The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
"Whats JV got to do with its core business. Do you guys even know what this company does and what’s it doing right now…??"
We have no idea what the company does as they don't tell us anything. I would guess they are trying to come up with a 'strategy' right now although I would have thought they would have one already if they weren't incompetent. The JV had a lot to do with core business in that we have no cash, loads of debt and bonds and raising any more cash is near impossible at the current share price. It would result in massive dilution, even bigger than the massive dilution we already have. So yes it is kind of important
" So Anavio are the BH's! This company are the pits sooner we get rid of them the better. Ive had dealings with this company before, they short stock and then go long replay and start again"
Of course they do. What would you do if you held all the aces like they do and can make a fortune from the share price going down or up. The time when they were dumping 100's of millions of shares in a short space of time or more recently when they sold down to get a 2.6p conversion price tells us all we need to know about them. Criminal! Bonds are the way to go, shares are for mugs. You can buy bonds with a 16p conversion price and if the share crashes you can just change that to 2.6p no worries. Bet the people that bought shares at 16p wish they could do that
@FastFood Strangely I find myself agreeing with you for a change. Namely your comment on Blackstout and the 5bn barrels OIP. Yes he is as crazy as a bag of frogs with his valuation but even a more sane estimate for OIP and recovery gives a valuation well north of here.
Well Fastfood Anavio will know a lot more about the GGs and forward production plans and possibly the JV negotiations so if they are willing to take greater ownership at this point what does that tell you.
Unfortunately we appear to be be in the business of generating more and more shares at the moment. Still maybe our new deaf mute CEO will give us some production insights soon then the price of oil may be more relevant
Trans, I don't think the number of shares will even be a point of discussion. The asset will be valued by OIP, projected recovery rates etc. At 50p per barrel OIP that would be 500mill. At 10% recovery it would be about 400mill. Take away the debt and it gives a good rough valuation. Work out the share price and decide if it is a good idea to buy at 3p
"Acquiring CUDA WI much earlier than anticipated (not easy given the companies status at that time)
Box ticked. (That is what nearly killed us)"
What was the real cost of this to shareholders though. Was the dilution to date and to come worth it?
@Stas20 If they payed $500 mill in 2018 I am sure they spent some money on it and we are talking an investment fund here so would be looking a high return on investment like this at the riskier end of the spectrum. Can't see them valuing this 112000 acres alone at less than $750 mill. Were there any reserves or verified OIP figures attached to this in 2018?
Oh and is the Northwoods CEO now at a loose end. We could use a competent CEO here
"That’s right Shaa but the other difference is you’ve been here for years, I recall even pre consolidation, whilst others were over making 500-1000% on ITS last week"
Maybe you can tell us where we can make 500% this week Captain Hindsight. Telling us about last week is useless
"PS: While I'm fortunate to be - currently at least - nicely back in profit here, all is far from forgiven Del Millholland and Rodney Gaffney."
Yeah, Rodney Gaffney what a complete waste of space. Would have done better with Dean Gaffney of 'Rickeeeey' fame
Bondholders have also done very well given that they were still making a good profit selling at 1.5p, not to mention the shorting opportunity on top. The BOD have done very well too given their massive pay for total failure.
"Come on Art do something about this $h1t show."
He did do something about it - caused it. You should have voted him out when you had the chance. That mess of an RNS a few months ago, terrible bond financing, a sp 90% down in 6 months, RBL so positive about not mentioned again, JV in January again not done in June. So many reasons he should be sacked. We even had someone on here with 20 million shares proud that he voted for all resolutions. Where is the half wit now?