Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Unfortunately, always talk of PMO looking to buy more assets, keep cropping up. (whether true or not) TD always got an itchy pocket.
He stated that he wanted to use Zama money to pay down debt, so either he has changed his mind or he is looking to raise more cash with shareholders. Difficult to do both.
Think he should stick to last presentation plan, just keep paying down debt, personally. IMHO
That's it Plebleens, I am watching the ARCM shorts (and others) with interest. The minute, they reduce, the game starts.
The last few days, been swinging a bit, so something going on, like selling into the gains, or buying back when its cheaper. I am no expert, but feel something happening behind the scenes.
Of course, no certainty that they will declare when they start selling after what they have done already, stupid though it would be.
Brent oil hit $66 so pressures on.
And that 8.3m buy, did nothing to SP, actually the SP dropped afterwards....
Just not on a level playing field at the moment yet. Going to be a uncertain 3 months until refinancing done and dusted again, as you never know what these hedge funds are up to, the parasites they are !
Beerbull, As you rightly say, they are trying to create trouble now, similar to the enemy in the last refinancing. All will start to become clearer no doubt, however, I strongly believe PMO and TD has known about their push for this, for a long time and also about their big short.
The fact there is no information apart from the media, does make me a little cautious, as in my books, there is no smoke without fire. It all creates uncertainty which is what the market does not like. Hopefully, once the refinancing is done again, shorters will be off pmo back and it can all move forward in a positive way.
Has anyone got a subscription to the telegraph that can post the full article........link below.
https://www.telegraph.co.uk/business/2019/12/14/lenders-plot-break-up-premier-oil-loans-loom/
Oiluser, is that because we have passed the 6th when they were opening them or have you spoken to someone.
If you have spoken to someone, did they imply good offers or were they vague.
Clearly, this will be a game changer when we find out, especially if they can get the 400k to 500k.
Cheers oiluser.
High Crude Oil Stocks, +0.822M
High Gasoline Stocks, +5.405M
High Distillate Stocks, +4.118M
Well let's see how the market reacts to that.
Dodger, spot on.
As mentioned in previous posts, the replies are just standard responses, they cannot even bothered to reply personally, just copy and paste.
I will bet all my profit in PMO that nothing will happen.....slap on wrists. They will be swamped with similar things as complaints to the FCA in last 12 months must be at historically high numbers. Only saving grace may be the media are aware and as everything in today's society, those that create the most hassle are quickly quietened i.e. the media.
Be interesting to see short position in next day or two.
Food for thought and a conspiracy theory ...if ARCM can hide their build of shorts on the way up
Can they hide closing out on the way down ......
Appreciate doubtful, but the way this share market is, you start looking at all possibilities.
Main point is, ARCM have not changed their position since July 2019 and it shows a slow build up over a year or two, so we will know as soon as they start to disclose the first change in short position. I guess now more transparent to know when it may get a big lift, which think is better now out in open.
Too convenient ! Working in her private office today.
But you notice no-one wants to take on a reply in her absence, which they must have known would happen today, especially after what has happened to TLW.
Anyway, in meantime just got to wade through the waves and try and make some profits in all of it LOL
FCA = Fu**king Con ********s
Who is FCA accountable to?
We are an independent public body funded entirely by the firms we regulate, by charging them fees. We are accountable to the Treasury, which is responsible for the UK's financial system, and to Parliament. Our work and purpose is defined by the Financial Services and Markets Act 2000 (FSMA)
So god help us if they are accountable to parliament and paid by the same people they are trying to prosecute.
Once again, there will be millions of frauds going on as we speak, where people contact the FCA and very few will be dealt with over and above the "template" responses we hear and read.
Without someone measuring their work and like the NHS, fine the FCA for every delayed action, you will be waiting for the pot of gold at the rainbow.
We are simply left in the big wild west to fend for ourselves, against the fraud, scams, banks being emptied and many other "rip offs" going on in the UK. It is no better than Nigeria.
p.s. a colleague of mine had £85,000 taken from his bank account and sent to Hungary...you guessed it, no-one wanted to know, the banks said was not their fault, police did not want to know...... no-one wanted to try and locate the end bank account. £85k still lost in the wilderness. We are on our own my friends !
I guess the size of the debt versus revised free cash flow is what has crucified TLW, which puts a warning that PMO must continue to pay down debt and avoid buying assets which can quickly go against you, should production drop for any reason. Glad we did not go ahead on the chevron deal.
The debt brings its own set of problems with the lenders as we can see. If we hedge oil prices well for 3 to 5 years, we will have almost paid debt off and leave us in great financial position.
