Member Info for MaverickD

Hope everyone bought a little more interims next week

Nothing to do with Share purchases for staff - you don’t get multiple transactions like 700k 400k and 250k buys. These were all instructional buys - doubt many Pi’s have pockets that deep. Accumulation, exactly what is happening now before the next leg higher in my humble opinion.

We will see because ther are bigger transactions being filled right now…….6.7% still showing on the board and I fully expect a sharp move up in the SP.

Nope just a shake to fill those orders - it was a buying opportunity - multiple buy orders filled and should head back up. 22/22.5p key to break

Looks as though we are sitting around to fill an order here……..patience is key

Bonds are edging higher too…..@PC did you manage to add to your bond purchase?

Should now see an attempt to break through 22-22.5p and then a break towards 25p.

I’m not so sure that RNS is worded the best. Friday RNS’ I dread tbh.

Can anyone see anything on the short tracker? I have looked and I can’t see anything recorded from funds holding above the notifiable level of 0.50%. It could have been Tages Capital as their holding fell below the notifiable level on 18th September when it was previously at 0.69% and their reduction took it to 0.48%. Or it could have been Whitebox advisors who have been reducing and were down to 0.44% on 23rd August.

The total short position is currently showing as 6.7%, so I am pretty sure that my theory above is correct as the notifiable funds (those holding positions above 0.50%) equate to 6.65%. It does appear that Ataris will close their 1.06% and that price action could trigger the others to follow suit. Expecting some large buys today.

@YB take a look at the Short Tracker tomorrow morning - should see who the buyer was yesterday.

Well I almost called it perfect got the shake and at the end the mms managed to get us back up and into the blue - waiting for the UT to confirm. Look at the short tracker tomorrow and see which fund has been buying. Gap up in the morning I would imagine once confirmed.

More of a sneeze as opposed to shake……Now for the finish - blue please

Well we may drop to 20.5/6 get another tree shake, but the trend should be higher

We are now back above where we close last night 80 mins left and what say we record another high of the day finish - no large trades yet - must be coming later

@Oily you mentioned gaps not me but think we filled the gap from 4pm yesterday to the closing price of 21p. I wanted to add at 20.4p but missed out. That would have been for my trade bag - ahhh well

Well it appears that MMs are accumulating stock right now, SP held whilst orders get filled.

With respect to news I’m sure we will hear sooner or later…….but would imagine there are definitely some receivables to declare and certainly an update on non core asset sales. All building that war chest to pay bond holders and then wait for the bonds to re-rate. I’d imagine at the reported bond values it would make a smart purchase right now

@YB No need to cross they want stock and as soon a holders recognise this and take AT sell orders off then the SP will naturally drive up with demand

@YB I totally agree with what you say and mentioned this yesterday. Askari’s were slowly exiting yet yesterday we saw a different approach with millions being bought up - my thinking like you is that it is another fund - Helikon or Millenium. Something has them spooked? We dropped from 75p when the short brigade really got their teeth into this, so at 21p we look at this perhaps having a fair bit to climb. News is key and the only thing we know is that the bond holders have been patient to roll over the debt and not call in the non payment of the interest coupon. As time ticks along, in my view, money will come in and ease the cash crunch PFC faced a few months ago. For this reason I am a happy holder.

@PC Agree to disagree then fair? I don’t think you can compare an oil producer who was getting oil out from the ground but not being paid to a company that provides services that given time will receive funds for works completed. The same said company that has won multi billion dollar contracts from companies that will be acutely aware of its financial position before awarding contracts - forms part of the due diligence. Remember part of this problem has been the need to stump up cash as performance/ contract guarantees. Indeed we have recent been told that a client waived this demand after they came up with a work around.

Your point about the bonds is correct, however the point about debt isn’t. Look at BT.A as an example debt is £23 billion market cap is £14/15billion. Debt is not a bad thing. Paying the coupon on the debt is, however if you can secure funds to pay then the wheel carries on spinning. The longer this goes on the more likely this appears to me.

700k buy worked through - must be ever closer to that RNS