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There is no debt except for Mintails and that's been ring-fenced to be paid from Mintails earnings. That was my understanding of the company's reasoning when funding Mintails, because Loots wanted to avoid the SP crashing to 7p like last time. IMO There may be objections to a detailed buyback. The shareholders have made it clear there should be no issuing of shares, but only 7% against buying back shares. That said I'm not sure the UK shareholders are significant enough to influence a decision. I favour dividends, been waiting 10 years for it to get to a proper amount. With a 2p divi for example, the share price would be driven much much higher (to the 30s at least) which would more than compensate for any kind of 20% WHT whilst keeping the divi down to one cent.

In the past the PAF SP has been notoriously slow to react to the market, even when the speculation is positive (as is currently with the POG) or negative (as in last year when we all felt load-shedding was a problem but the SP was only partially doing what would be expected), until results or a the company releases the news, when the SP react's sharply.

This could be the case now, with a sharp jump coming in Jan/Feb.

The next update is expected in a few weeks where we'll get a feel of revenue/income for July-Dec.

Average gold price I estimate as 1960 for Jul 1st to end of Dec (that's me visually checking the chart and this figure is easily up for discussion).

So Revenue estimate would be 1960 x 96,000 (from their recent RNS) = $188m. Very good !

Using Mulder's AISC estimate of 1325 that's just over $60m profit. Which is well on track to equal and surpass the 2022/2021 figures, and bearing in mind Mintails is on the way and back in 2022/2021 PAF still had a mountain of debt, then surely next year could be the time the dividend gets over a cent, how about two cents per share...

Add in an extra 10,000 ounces a year for mining on fully power from 2024 to 2025, how about they simply pay that to us as another cent per share dividend. Next AGM, maybe it's time to raise the question of whether PAF should pay dividends twice a year..

Cheers and Happy New Year !

@mcssupt Thanks for sharing that article. You can see power privatisation clearly happening just from what PAF are doing themselves solar-wise and that vast Turkish company power ship.

Hi hghotshot

That looks like possible reasons the previous CFO left. They could well represent the buyers from the last issue of acquisition shares.

Have you EVER. (auto text made my sentence appear rude rather than a normal question)

Good new documentary by the FT about Eskon.

https://www.ft.com/video/8f1da4b6-fa36-4000-a2c6-22f92f52e3a9

It's amazing how corruption bought it down over only a couple for decades, then again look at the current Tory government, 13 years in and the NHS, public services and large structure projects are almost now just bones for the vultures. . All those 10s of billions of public money wasted into PPE, fraud, track & trace etc. Michelle Mone epitomises the entitled nature of these vultures, as it's all now openly corrupt, fast lane embezzlement. It goes to show that corruption and greed is not exclusively right wing.

Can they sort it out ?

@Mulder. Have you even noticed this difference before ? Is it the constant outflows of money from the LSE since Brexit that's doing this, as has been widely noted amongst shares. ? Whenever I've check the difference over the years, it's always been a bit different but nothing too much, like a maximum of up to half a penny.

Thanks DiveCentre.

That letter doesn't mess about, and the SP has trashed because as holders we now just hope that their business model is solid and does what they say it does.

If it is what DEC says it is, then they will have a massive amount of work to do to answer these questions fully.

The fact that so much of this has been politicised and the committee is majority republican should actually save DEC, even if they only prove that their Smarter Asset management is on the way to being real and having success. Well so far it's been enough to gain an ESG report award. Surely a fair chunk of what's needed to answer the committe is in that report.

https://d1io3yog0oux5.cloudfront.net/_ebb569201ef3259a37e584f036fca4cc/dgoc/db/556/4674/file/Diversified_ESG_Report_2022_FINAL-PDF.pdf

If there is action, then what might it be ? An increase in well capping but who better to take control of the well capping than DEC themselves anyway, who've proved they can do it.

Initiative 2022 Progress 2023 Plans

Air compression for

pneumatic devices

Converted 57 facilities, exceeding annual

commitment to converting 30 well pads per year

over the next 5 years

Convert an additional 50 well pads

Aerial LiDAR Surveyed ~11,000 miles, approximately 60% of the

Appalachia midstream system

Complete remaining ~6,000 miles of

pipelines and assess remaining programme

Compression

conversion

Deferred to 2023 due to vendor’s delays Convert West Virginia compressor station

to electric and operationalise by year end

Fugitive emissions Surveyed 100% of Appalachia wells with consistent

90% no leak rate at conclusion of survey

Survey 100% of Cent

More funding... For What exactly ?

Let me guess, Stifano and his mates are going to holiday on a yacht in the South Pacific for a few months, pay themselves a few million, and they will keep saying there is gold, but really they will not produce a single bar. No mining plan, with is pathetic, as a 50k a year feasibility study was already done years ago. Rinse repeat, issue shares spend the cash. Not even a trading spike for us to get out, no promotion, no liquidity and a constant falling share price. Pathetic.

Hi Mulder. Interesting offer but it looks pretty low, as if Shanta's BOD have thrown in the towel. I guess an equivalent would be if PAF was offered 18p/19p, which Loots, and every shareholder I'm sure would reject.

Still, the point you make is great, since that large mining funding/off-take, bigger miners are certainly shopping for value and bargains in SA.

