My best guess is that the lead market maker took the last line of cheap stock and with no bulk seller about is keen to shift stock at a good premium...hence 4p minimum soon.
Very much under the radar at the moment but having seen the end of the matched price action for months this should rerate to 20m mcap .pending news. Then either back to sub 2/ or 10/+
At the current brent price of 69 $ financing our 40% working interest share of Otakikpo should be straightforward really. Metallon have been highly oportunistic in gaining control here. If they play a straight bat this could possibly be the turnaround story of 2021.
Hi mark Admin costs running at $1m per month Lifting costs c.$20/ Company must surely be throwing off healthy free cash flow now? Spangel would have had the bod rns a material drop in production. Just need confirmation .
Somewhat surprised by the lack of pi interest here. Metallon have not added and seem to be acting in shareholders wider interest judging by the quick default rns. High risk , high reward i guess
Net revenue at current brent pricing should be in the region of $48m. Allow some production downtime and small discount to brent so say $45m. Current m.cap of £10m is simply bonkers?