Member Info for shamI89

Candy brothers made a cunning move, they knew that company would need funds as November and December wont be good production wise, so decided to take advantage.

On top of that when they managed to restructure debt in 2016? banks put in a clause that company would hedge 33% of annual production, so theoratically they should have hedged 16000 ounces of gold in previous year.31 January deadline is important.

They have taken out the loan and have used it too , last two months were hard as production was not up to standard and they needed money.We will find out soon and think they are due to update market on quarterly production soon.

Yes they would have to suspend the trading until company clarifies its financial position.I think ball is in Banks's court now as any deal would have to be approved by them.On positive side Major lenders are in the same boat as us as if company goes into administration Bank would have assets as they are principal lenders and whatever is left after serttling bank debt and paying for administration fee would be passed on to shareholders.Either major lenders are asking for D4e or something that undermines principal lender's interests and therefore it is not getting approved.Banks have upper hand here as if company goes into administration they would have a asset which cost 140 million to build and is producing 50k ounces with resource estimate of 1.4 million ounces of gold.

whole mezzanie style debt facility fiasco was created by major shareholders to either get on major lenders's list or get debt to equity deal.I am assuming that Major lenders are not approving this deal.I still believe that pulling the Rug would be of no use to major lenders as Banks being principal lenders would get the company assets and shareholders wont be right at the bottom.

They should have updated market on production and CEO.

It is not even full trading day today , lets hope we hear from them during day.

It depends on RNS.

Their funding RNS normally land about 11 or 12.But lets see.

Either way we agree that poo would go down.I agree that there would be money to be made, last time pmo was trading at 19.

All of these thibgs become irrelevant when we enter a bear market and it is happening right now.Market can go crazy I am not saying Tullow is a bad company but poo is affecting tullow big time and opec is not as effective as it once used to be , several countries have left opec and there is a rift between its member states.

Think it is better to wait and let poo settle first.This is exactly looking like crash of 2015/16 where opec was trying to crush shale producers and that did not work.This time they are trying to prop up poo but few members of opec have left the cartel production cuts announced are not enough.

it in May update that we believe that sanctions would affect us and we are working with European Union to find a "sanction proof" way of receiving payments.Instead they came up different versions to assure market that sanctions wont affect these guys and tried to buy some more time.I think they are trying to do same thing again.

New here, before they believed that american sanctions would not affect these and they had second opinion on this by lawyer if my memory serves me right.After 8 months they now have come up with another story and it still remains to be their main "focus".I beleive that second "African contract" is their way of saying that sorry lots we are not sure if we would be getting Iranian contract however lets hope that we bag this African contract.

any sort of refinancing or dilution has to be approved by banks and current lenders are trying to take advantage of vulnerability of company.We will find out as 31 is not too far.

On top of that previous RNS have been landing at differnt times so if it was to come through today, it can come at any time.

Deadline is 31 December so good two and half trading days away.

I dont think they would give you price sensitive information via email so it is pointless exercise asking it.This company has good record of sticking to deadlines , so in my humble opinion no such a conclusion could be drawn before 31 December.We still have about four trading days.

Think new guy would be reluctant to take charge until financial uncertainty is removed.

Yes or we could lose our money if no deal is reached, risk vrs reward, 200-400% rise