Member Info for Investor81

In the GLEN rns today next to South Africa it said 'All mining and smelting operations were suspended for the duration of the lockdown, a staggered start-up is currently in progress'

So BMN will be in same boat ie started operations again?

The loan will be converted automatically into ordinary shares of the Company at a price of approximately 5.0 pence.

Risk v reward is high here! The Company sound confident!

HKEX is a leading financial market operator in the world and should allow the company to grow and add shareholder value.

Sit and wait!!

Correct- why was the release of the delay released so late?

Liam looks like the reference to covid19 might have triggered the rise. As you eluded the reference appears to be talking generally about lifescience companies and not PYC.

It explains why WTI fell the way it did today.

https://www.forbes.com/sites/simonconstable/2020/04/20/the-real-reason-oil-futures-plunged-on-monday-isnt-what-you-think/

https://www.forbes.com/sites/simonconstable/2020/04/20/the-real-reason-oil-futures-plunged-on-monday-isnt-what-you-think/

Could be good news. Maybe get someone more proactive now!

Just found this.

'In addition to annual returns, every company is required to submit provisional tax returns. The first of these returns is required to be submitted six months from the start of the year, and the second at year end, and must contain an estimate of the total taxable income earned or to be earned for that period. Payment of the tax must accompany the return. A third “top-up” payment may be made six months after year-end.'

So based on this the tax liability (subject to any finalisation) will have been paid pre year end and pre half year end (interim accounts).

https://www.sars.gov.za/TaxTypes/CIT/Pages/default.aspx

And looks like they were owed income taxes at both December 2018 and June 2019. Maybe in South Africa payments are due in advance?

Sorry meant pre December 2018.

The june 2019 interim also suggests that tax for 6 months already paid and income tax is due back to the company of $2.5m.

Taxation charge for 2018 was $37m. If you look at note 10 this is broken down as follows:

Current tax 32m
US tax 5m

Then look at the cash flow statement on page 78 which shows income tax paid of $31m. I cannot see any liability so this would suggest that the tax or majority of it was already paid pre June 2018.
The liability is shown in

Any excuse to mark the price down. Bonkers. We have already fallen in anticipation of this and now will be marked down further because that's what happens. When there is good news they never mark it up as quickly. Joke!

Yesterdays drop was ridiculous. Dropped like the oil companies so why are the mms not marking this up the same way as the oil companies today? Unfair market when it comes to BMN!

Lol Duster.

Hedging covers capex spend liquidity.

During short term price depression strong cash will support RRE.

Along with debt available will allow RRE to advantage of acquisition opportunities.

All above leads to a stronger RRE coming out once all this passes.

Duster capex isnt free and we know there is lots of it this year so not unexpected. This will lead to cash flow in future. Company has also hedged to ensure capex spend covered. Cash is king comes to mind, RRE is strongly positioned to take advantage of short term market mechanics.

'This commitment to capex is anticipated to lead to higher production in the next few years as the Company takes advantage of development and infill drilling opportunities within its existing portfolio.'

Capex was expected. Cash balance is strong. Comparing cash balance between two dates on a like for like basis is difficult without knowing what debtor and creditor positions are. Eg at point x we may have more debtors than point y as some amounts still outstanding for products sold.

Sorry wms. No idea. Will find out in next update or full year results in April.

Will we see diesel and petrol prices fall? Lol