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of all the things to mention in RNS why $100k cash loss. I know a lot of my Argie connections fear Macri has lost the Oct elections. What he is doing is correct but a good portion of the populous are voting with their stomachs. CFK offers a remedy in mirage. At a mcap of £60m and holding near 30% this is a deal very achievable for PL especially if one or two II's joined him. Would make his life much easier. Malcy has done his nuts on this bucket list pick
Ouch!
Folly
Certainly a factor but hardly our strongest headwind
For me this was out of the left field so needs urgent reappraisal. In my opinion this is a significant announcement and one that certainly caught my eye. I have worked alongside Trafigura in the past and they are sharp, astute and serious. I see now that it is a prepayment for production rather than a loan (which would have been odd). There will be some marginal upside on interest reduction - a subject I and many others have raised before. I like this news a lot and am back in after selling out at 9p.
I wonder what commercial terms actually means. 12.5% + LIBOR vs what? One would suspect at least half that.
I continue to watch it from over in the Far East. I would prefer a bit lower. Would also prefer Rob Shepherd gone. God only knows where these guys have gone wrong since the PF/EV deal but that placing was the mother of all mistakes for investor confidence.
Spotted the big man on Curzon Street, Mayfair this evening. May be he’d been for a few looseners ahead of the AGM tomorrow which alas I can’t make as otherwise engaged. Getting close to my re entry level.
It is a long time since I posted on here. The placing really shook my confidence in the BoD. Decided to give them a chance to deliver something positive in this RNS. Whilst FY number looks great, for me there remains serious questions on the outlook. The power grid outage smacked to me of the Chinese pumps. We have political instability in the run up to the Oct elections in Arg with any President other than Macri likely to be bad news for PPC in my opinion. What now remains to propel these shares in the next few months? I can't see much. Not a fan of Rob Shepherd's at all and if he'd been my FD he would have gone over the placing. I am not discounting a buy back but it would have to be at sub 6p. Good luck to all who remain.
The Midas article has brought in lots of new buyers. We don't know who was the other side of the trades but some suggestions that the stock may have come from an overhanging seller of size. So far so good but what do you think these new retail buyers will do if the next RNS is a miss? They'll be out sharpish, hitting the RSPs over and over again which perhaps an large and stale seller could not. Has this article increased or decreased the risk profile? In the end as always it comes back to PPC hitting the markers it set out in the workover RNS and maintaining that momentum of production and profit growth in the FY numbers
Errrrr.....The £3.5m raise has wiped or contributed to an erosion in market cap of what £20m.
it was the complete switch in narrative that caught everyone sideways. All the talk was of free cash flow, throwing off cash. Look at all this free cash we are generating....oh can we have some free cash from you?? Knuckle down now and get on with business. Stop issuing all these self congratulatory RNS announcements.
Hypothetical ....... PL himself discussed it on record in a pre arranged media presentation in 2018 as an option. Still don't understand why he put it on the table as a topic. He made it an issue. Huge credit to PPC for their operational performance since PF/EV deal. The share price is in part way beyond the control of BOD but they are directly responsible for what can only be described as an utter disaster of a raise. Failed to appreciate investor sentiment. Rushed in like an ill trained Spaniel. Rob Shepherd should, in my opinion, do the decent thing. As FD he comes out of this shambles very badly
PL’s point 5 implies they are raising money. For what god knows. If they are Raising then looks like there will be an open offer as well.
He writes a good email.
anyone have a link or copy of the coverage
If PL was thinking about it 3 months ago as is on record then he must be thinking even harder about it now with the price lower and the business further on. In reality I think the company would benefit from being out of the spotlight directed by a market listing. Given the shareholder structure I think it could be funded without too much stress. Given the price and history I think it could be done at 12.5p.
Between PL and current institutional investors they own approaching 75% of the stock.......how many more do you want to come on board!?
It would be an obvious one of interest. Like you I have noticed this on the presentation maps.
You make some very good points here