Member Info for MPO818

With the FED and many other countries predicting 0 and even negative interest rate through to 2023 the price of gold ain’t going lower any time soon. Also worth noting the current sp includes almost no value for the Greenland assets. If/when BLUEJAY start making money any one, maybe all could be snapped up for more than the current market cap. As I’ve said before the story keeps getting better.

Easy way to listen, nip back to Mr Nation’s post at 20.02pm yesterday, 3 pages back and click the link, simple. 30 minutes of shear bliss.

Could be shaken out at this level. Just listened to the presentation again, keeps getting better, serious money to be made for the patient investor.

Yes the sp has rallied strongly in the past week, its also extremely encouraging to see the directors and senior management putting their own money into the placing. A nine year order book will be the envy of many.

Nice change

In theory and normally in practice rights issues are below the present sp, so why do you think the sp will be closer to 30p than 20p. I would expect it to be 8p to 16p depending on the rights price and the volume of shares may well triple.

Slothbaby. “Mined to its bones” WOW. So the already proved samples are wrong are they, and they will find zilch. You must be desperate to get in lower or your just not too bright.

Just read the FT story relating to the above, could these be the type of guys JOG may be looking to jump into bed with. In the article they say the PMO debt is a big issue, well JOG has none, so maybe it’s possible.
Any ideas??

HeresHopin. I have followed PMO for what seems like donkey years, initially inheriting my holding from my Mother. You could say I have a soft spot for them. However, no matter what happens I will not buy (even short term trade them) them again.
I am not deramping and I do hope they work things out, I hate losing and would not wish losses on others.
Read back through their website all comments I've made are factually correct. I wish you the best with you investment here.
if you fancy a punt on an oily with a bit more potential visit the website of JOG, read the presentations there and then you decide, I don't think you will be disappointed.

HeresHopin. Sorry no link, but it is the major reason PMO has been seeking to farm in another partner they just cannot afford to meet their commitment it’s all in the history somewhere. From memory I think they paid £800m (could be dollars) when they acquired their interest from Rockhopper.

SauerKraut. My understanding here is that PMO has a huge commitment to fund Rockhoppers share of work on Sea Lion. If there is a TO that cost and the debt would be taken into the equation, hence not a lot for shareholders, it’s a complete mess.

Auson I totally agree with you, when PMO refinanced a few years back they tied a ball and chain to the company, they have been swimming against the tide every since. Having had shares at £3.50 and bought more right down to 19p I managed to get out at 117p for a tiny profit (less than £100). They have some great assets, but with their debt and low oil price they are vulnerable to a bargain TO they have no defence, banks and creditors have all the power here. I would be filling my boots at this price, but they are planning to raise more than their market cap to fund the BP deal so what’s the point. It’s a sad position to be in, and as I’ve already said the BOD has no regard for LTH’s.

The last company I recall trying to raise funds and then before completion they looked elsewhere for a better deal was Sirius, you know the North Yorkshire potash hopeful. Result, sold shareholders out for 5p to Anglo America. The BOD do not give a toss about ordinary pi’s.

I understand these occur at the start and end of the day but ALBA has had 3 today, what if any is the significance of these.

BolivianBanks that’s a great post, cooling slightly, but as you rightly say a more modest result will still impact greatly on the sp. I note that at around 8.10am market makers took lots of shares from short term traders (no harm in taking a profit) but for me it’s like reading the first chapter of a book and then selling it for peanuts without enjoying the following exciting story.

Granted the other assets have not driven the sp. Looking at BLUEJAY they are capitalised at £74m, have the land adjacent to ALBA in Greenland, like ALBA they have no income but unlike ALBA they don’t have a Welsh gold mine.
This underlines for me the exciting potential of ALBA.
BLUEJAY must be sitting/working on something decent in Greenland to be valued at £74m and if that is the case the ALBA asset there could well be worth more than the current ALBA capitalised value of circa £10m.

After the collapse of US Tech stocks today there will be no hiding place for stocks whether tech related or not tomorrow. Baton down the hatches.

Long term incentive plan. Created 3 years ago and is clearly not working, but how do you incentivise highly paid employees / directors who have no accountability. TD probably only does exactly what he is told to do, so maybe the hierarchy needs a kick up the .rse .

If these pass without any incidents relating to COVID the sp will quickly hit 18/20 quid.

More assets/reserves, presumably farm out discussions ongoing and growing more attractive with this latest award.