Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Just a curious question... Do they need to RNS buy back every day or can they aggregate over a period, for example weekly? Seems the latter would save money on RNS posts, and really make no actual difference to the SP.
I'm not saying you didn't warn George, I am asking why you were there in the first place? Are you some sort of market philanthropy saint, wandering message boards to give naïve investors the heads up on falling stocks? Seems unlikely. Maybe you're just unlucky, 3 of the four companies you have posted about having sharp drops. Even I am not that unlucky! So, that leaves shorter, either independent or paid mouth piece. My bet is on independent.
You're right. I should have read what you post before. History of popping up on distressed company message boards? A few select quotes of yours:
Game - GMD.L
Can't believe the mugs who have buying into this con. I can't believe either that the company has been allowed to do it, again. Kiss goodbye to this punt, if you were dumb enough to believe a leopard can change it's spots, more fool you.
AFR.L
I'm here because I like a good comedy, and the comedians here are some of the best. As to the statement that '.....afren was a ftse listed company and this supposedly guarantees protection against fraud...' Yeah, right, just like 'the catholic church is a church and that supposedly guarantees protection against paedophilia'
AFR.L again
I know you're a sponge (meant as a compliment), absorbing as much info as you can, questioning, debating. You'll have a good future in investing. The others here ? I bet in the next 3 to 12 months they'll be ******** about one (or more) of their speculative punts that hasn't paid off. the sheep here are destined to be fleeced time and time again. And I have no sympathy for any of them. There's just no excuse for stupid.
George's firs DEC post
I'm surprised nobody here can see what's going on. DEC is being set up to file for Chapter 11 Bankruptcy. It's gpoing to run up its' debit, default, then 'reorganise' under the protection of chapter 11. Rusty keeps the company, shareholders get wiped out, a new DEC emerges from the ashes. It's that simple. Sorry to be the bearer of bad news guys
Looks a very similar set of messages to what you post here. Either you're a Jonah, rocking up on every sinking ship just in the nick of time to point out the leak... or something else.
That DEC post doesn't mention fraud though does it? When you started here you were posting about Chapter 11. Now that doesn't look likely given the company just recently improved liquidity you've moved on to something else.
Interesting you even briefly had time to slate Aviva, but that didn't last, a bit big to be affected eh?
If there is a fraud here george, you look like you're part of it rather than pointing it out.
George, that would involve me reading what you write, which given the number of hours in my life are finite... other priorities and all that.
Clued, George claims to still be a holder which beggars belief given what he posts here.
The drop today is plainly a short attack, no other possible reason. Even if what george says was true and accurate, no news in the public domain, no news coverage at all in fact, gas prices being up on the month but down on the day, and coinciding with US markets being closed for the day, all points to only one cause of the large shift so far today.
In the current markets it is crazy how shorters can sow doubt, employing a few loud mouths to spread disinformation. Look at some of the responses here.
Gar prices rise - Sell DEC as we are over hedged
Gas prices fall - Sell DEC as the hedges won't hold
Acquisition - Sell DEC as they have overpaid
Disposal - Sell DEC as they are selling key assets
Dividend is held - Sell DEC as the yield is too high
Dividend is cut - Sell DEC as they can't afford the dividend anymore
Rebuttal letter is comprehensive - Sell DEC as politicians have an agenda that will ignore the facts
Its colder than expected - Sell DEC as spring is not that far away
Consolidation - Sell DEC as the share price is too high
No Consolidation - Sell DEC as share price is too low and looks like a penny share
US Listing - Sell DEC as where are the shares coming from?
London only listing - Sell DEC as London doesn't like oil and gas
The thing is the company is continuing to make money, buy back shares, pay dividend, and has issued a solid rebuttal to the senate letter. You can ride this out and collect the dividends, currently more or less 7% a quarter. Next xd 29th Feb I believe.
Dear lord. Genius insight like that should be shared more widely. If only we had all had that insight before.
Looks like Grey George is right about some of the IQ levels on this board.
Jeez.
Dear lord. Genius insight like that should be shared more widely. If only we had all had that insight before. Jeez.
Looks like Grey George is right about IQ levels on this board.
Https://finance.yahoo.com/video/diversified-energy-blazing-trail-energy-230132259.html
Interesting that in both the NYSE video and this the implication is more M&A
LNG up about 10% in the US over the last week defying all predictions for doom and gloom. Futures all up also, with near $3.70 for December 24 now.
The one sensible thing you have said is "I won’t post again till project finance is achieved or admin". Ideal and a wise choice.
However I bet you can't resist at least one more message repeating the same thing. 'No one knows the deal but (I do and) I reckon it will be 5-10p'. You're pulling that from thin air just as much as the guys saying it will be 100p next month. Yes we have all heard you. How you combine telling everyone that "no one knows the deal" yet you knowing what will happen is beyond me. How the eff does a bloke running a pub in Middlesborough know the intricacies of a Brazililan mine finance deal when the rest of the entire stockmarket and mining industry is clueless? Does it even occur to you that you may actually have no idea what's going on either, and only your ego keeps you posting the same bad guess over and over?
The facts are no private investors posting on here have any more clue what the deal will be than what Friday's lottery numbers will be. However what we can say is it is less likely to be administration as the cornerstones need not have baled out with £20m if that's what they wanted, why delay it? No administration means no longer pricing for administration. Before the company announced it might run out of money the price was 20p ish, falling to below 10p on the news of impending cash crunch. Seems only fair the price returns to that 20p area now the cash crunch has gone away, at least for now.
