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RRE is saving my financial year from disaster. After a full-in on VAST, I had little to lose and went all-in on RRE (full of cash and cash generating). After a series of bad decisions, this was a good one. I will stick around a bit longer after relist and let this run. Cash accumulation will be highly attractive and partly debt-financed acquisition can turn this into quite a company.
swap against 8 GBP /share would not be fair since the impact of the Marathon take-over deal is not incorporated in that share. The share was suspended as this was announced. A swap against 15 GBP would be fair. Dream on :-)
To be honest, I am not sure... if this 87Mio USD is restricted or unrestricted. We will have to await further details on the merger.
They don't make 30GBP profit a barrel on newly acquired assets.. What was mentioned? Assests from Marathon having a free cash flow of about 87Mio USD this year (read that somewhere)? That makes in average 17 USD profit per barrel produced.
Happy to be proven wrong.
Dare I say, after nearly financially being whiped out by VAST, deciding to sell at major loss and put in RRE (at 650p) with a long term view to recover some... I am without words...
It sounds too big to chew... but could they not do an equity-raise + debt + existing cash?
I have sold out at 0.2 and made a massive loss. I truly believed in this share and AP and was in here for years. It has set me back considerably. Currently moved it into RRE hoping to recover some of the loss. Nevertheless, if AP manages finance and focusses on BP, there is a future here. That is where I would consider buying back in... at a way higher price that will be... when he pulls it off. All the best to holders.
I am in damage mitigation mode.. unfortunately not in early retirement mode anymore. Another hard lesson...
I would vote against the Bergen resolution if I knew it was not necessary to keep the lights on until BP comes online. We have been surprised before in the past regarding cash, AP not giving the full picture. I would not be surprised he needs the cash more than we expect. Why did they start with Bergen before XMAS, where you lose two weeks of the 30 days since the lawyers are on holiday? Because he probably ran out of cash and desperately needed it for the end of month employee wages.
Not scaremongering... just trying to be realistic! Rather a dilluted than a bankrupt company. I think we need all the cash we can put our hands on to keep this afloat in the coming months. I vote YES on Bergen
Sorry, I meant the sulphides... Isas, PP is not generating that profit yet. Evenmore, that profit is for now hard to get out of ZIM.
We have had several dilutions so far which nobody expected. 2pence is having a guess, but does not know the actual cash amount that the company has...
PP is not at the oxides yet...
I am not scaremongering. Running out of cash unexpectedly has happened before withouth warning. I expect that this might be the case again. That is why I am voting yes to BT2.
What if we vote down Bergen T2 during the EGM assuming that Mercuria T2 will follow shorty, and it doesn't? Bankruptcy since no cash to keep the lights on?
I might be wrong, but that's where I see the main risk.