I have been in and out of PSA a number of times over the last 20 years and I believe ( don't listen to me I have no idea what I am doing) it could well be all over for PSA if they can't get production going in the next 6 months. They will either
1. have to sell Hummer to continue to fund Yemen. This will mean they only have one non-producing asset in a war torn country with no end in sight.
2. Abandon Yemen and get rid of all staff and costs. Then just left with Hummer.
3. A very heavy dilution if they raise more cash. No-one will fall for the rights issue thing again.
4. More convertible notes which would kill existing shareholders.
PSA Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
