Pantheon Resources Share Discussion Threads

[kaos3] 31/3/2023 09:30

going back once again why not continuing testing alkaid 2

1. testing would provide more of certain info and above all cash - 500 bopd * 150 days * 80 USD equals 6 million dollars to get perspective - reduced for the gas etc... but huge regarding their present cash position

2. non testing could provide other tech info that can not be obtained while test production
3. are they afraid of further test production results is also what springs to my mind
4. maybe they are very moral and above simple cash ... and are environmentally aware

just strange to let that potential revenue lapse... so what is the real tech/ fin / responsible reason

[probabilityofsuccess] 31/3/2023 09:25

Lol sandcrab2 😉

[sandcrab2] 31/3/2023 09:23

Careful and prudent warning of the cash position by Pro

[forwood] 31/3/2023 09:21

No guarantee that they will raise money via equity. Cash position is better than expected, and the next operational event is likely to cost around $3.5m, so probably doable within current resources. A success there increases the likelihood of a farm out. There has been no major selling by the bondholders, as predicted. They are supportive of management, so holding on to their shares for better days, which are increasingly likely in my view. I thought the interim report was upbeat and indicative of a team determined to get the message out there. Shorts should be increasingly uncomfortable with their position.

[echoridge] 31/3/2023 09:06

small quantum-excess demand/no discount-solid aftermarket-no tears. What 'terms of the money' are you f-ing talking about?

[hpcg] 31/3/2023 09:01

PoS - ha, yes you are correct, I should have written long odds.

Michaelsadvfn - I completely agree that the company will be able to raise funds one way or another. It always has before and I don't see anything stopping that for the foreseeable. It is the terms of the money on which money is raised that will be disconcerting for existing equity.

[echoridge] 31/3/2023 08:51

Maybe because we have geniuses like you to remind us. To remind you: the drill wasn't even properly underway when jay and justin sold a tiny portion of their holdings. Oh, and the latter has had a career at PANR of being paid less than a junior accountant - ie., way below industry standard - before he made his first and only sale during one of the few windows, and before ANY drill information would have been known, available to him. putz

[johnswan193] 31/3/2023 08:34

Long list of reasons for the poor share price yet interestingly none of them mention their share sale at 125p.

[echoridge] 31/3/2023 08:22

Don't be short....

[kaos3] 31/3/2023 08:20

can one explain why not going on testing alkaid 2 and earning cash meanwhile...

i do not get it so please ...

[helpfull] 31/3/2023 08:16

Cor blimey, guv!

"Can you explain why the cash situation is a major problem?"

Are you serious?

Any housewife will tell you. When you have a £10 shopping list and only 10p in your purse, then there is a major cash problem. Especially if there is debt on the card.

Ignore it if you like and buy some shares.

In a few weeks you will have a cash problem.

Simples.

Be careful.

[pro_s2009] 31/3/2023 08:14

Notice they dont talk about unrestricted cash..........just "cash".

Of course.........you have to pay your bills......and "payables" looks to be about 6 million.

So if you take cash of 10m and then deduct payables of 6m it leaves what, 4m of free cash...... unrestricted ?

Thats my take on a quick glance at the itnerims, but perhaps I am wrong ??!!

Did they not need 5m to do Alkaid SMD test.......Mmmmmmmmmmm

Can see why they must do something before end of June aka in the 1st half of 2023.

[michaelsadvfn] 31/3/2023 08:08

Can you explain why the cash situation is a major problem?

No, you can’t.

More social media nonsense.

[probabilityofsuccess] 31/3/2023 08:08

low odds mean high likelihood

[helpfull] 31/3/2023 08:04

Cor blimey, guv!

"More cash than market and you were thinking"

Not at all. Keep highlighting the cash situation. It is a major problem. When all bills are paid it will be a lot less than $10 million.

The worst thing management can do now is skimp on the cash raise. They need to go big, even if it makes shareholders eyes water.

Be careful.

[michaelsadvfn] 31/3/2023 07:59

The odds of getting money are not low at all. Pantheon have never had a problem raising funds.

You clearly have no idea.

[hpcg] 31/3/2023 07:51

Data room is still not open:

The Company's data room is anticipated to open shortly to formally commence the process of seeking an appropriate farmout partner.

With a deadline of end H1 to find some form of funding that really doesn't leave much time for a company to examine the data, do its own modelling, make a business case, secure funding, get board approval and negotiate the terms and contract. I accept that LOI would be sufficient for the brief of having secured a partner but that situation would be no drill this year, which the company alludes to by describing it as the 23/24 program. It is badly out of the budget cycle; almost all oil companies work a 31 Dec year end so odds of getting money until 2024 are low IMO.