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Thanks for the info PaulJ82520, on that basis we should be trading over 10p easy come start of trading on the TSXV.
Fingers crossed.
Someone picked up just short of a million shares at 5.28. Someone is very confident!
Also explains all the selling later above 42p. A number of people new of these plans weeks ago. Leaky Leaky.
because there is no guarantee that you will be lucky to sell your shares in the auction at 42p.
This is being stolen from us!!
must be a positive for the Minto listing. I can see a big premium on launch day.
I have been thinking about the share price and company valuation over the pas few days and what has struck me, is not so much the cash pile that we are accumulating at a fast rate of knots, but the value of what is left if you strip this out.
We know from this weeks statement that we have over $50m in the coffers and that at current gas prices we must be bringing in about $10m a month. We are now half way through October so lets say we have $60m in the bank. This is equates to about £44m. At 51p we are valued at £90m but £44m of this is already in the bank so the business is actually only valued, from a trading point of view, at £46m!!!! For a business with quarterly cash generation of $15-£30m this is just plain ridiculous. Even at $15m a quarter, which would mean gas prices much less than they are now, we cover this £46m in cash generation in less than 12 months.
I will just leave that for people to ponder.
I now have a large holding here which I have accumulated over the last few weeks and this is probably the most optimistic I have been over a company in 20 years of investing!
Unless this is a Langbar, some of you may know what I mean by that reference, I can't see a downside.
Its a rollover and you guys know it. Please don't mislead people.
Interactive Investor
You need to get yourself a new broker, I can buy 750K online.
at $5.59.
For god sake these are warrants!! Worth nothing until they are exercised. They are NOT free shares.
If the price hit 50p they would make £1.1m and the company would received £810,000 from Cenkos for exercising the warrants.
People need to do a bit more research here.
These are warrants not shares. If the price goes to 25p they make 3p per warrant which is 3.9m X 3p =118,000.
They will have to exercise the warrants before they can sell them and the company will receive 22p for each warrant exercised.
What I like about the Minto IPO is not only that we can put a more accurate value on our investment but also that we will have the ability to sell some or part of our stake on the open market.
We might hear next week more details of pricing and timetables, if not next week then very soon.
to the sellers who have enabled me to pick up an other couple of 25K clips at just below 7. I really can't understand why people are selling any of these at the moment when tansformational news is only days/weeks away.
This is getting very cheap against NAV now. It has to turn around shortly, hasn't it?
NicetoMichu if Ed and crew start buying as well we will see quite a scramble for shares which could put an almighty squeeze on things.
The statement "all Directors standing for re-appointment continue to perform
effectively and demonstrate commitment to their role" is laughable!
We need to buy as many as we can here and vote these idiots out. I have been accumulating since last week and will be buying more.
Now we can see proper value being realised for PERE shareholders. This news should get us back to double digits.
Florence are you suggesting the NAV now is much greater than 17.1p? My calculations has the NAV in the 20s currently and we still have near terms news that might increase that.