Member Info for RForbes

I’ve been holding onto Arkle since before the 2p spike last year. Happy to sit tight until SP at least restored to that level again.

That’s only about £9k ? I’ve been in this since last year with about 4m shares. Made a great return on paper when price went to c2p. Price then retreated but I still think it will work out in the long run.

Yes it is becoming a little frustrating - I am not convinced by Teeling .

I did say back in Dec that PMO would be worth c18 pence per share at time of Harbour re-issue but I was told to stop posting . I will invest back in once the dust has settled a little - I am only aiming for a c20% gain, however.

Were all the resolutions passed at the EGM ? I was nervous that we were going to lose the AIM placing .

Current shareholders in PMO will receive 5.45% of the value of the new Harbour business so it depends on what you think this valuation to be. Some people think it will be £6bn+ and therefore into FTSE 100. I believe it will be c£2.7bn. As such, 5.45% of this is £147m. This is 77% of current valuation of PMO. Shares are effectively worth 16 - 17 pence. This is why PMO is so heavily shorted. I have highlighted this a couple of times but was told to stop posting. I sold my holding at about 22p, I recall. Anyway, best of luck. Once Harbour starts trading after the deal is done, then I think the value of the group will increase from the £2.7bn, on the back of oil prices, lower debt, corporation tax offset using prior losses, etc.

Appreciated and understand this is your view. I recall Arkle are funded through 2021 but thereafter not sure - may not have the funding to progress the zinc in 2022. I was hoping they would just sell their interests in Stonepark to Group 11 or Greencore at a small premium to current mcap and focus on the gold.

Thank you - that's helpful. I understood that drilling was to continue at Stonepark ? Do you think Arkle has future potential in 2021 either on gold or zinc or is it pretty much dead in the water now ? I am already in ORR and added on Monday so that has worked out nicely so far. Will take a look at the others . Have you looked at BRES ?

Hello - bit confused by this one. Bought early Jan in hope of good rise on back of Stonepark Zinc drill results, then had unexpected bonus rise based on gold results. Nearly sold out but waited for zinc RNS. I’m not sure why this RNS was so badly received and the price dropped. Group 11 didn’t follow this trend yet it was effectively their drill news. Any thoughts on where this might go and timescales. I’m tempted to cut my losses and move on - any views please ?

That’s only c£35k ?

Maybe but do take care to understand the deal here - I hope it works out well for you. PMO has been my best investment in 2020.

I agree PMO is great for trading - I bought and sold on Xmas Eve and did the same again this morning. I still think the share price is worth 17p based on 5.45% of estimated £2.7bn mcap of newco.

I think it will drop to 17 p ie 5.45% of newco mcap.

I've sold 100% of my holding today at just over 22p having bought at just over 11p at the beginning of November. I just can't see PMO shooting straight into the FTSE 100 with a mcap of £3.5bn+ . I think it could reach this level and more, eventually, but I will assess after the reverse take-over is completed. If the Newco value is in the mcap £2.5-£3bn range, then I will buy in again, depending on oil price forecasts at the time. Anyway - GLA !

Fleet is contract specific.

The value of Newco would need to be £3.5bn market cap to provide existing Premier shareholders with equivalent value based on the 5.45% equity arrangement in the new business (5.45% x £3.5bn = £190m = today's market cap). A valuation of £3.5b would push Premier into the FTSE 100. Analysts SP Angel indicate a Newco value of £2.6b. At 5.45% this would be worth £142m to existing Premier shareholders which is about 25% less than current value. Accordingly, the shares are probably worth about 16pence. Newco would need to be worth £7bn+ to deliver the equivalent of 30p+ share price to existing Premier shareholders. I purchased at just over 11 pence but I don't think it is going to go any higher based on the above and will therefore look to sell unless anybody has any different views ?