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Not able to make it but would appreciate your feedback and if you get answers to all those questions you'll have done v well
IC called it bang on with their sell rating. I haven't seen the IC today. If you listened to the conf call PL calls the SP woefully undervalued (or words to that effect).
There hasn't been a wave of buys like this for weeks
NorthernMagic - if you haven't already you should listen to the recording of the conference call. All Q&A there is some helpful info on there. I found it on twitter. It is not yet on the PPC web site. Hope this twitter link works for you. https://twitter.com/PresidentPlc/status/1004388413464809473
oh and Director buys of that magnitude do more harm than good imo. If you're on the board of a public company and all you're only willing to ante up less than �8,000 it is hardly and vote of huge confidence
PL has conceded that he was wrong to say they will drill in 2018. Now pushed back to 2019. You should consider not why the SP isn't higher because of PF/EV but would there now have been a company without it. I was given confidence having listened to the conf call.
Robaich - completely agree StukeyBlue - no hidden agenda. I just say how I see it. Setting aside the two big marco events oil price (positive for now) Argentina economy (negative for now) and accepting the transformational acquisition of EV/PF, I see 3 things that will drive the price ahead from here. 1) Another game changing acq 2) Tangible and positive news in Paraguay 3) resolving PG issues. In this announcement I don't see a great deal of positives on those three points. I also note that FinnCap have revised down some of the financial estimates following the results. One question I often think about is just how grateful holders should be to PL and the team for doing the PF/EV deal. One has to wonder where the company would be without that. I retain a holding but exited the bulk at 12/11p. Will look for an attractive re entry point sub 9p or on the back of anything positive on the 3 points I list above. I wish the company well. A much stronger position than they were in this time last year but more work still to do.
I notice they are requesting patience on any further acquisition in outlook section. Doesn't sound like another PF/EV on the near horizon
Headline numbers are good are as already flagged and expected. Puesto Guardian on going issues don't seem to be able to crack it. Paraguay jam tomorrow. I can't see anything on the legal dispute
wrong place wrong time
37 to 30 is quite a defeat. Macri back on the ropes now re pricing bill. Sellers are picking this apart today. Wouldn't like to be selling outside size today.
Not surprised to see this fall today. It has been a long line of sellers since Tuesday morning. I'm upset to be on the sidelines now but will look to re enter if the dust settles in Argentina or on any seriously positive news.
is no one on here willing to accept that something has changed? If PL was re running the 2017 placing pitch do you still think he would be saying "right place right time". It was made a central plank of the investment case. I have done very well holding this stock having bought in last summer but I am brave enough to accept something has changed and from my not insignificant experience of Argentina I am nervous that these things generally get worse before they get better. Micro thing are stacked in their favour and clearly, even if lagged in Arg, oil prices support that but 'nothing to see here gov move along' approach is not one I freely accept
The only significant points are 2 and 4. I am frustrated by the events as lots of things were looking in place for PPC. Whatever you think about possible upside from the great deal they did in PF/EV, the potential in Paraguay, the repair of the Chinese pumps, another deal in Arg, unsettled legal dispute or uplift in Medanito, you have to recognise that this is now a different investment proposition to the one it was in Feb/Mar 18.
There are a few things that PPC holders need to happen for an uplift and maintenance of value and one of them is Macri and/or his politics remaining front and central for the forseeable.
Anecdotal evidence on the economic/political position from contacts in Argentina is not positive. One key point of PL's business case for PPC was a return to stability in Arg following the demise of Cristina. Takes some thinking to evaluate how it impacts PPC but macro position of its main market undeniably weakened.
Constant drip drip sells all week then two massive shapes sold on Friday. A lot of selling pressure
I don't disagree with you. Just strange not a mention of it here or on twitter. In fairness to IC they tipped it at 6 or 7p in April last year
A lot of talk about Angelos Damaskos but by way of balance the Investors Chronicle moved PPC to a SELL rating in last week's edition.
Neither Paraguay or PG seem front and centre at the moment. PG I see the logic of better returns to be had at PF but going quiet on Paraguay worries me. Barely mentioned in recent interviews, announcements or presentations.