Providence Resources

plasmin · 24-12-2013 9:42am #1

Any view on Providence resources? Share prices have dropped significantly lately. Is it good thing to invest in this company? Cheers

Comordha · 24-12-2013 11:39am

There is another thread already. Call a broker if you want someone to tell you whether to invest or not, or even better go off and do some research yourself. There is obviously a reason for the share price dropping so much and in this instance I think it is that the management team have a poor track record. If investing were as easy as investing in every share where a price drops off a cliff we could all be a Gordon Gekko.

venividi · 24-12-2013 2:31pm

cais wrote: »

Any view on Providence resources? Share prices have dropped significantly lately. Is it good thing to invest in this company? Cheers

Check out iii pvr discussion forum. Confidence is waning on barryroe farm out. Hasn't done well for me. More of a gamble than investment. Lots of upside and lots of downside. Personally won't be buying any more

Captainsatnav · 10-03-2018 3:26pm

Nice little wiggle there last week. Read online forums that seem to think/know there'll be announcements in next few days

ballyharpat · 10-03-2018 6:04pm

Providence is definitely not something that should be allowed in an investment market-Its not an investment, it's a total gamble. So liitle capital that a pump and dump is more likely than an upside for any reason to do with the well being of the company/stock.
any news that i Have ever seen has been released by directors/shareholders.

greenfield21 · 28-03-2018 7:31am

Nice update this morning. Bought some at 9p, hopefully double up.

Cute Hoor · 28-03-2018 8:59am

greenfield21 wrote: »

Nice update this morning. Bought some at 9p, hopefully double up.

Well done, you are up 25%, SELL quickly

Captainsatnav · 28-03-2018 10:47am

Cute Hoor wrote: »

Well done, you are up 25%, SELL quickly

Degiro been stuck on 0.00% change for the last 10 days or so - not showing anything on my portfolio after the announcement...

ballyharpat · 28-03-2018 11:20am

Cute Hoor wrote: »

Well done, you are up 25%, SELL quickly

Up 20% after being up 50% at open, all it takes is 10k to make a massive impact on share price.
A weeks wages would be enough to raise that stock 10% - classic pump and dump stock.- imo. :-D

Cute Hoor · 28-03-2018 11:42am

ballyharpat wrote: »

Up 20% after being up 50% at open, all it takes is 10k to make a massive impact on share price.
A weeks wages would be enough to raise that stock 10% - classic pump and dump stock.- imo. :-D

Would be interesting to see who the seller(s) was/were this morning at 13p and when they bought.

littlevillage · 28-03-2018 1:20pm

Providence is an absolute hoot to invest in. You can make 15-20% in a couple of days if you get lucky ....and likewise lose it.

Its an absolute gamble, even though they have valuable exploration licenses, the company Mgmt are proven to be reckless and the future price for oil is unclear too, so pick your numbers, get in and get out, I wouldn't be buying for the 'long haul' though.

ballyharpat · 28-03-2018 2:32pm

littlevillage wrote: »

Providence is an absolute hoot to invest in. You can make 15-20% in a couple of days if you get lucky ....and likewise lose it.

Its an absolute gamble, even though they have valuable exploration licenses, the company Mgmt are proven to be reckless and the future price for oil is unclear too, so pick your numbers, get in and get out, I wouldn't be buying for the 'long haul' though.

Even if the price of oil was skyrocketing, this stock would not follow suit, the company owns nothing of value.

neris · 28-03-2018 6:54pm

They have some Chinese crowd in drilling one off their fields of cork and the Chinese are providing the equipment

Captainsatnav · 29-03-2018 11:06am

Captainsatnav wrote: »

Degiro been stuck on 0.00% change for the last 10 days or so - not showing anything on my portfolio after the announcement...

Now it's shot up - DeGiro has a 24hr delay on it it seems.

Captainsatnav · 05-04-2018 5:14pm

http://www.proactiveinvestors.co.uk/companies/news/194261/providence-resources-set-for-value-catalysts-asbarryroe-breakthrough-has-fired-starting-pistol-on-a-busy-period-194261.html

Further, less costly and hence less risky drills ahead off West Coast. Analysts in UK putting target of 33p on its London listed shares - currently about 12 cent in Dublin.

