Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Neil,
Very good posting and thanks. Your observations around strong hands are spot-on.
Especially in small cap stocks, volatility is a major issue. It looks to me here in PANR (in which I have a decent position) that we had a combination of short attack and some weak hands (the two are often related).
But it also appears to me that the strong hands here largely stood firm, despite the temporary assault.
And that speaks strongly to a) confidence in the VALUE of the underlying asset and b) the substance of the main shareholder base.
So, I have bought some more at what I think are now extremely attractive SP levels.
I believe the pricing arbitrage relative to potential asset VALUE to be quite large here. Maybe more than quite large.
That is simply my view - and I have backed it with my wallet. DYOR and never take share trading advice from BB posters.
Androcles was well on the money when it came to describing Little Nige.
Dictyostelium discoideum is a species of soil-dwelling amoeba belonging to the phylum Amoebozoa, infraphylum Mycetozoa. Commonly referred to as slime mold, D. discoideum is a eukaryote that transitions from a collection of unicellular amoebae into a multicellular slug and then into a fruiting body within its lifetime. Its unique asexual lifecycle consists of four stages: vegetative, aggregation, migration, and culmination.
I am delighted to read this morning's RNS relating to the Challenger settlement.
I initially came into PRD because of the CSS/EOR angle and have always believed it to be potentially very valuable. I still do, though, obviously, Morocco and Ireland look to be potentially much bigger.
Either way, the RNS suggests to me, as an LTH who thinks PRD is a massive VALUE play, that PG and Lonny continue to show that they have put together a trifecta of assets of enormous VALUE.
That is quite some achievement by just two guys - across 3 continents.
I remain very glad to have invested quite a bit in this stock.
Little Nige,
Since you seem so keen now on Shakespeare, you might care to be minded of Coleridge's great description of Iago (in Othello) as being "motiveless malignity".
I suspect you may not be without motive but you certainly display very enthusiastic malignity.
I hold decent positions in both PRD and PANR and it would be fair to say that on both fronts, the last couple of days have been a sub-optimal experience.
Like any other shareholder, I may be right, I may be wrong, but I am of the view that, in each case, we have encountered a little bit of inclement weather - but the ultimate destination (VALUE) remains on course.
It is approach to investing in stocks that has served me perfectly well over some 30 years and I have pretty much avoided any real dog's breakfasts on that journey.
Even the ones that had some temporary difficulties (like Captain Cook had with the angry natives in Tahiti on his way down to build Australia) always came through, some hugely so and some just fairly well.
Just my perspective, FWIW.
Part of the challenge with O&G minnows - though PANR is bigger in mekt cap than many of the minnows - is that it resemebles a rollwer-coaster ride.
I am not a geologist at all but it does seem to me that the response to the RNS was a bit excessive, given that it related to an asset that is a very small part (4%) of PANR's projected asset base. Of course, projections are just that and can be very right or very wrong.
I think also with stocks, especially in O&G, one needs to be either in for the long haul (my approach) or trade the stock (basically trade the volatility). Neither is necessarily "right" - different approaches suit different types of investor.
But for those who take a view on the scale of the potential asset value and then apply probability-weighting to said asset actually getting monetised, I did not see anything in this morning's RNS to spark panic - though that, it would appear, is what has happened.
It still appears to me that the potential asset value is there and I shall remain a holder unless and until something happens to make me doubt that.
Relative quality.
For any who are new to this (largely excellent) BB, and even those who have been here a while and may have gotten tired of some of the peanut gallery stuff from Little Nige and his bag-carrier, Redbox, I would reiterate my advice to have a look posting histories (you just have to click on the poster's name and it pulls up their history).
Look at what GRH, KeithOz, Methodolodogy, Wacky, Seabright, BRV, MickTrick and others have posted over a long period of time.
And then look at the drivel posted by Little Nige and his bag-carrier, Redbox. And then PastaBelly, who can barely even spout drivel.
Compare and contrast the quality of the relative posters.
Obviosuly redbox will call me a sycophant and all his usual nonsense.
For any serious investor, do not get distracted by some of the noise here - just go to the best posters and read their stuff. And then make up your own mind.
And, of course, if you want read Little Nige's stuff and Redbox's and PastaBelly's - it will give you room to compare relative quality.
Take care not to vomit.
And then apply weighting to whose opinions, insights one may wish to take notice of.
A share buy-back here is more complicated than with most companies.
Because of Crystal Amber's position, with 29.8% shareholding. A share buyback could (indirectly) push them over the 30% threshold - at which point they have to make a compulsory bid for the whole company (the Takeover Panel rules).
I suspect, therefore, that CA may be encouraging the company not to go down that route.
