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A combination is the answer.
These guys are a largely ME company and the ME is in a mess.
Uk economy in general in the bin. People being forced to sell shares to service the daft debts they took. Companies, people, everything, leveredged. Me, not so much, woohoo!
MM probably rubbing their hands. People selling, less buying, they push price down and scoop up...
Works if it recovers. Harder on something in dire straits. So, They spot trouble, they pump n dump.
My conspiracy head wonders if it gets pushed down to allow the contract awarders to scoop up some shares on the cheap through a fund, in return for a contract. Be too easy to spot though.
Anyway, back in reality. No news on cashflow and all above causing weakness . ME issues probably also affecting release of work/bonds perhaps which could cause some real issues given remarks in accounts.
Lol at the raging dark knight!
For info, snapper is an ex staff guy. Hates the company. Sold his shares ages ago and comes on here to vent.
He is not short or dumb. Knows the company well from his time there and understands the mess they are still in.
He definitely wants the company to fail, but there is truth in some of what he says. So ignore at your own peril.
Bonds looking healthy!! Ouch! Day after day of sells at new 6 monthly lows. Yikes!
Ftse. Shares typically go up and down. By hedging, they can catch some a swing in eother direction. Hopefully catching one in the other direction later.
That's my understanding anyway.
Well, they'd have to pay me a hell of a lot to take the company off their hands at this point lol
Dogger. I note first power (not completion though) of Doggerbank substations. Is this what you are implying is over?? The opposite of a pump and dump going on? Could be and that would help PFC, but not solve their problems.
Takeover?! Good luck with that with their balance sheet.
Over or not, I sus0ect Mavericks proverbial gap has just expanded massively!
Ouch on the bonds this morning!!!
The bonds being "stable" is irrelevant.
If the picture was rosy, these would not be selling for a quarte off the original price. They are still worth the same £1 today as they were on the day they were bought. Each one must be paid back to the holder in full....plus the interest in between now and then. The return is huge, yet no takers.
Still appear to be sells rather than buys.
Somewhere between Mavs predictions and the actual performance?
I'm guessing Mav's "gap" has opened up this morning, after seeing his 80p fade into the distance.
Undervalued? Or just worth less than they were after COVID, SFO, project over runs, drawdown of assets and increase in debt....to the point the management had to admit that thet are worried they don't have enough cash to pay the bills this period.
Still watching, could slowly climb back out of the hole they are in, but it' a deep one and I would like to see them pass this phase before I risk anymore cash on this share.
No news on receiving money? I'd be shouting from the rooftops if I had received it...so I worry they still havent and that clock is ticking pretty fast these days.
Just to shut Mav up!
I just looked at the graphs for PFC again and it looks to me like it has flatlined....that and volumes. Seems barely anyone touching those at the mo. Their bonds still in the bin also. Big gamble IMHO. Hope it pays off for you Mav.
Ha. Over here trying to boost some very low volumes across there are you?
Closed the gaps yet?
That's if they manage to last for the full H2! With the material risk to remaining as a going concern. Still no news on the monies they say they need in from projects in close out or from advance up front payments on stuff they are yet to do.
I will hold tight here for now.
Poker.
The notes of half yearly pointed to risks around securing the necessary bonds to get the contracts kicked off...and that they are reliant on others paying up .
That may well happen. But if it does not.
As I say, it is squeaky bum time. Either they pull it off and this starts to recover. Or they run out of cash probably some time in next 6 months or so.
Sitting wqiting til this risk passes anyway. Might miss a few pennies on the way up, but prefer that to the down aide (which hopefully never matrrialises).
Poker.
Agree for the most part. But they have stated they need those contracts to start to bring in advanced payments. Highlighting a risk there and with collecting payments.
£250 mill ain't a big buffer!
Replies...to the filters lol
GL M8
Sorry precious!
Looky likey profile?
And it sounds like a preFEED. So pretty small beer at this stage. But obvious benefits for winning any follow on.
Agenda?! Ha!
Deluded. My only agenda is to look for a good place to stick my cash. This could be it, but yet to be convinced back in. You may not like my reasons or have your head in the sand, but I call it as I see it.
On the article, all I did was seqrch for "Wood adnoc gas contract". Top result in google is from upstream 8 hours ago. In the google snippet it shows me it says, and I quote word for word...
"8 hours ago - UK's Wood has been awarded a pre-front end engineering design and FEED contract for the strategic gas expansion project,..."
I do not have access either, but that is what I got. Try it yourself!
Can only see headline but am I correct in thinking Wood have bagged this contract?
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.upstreamonline.com/exclusive/adnoc-awards-prized-engineering-contract-for-multibillion-dollar-gas-facilities-expansion/2-1-1504387&ved=2ahUKEwih4pSb7_SAAxUJXEEAHRylDCYQFnoECAwQAQ&usg=AOvVaw1O-0R2-2JjfOdiQG0Sg5of