The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I think many of us feel that way.
Many of is in at 1.2 plus.
Even upon signing may just get our money back.
All looks a mess to me.
Promise after promise from fat Harry's band.
Very disappointing at the moment with gold at all time high.
The company could still be a rto target as cash at bank more ro come and over £7 million in tax losses.
Shareholders would then have shares in a new company run by a completely new management team.
Probably end up getting more of a return that way.
Imo probably five years before you would get the final installment. Of course this is assuming all of the Ruvuma sale monies are received.
Gas prices are half what they were when the sale was done.
Anything possible here.
Trading in the shares will probably continue until liquidation is approved by shareholders.
Mustn't forget ongoing aim fees and liquidator costs probably in the tens of thousands.
I'm sure the directors are all entitled to six months pay at least.
So at least £500 k gone already from any distribution in the future.
Not holding any shares as already lost tens of thousands so won't even bother trying to claw some back.
Good luck to anyone willing to wait at least another two years for a return here.
Does follow a pattern of many aim shares.
Cash spent quickly for little or no shareholder returns whilst the directors and associated cronies are well looked after.
Hope it all comes good here especially as the oil is definitely there and plenty of it at a good pressure.
Concerning that the same pattern is taking shape as what happened a few years back. Not spending $20 million but still getting through the cash at sn alarming pace. Why don't they just try to increase the current production from 30 barrels.
Because the millions we had received from other asset sales was wasted on fees aborted deals and loans to companies that were supposed to have been subject to due diligence.
This money was supposed to fund Ruvuma through to initial production.
As the money had been spent they just got out taking the worst possible deal they could get.
Probably got an things mixed up but did state that they would re enter and repair tubular leak at NT1 to enable well to become a gas producer.
Thought that kiliwani north was renamed NT1.
I see TR is back not even an apology bit praise for him but and his board.