Spuddy
13 Jul 2016
In April 2016 Blackrock held 3.4 percent BlackRock cuts stake in new blow for Providence
It reduced its stake in Providence Resources, led by Tony O’Reilly junior, to 3.4 per cent
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Spuddy
05 Jul 2016
Hello Sharemate. I Will take up offer And over subscribe plus bought additional shares in Market last week. No idea what is Going on behind closed doors but Believe The fact that they were able to raise money And that Melody Took part payment And Cenkos full payment in shares must be a good sign. My breakeven is about 50 cents for entire investment. Last throw of dice !!!
Spuddy
05 Jul 2016
Hello Phonner Open offer closes tomorrow
Spuddy
05 Jul 2016
Hello Sobeit I Would think presentation is just to ensure open offer gets taken up !!
Spuddy
28 Jun 2016
Mamms: I imagine Cenkos got its 6 million in fees for organizing placement. This Would include underwritting issue I hope. Surely nobody Would leave 68 m dollars worth of currency nacked without a forward swap over a volite brexit vote period
Spuddy
28 Jun 2016
Swap rate 1.266 sterling to euro
Spuddy
28 Jun 2016
Hello Mamms: Of course It is possible that funding could be pulled. However It is Very unlikely that a swaption or a forward currency swap was not put in place prior to Brexit. This is The normal Course of action when You Have currency risk over a volatile And uncertain time period. If they Have not done this they Are complete fools And Cenkos a complete joke if advice on this course of action not given by them. I suspect a swap or An option in place at -./66. I hope I am not wrong !!!
Spuddy
27 Jun 2016
Funding Hello Haribo. The funds Will be held in a custodian account pending the EGM. I am sure they Have all ready purchased a forward currency swap. Believe the rate is 12p/15.2 cents i.e 1.266. At the time of announcement the market rate was 1.300 so the only reason for taking a worse rate Would be a forward currency swap or An option for protection
Spuddy
26 Jun 2016
Hedge: Mamms would say did a Sterling Euro Swap at 1.2666 i.e The placement terms 12 p to 15.2 cents. The Market rate at the time of the announcement was 1.300. So obviously with comission For a forward swap came in at 1.2666. So We Would be protected from currency volatility
Spuddy
24 Jun 2016
Hello Mamms: Sent an email to Providence this morning asking them if they have hedged with a forward Sterling Dollar or Sterling Euro Swap prior to this Brexit vote. I presume they have. Having worked myself in this it would be very strange and negligent if something was not arranged.
Spuddy
22 Jun 2016
Hello Sharemate: Think market is moving in our favor. PVR has screwed Its small shareholders no doubt. But We will Get nowhere complaining. My average is about 55 cents now. Believe this year We will Get good news on Barryroe as Well. Big IIs obviously seeing something We are not. My advice is to average down. I bought some today at 12.5 and Will be in for placement. Also in LOGP, amryt pharma. Hopefully a Deal on Barryroe Will allow me to Get out of LOGP and reinvest in Amryt and Immupharma
Spuddy
22 Jun 2016
Placement: Phonner Don't believe We will hear anything on Barryroe for a while. September Maybe. It Would not look Well having handed out shares to the insiders accompanied By a Deal on Barryroe. Believe It is comming but a few months away. I also Have some shares in LOGP. So hoping for a Deal
Spuddy
22 Jun 2016
Hello Shadow / Phonner I bought some shares today and Will also take up placement. Not happy with things but We are where We are. Believe a Deal on Barryroe is much closer Than People think. There is no way that 70m dollars was given to TOR and co to Pay Off debt and drill a Well out in the atlantic. LOGP also got 2m with no other asset apart from Barryroe. Who Would Have handed over 2m to LOGP to Pay Off Transocean without something on Barryroe in the offing. Cenkos Took all there fees in shares. Do You think Cenkos Would put circa 7m dollars on a roulette wheel drill in the Atlantic. Then We Have Melody and all the IIs. They cannot all be fools. My advice Would be to stop your dilution as far as possible. However You Have to weigh up the risks
Spuddy
20 Jun 2016
UPDATE: Surely with LOGP about to come out of suspension on Wednesday morning Providence will have to make a statement Today, Tomorrow or Wednesday morning !!!!!
Spuddy
17 Jun 2016
LOGP: Out of share suspension on June 22. With Barryroe being the only real asset Lsndsdowne has Surely We will Have to hear something from Providence early next week !!!
