Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Might as well risk a few bribes now for contracts! Nothing to lose!!!!
Maybe its because they really have nothing to report at all, no contract awards and no sniff of one. SFO have trashed a once perfectly good company. Not even a 100m fine trashes a company employing 10's of thousands. That 100m probably wasnt even worth it if this goes bust, will lose more in tax revenue!!
Good grief!
:(
Just a thought, wont the current market cap make a capital raise untenable? The amount they could raise would be quite limited?
Jesus
The only slight surprise with this one is that more of the big boys are holding larger short positions. If there was significant danger of right issue/share placement/bankruptcy, surely they would be piling in the shorts!!
If he starts in the role and then PFC is acquired by his former company on the cheap (after its been run down into the 50-70p range), this is very very suspicious!!!!
lol you beat me to it!
It is staggering the lack of news on contracts. The new CEO could have the shortest tenure in history , there won't be a company left to run if something isn't announced soon!!!
Sudden Spike to 225 and lost it all. Very odd
In 2022 they were end of March. The Petrofac website says TBC for this year, which is never a good sign. It always says to me they are having to work extra hard to "polish a turd"!
Absolutely agree JG68. If a major contract or two isn't forthcoming soon, Its hard to see how the profit/revenue from it would be realised in time to save Petrofacs perilous finances!!
Good chance now of rights issue or bankruptcy now I fear....
I'm out (with a massive loss). Maybe this will make the SP rocket now! :)
I hope the optimism here proves correct, but here we are Feb 2023, and still no major awards despite last June expectations of "awards evenly spread across H2 2022" (or something to that effect).
Ok the last trading update this was revised to $54 billion over the next 18 months (from december 2022) and $33billion due for 2023, but this is sounding a bit deja vu!
Getting nervous!
I know what you mean , back to 1.25 I reckon! 2 steps forward , 3 back!! grrrr
Consensus in October was EBIT of 65 million, now minus $100 million. Explains the SP performance! No positive cash flow or profit until 2024!?
Jesus.
Not to worry PFCvets, I only got 7K in there (or was lol), not going to impact me materially, just bloody annoying! I just never thought the SFO thing would have such a lasting impact on contract wins, after all many have been hit by fines from the SFO and for far larger sums than £70m, and those businesses carried on and recovered. SFO has just totally buried this one.
If it makes you feel any better , my average is £3.30! LOL :D
I'm riding it out. Just in case on the off chance there is some good news. Its going to be a long wait anyway! The real disaster is any sort of share dilution. That fitch report said they were ok, but I just cant explain 40%+ lost on an orderly CEO replacement
FFS 71p!!!! Tomorrow could be wild!!! Im not selling , but I've written this one off. If this recovers its a miracle!
Well clearly the market didnt agree with Spartas assessment. Grrr!