Whilst Bob dudleys comments are interesting they are his opinion, that's all. I'd rather see some reassuring facts from Tony Durrant in the TO update on the 9 th pertaining to record production, large debt repayments aove and beyond plan, Zama sale progress, re fini going according to plan, and to reiterate the board are totally focussed on getting the balance sheet de risked to future proof the business. That'll do nicely!
There will be a steady rise from now until 120p which will be end of q1 2020. Bear in mind this level (120) was reached more than 1 year ago, so whilst the recovery in SP is welcome, we are only getting back to historic levels of sp when the debt position was much higher. In truth, PMO should be way higher than 120. IMHO. Strong update on 9th Jan and poo above 65 dollars will support a prolonged recovery well into 2020 .
Plebs, I checked with IR re tax on sale of Zama. The tax issue is dependent on whether pmo sells the asset or the entity which owns the asset. This will be considered in the commercials with preferred bidder (s) so can't be determined just yet.
This is more fake news. Strategy is debt reduction through positive cash flows and sale of zama, not raising more cash to burn on exploration for new assets through rights issues which will depress sp. Ignore these malicious rumours.
All waiting for the next move, and who will blink first. Fascinating watching this play out. Like that bike race when they all follow each other really slowly then some one makes a frantic break for the finish line, which in our case is 9 th Jan.
I think it will be held sub 95p until the TO update on 9 Jan. Pmo clearly not going to give any zama updates until then. If the news is positive, incl debt reduction, as expected, this will give sp support to push on and break through the glass ceiling. Upwards and beyond 100p.
And........ the distinct possibility of the freedom to pay divis once re the finance is completed which are currently ruled out under the terms of the current lending terms. Now that WOULD be game changing!!!