PYX Resources: Achieving volume and diversification milestones. Watch the video here.
The usual and understandable divergence of opinions this morning after a perfectly reasonable and predictable RNS from the Company which is communicating much more reasonably with shareholders than in times gone by. Due to cv there is obviously uncertainty due to inevitable delay. Markets donāt like uncertainty and price has fallen. My trade at 10.15.41 @ 1.369 was a Buy, not a sell as shown here. I will continue to buy at this level during summer months until clarity returns. GLA
Now enacted. Businesses shut down, curfew etc. I really donāt think we can hang onto the idea of drilling pre-hurricane. But if we settle finances and rig contract ready for later in the year Iām happy enough. Have a good weekend all.
Back up over 2p to buy which is important
Starchild, youāre right to raise the 2p threshold but Iām sure if a rig is identified the price will be well above 2p. I think we should accept there will be no drilling until Oct/Nov given restrictions on movement of personnel. If you continue to believe in the Company as I do the current price is good value. As soon as I can realise cash I will top up. I have holding several million at present. GLA
POC - oil prices are not a misnomer (an inaccurate description or name) they are an irrelevance.
Today was a little bonus. In a fortnight we will know to what extent we are relying upon the CLN. Given the wording of last weekās RNS it will be interesting to know how much of the penalty free sum we will be foregoing.
Steve, at times I feel sorry for all BPC shareholders, but Iām still here!
JC, I fit that category but as long as we drill this year Iāll be happy! V disappointed that we donāt look like drilling in April ( but havenāt completely given up yet) but if there is an an RNS 31/3 detailing unambiguous funding details (with or without partner) for November I can wait a bit longer. GLA
Some may not have noticed that the terms of the CLN have been amended. The Company can now waive up to 50% of the amount agreed at āno cost or penaltyā to the Company as opposed to the original RNS last August that stated any reduction would be at āminimal costā. Could indicate a new source of funding may be agreed by 31st March?
Alan Burns āretiredā to the Isle of Man, hence the domicile of BPC.
There has to be an RNS on Monday as the Board has already advised of this date as being the day by which CLN has to be agreed. There will have to be an update saying either a) itās agreed, b) it needs more time, or c) itās not agreed. If itās the latter then there should be clarification of what is happening.
For those interested, my buy at 08.25.21 at 4.1 was listed here as a sell.
One hopes so. With the confirmation of drilling details now potentially only hours away, following confirmation that funding is in place and the EA approved, Iāve allowed myself the luxury of a small purchase at 4.1p which I believe is as safe a bet as AIM permits. GLA !
Dubed, deadline for CLN sign off is Monday March 9th but Iām hoping Board wonāt take it to the wire. Iād be expecting an RNS to confirm all is well sometime the previous week so Saturn West can commence its short journey to the Bahamas in time for beginning of April. But wtfdik etc!
PI , when I referred to āyouāāI do not mean you personally but the group as a whole! At the 2019 AGM Simon cited the āfrontier risksā associated with the project as being, in his opinion, the reason why a major hadnāt committed.
PI, I was at the 2018 AGM and asked many questions in this topic which was the big news at the time. Simon looked me in the eye and said several times to āread the RNSā and that nobody had āwalkedā. Iāve posted this on several prior occasions but you either believe it or you donāt. Now that the reputation of the Board has risen, perhaps they will get more credit for their efforts.
JTK is absolutely right. The MF is a sideshow designed to show goodwill to the locals. The wealthy ones will have bought shares anyway and the fund is a questionable way of getting involved, given the significant trading restrictions. IMO itās very unlikely to be fully subscribed as we know it wasnāt last week and Iād be surprised if 3 days made a huge difference. Iām saying 50% take up. Itās a bonus cash wise and we move on to the EA, drilling contract and CLN news with the prospect of a new partner ever present. GLA
The CLN will be concluded on March 9th from memory. I canāt see any drilling contract announcement ahead of then.
Sorry - junior admin ājobsā
There are a couple of points to remember- firstly, the MF closed at close of business on Friday evening and Bahamians in junior admin Romeās are not going to work over the weekend just so we get an RNS 07.00 our time Monday. Secondly, the offer was open to Bahamian residents who may or may not live in the Bahamas. This widens the scope considerably. Weāve seen selling on Friday and Monday and buying today. I bought on Friday and am looking forward to Thursday! GLA