The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Https://simplywall.st/stocks/gb/energy/lse-dec/diversified-energy-shares/news/diversified-energy-company-plcs-londec-recent-93-pullback-ad
I guess we should expect nothing less than bad sentiment before the US listing.
I assume then the broker reports expecting $30 $40... Matter of patience here, ( or bare knuckle trading ).
On IG, it's showing down by 1p which is overdone, but sellers yesterday will be already buying . We may get lucky, the POG is sustaining at 2045 so far but the short term "dollar basket" is not convincing either way.
Looking at the 4 hour chart, and adding a channel indicator, the SP could retrace to low 16's which will be fine for DRIP investments mid December, and signal buying IMO.
@Mulder I hope you're right. TBH Even if it's 215k in 2024 then 240k in 2025, the dividend should still be going above 2p and so the SP will adjust accordingly to the late / mid 20s at least.
Their new shift timings allowing more "Rock face" work have definitely worked with guidance going from 175k to 190k (which was brilliant by Loots). What's not so good is the stage 5 and stage 6 reappearing in the Barberton load shedding notices.
https://mydorpie.com/m/?page=loadshedding&suburb=Barberton®ion=Umjindi&province=Mpumalanga
Would have been "Transaction in own shares" of well over a million.
Well,in that recent youtube interview Rusty made it clear he doesn't care what the share price does.
Any explanation at all.. Anyone ?
Even the share bashers are quiet.
The only consolation here, well I'm not sure there is one.
Hold..
Without meaning to take the wind out of those optimistic sails, Mintails will currently take production to 240k, and no chance the SP will get to the high 20's until PAF is either fully powered by renewables or Eksom sort out their mess.
Great results, not. $3m spent, on what apart from wages and shares, maybe some basic drilling. Well done Stifano, bet you fell good about fleecing shareholders so you and your Sprott buddies can enrich yourselves and produce nothing of value since you arrived. What progress exactly has been done since Roland handed you the keys of a producing mine and a 50k per year feasibility production plan ? You bought some fields in Scotland, and spent $13m on go only knows what, gaining nothing of value.
What a great day for PAF ! Still one more day until ex-div too.
I took my IG profit at 17.6, which is fine as it increased my balance by 20% and was my largest profiting trade, but so typical of a spread bet to take too early, should have put a rising stop instead, but no worries, my IG a/c is small fry compared to my ISA/SIPP/Trading accounts which all have PAF shares.
Haven't sold a single one, and wouldn't consider it whilst the POG is going nuts and we're about to enjoy our Christmas dividend. PAF will be able to buy new fields of Solar panels and some windmills which will help to power the mining and get back above 200k oz, the guidance before Eksom started load shedding.
At current gold prices an additional 10k oz would mean an extra $20m and extra cent on the dividend, and a welcome return to a mid 20s SP.
"If up to date M&G Investment Management Ltd. 3.563 %, Increased to 4.9%"
Well lets hope they were happy getting them so cheap and a normal market can resume now...
Resuming in the fashion of a loaded spring tomorrow would suit most of us IMO.
Trading statement was great, steady ship, another dividend announce. Market reaction = "Whatever. Sell."
Over 3p in dividend to be had this Thursday. Market reaction this week = "Whatever. Sell."
Facetious class action lawsuit ongoing. Market reaction = "Did you say lawsuit. Sell."
Yield is amazing 20%. Market reaction = "Must be too good to be true. Sell."
Double Bottom on the chart. Market reaction = "Charts are nonsense. Sell."
Triple Bottom on the chart. Market reaction = "Charts are nonsense. Sell."
Quadruple Bottom could be on the way. Market reaction = "That's a dead cat. Sell."
Gas price goes UP but no matter, DEC sales are hedged. Market reaction = "Whatever. Sell."
Gas price goes DOWN but no matter, DEC sales are hedged. Market reaction = "Whatever. Sell."
Some mentioned the word Frack.. Market Reaction "Definitely sell"
US UK Dual listing, American investors will love the high yield. Market reaction = "Whatever. Sell."
diversified energy company continue to get enhanced results from wells (lon:dec)
https://1lo.co/4mdey
or
https://www.***************************/diversified-energy-company-continue-to-get-enhanced-results-from-wells-londec/4121134364
...
q4: how has the integration of your tanos acquisition been progressing? you highlighted some incremental expense improvements in your q3 trading update.
a4: so, that tanos transaction, to 2021, we had acquired another asset, another tanos asset at that time, so those were very close in proximity to each other, which allowed us to garner a lot of synergies between the two asset bases.
the other thing about the tanos, it’s been very, very easily embedded into our existing operation but we also have four drilled, uncompleted wells that came along with that transaction that we’re planning on completing and fracking later in december, and then being able to produce that gas into a higher gas environment next year.
so all of those things are playing into the positives of what we saw with tanos.
we still have a lot of undeveloped acreage there that we can look at from the cotton valley perspective, and a lot of projects that we feel like are in production-enhancing that we’ll look at laying into next year also.
