It is hard for me to validate that bid price tbh Mike. During a bit of background research I did note that OEX themselves bid on the 55% interest back in Dec 16 though, so not sure how that was going to be financed - and maybe indicated to me that the value was not astronomical.
Always good to have your finger on the pulse of the wider macro trends and I must say gas is a good place to be at the moment. I cite this article as a prime example:
I took a small amount here today. Happy to hold until the sale completes. I would say this - I can't see it being a massive valuation else surely someone with the knowledge of the asset would have identified the value here and it wouldn't be trading so low. Despite this I do see more upside than not, as even recovering the costs owed to them in the event GSPC only selling their stake and potential to secure a carry with the buyer should add some value here.
Cloaked figures with disregard for society and human beings. No thoughts given for the pain they inflict, money is the only currency they deal in and they pursue it at all costs. Horrid, insidious people with no morale compass seeking to inflict pain and suffering on companies and investors alike. Should ban it. I heard the argument about it improving the efficiency of financial markets, well I actually strongly disagree. It encourages stocks to trade further away from their fundamentals and relies on sheer manipulation. Most short funds are playing with other people's money but the individual PIs who they prey on are often exposed to the hardship of realities born out of these vicious price moves. We may all disagree on the direction of shares such as Tullow but as PIs we owe each other the decency of treating each other with respect - win or lose, we are all humans.
RE: RNS (plural)- a White Knuckle Ride15 Jan 2020 18:36
Yeah, CEO head needs to roll for what I have seen in the past 2 weeks. Total failure of financial control. Look at the pay packet - I ask you, is this guy really in it for the shareholders? You laughed at me saying it could go under, June balance sheet has about £300k net current assets - so hardly swimming in cash.
Its easier to do a discounted placing than get a debt deal away on such short notice, especially after you just gave away $600k for thin air - hardly going to be breaking down the door to get at it. But ok, lets say you get your debt, at what price and also with what conversion terms? Don't be so quick to snipe, trying to make sure you all do your homework before being burnt.
Before you all jump on this I recommend taking a step back and researching what the the near term cash requirements are here and where exactly that cash is going to be coming from? I will give you a few suggestions, maybe either your pockets via placing or nowhere and no more Lekoil.
The cynic in me says is was Pi money that took it up early doors and II short money that brought it down. On the day of the trading announcement there was also an accelerated drop into close and then a bounce in the morning. Could get the same today but I could not be sure so have no reinvested. A whole lot more cautious about this one since getting burnt
Near term upward catalyst? That update was it...be careful buying this for the bounce which is what I did a few weeks ago - the shorts can take it lower and make you sweat a lot harder than you expect. Is it worth more than this - yes IMO,but is going to be played with for now IMO.
Well there was nothing new in there, but I think I myself expected after they had looked at the production again those declining estimates might have been revised - clearly not...they need new management to get them out of this hole. Hope that this can recover for all those still holding.
I like the sector and took a look at ITM and VLS recently. Was surprised to see such high market cap (circa £500m) considering no real revenue as yet...but considering where the future lies with green tech I think both this and Velocys are worth investing and could do very well this year.