The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Hard to do full calc here but based on combined MCF from Coho & Casca being 39,000,000 @ $2.63, Revenue $102,570,000, Cap ex £300,000 (estimated), royalty -$13,500,000, gross income = $89,070,000 . Priced on P/E of 4 and forward earnings gives (US)$1.72/£1.34. Royston potential income not priced in as we've had no announcement. Happy for someone smarter to do their calc and suggest higher, I'm invested so the higher the better but boggles the mind this still trades at 80p and not much higher.
I wonder if the Suriname deal could open doors for TXP elsewhere in the region?
https://www.reuters.com/business/energy/trinadad-tobago-proposes-carbbean-energy-alliance-with-guyana-suriname-2023-01-23/
I think next leg up will be when results are posted this Thursday. Market is pricing in disaster so anything better than that will move the SP North. The huge new contracts are the only thing priced into the current MC. Feels like a gem of a turnaround play this, although it make a while before momentum builds.
It's a framework, which means they'll be various roles over say a 5 year period, but the spend is up to £500M. TPX is one of the larger service suppliers in the framework so they will be a larger winner of the contracts available. Even if TPX only get 5% of the work available that's still £10 mil. My industry works much the same way.
So long as the dividend is retained this is a great LTH at this price. It could well dip below £1 as sentiment is against Comm Prop. I'll be buying at the way down as part of my LT (Income) portfolio.