The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Fair enough NVG, understand your reasoning.
There’s been a fair amount of debate as to what we are currently funded for and for how long on the back of SW’s comments on the interview from 25.10. I’m hoping his comments were in good faith & Victory monetisation will be executed prior to any further funding is needed.
Raising at this level would really not be good, agree on that.
I understand the annoyance at the management, and indeed share some of it.
But is it really fair to say this is now a coin toss? That would imply a single asset with a 50/50 chance of success. We may (or may not) be facing that with WN, but Victory should be monetised in the non too distant future, Daybreak shares can be sold & Parta is not completely dead. Added to that there are other prospects in the PEDL where WN sits & other assets in the Corallian portfolio.
Absolutely not where I would have hoped to be after 3+ years invested here, but not a coin toss yet IMO.
Strategic review launched on 20th Oct.
Any thoughts on possible timescales?
"Ultimately of course it’s a question of what happens to the cash that rbd receive as shareholders. That debate will of course be a tricky one .. further investment in WN or give it back to bombed out shareholders …"
Or....both. It's not a binary decision and there will be plenty to go round.
"79 posts today, 25% belong to one person, says it all really"
Just click on his posting history folks, 355 uninformative, negative cr@p 1 liner posts on UJO in 30 days, quite an effort really & we all know why........Pot, Kettle etc.
I don't hold here, but spotting a little weasel like you is all to easy.
What's your current rate, £10 per post? Nice little earner for you this month eh?
"I just point out what the company has actually published" that's not "just" what you do though is it RNST?
Have to say, of all the paid derampers/detractors on this board, I hope they pay you the most, you really put your back into it.
"Companies don't specify cash" they don't, they gave a rough approximation.
I'll leave the spouting nonsense to you, you're a gold medalist.
Any comment on the 25th Oct interview about being fully funded? Didn't think so, doesn't suit your poisonous narrative.
Looks that way: 11:55 onwards on this interview 25th Oct:
https://www.brrmedia.co.uk/broadcasts/6172c4e6df7b150b81e923b0/reabold-resources-company-update/
"They didn't specify cash on hand as of the date of publication" - Companies don't specify cash at date of publication of accounts, so not a surprise.
"but safe to say its rather less than the £6.4mm." - maybe, maybe not
Overall, cash is not really a major concern at present as they can either sell Daybreak shares if needed or use cash from the imminent Victory sale.
Is that really fair NVG? Could say B1Z was looking dodgy because of the time taken to complete, but to say you correctly predicted A2 would not be a success months ago is a bit Captain Hindsight surely?
mannan, same as Uggy, he's on ignore (unless I use an ipad & am not logged into LSE, so I sometimes see his ramblings).
Genghis15 & RNSTranslator, 2 non shareholders spending an awful lot of time making negative posts on a company in which they have no interest.
Clear to anyone who actually holds shares what your agendas are.
Well, company and shareprice clearly we're not where I & the handful of genuine holders that post on this board would like to be. Unless I missed it, not seen anything from our BoD other than the RNS update, which I initially found to be a bit strange. Would have thought they would have put their heads above the parapet given where we are and highlighted some positives from across the business. So, have our BoD:
Given up and are just prepared to let this drift to conclusion, trash their reputations and shut up shop.
Know that the current predicament is a short term blip, WN will ultimately be hugely successful, Victory is round the corner & other parts of the portfolio are ticking away nicely, so simply don't give a toss about the sp at present or the people whinging about their performance?
Agreed Selfish, the testing has been just that and will be used to inform development of the licence and optimal location of B-2 well. As long as the results support continued development, then not sure what has changed apart from we have learnt a lot more about how this needs to be developed (and one needs the patience of a saint).
From 25th May 2021 RNS.
"We are pleased to see continued progress being made at West Newton, with testing of the B-1z well key for the future development of the licence and, in particular, for indicating the optimal location for the drilling of the horizontal B-2 well. We look forward to keeping shareholders abreast of developments over the next few months, in what could be a transformational period for the Company."
"However transformational news relating to Victory will appear before then with the soon to be followed 'begging bowl' of placing and dilution. Not a guess, a formality. Just don't shoot the messenger. I would say and agree this is a guess, about a 10% dilution minimum."
That's great persi. Victory has massive value, £450M+ NPV pushes MC up to £300M, sp around 3pps, 10% more shares at 2.7pps to allow for a slight discount & we're fair set for excellent WN news on the back of it & no value attributed to Parta or Cali. Amazing. Not sure raising at such a premium compared to today's sp is 'getting out the begging bowl' though.
Glad we can finally agree about what a fantastic prospect this share is.
But at what event will add the most value be added to the sp?
The rejection of the 6 additional wells didn't have any reasonable grounds, so an appeal may take a year but the outcome is significantly weighted to the appeal being successful. This is known and priced in.
Getting positive results from WNA EWT will demonstrate that oil/gas can be recovered, that surely would be the point at which we would see the value increase substantially, the outcome of which is perhaps a couple of weeks away.
Then there is victory CPR due any time in the next couple of weeks which could provide an NPV to Reabold in excess of £450M
Bottom line is while the appeal may take time, there is plenty in the short term that could move this sp significantly up.
No GP, not driven away, just glad some of you guys that can talk technical were able to do so. I appreciated reading it and learnt something, so thanks for that.
Likewise cloves,
Problem with these idiots is that they drag you down to their level & beat you with experience.
Been many good posters hang up their boots in the face of the endless aggressive & passive aggressive attacks from the multi posters here.
Relatively soon we’ll know if our investment here was worth the punt.
Have a good one, cheers
Evening cloves.
These zealots really are a special kind of stupid. I’m surprised some are still able to post with one hand glued to their face. Those paid £10/post to try and wreck a share will do as many as possible
Amazing how many genuine holders they manage to exhaust and hope to have open (negative) season on this board.
Ultimately, there will be value or not irrespective of what is posted here, so I try and avoid being one of the two bald men fighting over a comb.
Unfortunately I can’t help but be dragged into exposing the horrible liars for what they are.
So artyth, I’ve offered you a measured comment and apology.
You show no grace or self awareness, so apology retracted.
Stay off the sauce, you obviously have a problem with the bottle & anger management.
Enjoy the back slapping with persi, RNST, noanbs, flat-tyre, etc., it may last. I and others may lose a chunk of cash, which seems to be something that would please you.
It may be that all comes good for genuine holders, which I sincerely hope to be the case.