Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
i wonder if ARCM need to clear their short exposure now as part of that deal to relsease them - could spike the SP massively ?
Ok shares open PMO - up 20%
Guess many will bail -
Me tooooo - a lot also - i am guessing existing shares in PMO will be converted to shares in the new company at value to be determined by the apportionment of shares in PMO to the new company around 5% - wonder how long it will take ?
Looks like shares suspended - no open for PMO -
SK, you still in ?
Not really sure what the order of play will be today re the SP - suspension or traded until shareholder approval ? What happens if we just sit tight and hold the shares, they will presumably get converted into the new entity at par value ? Ummm not sure on reverse takeover, anyone ???
Not quite what you said Happy - i think you were spouting PMO would never merge or get bought out by anyone and this is not what you said - regardless you will spin it your way to prove you were right when you were wrong
Weir Group just sold their Oil & Gas division to Caterpillar for 400+ million. https://www.energyvoice.com/oilandgas/269386/weir-to-sell-oil-gas-division-caterpillar/
Buyers are looking to hoover up such assets cheaply and PMO is no exception with solid production and assets.
Its a matter of survival Antigua18 - Tony has run us into the ground unfortunately and this depressed marekt is unlikely to change any time soon.
As i said before, no smoke without fire and when C were mentioend as an alternative i see this as a more positive and quite likely - the debt is crippling for PMO but for a buyer its an advantage and the tax credits are also a nice sweatener.
I have kept buying weekly and propose to add more this week - its a gamble (but then everything is on the stock market frankly) but the next couple of weeks shoudl start to see more news leaking in the equation and some spikes up and down
GLA
Yep Mrd, i was luckily able to pick some up at 14.97 & 14.975
Hope i am backing the right horse - was getting a bit worried when it dropped 7+% and starting seeing 13's on L2 but been some solid buying all morning - it definitely seems to like this 15-17p range
Same Bobster - got some in 14's so brought my average down nicely - sat on way too many for my own comfort now - but hey ho
Kraken, i think you will agree with me now that Tony is really not the best guy for this job :)
He reminds me of a snail, he is damn slow at reactiing to anything and scared as hell to poke his head out when needed and say something and he consstantly leaves a trail of destruction and slime behind him :)
Not good short term for equities - lets see - just what Oil didnt want at this time
Give it a rest children
While you been arguing i been buying a few more :)
Its clear and positive
No Bankruptcy, no end of the road, simply kicking the can to achieve the best deal - make no mistake, a deal will be done, its just a question of how that deal will look like. This will NOT go bust !
Read between the lines (this is the way Tony works), he emphasises 'other options' which usually means those options are probably going to come to fruition. With debt refinanced it starts to look attractive and the tax credits speak volumes, so IMO, a takeover or partnership is very likely. SP is holding at this 15-16 level, a very attractive price -
Dont listen to the doomslayers, they are looking for a lower entry point - i dont think you will see this lower than 15 and when a deal is announced, well . . . .
Looking at shares sold today - we know Dr R (whockindly advised below) sold 100k, then there was another sell for 100k and 2 small buys of 11,500 and 15,000 respectively.
Hardly a mass exodus :)
Good call Dr R - reduce exposure to something your comfortable with and hold for the pay day (whenever that might be)
GLA
Good luck Longlad - totally understand and hope all goes the way you want it.
Just got to remember these are AIM for a reason - today 5p, tomorrow £1.50
Sooty - i agree its a mess but they are pretty well set up (even with low cash deposits) to survive as is for quite a while. Kicking the can down the road so to speak.
I have been invested here for years and made a truck load when the Environmental permit was granted a year or so ago. I bought back in cheaply and have been averaging down - i hold a chunk now, with average under 7 and happy to sit and to wait for that 10-15p buy out - that would do nicely thanks.
Yes COVID impacts everything - but the world still needs Iron Ore and such high grade deposits are in short supply. Life will go on, China's plans will continue regardless and sooner or later this will get snapped up at what will be a huge discount to before
All IMO