The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Bumbling. I stuck here cos every other share I thought of as potential buy did what you experienced, i.e. Falls etc. I did derisk at 530 during the last spectacular drop, by selling 30% but was still quids in.
This is one share that has consistency written all over it.
Finally, look at RdR who gave up here just at that juncture and is not doing so well in Kaz or IMM: at least that's the impression I get from his postings. Volatility aside, this is a good share to be in and like Wolfie, I am here for the long ride, not for the quick buck.
ATB everyone
Pete, as Wolfie says, the sale is part of capital light service provider and makes sound economic sense. The impairment charge needs balancing with what the mobile rig would have potentially cost PFC viz, $125 M if they had (contractual option to purchase on completion of contract) kept it + additional future running costs + as Wolfie says, ongoing interest on debt.
PFC is squeaky clean, at least the last 12 m +, and has a powerful reputation in the Middle East, South Asia and also Russia (is that good currently?). Oil has only come to the forefront this year with price increases and thus major explorers re embarking on new developments, which can only benefit PFC long term. With Russian problems and Trump playing politics (please don't impeach him) oil price isn't going to go down!
My view is that the next 12-18 months are going to favour PFC and the SP will continue to rise. This is solely my view, baked with all of my eggs in the PFC a Basket! GLA
Anapa I reckon you'll be selling late August/September! I've been looking in depth on S'pedia and my gut instinct is that with all the sales and making PFC leaner, the net cash is likely to rise to ~ $ £ 1.3 B. I wouldn't be at all surprised if PFC doesn't return to the higher dividends of years gone, i.e. ~ 45 cents annually from next April, which is end year reporting, which in itself hopefully will raise the SP to 900 p by my reckoning. DYOR please and ALTS holders, good luck!
KAZ definitely looks a punt. Baimskaya has caused this enormous "problem". Big Roman is the seller. Same happened with Evraz selling to bushveld 2 years ago the mokopane mining rights. BMN has risen from 6 p to currently 23 p with th vanadium. Can history repeat with Baimskaya/Roman and copper extraction gives a huge bonus to KAZ, not realised by Roman? I hope so! ATB all and have a good weekend.
Should touch £7 by next Wednesday, as long as WG don't drop a clanger RNS in meantime. Last time this went up to 680, it thereafter made a rapid descent to £6 ish and soon after down to 525p. That was around the time that Mark BellUK and Retour sold out ( I always wondered whether they were one and the same). RdR is going through the agonies in the KAZ BB!
Some glory interim news, I reckon it will settle ~ £ 7:50 level and then respond to ongoing news. Always DYOR and GLA. I have been a long term holder since May last year when the SFO brown stuff hit the fans!
STRONG STRONG buy. I think this rise is anticipating good interim report with likely mirroring WG's own message, viz, putting higher sums aside for capital loans reductions and also selling off less er business, which PFC have been doing for 8-9 m!
Roll on late august!
The only concern is maturity of the £ 677M bond in 2 months. Will PFC be able to market a further bond or have they got enough reserve to payoff the bond holders? Interesting to see how it plays out!
Poker, this is old news from yesterday, when PFC announced £1.8 B orders with competition for further £20 B.
I previously suggested go away till September, and have no reason to change that view. PFC is a bugger of a share, but the yield is tops and good reason to hold on. ATB and GLA and DYOR