Finally a decent number of shares. Loads of those fear sells were gobbled up by DEC themselves. I held through but bought a large amount at 1430 yesterday on US opening. The statement was great, and IMO, the committee will not invoke any actions on the company.

Cheers and GL

@commandokai

stright to filter. you sound like a proper right wing conspi****** trump maga nutjob.

Do we know who lobbied the politicians ? Was it the land owners in McEvoy v. Diversified Energy Co. ....

A Methane enquiry. Sounds normal. The said committee is controlled by Republicans but members raised the issue, and I suppose the committee as a whole sanctioned the letter .. ? Not quite sure how or why would this ever be political anyway, or is this just the way it happens in the USA ?

The most curious if not hilarious mudslinging on here is the accusation of Democrats being corrupt by Republicans ?!?

W The Actual.. F. Trump obviously being the epitome of corruption. Weird. Where did all these posters come from anyways..

Ride this out, average down at the right moment, DRIP the divis.

There are many many many that have been worse than Biden. In the UK we're still putting up with the right-wing morons that followed Trumps lead and made so much mess, and look at us, pitiful, economically and politically and in every way. The USA really doesn't appreciate how good Biden has been steering the US from the absolute certain disaster that another Trump term would have been.

Blimey.. A Monkey with a pin would be superior to Trump. Not sure the world could take another term of him. The most inept, useless and dangerous idiot to ever gain power.

Wow.. Trump !! Lets all hope the US are not so stupid as to vote Trump back in. I'll happily put up with a few O/G investments down rather than watch the US ridiculously deny climate change, and there is the possibility that Trump will make good on his threats to pull out of NATO / The UN and thus allow his mate Putin to go big on his war in Europe.

I took the lack of movement yesterday afternoon to be a sign that the SP would hold up.

Silly me. A recurring mistake of my investing years to not go with the gut in such times when already at a loss.

Anyway. I'll wait and see what their announcement will be for the US opening.

@Trek you sold when ? That must have been a few few chunks.

Well now we know what that position Tt International Asset Management Ltd declared was all about.

US traders will not hesitate to go short on something like this. This is not coincidence that the letter was timed for Monday.

Rusty and company must put out a news statement to counter these claims and DEC must do what it can to get ahead of this dirty tricks campaign. Spend money on advertising in the financial press if necessary, lawyers, spin doctors instead of buybacks.

I fear this will not be the bottom SP-wise, but at least when it's resolved the short positions provide a springboard recovery.

Meanwhile, batten down and enjoy a good price for DRIPS incoming for the end of the month. .

"This message has been filtered, please adjust your filters to view"

Is it that Chapter 11 obsessed greygeorge making so much green appear ?

If so... I bet he's still not posted a single link or offered any kind of proof at all to back up arguments of DEC doom & gloom.

Oak Bloke does a good write up. Like I said earlier, this could be the opportunity for DEC to finally put this all to bed.

I'm not sure who/what is going on at Bloomberg to support this journalism then influencing the politicians, but they may well back track if corrected. I dare say it must be connected to that McEvoy v. Diversified Energy Co filed in 2022 and ongoing. Rusty should address this full on.

As the stock joins NYSE today.

“The executive team plans to undertake additional investor engagement to enhance understanding and awareness of why we believe that as the natural consolidator of existing mature assets under our stewardship-based strategy, we are the RIGHT COMPANY at the RIGHT TIME.”

https://www.proactiveinvestors.co.uk/companies/news/1036438/diversified-energy-company-chief-cheers-important-milestone-as-the-stock-joins-nyse-today-1036438.html

BUT ----> Bloomberg again. IMO This is the opportunity for DEC and Rusty to put this fire out for good.

(Bloomberg) — House Democrats opened an inquiry into Diversified Energy Co., the largest owner of US oil and gas wells, warning that the company’s unusual business model poses risks to taxpayers and the global climate.

On Monday, members of the House Energy and Commerce Committee led by New Jersey Democrat Frank Pallone sent a nine-page letter to Diversified Chief Executive Officer Rusty Hutson Jr. requesting documents and information about the company’s methane emissions and business practices.

https://www.bloomberg.com/news/articles/2023-12-18/gas-producer-diversified-energy-probed-by-house-democrats-over-methane-emissions?leadSource=uverify%20wall

For Non-subscibers :

https://financialpost.com/pmn/business-pmn/house-democrats-open-probe-into-gas-producer-diversified-energy

Diversified Energy Begins Trading on NYSE

https://www.stocktitan.net/news/DEC/diversified-energy-begins-trading-on-omvh4pw6fe0d.html

Additionally, John Tuttle, Vice Chair of the NYSE Group, said:

“We are thrilled to welcome Diversified Energy, a leading US domestic producer of natural gas, to our NYSE community. As the listing venue for many leading energy companies, Diversified Energy will feel right at home at the New York Stock Exchange.”

Directors Talk : https://1lo.co/rBEex

https://marketchameleon.com/Overview/DEC/

https://www.streetinsider.com/SEC+Filings/Form++6-K++++++++Diversified+Energy+Co+++++For%3A+Dec+18/22537594.html

A shame DEC is too small for Wall St Bets to get behind.

Going overweight before a trading spike would be great for all of our averages.