The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
As I said.
Once the shares are suspended that will be it as far as buying and selling them.
Delisting will follow and you will get your distributions according to the number of shares held.
Once the final distribution is made in however many years the shares will cease to exist.
The fundamental problem will be the receipt of the total $16 million.
Just how many years will it be before all received.
Not sure if the company will still have listing fees and directors fees and other expenses until all received. Liquidator fees will probably be based on the total assets so a few hundred thousand pounds at least.
I'm sure any remaining directors will get pay offs.
There certainly won't be $16 million being returned to shareholders.
At $80 a barrel converted at 1.25 that is £64 per barrel income by before any costs.
Say 350 days a year production.
250 barrels a day x 350 x £64 = £5.6 million income.
1000 barrels a day about £22 million income.
At that sort of level we could be looking at a £100 million plus mc. So could rerate to north of 1p s share.
Anything possible here but all depends on flow rate and production rate.
You may have a point there.
If this mine is going to make a huge amount of money you would think that the banks would be pulling their hair out to get this sorted.
The banks are in a win win situation.
They had better get a move on if they want their cut.
Agreed even at 150 a day still £3 million income a year. As long as overheads are coveted then shouldn't be a problem with solvency.
Of course money for further drilling etc maybe a problem in the future.
We have to hope that the flow rate is nearer to 900 than to 250.