The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
As a reasonably small holder in this bag of nails I never bother posting. All very angry posts which I completely understand and agree with. Innocent and nieve question....
Weedave is very vocal on here. Unusual for a "main player " to be bothered getting involved in share chat nonsense like this board. Is he someone else in disguise???
Your post is spot on. I've been a long term critic of Carvill and his minions for many years. They have failed miserably to turn this huge opportunity into a serious Global Company. You mention "deliberate ". Just as a new RNS comes out giving another Director a huge share option costing him Nought. I share your cynicism. The only niggle I have in my head. If you and I have little confidence in the BOD why do the 4 main shareholders keep them in situ. Puppets to them ???
I admire your optimism. Not convinced Pathfinder will ever win I think it's a burst flush... but hey ho.. More importantly, I admire the way you have challenged BF (AKA the worshipped one). Not sure if you're familiar with KMR. If not, it's an interesting story. The same BF has been pumping KMR for the past 8 years, shooting down anyone who dare disagree with him (sound familiar??). He was found out on the KMR Board for being a biased Irish clown. Locked down and moved on to your board. You've said the correct thing. Ignore his posts as he's an arrogant, ignorant.....A,**e
Congrats my friend. You've won the award of being the biggest t*t of the day predicting stupid SP rises. I guess someone had to do it, and 'you were it'.
Not sure how far you go back with this bag of nails but do you remember the bold ****ango ??
He predicted a fiver by Easter 2014. Never been heard of since LOL.
What worries me most is that the worshipped one has spent the past 8 years plus trying to pump KMR. Today, for the first time ever they might just have turned the tide but he suddenly becomes negative.
Just proves that he's been at the wind up for all these years.
Despite all of the euphoria, let's not forget that yet again KMR have delivered a project massively over planned budget.
And also, an other worry. Greeno has cashed out to take profit despite saying recently that he continued to pump more money into KMR
HMMMM. I smell a rat ...................
Other than your usual brainwashing nonsense tactic that has failed miserably over the past decade,. Your point is ??????
As far as you're concerned, just assume that I'm a total c""t. You write your nonsense on here and whether or not we like it we have to read it. It works both ways.
The most positive thing about KMR is their safety record, how they treat their employees and how they look after the local community. I have no doubt they will do the same following this very sad accident
We're doing more than yawning after reading your rubbish for the past 10 plus years. Not one of your predictions have come to fruition. I guess that's why you disappeared. Your followers were worried as to where you'd gone. But alas... you're back
Yup, and Carvill relies on guys like you who never hold him to account. Cast your mind back to all the quarterly, half yearly or annual updates. Not once have they ever delivered anything on time that was meant to materialise. One excuse after another.
Cap - looks like you've taken over the baton from the Worshipped one with your defence of KMR and attack on Ken
You'll remember you and I agreed to disagree about why KMR had to refinance their debt. Long before Covid ravaged the world. You stated they wouldn't go into net debt.
Net debt of over 50m when less than 2 years ago the BOD stated that the Company could fund the WCP project from cash reserves.
That's an outrageous position to now find the "bank balance" to be in with no explanation as to why they got it so wrong. Nothing to do with Covid before anyone tries to play that card.....
Where's the Accountability when they get it so wrong ????
Cap - as usual, I don't really disagree with anything that you say.
More importantly, I find it more interesting that for once the only posters on here right now are only them (or is it these or those) who can bring their own personal opinions onto here without making stupid SP predictions of XX by YY based on nothing. Hopefully you'll accept that they're the only clowns that I've ever really challenged.
You're right that it's probably a sticky time just now for KMR but I would hate to think that anyone would dare to blame Covid for that. As soon as they started renegotiating their debt it was apparent that it was becoming sticky. Not only did they increase their debt facility but at the same time they renegotiated their first debt repayment date. A classic way of having to increase their working capital. So in layman's terms, you've got a personal loan and you're skint. You're monthly repayment is due tomorrow. You renegotiate it with me today. Not only do you renegotiate your monthly terms but your first repayment is now one month from now and not tomorrow. I hope I've explained that correctly. In otherwords it saves you repaying a monthly loan repayment when you don't have the funds to do so. Clever but simple.
Greeno says that he's not unhappy. Fair enough. Who Am I to upset his happiness.
