Petrel Resources Share Discussion Threads

[kdickson] 22/6/2024 00:33

IJBOL!
You on the night shift maxk? And it's a capital 'D' by the way ;)

[kdickson] 21/6/2024 22:16

Taxi, why is it so hard for you to believe that someone might 'dare' to post thoughts on a public forum?
Its a Friday night. Chillllll :)

[taxibabe1] 21/6/2024 21:14

Time strand hanson ended this sham

[taxibabe1] 21/6/2024 21:12

Cant believe your still posting on this board- shame on you

[kdickson] 21/6/2024 15:50

...unless of course the company have actually confirmed certain statements are true currently ;)

[slim pickings] 21/6/2024 14:57

They're playing with words - statements are true as at 31/12, so 6 months out of date but 'true' as at that time.

[fenners66] 21/6/2024 14:42

Bigbudda on the gamblers thread mentioned huge losses....

"Under CTA10S45, where a company incurs a loss in a trade, that loss can be carried forward and allowed against subsequent income from the same trade."

[fenners66] 21/6/2024 14:19

Not missing anything bracke - but most of the liabilities are accrued directors remuneration and they have said they will not request it for a year or until the company has money to pay it....

So they accrue £90k a year for doing......

and of course all expenses paid..
and expenses shared with other group companies so they, a la CLON, can pay the massively inflated salaries instead...

[bracke] 21/6/2024 14:11

'"The Group had a cash balance of €35,667 (2022: €166,309) at the balance sheet date.'
====================================================================================

'and had net current liabilities of €973,503'
==============================================


Is that a shortfall of Euro 937,836 or am I missing something?

[palwing32] 21/6/2024 11:26

Makes you wonder how the heck they have gotten away with it for so long?

[palwing32] 21/6/2024 11:24

ROFL....Jeez!

[bigbudda] 21/6/2024 08:42

Yes with 24 Million of accrued losses this is a tax offset for a reverse takeover so that alone should should value share price a multibagger from these levels as less than 200 million of shares in circulation also i do believe the work we did on Merjan must be of some value to sell to the Chineese also we can sell our 30% interest in Ghana to Clon or can they still pull something out of the hat i dont think we have anyone working our cause out there anymore questions need answering at the AGM Jam tomorrow days are over or should Clon and Pet Merge into 1 company they never should have been seperate companies just a way od directors getting more salaries

[kdickson] 21/6/2024 08:41

Had confirmation that yesterday's statement did not contain any leftover 'copy and paste' info. All points are current. Make of that what you will.

Note also that "direct negotiations" is mentioned twice.

Another interesting phrase I note is "evolving Ministry guidelines".

[fenners66] 21/6/2024 08:33

The Alliance news headline from yesterday

"Petrel Resources shares plummet as loss widens in 2023
Petrel Resources PLC on Thursday reported a loss with the company incurring a notable impairment."

Err that will be because of the facts then.......

[theshareguru2] 21/6/2024 08:07

Petrel could do with a revers takeover of private company.not many companies have so few shares in existence.

[goggin] 20/6/2024 18:28

£957435 owed for doing exactly what? Some hard questions at the agm needed like What exactly is the point of PET and what are the realistic expectations over the next 3 years?

[goggin] 20/6/2024 18:17

It's the same story line repeatedly - called cut & paste :-(

[the diddymen] 20/6/2024 18:16

So a bit of cash raising will be imminent:

"The Group had a cash balance of €35,667 (2022: €166,309) at the balance sheet date. The directors have prepared cashflow projections for a period of at least twelve months from the date of approval of these financial statements which indicate that additional finance will be required to fund working capital requirements and develop existing projects. As the Group is not revenue or cash generating it relies on raising capital from the public market."

As ever with this crowd a close look will need to be taken when they publish the full accounts.

[fenners66] 20/6/2024 16:47

And back down to just about all time lows again .... how many got suckered in this time?

And the other thread's resident anal-yst , has nothing to say about...
the actual Accounts , you know the "factual" stuff...

[rescuer] 20/6/2024 14:51

3. GOING CONCERN

The Group incurred a loss for the financial year of €491,086 (2022: loss of €310,813) and had net current liabilities of €973,503 (2022: €689,811) at the balance sheet date. These conditions as well as those noted below, represent a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern

[fenners66] 20/6/2024 12:48

Written off 20% of Ghana intangible asset as did CLON.
They mention this in relation to 2018, but the situation has seen
no moves forward since around 10 years earlier - 2008.

As if 6 years is not bad enough !

No movement , how long does inaction and no prospect of immediate
success and therefore realisation of some actual value , need before
the decision is made to write it ALL off ?

But of course , writing all the Ghana intangibles off would lead to a
hole in the already suffering balance sheets.

[fenners66] 20/6/2024 12:33

Nah, Platinum mining on an asteroid ...

[apfindley] 20/6/2024 12:21

Wait for the spike when they catchup and announce they're making copper lined covid masks on a clean energy farm which will also power bitcoin mining.Lol