RE: What on earth happened12 Apr 2021 16:19
SYFP: I remain to be optimistic about PM and its SP; however, I know how the SP can jump around unexpectedly. PM's former mgmts made a lot of bad calls - resulting in substantial losses on behalf of the investor community. I assume this has not been forgotten.
If you take a look at the SP on Oct. 24, 2019 when PM finally announced an oil find (after so many years!) the SP rose to 5.55p temporarily and immediately lost ground since. BTW: The announcement took place after the summer of 2019 during which PM's SP rose to around 9p.
In summary, I believe the SP will only rise once the market can rely on revenues from the Heron find (which def won't be before the EL is granted). Whatever the news is (EL + partnerships etc.) its got to translate to a substantial revenue flow.
ATB