Well done LWHL. Profit is profit. I have a trade going on IG on top of my shares, but I'm aiming at Wednesday to sell that due to the ex-dividend gap down on Thursday, which during the days after the gap might be the drop to the 15s you're looking for if gold eases.
The plan with my shares is to hold and DRIP until 2026 for Mintails to start production. I may take some profit if there is a really obvious spike up to the mid 20s for example. I've had shares for about 12 years now and I don't want to miss out on the big sentiment drivers, 2000$ gold prices, Mintails, SA takeovers and news of Eksom solving their problems.
Breakout above 17p.. At last..
Would be great for us PAF holders to see a return to that 18 to 21p trading range, perhaps after a bumpy ride to next trading statement in late Jan.
Especially when load shedding is still ongoing (but less) which was the reason for the lower guidance and bashed the SP to the low teens earlier this year. Eksom solving its problems would be a massive boost here.
Hi Mulder. Maybe not that significant.
I did however receive a great email back from them about my question. The Solar panels provide power during the day, no battery/storage options yet as too expensive but looking into Wind to provide power at night as well as the back up generators. Their mining operations adjust accordingly to the load shedding schedule.
Rise to ex-div next week. Can the SP finally break into the 17s again...
Look at the votes against the BOD to basically advise them from enriching themselves. If only so many other UK companies were like this. Good to see shareholders keeping them inline.
Thanks for the help everyone re with holding tax and SIPPs. I'm certainly going message then call my SIPP broker EQi. It amounts to significant amounts.
Well done pickedpeck for going through the files. I started this morning and soon realised I need to do this at the weekend with no distractions as it could be a few hours. The allegation that they will not be able to afford to cap the wells seems very odd when they clearly can and are doing so. on first glance it looks ignorable but I will def read through it as well.
Well it takes all sorts.. I'll be rounding up all my holdings to be divisible by 20 in the coming days.
Also..
@TheTrotsky Why kind of SIPP do you have that is free from th US dividend tax ? I pay the 15% on DEC dividends in my SIPP.
@Everyone ... The Lawsuit ?
Good solid update. PAF are keeping production to the new lower annual estimates of 185k oz plus, even up to 190k.
Come on Eksom, sort your problems and production can get back above 200k !
No specific mention of the AISC for Barberton which I take as going lower but not out of the woods yet.
The most important questions for the AGM for me would be to ask if all the Eksom power problems could be countered by more solar panel fields and is the power from these fields stored so that it can be used during the power cuts ?
Https://climatecasechart.com/case/mcevoy-v-diversified-energy-co/
Is this a worry ?
The latest filing date was the 16th, and despite the business going "well" (excuse the pun), and despite the rise we all expected going into ex-dividend, all and any business fears being cast away and good recommendations, the SP has since disconnected a bit from it's parallel recovery with treasury bonds and again we sit around 70p.
Is this class-action lawsuit weighing on the SP ? Is the market just dismissing it ?
How are the other companies in the lawsuit getting along. ? No affect on NYSE: EQ, Alliance Petroleum Corporation isn't publicly listed.
An Erin Brockovich type resulting fine would be scary and vast as we all know how corporate fines can go.
McEvoy v. Diversified Energy Co. Filing Date: 2022
Case Categories: Common Law Claims
Principal Laws: State Law—Nuisance, State Law—Negligence, State Law—Trespass, West Virginia Fraudulent Transfer Laws
Description: Class action lawsuit brought by West Virginia landowners against companies who allegedly failed to promptly plug abandoned gas wells.
The more ZAR to the US$ the better for PAF, whose costs are in Rand and sales in Dollars.
Doesn't seem to be much reason for this mark down, unless they are keeping something from us, again.
Not much happening on the SA stock exchange, SA general there's the Netanyahu’s arrest news, and of course the wild speculation of an attack on the SP by a hedge fund to prepare for an offer..
Otherwise low 15's or lower is a buying opportunity.