I would not be giving PAC credit for anything to do with SP3
They have not tweeted about it, released any retail research or anything
I think you'll find the massive overhang is now finished. The Woodford family had around 3.5M across 3 accounts. I heard a small fund/holding was forced to liquidate, so this could have been that holding. As at last week, they only had around 300K left, so they should be out now
I have also heard there is a new lead broker on the way ...
I'd say this rally has to do with their recent update, which IMO was excellent !
- Predicting revs of $4.7M, an 81% increase. Each time they have beaten their revenue forecasts within the 1H of the fin year - They've flagged a debt facility with a Top 4 bank, meaning no death spiral financing or dilutive CR, likely 8-10% interest rate - New MD from Worsley Parsons, will bring huge connections in the O&G and infrastructure space - Expect to be CF+ in the next quarter or so - Lowest quarterly burn to date of just $190K - The biggest hint, they've sent product to texas for a US market trial ... my guess, an O&G site owned/managed by WOR
They secure a new lead broker, a debt facility and start touting US expansion, this thing will fly past that previous high that quickly