Just so we are all on the same page, it is entirely possible to do this whole deal with no equity element. I know that's everyone's assumption, but there are other ways and means to get there. CLNs, asset backed SPV, Royalties, Production Advances and more. Just because the company used the markets to raise when the price was a lot higher doesn't mean they have no other choices when equity is in the sewer. The cornerstones just leant the company a sum equivalent to the mkt cap at the time FFS, and did it like it was pocket change. That's because it is pocket change to them.
Should be an interesting few weeks. And no, I am not going to make a prediction, because like everyone else I don't actually know what will happen.
Here is the original Bloomberg article
https://www.bloomberg.com/news/articles/2024-01-02/us-becomes-world-s-top-lng-supplier-after-exports-eclipse-australia-and-qatar
So, lots of opinions here on where and what this will or should do.
How about a traditional game of predict the price plus income for 31st December 2024. Will this double or halve? How much dividend will be paid in 2024? What do you expect the total return to be if you invested in this now?
My wild stab in the dark is for the share price to recover to 1800p, with 280p of total dividend payments on top for a total return of 2080p in 2024. I am basing that on a recovery in LNG prices going into winter 2024, maintained dividend levels, plus an end to the democrat led enquiry and associated court case.
Any other guesses?
Fair points Mumbles.
The only thing I would add is that this is effectively putting money into the plc, either the banks or cornerstones could have held off until administration and then loaned money for continuation with more protection on that money. The only reason to put money in now is to keep the plc operating, the mine construction could have been continued in administration.
The recent RNS changed a few things about the short to medium term outlook. There are two key points in it.
1. The 20m put up by the cornerstones.
2. The banking syndicate foregoing interest due.
Both parts have implications beyond surviving Q1.
Firstly the market has been pricing this as a bust and heading into administration. For many the assumption was that the big three investors would let this happen and buy up the assets from administration leaving the other equity holders with nothing. That is now obviously not the case, why throw another $20m in if you WANT the company to go into admin? This relatively small amount signals that the cornerstones want the current entity to survive, if they didn't they could have just let the cash run out ASAP. That is new news.
Secondly the banks passing up their interest payment. The banks could also have pushed this towards administration, insisted on their payments being made, and grabbed the assets when the cash ran out. Passing up (deferring) on their interest payment also clearly shows they want the entity to survive too. Also new news.
So in one RNS there is a signal that those that could force this out of existence are putting skin in the game to do the opposite.
Obviously no one has a clue what this means in terms of a full refinancing, but it does mean the plc is extremely likely to be the basis of that finance package rather than not as would have been assumed by many until yesterday morning. That makes the current 'priced to go under' mkt cap incongruous.
I am a former very large holder, and now have a very small position in HZM.
That's also nonsense. The lender will assess the balance sheet, profitability, and assets against which loans can be secured. The market cap is subject the vagaries of the market, repaying a loan is not. The only effect a poor share price performance has is to limit the opportunty to issue stock for cash should the need arise. Profitability, FCF, existing leverage, and NAV are far more important when raising a loan. You can argue that those factors affect the share price in a rational market, but we are not in a rational market. The democrat letter dropped the price more than 20%, but was the company's ability to repay its loans affected in the slightest by it? Was the NAV changed in any way?
It seems your explanation may explain something you didn't intend, your level of misunderstanding. If this is how much you know about business operations I suggest either giving up direct investing or doing a business 101 course ASAP.
Loans are not secured against the company stock, they are secured against assets. In DEC case that's against wells and production facilities. Those assets have agreed valuations placed on them by the lenders, and are completely independent of the company share price.
Aww thanks George, I knew you had it in you despite what everyone else says.
If you really are travelling don't be an Uncle Buck.
I didn't have you down as a plane spotter George. Sat in an airport all day? You've posted every few minutes since first thing. Flight cancelled, turned up 12 hours early, or Walter Mitty moment?
You also protest a bit much about others reading skills and IQ, bit of a sore point is it?
Seems like the US understands how little a Congressional Investigation actually matters. Looks like it may even close up on yesterday's NYSE opening price. Makes you wonder what London will do in the morning.
Got any more rabbits in that hat George? This one seems to have arrived a bit lame.
George, has it occurred to you that your level of interest, maybe even glee with regard to this is indicative that you may need professional help? I don't mean an IFA either. How much time and how many posts today? Why? You must have spent hours on this today, don't you have anything else to do? It does look a more than a tad unhealthy.
By the way, more than 60% of congressional investigations lead to not much or nothing at all. Hardly 'The end is neigh' news despite your reaction, especially with the election coming up. It does smack of playing to the crowd a bit. Tough on Oil&Gas, tough on ESG, but only when it's about short term votes in key swing states.
Unlike you I've had stuff to do today so didn't even attempt a trade, although it was always going to bounce, and no, not in a deceased feline kind of way.
Anyway, do try and get a grip George, 'tis the season to be jolly after all and you're definitely in the Scrooge camp right now.
Merry Christmas and I hope you can find something a bit more positive to be just as happy about
You have deliberately misread what I said about El Nino. It's a threat to the LNG sector as a whole as it in the past has always led to a collapse in US gas prices for exactly the reasons that are playing out now. It's not a positive. It's an additional reason for DEC and other LNG producer prices to fall off the back of weaker US prices.
Actually, you're right. Thinking about it there is no point posting things here to be ridiculed rather than discussed.