Cute Hoor · 05-04-2018 5:26pm

Captainsatnav wrote: »

Analysts in UK putting target of 33p on its London listed shares - currently about 12 cent in Dublin.

Would this be the newly appointed analyst who has a 33p target on Providence
http://www.providenceresources.com/sites/default/files/APPOINTMENT OF MIRABAUD AS JOINT BROKER.pdf

Captainsatnav · 05-04-2018 5:34pm

?? Link clearly says it's the same.

Cute Hoor · 05-04-2018 5:36pm

Captainsatnav wrote: »

?? Link clearly says it's the same.

I would prefer to see a recommendation from a broker with no skin in the game.

greenfield21 · 08-04-2018 9:52pm

Looks like tony is back from China with a spring in his step. Two articles in the sindo, drilling in 2019 at barryroe and also interest in newgrange. Ramping it up hopefully.

Captainsatnav · 09-04-2018 11:39am

greenfield21 wrote: »

Looks like tony is back from China with a spring in his step. Two articles in the sindo, drilling in 2019 at barryroe and also interest in newgrange. Ramping it up hopefully.

I just threw another €200 at them ta f*ck

ballyharpat · 09-04-2018 9:34pm

Captainsatnav wrote: »

I just threw another €200 at them ta f*ck

I hope I don't sound condescending, but what kind of an investment is e200? and to put it into something with the history of providence, where Tony is the only one to ever say anything about the company-good or bad.

Captainsatnav · 09-04-2018 9:56pm

ballyharpat wrote: »

I hope I don't sound condescending, but what kind of an investment is e200? and to put it into something with the history of providence, where Tony is the only one to ever say anything about the company-good or bad.

You do sound condescending but then again that's the 5th or so negative post you've made about PR on this thread. And to answer your question €200 was 1500 shares that I think might double or better by this time next year if newgrange and barryroe work out which is nigh on infinity better than returns in a bank.

ballyharpat · 09-04-2018 10:14pm

Captainsatnav wrote: »

You do sound condescending but then again that's the 5th or so negative post you've made about PR on this thread. And to answer your question €200 was 1500 shares that I think might double or better by this time next year if newgrange and barryroe work out which is nigh on infinity better than returns in a bank.

I’m sorry, I guess I’m a believer in investing, I’ve been in stocks for over 15 years, I’ve made great returns, way way better than the market average, but I’ve been investing in blue chip companies when I started, then I would start taking on riskier stocks, but ones that had a track record or director or product that I believed would make a profit. I would normally no look at the price of share or the company which I could get most shares of.

To each their own, but by the time expenses etc are taken into account, you are not let with a lot.
I would buy prize bonds until I had €2500+, then I would have my research done and buy a solid company.

PR is ultimately a penny stock.

Captainsatnav · 09-04-2018 11:38pm

ballyharpat wrote: »

I’m sorry, I guess I’m a believer in investing, I’ve been in stocks for over 15 years, I’ve made great returns, way way better than the market average, but I’ve been investing in blue chip companies when I started, then I would start taking on riskier stocks, but ones that had a track record or director or product that I believed would make a profit. I would normally no look at the price of share or the company which I could get most shares of.

To each their own, but by the time expenses etc are taken into account, you are not let with a lot.
I would buy prize bonds until I had €2500+, then I would have my research done and buy a solid company.

PR is ultimately a penny stock.

Lovely. Thanks bud

Captainsatnav · 17-04-2018 5:22pm

Goldman Sachs just bought 5% of the shares...

greenfield21 · 17-04-2018 6:31pm

Its up from 4.01%, i wonder how much do pi's own now?

Lash_Alert · 17-04-2018 11:16pm

ballyharpat wrote: »

I’m sorry, I guess I’m a believer in investing, I’ve been in stocks for over 15 years, I’ve made great returns, way way better than the market average, but I’ve been investing in blue chip companies when I started, then I would start taking on riskier stocks, but ones that had a track record or director or product that I believed would make a profit. I would normally no look at the price of share or the company which I could get most shares of.

