Pantheon Resources Share Discussion Threads

[john henry] 16/5/2023 14:09

Forwood if you look at their plans imho around £50M is needed

[padamster] 16/5/2023 11:29

Cezuan - I may challenge/criticise and have a sense of humour but I don’t lie

[kaos3] 16/5/2023 10:54

good ... as it is very hard to get cash from the markets

i am in a few miners wth all the permits and proven reserves and high irr etc... and are in the process of getting financed for months... years ... financing just around the corner... also in US...

[forwood] 16/5/2023 10:49

They have had no difficulty raising cash from existing shareholders in the past, and I don't expect them to have any difficulty now, assuming we are going for a relatively small amount c £10m.

[hpcg] 16/5/2023 10:35

Padamaster - succeeding in sounding ignorant by being completely unaware of financial conditions in the world's largest economy. To be fair it very much is a second order problem compared to oil dribbling out the ground at a rate that a man with a bucket could keep up with, but nevertheless it will be an unpleasant surprise when the raise is done at a level that will make holders considerably less wealthy overnight.

[padamster] 16/5/2023 10:30

Hpcg also trying to sound intellectual by googling 😂

[hpcg] 16/5/2023 10:27

Padamaster - Here is a chart from the St Louis Fed. It shows the spread of CCC rated vs investment grade:



This shows over 10% for the last 12 months. Risk free rate is now 5% so leveraged buyout debt would be looking at and 18%-20% coupon which of course in inconceivable for a no revenue company. That's if they could get money at any price with the regional banking crisis tightening conditions in addition to Fed tightening. Everyone that needs to borrow is going to find it tough and expensive.

I'm not sure why you mentioned a secondary listing when my reply was explicitly about the concept of a bid to take the company private, and additional listings are the opposite of that, but whatever. As you did here is the IPO data for the US for 2023, running 44% below last year:



The potential to raise cash that way looks pretty grim to me, especially for small oil explorers.

Making Pantheon shares available over the counter in the US makes near enough no difference to liquidity and doesn't raise any money for the company

[padamster] 16/5/2023 09:56

Cezuan - trying to sound intellectual 😂😂

[cezuan] 16/5/2023 09:46

8$ is assuming the geology works out. the working theory leaves that possibility, but it is as open to not work out as any oil exploration model (arguably more so, given all the recent issues). hence the lower end is not 8$, but 0, and as we "know" how many explorations fail, all having a descriptive model that assumes otherwise, one should always use probabilistic terminology.
"oip" by itself is not a stranded resource that sells for any amount (nor are "contingent resources"). Only ones that have a high chance of being very commercial or are shown to be very commercial are.

A lot of casual investors read statements like yours and then repeat "they have the oil, surely someone will get it out, it's worth 100s of millions, or?". They are unprepared that this might not be the case.

[padamster] 16/5/2023 09:41

When this flys there is no stopping it. So looking forward to the massive re-rate when it arrives, which it will.

[sirmark] 16/5/2023 09:39

Exactly Michael, they have kept their recovery numbers to JUST 10% recovery which is totally at odds of other producers on the slope but just adds to the investment case here.

MM's currently on 19.21p

[michaelsadvfn] 16/5/2023 09:33

cezuan, $8 was mentioned as the lower end, upper end $10-11.

It’s a perfectly reasonable valuation given stranded resources sold for $3.10 when oil was $40/bbl and where $billions have to be invested to get it to market. Pantheon have no such issues with Alkaid next to the Dalton highway. There’s also a ton of upside to the 76.5mmboe given the mere 10% recovery factor. PANR don’t over-egg, on the contrary, they are ultra-conservative with their numbers.

[cezuan] 16/5/2023 09:25

I never said it was uncommercial. I said that the accumulated errors over the winter season demonstrated that the geological assessment was not as clear and as given as one might have thought. Along with the worse data.
Many here seem to misunderstand the difference between oil in the ground and proven reserves that bring millions of revenue. The 2 are not the same.
And you definitely!! should not say "Alkaid is worth 500m".

[mlf51] 16/5/2023 09:17

How do you lot known it's not commercial, time will tell.

[cezuan] 16/5/2023 09:15

@michael how do you know whether it's commercial to a degree of 8$/bbl? that you hope it is doesn't make it so.

[sirmark] 16/5/2023 08:58

A gift from the heavens :) If someone said you could have pantheon shares when this was £1.50 for 18p today you would have ripped them limb from limb.... Especially if you knew the geology better than then, proved oil flow from the reserve, and have a much better understanding of the whole play ....!!! For me the best buy on the aim markets at the moment.Aimo

[thebull8] 16/5/2023 08:50

I said all the constructed stuff I needed to say months ago when the share price was 80p plus Now is time to gloat :-)

[sirmark] 16/5/2023 08:49

Just got this little bit. Showing as a sell should have got them first thing :(08:48:16 18.1065 32,481 5,881 O