Member Info for mjharris

Its coming up to six weeks since the incident occurred with the Noble Hans Deul Driller. Surely there must be some update regarding the state of repairs and the ETA as to when mobilisation back to the field will re-occur. There is an obvious detrimental effect regarding the ongoing proposed schedule. Would like IOG to make some sort of statement to update investors.

I would be concerned that the intended growth of 10 - 15% per year that was targeted would possibly be sacrificed to provide the discount in raising further funds. I am all for some discounted rights issues to existing private and institutional shareholders to increase the market cap rather than dilution in growth.

I was wondering what will occur with regards to the 250M IPO target. As only 107M was actually raised in the IPO that leaves the proposed fund well short with regards to its intended purchases. At some point in the future when the HGEN share has gained more exposure, would an Open Offer be considered to try and increase the fund size or would the proposed size of the intended investments just be scaled back? Any thoughts?

It could be that the flooding that China is suffering is a worry on peoples minds! It would be beneficial if company released a statement on how they have been affected.

senseman, winalot I stand corrected. In A J Bell there is only information and the ability to vote on a single meeting (Vote by 23rd June) on 30th June. If that is the AGM where can I find the details regarding the EGM that comes later.

With regards to the AGM(June 30) the first five resolutions are to remove the existing directors. Resolutions Six and Seven are for the appointing of two new directors proposed by the Crystal Amber fund. Surely it is prudent to support the CA Fund in its attempt to re-align the BOD rather than vote against every resolution.

PFC have been singled out. Other Companies are just as culpable!

https://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-56414269

134 Million Shares available in the Open offer. PI`s only taken up 37 Million Shares. Not what you would call a vote of confidence in the management. The expression "Once bitten, twice shy" comes to mind.

Engineering, Procurement & Construction (EPC) In other words they would be in receipt of quotes for the work from Companies.

Simplistic view

Current Market Cap @ £20M = 1.25p Share Price
Write off CLN debt @ £15.6M
Capital raise @ £6.4M
Predicted Market Cap @ £42M = 2.72p Share Price on Current Shares issued (1541M)
Predicted Market Cap @ £42M = 1.35p Share Price on Total New Shares (3100M)

5T p.h Plant Income £7M p.yr.
EBIT based on 17% of £7M p.yr. = £1.19M p.yr after operating costs.

Q1. How will Share price and Market Cap be affected by such a small profit?
Q2. What amount of debt finance is yet to be put against the Company to achieve 50T p.h Plant?
I know it is a simplistic view but I would appreciate anyone`s thoughts

Makes you think? Was this already known about? Was the placing to cover the cost of this proposed litigation? Lawyers in the USA do not come cheap!