Member Info for K3VMC

This deal will not be passed by shareholders, so why is it recommended?

Firstly, PIs are jumping ship and interested parties are accumulating after all, they can sit on the bid all day, every day, and only pay 0.6p above the paltry offer.

Secondly, when they improve the bid price, or the conditions required to get the bid up to 12.5p, PIs will be more willing to accept it.

Does your wheel-kicking second hand car buyer start with his final offer?

splatted.

“ Wow! The arrogance. Thats me done!”

Sounds like emotional decision making.

Good luck!

That’s standard practice.

Tbh, I’m biting their hand off for 9.5p.

LBE

Can everyone get tweeting about this?

https://twitter.com/k3vmc_invest/status/1636319684998881280?s=12

Looks like a total scam.

Prax has £50k in the bank.

Nothing else. No track record. Nothing.

Looks like a private company set up to take the assets, using the 3.1p released recently, then giving back a fraction of future revenue.

I’m going to get tweeting. Others may choose to do the same and retweet anything they agree with.

Buy at 8p, have 6.02p returned within weeks, so 2p gets you 6.48p.

Could be better, but 3x is acceptable. I wish all my stocks did 3x!!

I wouldn’t trust this bod an inch, BUT, I rely on Crystal Amber to look after their own interests.

“ In addition to the irrevocable undertakings from the Hurricane Directors, Prax has also received irrevocable undertakings from Crystal Amber Fund Limited ("Crystal Amber") and Kerogen Investments No.18 Limited”

Happy for a bidding war to start, obviously.

“ While this non-cash impairment drove a full-year loss, adjusted earnings of 4.3p/share reflect underlying profitability.”

27.4 mmscfe/d average production over 10 months, giving £79m revenues.

Targeting an additional 30-40 mmscfe/d from May, 2023.

Plenty of upside from here!

pawnsacrifice

I’m deeply hurt.

pawnsacrifice

“ The only "guesswork" was Adams "closer to 100 than 50" figure. It was spurious and based on nothing in particular.
Suggest you listen to the podcast yourself k3vmc then comment further.”

No it wasn’t spurious. He said he wasn’t going to give an exact figure, because he would be telling the market at what price he was selling coal.

pawnsacrifice

“ Would the 5% royalty on sales revenue be in aisc or should we consider that separately?”

Adam stated $50-100/ton profit. Closer to $100 than $50.

That’s profit. Not profit excluding royalties.

ART123

“ Yes, and if the price of Met coal reverts back to the price in Q3 2022 ($249/ton) then the margin will be reduced by $41 to not a lot!”

I think your own logic should tell you not to invest here.

pawnsacrifice

“ Heard Adam say that too but with met at $290 and taking off the $30 for BEN selling short tonnes and a further $30 for broker fees then with $115-$125 AISC and $50-$60 train costs that's not even close to the maths?
I have $65 margin using the $115 and $50 figures and $45 margin using $125 and $60?”

So, should we be using your guesswork figures, or the known figures from Adam?

Just curious.

Penstock

“ Everything is in US$ not £. Bens are not making £80 profit per ton. Once the 2nd HWM is producing in double shift then costs per ton should decrease but not sure that will even bring profits up to $80/ton let alone £80.”

I believe Adam said profit should be $50-100 per ton, but nearer $100 than $50.

Shaa

“ Before Xmas on 20p there were talks of multiple pounds, now we are talking pennies.”

I plead not guilty to either count.

You either believe there is a billion barrels of oil there, or you don’t. You either think we can pay our way as far as a RBL, or you don’t.

COPL has decades of growth and profits ahead. PIs should start to think and act like IIs, as in, stop fretting over ever hundredth of a penny price change.

Tygra

TMW

HerbertDTurbot

“ Europa = currently low risk but has been a bit volatile with Serenity mess. Wressle still doing well but BOD seem a bit fractured again from Serenity. Still waiting for potentially fantastic news from Inishkea but that could take a while and could be another duster or could be boom company maker. I did buy a chunk recently, so maybe hang fire a bit.”

EOG won’t be drilling Inishkea. If they get a JV partner for it, the sp will bag. Maybe several times. You can be out with serious profits, months before spud.

Other than that, all you have to look forward to is 2x production for all the Wressle firms.

:-))

Knocks £1m off the mcap.

Nuts.