JPR 0.00% 2.5¢ jupiter energy limited

It was no turnaround. The company still is cash negative before...

  1. 151 Posts.
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    It was no turnaround. The company still is cash negative before new debt financing.
    It was all non-cash impact of AUD-USD exchange rate variation (from 1.45 to 1.30).
    Company has USD denominated debt (matching currency of asset pricing).
    FY2020 loss was due to write down of assets. Also non-cash, but based on licence contracts and $60 long term oil price, an estimate of ability to recover past cash spending.
    In the meanwhile, you have a balance sheet with A$19.4mn of assets and A$82.4mn of debt. (so yes, net equity is negative by A$64.8mn.)

    Meanwhile, as they search for funds to build the production infrastructure (including 100% gas utilization) without which production will only be a rounding error ... Debt with 15% interest rates (yes, really 15%) means that ordinary equity holders will never see a return.
    Control shareholders own 66.57% of the equity ... market cap A$7.3mn
    They also control the debt A$82.4mn
    So what are the chances for a small punter to win?
    Not even the CEO owns shares anymore.
 
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