Reading arcm's press press release , I can't see the logic of their argument the deal is bad for shareholders when they have a record breaking short against pmo which is betting that the sp will fall. They are contradicting themselves as the opposite is true and their short will cost them big time.
With 51m shares traded yesterday (sells and buys combined) there's a long way to go before shorts can fully close their positions, a very long way. Expect buying pressure to last for a while yet and with Brent doing well and increasing, the cost of fully closing out short positions is only going to go UP!
Thanks Plebs. Nice to read something relevant and helpful. I think that the news today is only the start of a significant and sustained rise in the sp. At 120 its still dirt cheap. I'm planning to be in for sometime yet. We'll done to all pmo' rs for your patience.
ARCM can't keep the tide back with the flurry of good news about to be released. I believe the Rns on Thursday will be reassuringly positive to add even more pressure on the shorts. Pmo will have no difficulty in lining up suitable lenders to replace this motley crew. When this is all sorted pmo will be re rated and even possibly be a fully paid up member of the dividend paying ftse 250 club. Now that would be fandabidosi.
Dear All, I appreciate more than most that today has been a tad disappointing after the strong start but....... Bear in mind we have t. u. to look forward to, zama update and the closing of arcm short. So, lots of upside to come. Happy week end everyone.
Actually getting new lenders on board with favourable terms is the priority and risk needs to be taken off the table to do that. That's why hedging and debt repayment are so important as this is reassuring for new lenders . We so want to be out of the very onerous terms currently agreed when when pmo was on its uppers and had the begging bowl out. We are in a much more favourable position and set up