Simple question. Production, sales, shipments, selling price etc etc are all on or just about on guidance. Projects are on plan, within budget and due to deliver. So the question is.........Where's all the free cash gone from the year end 3 months ago.
The BOD are well known for being dishonest and very scant with the truth. Can I suggest that from the outset they (like me) knew that the various expansion plans were never going to be self financing.
As I've said many times before why criminal charges have never been pressed against them before now defies belief.
Happy to discuss.....
observant ken - you beat me to it.
I think the fact that no-one (mainly people like me) has posted complaining about the SP in recent times proves that in the current Global climate and in the scheme of things, losing a few quid in shares is completely irrelevant. People's wellbeing and safety is far more important.
But turning to your point - I had many a disagreement (a healthy one of course) with guys like Cap, a poster who's comments I read and respect, when the Company announced that they were restructuring their debt. We agreed to disagree that the Company would go into net debt. My parting comment on the subject was........ 'time will tell'
Anyone who knows anything about Finance knows that you do not spend millions on Bank fees and commissions negotiating new and enlarged debt facilities unless you know that you have to. Either for now or for the future. As sure as night follows day that was always going to be the case. I would respectfully add that anyone who thought otherwise was being very naive.
My main concern is that they are already millions in net debt and that's before the real impact of Covid hits them. Let's hope that the impact isn't that great primarily for the safety of their staff but there seems no logic to suggest that sales, production, staffing etc won't be impacted at some point soon considering everywhere else in the World has been impacted.
What we do know is that net debt will certainly increase as the Projects advance to completion. Or not to completion.
How high does net debt go? I've got no idea but I would confidently predict many times higher than at present. I'll have a bash at gross debt circa 150m, net debt circa 50m and counting.
For those who disagree - time will tell...........
No point scoring at all. Just making the point that you (the font of all knowledge on every subject) stated that you had bailed out on KMR. Never been convinced that you ever held any position in KMR but he ho. If you have sold out ( as you say) I'm not quite sure why you still insist on posting your rubbish on here.
Topped up massively today at £2.80. I'm so grateful that I listened to Cont's financial advice in 2014............ 4 quid by Easter LOL
NicetoMichu...
Your post is absolutely spot on and to the more learned on this board your subtle last sentence should strike a chord. Me thinks that none of us know who BF (aka loser) really is. KMR employee, Southern Irish Loser,....who knows.
What is factual is that he's suddenly disappeared from this board like a rat up a drain pipe - not for the first time.
That said, if you read the nonsense that he's still posting on here about Corona Virus and everything else that he knows on every subject, it poses the question.........why does the whole world not believe in everything that he says.
His knowledge in everything knows no bounds......either that or he talks utter S**t all of the time.
PS He's suddenly gone from dominating this Board to silence. My guess is that he's been found out and run for the hills....
Happy to discuss..........
Primarily the incompetent people who have been in situ for many years.
Rax - how can you possibly say that they're paying down the debt? They've just taken out a term loan and overdraft facility which increases their debt and repays it (if they ever do) over a longer period of time.
Skid is almost right about his jam tomorrow statement except it's actually been longer than 6 years
Slinkyfink - you're right, there isn't the usual pump and dump nonsense on here. Time will teach you to realise that all you get is pump and pump from the same buffoons that have been spouting the same rubbish for the past 6 years. Don't be brain washed by fancy words and phrases
Cap - as usual a well reasoned response. Did todays announcement reflect what we were all lead to believe from previous announcements about self financing etc ?? I think not. To me it's just the usual drip feeding negative news from the BOD. Rodney, this time next year.....sadly next year never comes but the huge salaries and bonuses always do. Anyway, that's my rant for tonight. Speak a again at year end xxxx
That must have been a quick death. Cap posts at 20.14, I respond at 20.19 re 'joking and winding up' and now according to you he's dead per your posting at 20.21???
Do me a favour and stay out of my conversations with other posters.
Cap - joking and winding up aside, I'm just disappointed that once again they've put themselves back in to the position of borrowing so much money. Rhetorical question - After such a mess the last time when we all almost lost the lot it was beginning to look encouraging. Why take on so much debt once again when it wasn't really necessary to expand at this point in the cycle.
Cap - not sure how you can say that it will be financed through cashflow when they've just announced such a huge increase in debt via a term loan and a working capital facility.
In my simple mind, the lenders are once again financing the expansion - not cashflow.