PhosCan Chemical Corp PCCLF

HALTED !!!!!!!!!

[TimeBuilder]

?

[oceaneleven]

decent news.........thoughts Timmy???

[ILoveTimmies]

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[humblebay]

i would love to see more detail information about Ptrus but generally speaking it's a very good news to the phosecan shareholders. if you add the implied value of its phosphate project, the phoscan shares should be trading something around 35 to 40 cents.

[ILoveTimmies]

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[matisse2003]

Petrus is private but all info is on their website  https://www.petrusresources.com/directors.php  The key player is Don Gray---   Read Peyto Energy Trust

[lscfa]

They never discuss the tax shields that change hands in these types of arrangements. Looks like FOS is getting paid very little for its $11.5 million in tax loss carryforwards and $36.2 million in exploration expenditures.

[ILoveTimmies]

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[ILoveTimmies]

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[matisse2003]

Why would the insiders participate in the $30 million raise and then sell at a loss particularly when they have $81 million to invest in this market????

[ILoveTimmies]

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[matisse2003]

Point taken.  Those numbers may change.  I expect that we will receive more up to date info as part of the process and Stephen White must have seen them to do this deal.  Those numbers were from June 30---  debt could be even higher now.   Still these are very strong players financially and in terms of their past performance.  On a go forward basis they should be able

[briliantpebbles]

insiders are buying stock at $7.40. $8m worth. that means they like the prospects. this is great for long term holders. I would not worry about selling.I think the probem is some holders fon don't want to own an enrgy company. even one run by a legend.

[matisse2003]

Probably closer to 15%   7 out of 46 million shares---  don't forget Petrus has to raise $30 million as part of their contribution which means they will have $81 million in an opportunistic market.  Take a hard look at the Petrus players---  they are some of the best in the oil patch

[mercedesman]

So far, it seems to me, long time shareholders have not been rewarded much if at all? Does the market need more time to digest this complex deal? I hope so. So far I might have been happier with a $50m dividend payout to existing shareholders. Nice to see that the cash won't remain idle for long, but it looks as if we have not monetized any value on Martison to speak of. Rather the cash has

[ILoveTimmies]

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[humblebay]

the market reaction indicating everything. market doesn't like the deal. too much uncertaities. the good side is we know the are doing things and not letting cash sit idling. Don Gray seems to be a good name that people would entrust their money with. Still we need more transparency and a public company would be better than the private one.

[ILoveTimmies]

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[matisse2003]

One of the conditions is the approval of the TSX for the new listing---  It is very clear that there will be a listing.   I have been reading the financial info on the Petrus website.  Seems like they have made quick and decisive cost decisions in light of mkt conditions--  just as was done with Peyto.  Could Peyto acquire the new entity?????  Or someone else???

[ILoveTimmies]

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[Maxmoe]

Maybe it's about keeping or creating jobs? I'm thinking I'd rather pick my own nat gas producer. There are hundreds selling at big 30 % plus discounts to nav. Not some airy fairy implied value. Give me all the cash and I can go buy a basket of them and still own the fert co. Any guesses on the millions to be burned on lawyers and Bay Street advisors? About only positive is it beats the

[ILoveTimmies]

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[matisse2003]

I agree.  The more I look at this it is a good deal with great players which I guess is better than a great deal with lousy players.  Given the particpants expecially Nat Gas Partners I think that you can believe the financials on the website as if they are public filings.

[drd8]

what a boning. don gray is also chairman of gear energy (a disaster) in may you could have participated in petrus' $3.25 hard dollar offering and $3.90 flow through offering. Since May the oil market has tanked and your buying Petrus @ $7.25 (more than double!!!!) What an absolute smaooke show.

[matisse2003]

 Fos has to go to 33.5 plus or it will be cheaper for an investor to buy Fos than to take place in the private placement so take your loss Maxmoe.  It will be someone else's gain

[briliantpebbles]

wrong. not how it works. the participants in the PP have too much liquidity to use fos shares as an alternative. 

[matisse2003]

Brilliantpebbles---  we must be reading different releases.  The release I read said that the insiders were commited to $16 million worth- not $8 million.  Also as an acredited investor I would not pay 33.5 cents through a private placement if when I can buy all I wanted at 28 cents on the market

[ILoveTimmies]

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[ILoveTimmies]

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[briliantpebbles]

ngp is buying some. so is petrus directors. so is their management. the price appears to be the same price that private placements have been done at since 2011. ground floor opportunity.

[matisse2003]

Hi brilliantpebbles--  how do you calculate that this is the price private placements have been done at?????

[briliantpebbles]

our shares are based on $1.85 price of the offering. the first private placement of petrus was in late 2011 at $2.

[matisse2003]

Okay thank you I understand.  Other capital raises were done at higher prices even as high as $4 so their shareholders are taking quite a rollback???  and the deal is fair if not great for us in your opinion??

[briliantpebbles]

matisse this is a back door way for this company to go public. they needed to be public. they want some liquidity for shares down the road and want flexibility to issue shares to other public companies via acquistion. this was a "darling" back when energy was "hot". it's a good team with some good land positions. the interesting thing is once publicly traded the stock

[foxybagholder]

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[briliantpebbles]

yes small investors could buy stock in fos. but there is risk that this doesn't happen. that's one reason why there is a discount. however there are many inst who want to invest in petrus now that it is going public. that's who the bought deal is for. that's the only way they can invest with certainty. the discount in fos shares is one time where the little guy can do some risk