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so what - they have no axe to grind with Schroders. In fact their selling has helped to give Trafi a lower entry price. Clearly if Schroders were no longer selling then that would be a benefit.
Agreed but if i was them and on the assumption they had stopped large scale stake building then the return on an extra £1m - £2m in the market would make a large impact. I don't ever recal PL buying in the market during 2017 18. Cant remember that at all
The shares are tightly held with a large proportion in the hands of trafi, PL and a few others. Free float is relatively small albeit we suspect there may be an overhang in the open market. Come 23 June Trafi will hold up to what 20% of the stock. If I was the investment manager at Trafi able to leverage their balance sheet it would strike me as an easy way to generate a significant ROI by dipping into the open market to mop up the overhang. What would £1m buys in the open Do to the share price? Probably take it back beyond 2 or 3p. Strikes me as the best way for them to now amplify their value position.
I am really pleased with the Paraguay news although it's an odd release and a bit of "here's what we could have won". Any speculation on who the foreign National Oil Company might be? Anything on that front moves the game on considerably. Still don't think it is the major attraction for Trafigura
I share your frustration at those rates of interest.
He would also lose a substantial personal fortune were he to sell anywhere close to these levels. That won't appeal to him
Also on the call he was very clear on not taking the company private. Whilst acknowledging he flirted with the idea previously he didn't give an indication that this was on anyone's radar.
Listened to the conf call on today. One of the last few questions was on plans for Paraguay. I detected a downgrading of importance to their plans. PL said words to the effect of it's still there and we still recognise it as an asset . Hardly a rallying cry for imminent action . Although Trafigura could fund the entire Paraguay drill out of its stationary budget, I would imagine that they are more interested in the Argentina operations than they are on a new dalliance with Paraguay. Just a thought but I suspect the Trafi deal kicks Paraguay further into the long grass.
not a massively high bar
To be clear I am no longer a holder but re looking to be back in. To all of you jumping up and down about certain posters trading the share i would just say ......aren't we all doing that in our own ways
At mcap of about £40m whilst holding 29% equity and remaining debt finance I'd be amazed if PL hadn't been advised by more than one party to call time on the listing and take private. Other than access to placings, under what circumstances would this not make sense to him. An alliance with Trafi would make it easier than before. Removes the scrutiny and increasingly hostile market reception. Heads down for a couple of years, tidy up Arg, progress in Para and then come back to market. The pitch almost writes itself. To use his own, now infamous, words "right time, right place" or to use Malcy's words instead "what's not to like".
echo your points re PL. Fair to say he hasn't replicated past glories here.
PANMURE CUTS PRESIDENT ENERGY TO 'SELL' ('HOLD') - TARGET 3 PENCE
Does any one have a copy or link of the Panmure sell note issued yesterday?
Join our group on twitter for more info. Roll on the AGM.
Having discussed with other investors, I no longer have confidence in Mr Levine and Mr Shepherd to deliver the results shareholders expect. They have failed shareholders, they have seen shareholder value erode at worrying levels. Their plans have not yielded any tangible results for any shareholders. I support the investor demands for them to consider their positions.
IMO I've been less than impressed with Rob Shepherd. Albeit his performance is marginally better than his investing having bought 1m shares at an average around 9p. All I see from Mr Shepherd are his arch remoaner and anti UK gov tweets. Clearly this is his own opinion and not the company's but......
"whilst ever we are a public company"....... interesting statement. Could have said 'as a public company we remain committed to keeping the market informed' There is a difference. Best chance he'll ever get of bidding 8p and getting it
For what it is worth (and it is worth something) yesterday's provincial elections in Mendoza went for Macri
Two very big days ahead for PPC. Today you have major elections in Argentina (not Presidential) the results of which will give a good steer on political mood. Tomorrow you have the Interims and full operational update. You can see a multitude of outcomes from both these things and the price in tomorrow's trading could easily be 40% higher or 40% lower than Friday's close depending