meanwhile, Premier continues to work with Chrysaor over the partial refinancing and/or sale of the loan to Chrysaor. As at 31 December, the outstanding loan and interest stood at $547 million.
Agreed Mercman, MRE would be a perfect time for NCM to make a move. However as the share price has risen so well in anticipation of the MRE it wouldn’t surprise me if it pulled back hard for a short time as people sell on the news. Some Short sighted may be disappointed that it’s not at least 10moz