Member Info for mrc_mrc_mrc_mrd

L3 - we are talking FCF not net debt (on purpose to muddy the waters??)

I would agree with your figure for net debt reduction, but FCF is usually before debt costs IMHO.

Hi Chris - are you confusing the cash consideration with the asset value? The JV is taking on a few million of debt I think?

There are way too many fingers in this company. It’s not sustainable, the BOD need to rapidly scale this new business stream. I personally don’t think they are capable.

L3 has never provided anything to back up his numbers.

A bearish paw in the air I think.

That said, some things to consider: hedging losses, OZ facility barrels pre financing, debt costs (still eye watering). We almost always over estimate free cash flow so I would put in a factor of safety.

KO- yes they will continue to manufacture of course.

Problems are in domestic consumer demand due to disapproval of conspicuous displays of wealth, and slowdown in output due to strict lockdowns and testing regimes (they can’t change tack because they have been boasting about it for 18 months).

Lol, not really Pelle. Still very happy with ENQ. $60 average over the next 18 months works just fine for me. The SP is fair at these Brent prices and we should trend up as we build up cash, refinance bonds, and develop plans for our assets.

My view is on macro

I think we will see 50s before we see 70s again.

The Chinese don’t care what the economic damage is as they shift further back to the left. It is all about the benefit of society (total nonsense of course). It’s a fight for survival for the communist party - they can’t be seen to have got this wrong so they will brute force it.

You seem intent on picking a fight, so I will leave it there.

I am on the SCIR BB talking about SCIR. Seems right to me.

You are on the SCIR BB engaging me in a discussion about PMG. Bizarre, but whatever makes you happy!!

I have explained my presence here on many occasions.

AA - not sure why you are so keen to discuss another share.

TC owns nearly 30% of PMG - he has put a large part of his wealth in and is well aligned with shareholders. I know for a fact he is a very busy man.

Just last month he negotiated a deal to buy royalties which pays for itself within a couple of years (even less given current record gas prices).

I expect we will see more deals soon, but I think he will only make the right deal at the right price. Unlike the shiftless B Stards we have with the SCIR BODs. Think they are happy to let gneiss sell them any old rubbish!

Maybe it’s time you stopped chasing jam tomorrow?

I’m looking for a correction in US stocks to bring down all equities.

I’m very impressed with ENQ performance vs Brent, but then we didn’t go up as we should have with POO, so maybe now at fair value assuming mandatory hedges can be had for $60 or more.

But yeah, not a bad day really.

PMG are profitable And have around £30 million in cash.

Last placing was circa 7 years ago.

No comparison with SCIR whose assets are getting sold off to fund salaries

Thank you for the financial advice save more

I do own ENQ, PMG and CNE. All in my opinion good value. Also got a large chunk locked up in early stage private companies.

I am more than happy holding a high percentage of cash at the moment though. Would rather ensure I have some fire power if there is a decent correction. I’ve experienced enough to know that it’s useful to keep some powder dry. For example having cash to buy ENQ at 11p last year.

Pelle US market is toppy AF and it will bring good shares down when it falls.

I am not trying to call it to the week or month, but a decent sized correction soon is inevitable IMHO. There are real and serious problems with the world economy, masked by Low interest rates.

Why on earth would I buy a share in a company I can’t trust to deliver what they promise?!

Once the BOD depart I will reassess.

It’s gone up to quick IMHO on the back of fed and fiscal over exuberance. Real damage has been done to the world economy and we have just postponed the pain

Inflation, interest rates and taper all coming. Also tax rises. If they don’t go soon then it will be worse correction when it comes. US valuations are only reasonable if interest rates are at zero for the next 30 years. Not going to happen.

Minimum 15% correction coming. Probably more ImHO.

Could of course be wrong (everyone has been so far), but some big players starting to call a correction now.

As I say KO - still holding a small amount and comfortable medium term. I think we are in for a big correction in the wider market so sitting with a lot of cash same as Spindok.

The US are still in BTFD mode but this can’t last IMHO.

I may buy more here if the market takes us down but also content with what I have to hold through any troubles. Expecting oil to bounce back quick similar to previous big corrections.

The Chinese and Indians are just starting to dip into their reserves. Gives shale more time to ramp up so I think we will probably stabilise around $60 Brent. Keeps everyone happy medium term.

If the markets all go boobies up then oil will of course follow for a sharp dip.

20p should be about as low as this will go IMHO.

Holding up very well.

The BOD need to be removed. This is now getting beyond a joke. How anyone can be satisfied with what is happening here is beyond my comprehension

AIMVHO

This is my last big shareholding. I have unwound my other positions and sitting on about 50% cash on all of my accounts.

Think we will see a rough 6-12 months for the market in general. Gas prices and cash should limit any downside here.

GLA