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Thanks. A useful update from the Chairman. For those of us already in it’s a case of sit tight and wait (still!) For those not in it a case of whether his words give enough reassurance to invest. Upside potential must surely be greater now than downside risk. Buyers now are getting 20-30% discount on previous placing
Or FPSO even!
Sorry for the ignorance Jarem ....FSPO?
Look at the rise on very little volume! Nearly 16% at one stage. No expert but assume it's because of the small free float? Which would indicate it will go mental pretty quickly on good news..... I hope my 3 year old will thank me for the 10000 shares she has when she's 18!!
'Nomad' doh! Interestingly can sell the whole lot for 0.311p tho
I'm getting a service error on Interactive Investor. Norma's appointment coming? Let's hope so
I first held at 2.3p :( !! Averaged down over the years though - still underwater at current SP but it should rerate at some point once trust rebuilt and assets adding what they should be to the market cap. I see you are also in or post on URU and 88E - best we don't talk about the state of those tho :( This one is interesting. They clearly don't have cash to buy an asset so i'm guessing any potential asset would either need to be financed by a placing (so big dilution but means to an end), done as an RTO or some clever loan/debt structuring.
Haha, trust me guzzler I have a considerably larger holding in Prem than here so wouldn't say I'd be best pleased either. In any event would of course massively depend on what deal was done if there was an RTO or buy out Just thought something must be keeping this from folding completely. Probably just making 2+2 = 5 though...
IMO this one could go any way and is a sheer punt (i bought my original shares in 2012 at 8.5p - averaged down more recently in the hope of at least coming out breakeven) This may be completely wide ball but given NYO's links to Ethiopia could an RTO be being worked with an asset there? Only ask as Circum Minerals is looking for a way to market with their massive postash resource in Danakil region. If they decide to do it themselves rather than sell maybe they would be up for an easy way to market?
By my reckoning they should have around $19m in the bank now. Per the 30 June 2016 accounts they had $2.2m on deposit and approx $1.1m cash (excluding the funds they had just received on the 1st Arjaan plot sale) For Arjaan plots net received has been: Plot 1 - $6.4m Plot 2 - $3.7m Plot 3 - $5.7m So a TOTAL of $15.8m. Operating costs are fairly minimal so should have around $19m in cash (i.e considerably more than current market cap) If they decided to distribute $15m, of the Arjaan cash that would be 0.54c per share. Not half bad. I think it depends what they want to do with the business going forward as to how much cash they return to shareholders.
Assume it would be via some sort of special or interim dividend. Will be interesting to see how much they distribute and what they plan to use the retained funds for. As this is now basically a cash shell.
Hello hello RNS all plots sold and cash received hopefully some cash back soon. Very quiet on here....