George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
At the rate of decline, and given that the BoD don't feel the need to update the market, I'll assume this is just going to fall day on day through shorts and RI selling up.
Why load up now when you can do so the week before update when the SP is likely to be a fraction of what it is today unless shorts begin to reduce massively? Genuine question and I'm a LTH, not a basher!
Very odd...I asked the same question: "Has petrofac defaulted on any of it's loan covenants recently"
This was BARD AI response:
As of the latest data available on Petrofac's financial statements (for the six months ended 30 June 2023), the company was in compliance with both of its loan covenants – leverage (net debt to EBITDA) and interest cover (EBITDA to net interest). This means that the company is meeting its obligations to its lenders and is not at risk of defaulting on its loans.
However, it is important to note that financial conditions can change quickly, and Petrofac may be at risk of breaching its loan covenants in the future if its financial performance deteriorates. The company is exposed to a number of risks, including the volatility of the oil and gas market, project delays and cost overruns, and legal and regulatory challenges.
In the event that Petrofac does breach its loan covenants, it would likely have to renegotiate its loan terms with its lenders. This could involve extending the maturity of its loans, reducing the amount of debt it owes, or paying a higher interest rate. In the worst-case scenario, Petrofac could be forced to file for bankruptcy.
Overall, Petrofac's debt position is manageable, but it is important to monitor the company's financial performance closely. If Petrofac's financial performance deteriorates, it could be at risk of breaching its loan covenants and facing serious financial consequences.
7.33%.
https://uk.advfn.com/toplists/free/most_increased_short
Apologies if posted earlier.
Dear XXX
Thank you for your email.
As I’m sure you can appreciate, I cannot speculate on the drivers of the share price movements we have seen in recent days and weeks, but I do understand the frustration this volatility creates for our stakeholders.
Please be assured that Petrofac takes its market reporting obligations very seriously. We have a scheduled trading update for the 20th December 2023, where we will provide an update to all shareholders on the Group’s performance. In the meantime, our Group continues to be committed to keeping the market informed, via the Regulatory News Service, of any updates, as appropriate.
Thank you for your understanding.
Best,
James