Member Info for PUTUP

"Putup. - you are completely missing the point and you know full well enterprise value is different than what I was highlighting. My point is that GKP has previously had a market cap in excess of 4bn without any route to market or proven production, this valuation was based on potential and now my rant :)"

If you are going to rant at least get your maths right.

Nostalgia is a wonderful distraction from the reality of the present.

Wiseman's statement "the current market valuation approx £157m less £100m debt values and cash on hand of £40m our total reserves and assets at £17m which is absolutely ridiculous" (sic) is almost as wrong - if something can be shades of wrong - as the fellow who thought the company didn't have any debt.

The correct computation of enterprise value = equity value plus net debt. As of September 2, the company had net debt of negative $40m ($100m of debt less $140m of cash), equivalent to approx £31m. Let's keep the same market capitalisation / equity value as used by him, i.e. £157m, and we get an enterprise value of £126m. This is the value that is being ascribed to the company's non-net cash assets (assuming the market value of the company's debt is par). While still low, in my opinion, it's 7.4x the number calculated by Wiseman72.

"The issue for me is the fact we are totally reliant on the MNR/KRG."

Nothing new there

" I have banged on about this for some time for me diversification is key"

That's a stock portfolio decision. The job of management here is to exploit the asset in the best possible way given all the constraints at hand. They need to focus rather than diversify their attention.

What do you want them to say that's not covered in the results and outlook? Don't expect much if anything, until a new CEO has been found and he or she's 90 days into the job... Careful what you wish for when you wish for the CEO to quit.

What are you talking about? The company has notes outstanding. Note 13 to the half year financial accounts.

I will buy more around 73p. Shouldn't have to wait too long.

A ton of shares crossed in the auction?

It also suggests that any remaining distributions won't take Astaris/Mr Koomen below 4%.

The fact that there haven't been concurrent disclosures by the recipients suggests no one entity received more than a 3% stake as a result of the distributions.

"So as at 14th (apart from Sothic/astaris) we have 9 insti's holding 48.52% of gkp. The question is how much more is held in other insti"s and retails hands? Enough to stave off a smash and grab?"

You are making the assumption - flawed in my view - that the likes of Hargreaves Lansdowne and Interactive Investor Trading are institutional holdings rather than retail

They're winding up the fund. The question is whether those to whom the stock is being distributed to hold or sell. Up to them now.

ayatollahblair I bet you subscribe to QANON as well. Good luck with your tin hat. In your opinion, who is doing the manipulation and to what aim? If you are going to keep spouting conspiracy theories best come with some suggestions (let alone proof) as to who the operatives are, their means of conduct and their aims.

The issue with this stock is that it has far too high a retail component, retail probably dragged in since it featured on the post-it board of some London cabbie tea stop. These "long term holders" have made a huge investment mistake and slowly but surely are bottling, drip by drip. As a public company this stock needs a much higher institutional sponsorship but will always struggle to generate one because of ESG concerns. Capital Group blew out. Then Blackrock. The only guys attracted to this thing are distressed players like Astaris and Lansdowne and small-cap specialist funds like Dimensional. Frankly it would be better off as a private unlisted company. The only decent bid in the stock recently was Voleon and before that the company itself.

Now all that provides opportunity for those who understand the dynamics but don't expect the stock to realize good value until there's been a lot more capitulation from LT retail. In the interim, if you are a believer accumulate on weakness and tuck it into the bottom drawer for 3-5 years. Don't be surprised if we drift back into the 70s.

Not even that

Low of 86p today. Wasn't far off in just a day. But there's still a good likelihood we test the low 80s. No manipulation. Just a bunch of bottling LTH and very little on the bid. Bottle, bottle bottle.

Unfortunately the only decent bid in the stock is Voleon buying some of their short back. Were it not for that, and some wishful thinking re Sep 3 (which I believe will largely be a non-event without a CEO) the stock would likely be 10% lower.

No. They've just crossed (down) through the 15% threshold and are required to make the mandatory disclosure.

If you look at their trading activity versus the GKP share price it highly suggests the position is just part of a broader portfolio strategy/trade and not one singularly focused on GKP

What makes you think they have to?

It's a bit of an anachronism that GKP is quoted in pence. Oil is quoted in USD dollars. The company is paid in dollars. Most of its costs are in dollars. It's a dollar-denominated play. Since March 31 the stock is up 51% in USD. Not bad considering the disruption to management, COVID etc. That said, I expect the stock to remain moribund for the near future.

I would not be at all surprised to see it in the low 80s again over the next couple of weeks

Not my idea of a retirement job.