The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Legache
50p and 100m mkt cap? Even im not that optimistic.
Aleph will convert the convertible loan of $3.25m. That is 25% of the company. So company has been diluted by 25%.
They can trigger a buyout anyone who says they cant need head examined. Dont forget the generous interest rates aleph are getting for convertible loan close to 20%.
Aleph rejected the deal and beneffitted more and got more control of the company.
Littlened
Production is declining, resource is declinig and no meaningful investment being made for more production. In 6 months from jan 23 to end june 23 the cash balance declined by $3m.
5 months to dispose the asset is ridiculous, why taking so long. They need to tell it why its taking so long, the company was a large international producer. It must be loose change for them.
The thing is its been 5 months and the company is running the asset down. If the buyer pulls out sdx are doomed.
WG disposal price is $6.9m, sdx spent alot drilling every year.
The longer they take on SD the more run down it becomes.
Nice...
West Gharib price $6.9m
South Disouq still being negotiated.
New Upfront Offtake agreement for $2.1m
Sdx is looking undervalued now. South Disouq along with recievables and dollars in egypt will get alot more than west gharib..
Problem is the mkt has had a sniff that company needs funding hence sp destruction.
Imho document will have already been created and if the large operator wasnt going to buy we would have been told by now.
Egypt has his issues, dollar issue, on the israeli border and they had elections in dec.
I believe it will happen in jan.
Tax loss selling season is officially over from across the atlantic so i doubt the large holders will be selling to cover their losses.
Onwards and upwards now.