Yes, standard BS replies from FCA. Basically now they have replied and said they will investigate, they basically telling you to get lost and leave them to get on with it and they will do whatever they think is best.
In a year or so you may hear a little whisper that something has happened and as it is a first offence and they think it was a genuine mistake they have given them a slap on the wrist. Makes you laugh, these clowns are investigating such serious crime and fraud, as that's what it is. Taking money by unscrupulous methods.
Beerbull, spot on !
Shame for TLW, no-one expects to lose that much.
Also shows why you have to go with your gut and not what is said on forums, even if you think against the trend.
Clearly, once again, people knew the situation before today, hence it never recovered.
Also shows what can happen with a downgrade of production and effect on a SP.
Looks like that has had some effect on oilies today.
Cheers betrayed and furry coat.
Actually personally I think this is positive as now we know the greatest impact on this share and reasons. PMO will have learnt a quite a bit from last refinancing and the mistakes. I can't see much happening before Zama sale anyway, only curve from very positive fundamentals, is will they try and do a raise to reduce debt down before refinancing agreed next year, to get lower interest rates, lower debt and work with the lenders to keep them happy, although from last time, think TD would do as only last resort.
From where this was 5 years ago, this should be worth minimum £1.20 to £1.50 of anyone's money. In my own humble opinion for what it's worth.
I would not trust the market any more than the PMO board, who just tell you what you want to hear.
No one can tell me they did not know about this big short, they did they just did not want to let everyone know about it.
If you look at the Sunday Times article in January 14th re pmo buying an asset,
The newspaper said the explorer pmo intends to fund the deal through a rights issue or a share placing. The company also is considering selling all or part of its Latin American business to help pay for the deal.
Well we only found this out through the newspaper article not from pmo. You will see there is never any smoke without fire.
We now know Zama for sale as per article, and now know from other lenders many have been pushing for a rights issue, once again both accounts are now seemingly true.
PMO released a vague statement saying they neither accept or deny the article, including they were going to do a rights issue.
In summary, you can't believe anything out there, all are making money anyway they can and no-one can discount a rights issue for PMO to raise extra funds, for whatever purpose.
Saying all that, the future looks rosy for PMO, now we know how substantially this has been held back. Once these parasites are off pmo back, it should fly like an eagle, but just trust your own instincts.
Good luck all.
I and a few others on here have had said for a long time, the shares have been manipulated and the market is corrupt as a ten Bob bit. You will never solve the puzzle, as like the government, always excuses and reasons why it happened and why nobody knew about it.
Nothing will get done and if it does, they will be slapped with a few quid fine, well below their potential gains.
In the UK crime and fraud pays.
Where do you find in a so called ethical world, can someone legally try and force a company and staff out of business so they can be rewarded.
Some other countries have banned shorting, they have ethics.
Hope all these parasites get their deserves but unfortunately they won't, look at G.Sachs, a little slap on the wrist.
Post 2 coming next
Cheers Beerbull, you did say keep patient and have made some good money in last week, so cannot complain.
Took a few quid of my profits off the table and treading with a little caution until Zama sale. Mainly that a little tweet from Trump can change things quickly i.e. trade deal or otherwise.
In a good place so far though and the best is still to come.
Actually knowing ARCM have a 16% short, is actually a positive to me, as now you can keep a good eye on the enemy within. LOL
Well done all LTH this week.
The FCA have as much authority to fight this corrupt market as the street warden asking you to pick up the litter.
90% get away with it totally, 9% get caught but get off with a slap and the remaining 1% gets done and justifies their worthless existence.
Good to see the guys at Tullow, get some uplift today, been a torrid time lately for them.
As I have been saying for a long while on here, the share market is extremely corrupt and pi's are just fodder in it all. Large institutions take from the poor and make the rich, richer.
I very much doubt, ARCM thought their secret would be out, having kept it quiet for so long. Maybe G.Sachs or ARCM are under investigation and someone thought to release the figures before they were caught out, either way, they look to be suddenly, very exposed and now the chess game begins and does the top feeder now become the prey.
They have approx 3 months to close before the share should have a good re-rate, with Zama, Alaska etc....
If the company was going to raise shares, (only an if) would you not wait for ARCM to close first, raising the price of the SP, so you get more capital per share ?
Lots of twists and turns with PMO, but I really hope ARCM lose a load of "dosh" and that now PMO know they were putting undue downward pressure on the SP, they take no prisoners with them in the refinancing deal.
Another good day...... more to come......