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I have typed these numbers into the search box of WhatsApp, but no success
The failure to produce accounts is highly suspicious.
A recentRNS emphasised a focus on building up the cash balance. In the weeks since this announcement the cash balance has been reduced by £7 million. We
need accounts to see where the money has been
spent. This whole situation requires forensic
examination.
Janes,
I assume you mean numbers of shares and not numbers of shareholders.?
What level of shareholding is required to make a ‘block’ on Administration feasible.? How are these shares and shareholders cumulated into a formal petition? Is there a timeframe that must be met. Many more questions, but let’s start with this.
UK Natural Gas : Plus 7% today
Mole, the reasons they have not paid the two interest payments was to avoid Covenant defaults on liquidity cover and interest cover. This seems to be the only logical reason. Agree??
IG not accepting buy orders. Is this also happening elsewhere??
Does Cal Energy have a 50% equity stake in Bacton and the Pipe?
The company has an ASSET, that is rarely discussed here, and certainly not by the inane de-rampers. In the recent corporate update, Investment Banker, Rupert Newall, decided to include and stress, that the company had ring fenced tax losses £239 million.
Why do this??? He recognises its tangible value to a potential profit-making ‘Partner’. At today’s new UK corporate tax rate of 25%, this ‘asset’ is worth £60 million. Do not be surprised if this asset comes into ‘play’
SQZ, I have written to company asking for details on their approach to hedging. Locking in future prices for a portion of their output is essential, in my view. Hope to receive an early reply.
Natural Gas plus 10% today, IOG minus 18% ! Accelerated selling in the afternoon was likely massive liquidation of margined accounts. Fundamentals seem to have improved ? Confusing??
The name suits. You are a total sham! Your accounting knowledge (P&L, Balance Sheet etc) is abysmal and your knowledge of market dynamics is worse. If/when the SP recovers you will disappear and my theories vindicated…….. a double win!
Should the company not consider selling some of its output in the futures market? Today they could achieve 107 for November delivery and (for example) 126 for February delivery. Locking in these prices gives certainty to a portion of future revenue. Would appreciate comment from the serious posters on this board. Thanks.
Broomfielder
It is rare, in my experience, to see a six month report, that highlights the significant accumulated losses from previous years. As I see it, the BOD is putting up a FOR SALE sign and signifying that they have serious assets.
The ring fenced tax losses, alone, have a value, that greatly exceeds the current market market cap.
The detailed RNS, is a classic presentation, that is prepared for evaluation by a potential partner/buyer.
For better or worse, the company is now ‘In Play’
Today’s drop, on decent volume, arises from margin selling. Classic. Holders unable to meet margin calls are being liquidated. For those with funds , this represents a very attractive entry point.
The RNS of June 7th 2023 refers to the senior secured bond of €100 million.
The prospectus issued by the company refers to the €130 million bond. This needs clarification as it remains a key cost and milestone for the company.
Thanks Calder 5
Incomplete
Some refer to £80m. How come? This is confusing. Clarification welcome.
Some posters refer to
All these RNS’ with additional information on multiple issues are creating more questions and worries. There is now much nervousness on this board and growing concerns. Hopefully unwarranted. Reduce the RNS’ and allow some calm.