Prior to the Avinalaugh saga 55p5 Jan 2018 00:03
from pretty much the start of 2017 until April we were happily bumbling along at the undervalued price of 55p, at least myself and Tosca were and SP Angel were of that opinion. Then in April came the first of two RNSs regarding the Avinalaugh paymentwhich we subsequentlu dropped on, then in May came the second RNS stating they had not been paid, boom down we went, not even the Chinese 76p conditional bid could not save our ailing share price and we headed down to the 30p level.
The next event was the non filing of accounts on time which ended up in suspension of trading for 10 weeks, only to resume trading with that RNS mentioning the dreaded "going concern" wording and resumed trading at the ridiculous price of 20p, of course the position defenders went straight for the jugular huffing and puffing about "The End" of San Leon as we know it etc etc.....once the weak leveraged positions were stopped out and the City had their fill they ripped it up to 30p before dumping it back to the mid 20s, where it remained for a few weeks and last traded that price before the latest potential RTO suspension.
In the interim we have had the news that the Avinalaugh saga which started all the fuss in the first place has been put to bed, ie paid off, sod off, on top of that we have had news of receiving the 19m that was due on or before the due date and finally the news that Barryroe will hopefully now start flowing as will our circa 5% that will need to be added to the share price ))
So basically the supposed main issue that valued a company with a NAV of at least $4.5B at 80m has gone for good, on top of that by receiving the latest 19m loan note repayment it puts us cash positive and debt free. So that means even in the unlikely event that we do not receive revenues from our indirect oil share, we will have GUARANTEED monies coming in by way of loan note repayments, also in the mix is the highly likely chance of a firm bid, if its acceptable or not is another matter!
Im no Sherlock but all the above not only points to an opening resumption price of at least 55p (the previous price before the Avinalaugh games spoiled it) but it also suggests we have a very exciting and value enhancing year ahead of us, thats if we actually remain as San Leon ))
Good luck the believers, believing this time around paid dividends, speaking of dividends ))
Bestest
Dickie