The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Opening share price up 5% at around 36p
Hi Slift,
In your P&L calculation you’re deducting CAPEX of $300m. This wouldn’t normally be expensed as it would be added to the balance sheet then depreciated over time. Therefore if you add back in the $300m the figures look a lot better.
Hi Welsh,
The conclusion to your workings is good, but you might want to re-check the maths. You’re a factor of 100 out and should be showing the answer in $ rather than £.
This will make the numbers even better.
GLA
Given that the auditors have never been able to sign off the accounts of the EU, it’s a bit much for them to be critical of others.
A very nice 18 bagger! Hopefully the first of two.
Well done - all profit is good!
Molokai - I just spilled my tea reading that! Very funny - I’m sure that the smile on my face will now last all day.
Irrespective of any fine to be charged for failing to report this short, the FCA should also investigate whether ARCM has attempted to manipulate the market by announcing that it won't be renewing its loans when they mature in 2021. The implication here, in my opinion, is that PMO will be riskier by 2021 than it was in 2017 when the loans were drawn down. Given that significant improvements in PMO's fortunes have already been made and, without a crystal ball, further progress is not yet known, ARCM's announcement only serves one purpose, in my opinion, which is to undermine confidence in the company and its share price.
ARCM's conduct is highly unusual to say the least and hopefully the FCA will investigate fully. Apart from a suitable fine, it would be nice to see ARCM forced to close their short.
Is there a Houthi crowd funding site for a follow up attack on the oil installations?
It was reported in the FT this morning that the World Bank is putting pressure on governments to support initiatives that could lead to productivity gains in agricultural food production. Hopefully this will help our government to reconsider their decision regarding Sirius financing.
Iran seizes vessel 'smuggling diesel fuel' to UAE
Iran has seized a vessel in the Gulf for allegedly smuggling diesel fuel to the United Arab Emirates, an Iranian news agency has reported.
Read in Sky News: https://apple.news/AeclmI2TRRWSwnjqotJ2Opg
Apparently there’s a new and potentially deadly strain of Streptococcal doing the rounds in Essex. Its full name is Group A Streptococcal and it generally becomes fatal when it begins to invade parts of the body that previous strains haven’t been able to.
It’s therefore been labelled as an ‘invasive’ version of Group A Strep and has been given the unfortunate acronym of iGAS!
Given that it’s transmitted by touching and kissing - could this news be an omen or more appropriately the ‘kiss of death’ for this struggling business that’s already in need of life support?
New depression developing in western end of Gulf. Will be interesting to see if this becomes anything more than just an area of low pressure.
Tropical storm Dorian has now decided to be a hurricane and is steadily moving towards the east coast of Florida. Whether this will affect oil installations is yet to be decided but might help the oil price increase further.
Tropical storm Dorian making its way westward towards Caribbean over next few days. Expected to strengthen to hurricane strength. One to watch for a stronger oil price.
Very funny SK - made my day :)