Little Nige, Redbox, PastaBelly, Porters and company, why not have a read of that extraordinary Wackmeister post?
That is a truly brilliant contribution to the discourse. KeithOz, GRH, Seabright, Methodology and others have also contributed brilliant insights - into the geology/commerciality with very little comment on share price.
Maybe you might want to read those quality comments rather than your own - I can only presume that you must also be bored with yourselves?
I
Rosso,
Read my posting history if you want to or even can.
I am not any other version of Sefton names. I post mainly on here (because I think this is a great BB and I have a decent stake here) but also on PANR (I also have a decent position there) and HUR (where I do not have a position but would have wanted to have if they had a proper leadership team - they have a lot of cash but a pathetic major shareholder, Crystal Amber, an utterly useless chairman, Wolfe, and - if it were possible - an even more useless CEO, Maris).
I may not be everyone's cup of tea and I realise that regaining the Empire is not front of mind for everyone but I am what I am and do not hide behind any other monikers.
Rosso,
Look at the quality of GRH's posts over a very long period of time.
Very detailed, very insightful.
I happen to regard the man very highly, though I have never met him (I have spoken to him).
What benefits was there is now spewing splenetic bile on the BB against him? Are you related to Little Nige or his bag-carrier, Redbox?
None of which would be helpful.
Attacking those who add value is not a good approach.
Disagree with them on facts if you want but don't run just noise with two runts here, Little Nige and Redbox. Actually, I left out that moron, PastaBelly, from that list.
For any who are new to this Bulletin Board, I would suggest having a look at any poster's history of posts (you can pull it up just by clicking on their name).
It will give you a pretty good sense of relative quality.
Look at GRH's comments - or Wacky, or Methodology or KeithOz or Seabright or Micktrick or BRV any of the other great contributors here - and then compare and contrast that with the drivel endlessly spouted by Little Nige and his bag-carrier, Redbox.
Given Musk's supposed involvement, the bid was more likely at 420p.......
Mushrooms are clearly catching on.
Kever,
You may know much more than me and seem very well-informed.
If there is a bid at 14p and that is why Crystal Amber have been so servile, great.
I am not a shareholder (I would have wanted to be if they brought in a senior leadership team to deploy that cash pile to effect).
But if such bid at 14p actually comes through, I will be very surprised. Who would bid cash for cash - at a premium???????????
That would take a special kind of stupid.
Which is, regrettably, much less rare than one might hope.
I still think a cash bid (unless from someone clinically deranged) unlikely.
In which case, kick out the clowns, Wolfe and Maris, and do something interesting with the cash pile.
One does not need to have gone to Trinity, Cambridge to work this stuff out!!!!
The problem remains here, as it has been for some time, that there is a major shareholder, Crystal Amber, that has absolutely no gonads at all and has done nothing successful to remove the clown, Wolfe, as chairman and the useless Maris as CEO.
Had Bernstein at Crystal Amber taken proper advice, this thing would not have ended up in this cul-de-sac (where no-one apart from Wolfe, Maris and Chaffe benefit - and then by just hanging on to their massive salaries for doing what would appear to be sod-all).
What could have been done here with that cash pile and a dynamic leadership team could have been huge - and certainly given optionality on an otherwise turgid share.
Crystal Amber are just yelling chihuahuas.
Withdrawing the EGM requisition was a total strategic disaster.
The HUR stock is now nothing more than an actuarial argument over the remaining liquidation value and whether anyone would attribute value to the tax losses.
The lost opportunity here should be blamed on that useless Wolfe and Maris in the first instance and Crystal Amber in the second.
Senseman, the only reason I am commenting here (as a current non-shareholder), is that I believe that, if CA got their act in gear, kicked out the current loser (Woolf, Maris, etc) and put in a strong leadership team, great things could be done here.
And then I would want to be a buyer at this price - because it would then represent a cash underpin with potentially massive upside optionality.
Senseman,
I am not a shareholder, disgruntled or otherwise. As I have made clear.
I simply believe that a very major opportunity was missed here to use this cash pile to do something interesting stuff.
In which case, I would have been a very interested buyer of shares at this price - provided they had removed this useless board and brought in some proper, dynamic people.
Flyingpie, to utilise tax credits of that quantum, the buyer would need to be a pretty big player (with strong profits to thus utilise the tax losses). The big players will very seldom buy something just for tax losses (there would need to be a bigger strategic play - which there is not here, there is nothing but cash and the big players have lots of that).
The smaller players - the more likely bidders here - would be unlikely to be able to use the tax losses (they themselves are often sub-profitable and/or have tax losses of their own).