To each their own, but by the time expenses etc are taken into account, you are not let with a lot.
I would buy prize bonds until I had €2500+, then I would have my research done and buy a solid company.

PR is ultimately a penny stock.

I am embarrassed for you with that post. It's just morto. If you are so good at investing and clearly so knowledgeable, I assume you are posting from your yacth in the Caribbean?

Lash_Alert · 18-04-2018 7:53am

ballyharpat wrote: »

Can I ask why I should be embarrassed with that post?

Can you please point out a self educated investor, that has yachts etc? Lets put it this way, I don't have to work, I go on 3-4 foreign holidays a year, I have a hobby that costs about 8-10k a year, I have multiple properties that are mortgage free. I have 2 cars.

In the last 8 months, I have doubled my money from investing.

But if you can find any reputable, successful investor or trading pattern, that suggests you can make a steady income by investing in penny stocks-I will apologise and be mortified.

If you can't see why you should be embarrassed about that post after reading it then me explaining it won't help. Keep up the good work Warren!

ballyharpat · 18-04-2018 11:10pm

Lash_Alert wrote: »

If you can't see why you should be embarrassed about that post after reading it then me explaining it won't help. Keep up the good work Warren!

Thanks, good luck with your long term hodl/penny stocks etc, in the meantime, I have rent to collect and dividends, oh, one of my blue chip stocks made 4% today, I'll do the math for you, that's 8% of my initial investment.

.......but what do I know, I am obviously not as knowledgable as you :rolleyes:

I'll hit you up for advice - on what not to do- since you have trouble explaining even what comes out of your mouth, not to mind what's going on in your head

Captainsatnav · 18-04-2018 11:20pm

P R up 40% since I got in ha ha

Lash_Alert · 18-04-2018 11:20pm

ballyharpat wrote: »

Thanks, good luck with your long term hodl/penny stocks etc, in the meantime, I have rent to collect and dividends, oh, one of my blue chip stocks made 4% today, I'll do the math for you, that's 8% of my initial investment.

.......but what do I know, I am obviously not as knowledgable as you :rolleyes:

I'll hit you up for advice - on what not to do- since you have trouble explaining even what comes out of your mouth, not to mind what's going on in your head

Another weird response on a number of fronts such as
1) I never said I have a share holding in Pro.
2) not that my portfolio is any of your business but I currently only have a small shareholding in one penny stock, not pro and its purely speculative.
3) you go around collecting rent? Weird given your such a high flyer, I would have thought you go the normal standing order route as opposed to door to door collecting but each to their own.
4) you sell that blue chip then? Or you just oddly bragging about a standard day to day movement. No gain or loss realised until you sell but once again an equities whiz like yourself is fully aware of that so the weird brag about 4% gain doesn't tie in.
5) not too sure what that math is showing? You sure your calculator is working?
6) good luck with the online rich man persona, may it bring you endless hours of enjoyment.

That's me done anyways. All the best

oneday2day · 18-04-2018 11:33pm

Hope this time that providence does the business, there’s another thread on here from 4 years ago that was calling providence firbwhat it is- not much has changed.

Hasnâ€™t been much positive news in the last 4 years, but it is speculative- @ballyharpat you are on a different investment level than satnav and lash alert- they obviously are only investing small amounts, we all start somewhere, like you said you did, but yes, if you are serious about investing, then blue chips are the way to go.
Judging by lash alerts comments, he has no financial knowledge and doesnâ€™t want any- if he suggests a landlord should hire someone to pick up the rent :-0 or that a blue chip is any way comparable to a stock like shire that they are invested in.
Regarding the â€˜warrenâ€™ quip, you seem to be a value investor like him, judging by your other posts- and it has obviously worked for you if you are still doing it 15 years later, and living a good quality of life from those returns-

There are many keyboard warriors, I wouldnâ€™t be getting into battles, if he has no knowledge, itâ€™s just jealousy- imo

ballyharpat · 18-04-2018 11:37pm

Captainsatnav wrote: »

P R up 40% since I got in ha ha

Well done Captain, you may make your 100%, it's a good feeling when your ship comes in!!

greenfield21 · 25-09-2018 3:59pm

Back in the green on this one today, its pure gambling but I think this has potential in the medium term. Will hold and see

yobr · 25-09-2018 4:04pm

Captainsatnav wrote: »

P R up 40% since I got in ha ha

I dump them just before the drill.

