Member Info for Rhambo

Evening GFD. Indeed, this is the crux of the matter... What is the cash position? If the trading update does not mention it then I will infer the worst... Going off previous cash burn with the £3m netted to nil (we await confirmation of that, or I do expect debt for equity dilution), by my calves EKF will be below its last £1m by now. Personally, i have not heard anything new from the co which would hint as positive to that effect, particularly in light of the last trading update in February.

It hasn't filled the hole. You still have a net £3m hole from those two loans.... Either EKF spends the £3 million in which case it is £6 million worse off or uses the new loan money to repay existing debt, in which case it is still out of cash. Fundraising is still necessary.

One more point to add - I would expect a fundraising to be heavily discounted. Last time the company needed funds, it had to do a related party transaction (big red flag) with RZ. It looks like even the bucket shops aren't that interested as they don't think they can flip it for a profit. This is conjecture, though.

Not particularly, anyone holding shares here is. This company is out of cash. RZ has said he will not take the shares at 14.25p this morning (let's face it, why would he). It looks like EKF and RZ have parted on bad terms and this is now a £3m black hole in EKF's finding. To my mind, this now means that the funding requirement for EKF is now urgent and it is totally out of cash when factoring in the -£3m. It needs a fundraising which RZ can take a 15% discount to. None of us know the other terms for the loan, other than change of control or default. Not sure what 'change of control' is tantamount to, one would think a takeover but could be more loosely termed than that. The company will have to fess up to the grim cash situation in its next trading update, which by my calculations should land at some point in the next 2 weeks.

I've closed my long out last week at a small profit. To look to get back on a short term trade, well, from a techical viewpoint AAL is on downward momentum (-ve MACD) coming off its recent highs at around 50 RSI on the 1 day charts. No massive clear signal but IMO with the negative momentum on the trade at the moment I would be looking for a slightly lower entry point, with the -ve MACD bias weakening and starting to turn positive and a lower RSI. TL;DR - I think there's a lower entry point out there in the near future.

LOL Pot, kettle, black.

I think it would entertaining to see you try...

Bought at 371 as this almost 30 rsi now. Got some more if it hops into the 20s

.... Because it hopes it can get them on the cheap from the bondholders. Aminex has less than £2m gross in the bank by reasonable estimation so we're not talking megabucks coming to save PCI LOL

Anyone who bought a week ago is still In profit. No one ever said it will move in a straight line up.... But if you want stand in front of an express train go ahead and open up a short. Ps only seeing you here on down days....?

Are you adding?

Mike, Given that the current bod has been totally inept, why do you think WV will want to keep them on? They will simply hire other people. With respect to the BOD being shareholders I rather fear you do not fully comprehend the situation. The company cannot fulfil its obligations to its bond holders, it is therefore in default, therefore the BOD's shares are completely worthless as yours are. You both hold shares worth 0p and you don't have to listen to them anymore. There is no hope of WV dealing with the BoD, it has no reason to.

no, it's not a win-win for everyone. It's a win for WV. It's a defeat for shareholders, you will be left with 0p. WV will take the company over as debtholders and the equity will be worthless, you as shareholders had your chance to take 3p and rejected it. Now you will be left with 0p, I'm sorry but this is the brutal truth.

I expect a bullish FTSE straight out the gates next week.... The worst news was a slower China and it wasnt even that bad news. I expect a 'gentleman's agreement' to come out of Doha which will be enough to send oil & commods higher over the weekend. On a macro level, there's still not really any bad news about any of the major western economies. Really, when you sit back and look at it, everything looks pretty damn good. Very hard to see an end to the bull cycle until there are either major moves in the employment or the housing market, IMO.

I would also not be surprised to see a NOMAD resignation next week, presumably the BOD will realise it's time to stop paying people it doesn't need to anymore.

JMSM - unbelievable - you purport to be a shareholder and belittle shorter's research when you can't even properly research your own company's RNSs in the PAST ONE WEEK!!! Read the 8th April RNS when it clearly states they repurchased some debt: "8 April 2016 SUNNY HILL LIMITED ("Sunny Hill") Purchase of 30.56 per cent. of Petroceltic's Senior Bank Facility from certain members of the Banking Syndicate by the Worldview Economic Recovery Fund Sunny Hill, a company wholly owned by the Worldview Economic Recovery Fund (the "Economic Recovery Fund"), is pleased to announce that, on 7 April 2016, the Economic Recovery Fund acquired 30.56 per cent. of the Petroceltic Group's outstanding indebtedness in respect of the group's Senior Bank Facility from the remaining members of the Banking Syndicate (the "Second Debt Facility Acquisition") at a discount to face value. Following the Second Debt Facility Acquisition, the Economic Recovery Fund is now interested in 68.0 per cent. of the Senior Bank Facility." So WV owns 68, not 37.44 per cent. Do yourself a favour and do one before you embarrass yourself even more.. I despair even more for the guy who thought you had a point and recommended your post.

0p back on the table again, sunny own the debt.

... Closing in on 18000 again. This will send Asia and commods nuts overnight. This should smash into the mid 700s sharpish tomorrow.

Who could say, that would be up to a buyer. There aren't any earnings to perform a multiple against...

Well, Panmure is the house broker/NOMAD, would you expect anything different from them?