PYX Resources: Achieving volume and diversification milestones. Watch the video here.
crl,we've all been caught out today, but remember you've been trading this for the last 6 months at least! we can't get it right all the time, this was always gonna happen some time this year now it's done we can all move forward, you've been telling any new investors this is the best run company in the world! now your changing your tune over a placing which could transform the company? this is still a fantastic investment over a 2-3 year period.
Well said, my thinking exactly, i would have been more disappointed with a slight discount raising $5mln, instead they've gone in big $20mln with big discount, that's a great amount for a company of our size, hopefully no more now for a few years.
crl, i did ask Bruce at agm if all debt was gonna be paid off by year end, and would it come from cash already generated, he did say we haven't ruled out going to the markets, obviously they couldn't tell me what was already in progress, i was expecting something maybe around Oct-Nov time? on the one hand gutted i didn't sell @27p on the other hand we're now totally debt free with a nice chunk for a potential acquisition or two?
Also i don't think many shares will be flipped either, two directors were big cln holders so they wont flip neither will the new institution hopefully.
Just a hunch Ross, if production had increased I’m sure they’d have mentioned it in last report? I noticed they’ve lowered end of year production from 900+ bopd previously to 800 now, I think they’ll struggle to make 800 bopd to be honest, I hear the WF is not working as hoped.
Went AGM earlier, only a few there, got to speak to all the board 1 on 1 over a coffee before and after, nothing new really, production circa 2800 bopd, more debt paid off, everything going to plan as far as I could see, Bruce did mention Perenco as a possible partner for TGAL project. And Bruce doing the rounds drumming up more interest, overall very confident.
When buying any stock always check the CEO, founder, see what they've done previously, in Tommy boy you've got the best there is in the oil industry, raising £40 million in 2014 was a masterstroke, he could see the turmoil that was coming, he could have easily wasted that on crap, instead we're now in a position of real strength.