The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Every long term holders nightmare. You sell some on a spike , then it drops a bit and you wait for bond conversions to buy back in, but they don't convert and the price moves ahead again. As a percentage play the strategy works but not every time. I sold 1m on JV news last week hoping to buy them back in the low 1's. Still might happen and still in a much better place than prior to the JV news but most frustrating.
HITS as usual some very informative and well researched posts irrespective of the motivation. As you say the next 2 years are pivotal and in the meantime we are hostage to gas prices. If only GL had produced when he was supposed to when we could have sold at $600 and been debt free, lol. We are where we are but a winter at $200+ would be transformative. Oh for some transparency!
Disappointing to see the SP only at 2p on this news. Guess everyone is waiting for the inevitable bond holder conversions. Thus traders see this is a spike that enables sells to buy back lower once conversions continue. SP aside and short term trading aside great news..
Every week we get more bond conversions at bargain basement prices thus translating into excess dilution and this excess dilution will continue until/unless production ramps up or we get the JV. Why buy today when you can buy cheaper tomorrow unless you are a clever trader? Our MCAP at 10m is ridiculous but reflective of an equally ridiculous death spiral financing scheme and a CEO who is not fit for purpose. I remain invested and still believe that with a JV and well makeover those who invested at 30p plus will make money. Short term I wouldn’t bother buying (for the reasons stated above) but if you have a 1 to 2 year time horizon buying at these levels could look very astute in 2025 (even if in the interim it falls to 1-1.5). GLA
WG, irrespective of your agenda I have ticked up your post. It pretty much concurs with my views and it is interesting that the actual debt is per my assumptions ( until more knowledgeable posters corrected me and I bowed to their superior knowledge, 😂). I expect gas prices in the winter to rise. If we see rates at $200 plus and can lock some in at those prices the finances here will be transformed. GL completely misled us with his timescales and comments about just turning on the taps. Glad he is going and that a more competent operator has replaced him. 2-3p next year still very doable. GLA
Desree, you are correct that GL missed his own deadlines by several months and in the process missed the high prices and cost us a fortune by not producing for the hedges. Mercuria made lots we made nothing just landed ourselves in debt and trashed the SP. But that explains why the sp is sub 1p as opposed to 10p. Hopefully we do not need a placing and with decent production and winter gas prices our debts will swiftly fall. I questioned the hedges last year and also said a few months ago that our debt was substantially higher than posters thought (check my posting history). I still believe that with a fair wind 3-4p is doable. Time will tell.
No shares Patel you are like a virus that infests chat boards. A nasty horrible individual who takes pleasure in the misfortunes of others. Deep inside you lurks something very sad. I feel very sorry for you irrespective of how many pennies you pick up from your actions. I am in profit here but see you in action on other boards. How do you live with yourself knowing everyone finds you vile.
Jono that’s circa $300m pa extra . Encouraging indeed! If oil goes back to $100 debt repayment levels would increase substantially. I am very chilled here but my B/E is in the 20’s . I understand why others are less content.