Member Info for BA_64

Hopefully you did not listen to posters such as HHRETURNS and Squirrel whatever they’re called, there was NEVER going to be a placing. Dear oh dear.

Are you still “taking advantage of these low prices”..?

It is a positive they managed to get it done at 7p to be honest, was expecting much lower.. Still, +10% on my recent short so I’m going to take profits down at 6.9p ish. Thanks all!

10:10: Pantheon Resources PANR Placing to raise $10 Million

….

To be honest post the $55m carry if there’s further development there then its a great position to be in; as i understand it there could effectively be a myriad of options open to them post the first appraisal well (for which they get this free carry as you say).. plus optionality from other basins w/ Navitas.

You should stop ramping, this is beginning to become a pity case. I do genuinely start to feel sorry for people still holding this, for goodness sake.

That was meant more generally at the imbeciles that have been ramping it. Regardless, best of luck

Yeah, i had to pay up 28.50. Feels a bit rich but going to run it into the Summer so fingers crossed

Have started buying here. Think this morning’s news means more newsflow to come here and cash payments should increase. Slightly tight on the cash side but I took a look at the low opex and broadly comfortable given Navitas..

Seems I’ve hit a nerve. I’ve made 6 digits so far here, much more than “pocket money” totally at your expense by the sounds of it. I don’t feel the need to bring personal attacks into it, you’ve been wrong and i imagine you still own this so hope you’re prepared to nurse yet further losses!

Not nonsense at all is it. I am just profiting from having done my own research and at the expense of people such as you

Couldn’t really care less what you think. Making good money here and now it’s a bit of fun to see how low it’ll go

Seem to remember you saying a similar sort of thing and trying to ramp when I was short in the high teens as i expressed my view these guys were never going to get any oil out. How did that workout for you? LOL

Shorted a load more yesterday myself, recycled half my profits from my short when it dropped from 18.2p and my view is the next fundraise will be somewhere in the single digits.

Waiting to see if the moron donkey rampers try to buy again today around 8p and will continue to slot them there or above.

No “raid” just shorting, please keep buying more!!!!

Interesting mm

I also think the next raise is coming around 5p (excluding any positive news between now and the cash call).

Cash runs out in H2, so to be sensible they’ll need to have a funding solution in place at least 1 month before that due to time constraints on paperwork / documentation etc so looking at a fundraise in April/May latest in my view.. sooner if they have any positive news to share and raise off the back of that.

670 bbls/d production with an unproven 2C discovery.

Not going to be worth much at all based on other private sale comps based off $15k–$35k per flowing barrel, or 2.0–4.0× PDP PV-10 (strip-adjusted)

Yep I was short from the high teens.

How is saying they need to raise “garbage”? There is literally a going concern statement in the full year results that says they’re out of cash by the second half of 2026.

So you have 3 main options (more debt, farm out or equity fundraise).

More debt would likely be another CB, so dilutive again for shareholders

Farmout seems unlikely given the lack of tangible progress delivered so far and the ice up there now

Therefore equity most likely in my view

Out of cash by H2 2026 was the main reason in the results I’d say. Means a fundraise sometime between now and April I’d guess.

Without serious positive newsflow any fundraise now would surely be 5p sort of levels

This isn’t “funding in place” by any stretch of the imagination, rather it’s management keeping as many options open as possible.

You can find the going concern statement on page 60 of the annual report, and I quote,

“The magnitude and timing of any funding requirement will also depend on the final results of the Dubhe

1 well and the consequent impact on the Company’s 2026 work programme”.

So effectively this is now even more of a binary punt.

Well worth mentioning by the way that if it were not for the derivative re-valuation (CB), then looking at the actual OPERATING LOSS of the business it has increased YoY from £8.8m to c.£12.6m… so a 43% increase.

I’ve made a pretty penny on this having shorted the hell out of it in the high teens, might go long at 5p ish on the next fundraise for a punt (once the ice has thawed).

Best of luck and be careful