Pkiernan · 25-09-2018 4:05pm

Sell at 30 pence

greenfield21 · 03-10-2018 10:42pm

https://news.sky.com/video/ireland-a-step-closer-to-massive-oil-boost-11516568

Captainsatnav · 03-10-2018 10:53pm

greenfield21 wrote: »

https://news.sky.com/video/ireland-a-step-closer-to-massive-oil-boost-11516568

https://www.irishtimes.com/business/markets/providence-resources-target-price-upgraded-50-by-private-bank-1.3649380?mode=amp

ballyharpat · 04-10-2018 12:22am

FFS-
The private bank is not considered an independent commentator on Providence because it is currently engaged by the oil explorer to provide corporate finance services.

Captainsatnav wrote: »

https://www.irishtimes.com/business/markets/providence-resources-target-price-upgraded-50-by-private-bank-1.3649380?mode=amp

greenfield21 · 10-07-2019 10:11pm

See pvr is regaining some ground. Drop looks like it was caused by a delay in funding from the chinese company providing finance also alot of negatives around the climate bill and possible ban on expolration. Have not been really following it lately. Interesting to see if they get the survey permission.

littlevillage · 10-07-2019 10:41pm

greenfield21 wrote: »

See pvr is regaining some ground. Drop looks like it was caused by a delay in funding from the chinese company providing finance also alot of negatives around the climate bill and possible ban on expolration. Have not been really following it lately. Interesting to see if they get the survey permission.

Spot on summary. Got in myself there recently at 8 cents.... got out swiftly again though at 9 cents. Wish I had hung tough, I would be looking at 12 cents now and a healthy 50% profit on my investment in the space of about 3 weeks. :rolleyes:

Providence is not for widows and orphans...and is the kind of company that could be 18-20 cents in another 3 weeks or could be 5 cents. :eek:

Jim2007 · 11-07-2019 9:27pm

littlevillage wrote: »

Providence is not for widows and orphans...and is the kind of company that could be 18-20 cents in another 3 weeks or could be 5 cents. :eek:

It's a penny stock.... it is is for no serious investor.... but as an alternative to the dogs or the horses go for it.

ballyharpat · 11-07-2019 10:35pm

Jim2007 wrote: »

It's a penny stock.... it is is for no serious investor.... but as an alternative to the dogs or the horses go for it.

I said this last year, they tore me a new one-it's definitely not an investment, like you say, as good as the ponies. If you put in even €500, youd raise the share price substantially, it's good if you want to gain or lose the price of a pizza.

Cute Hoor · 14-07-2019 8:34pm

Providence are expected to clarify the status of the 9 million Apec loan in the next couple of days, possibly as early as tomorrow morning. Last Monday Providence advised that the dosh would be received by Wednesday, it didn't arrive and they then set a Friday evening deadline for it to roll in, the company remained tight lipped as to whether or not it had been received.

greenfield21 · 08-08-2019 9:26pm

greenfield21 · 08-08-2019 9:27pm

Should be interesting to see how this one plays out now because they have made a right mess of things so far ha. Along with the survey I hope to see funds transferred tomorrow.

littlevillage · 08-08-2019 11:18pm

greenfield21 wrote: »

Should be interesting to see how this one plays out now because they have made a right mess of things so far ha. Along with the survey I hope to see funds transferred tomorrow.

I assumed the 40% jump in SP today meant that the funds had indeed been transferred. If not then woe-be-tide :mad:

littlevillage · 09-08-2019 8:27am

They Irish Government has granted permission to carry out the site surveys. Bet the APEC funds will now magically appear also (Chinese were probably waiting for this signal before transferring the money)

https://www.irishtimes.com/business/energy-and-resources/providence-secures-permission-for-barryroe-site-survey-1.3981075?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fenergy-and-resources%2Fprovidence-secures-permission-for-barryroe-site-survey-1.3981075

Cute Hoor · 11-08-2019 3:29pm

Big spread in the SBP today, only $1.5m left in the kitty at the beginning of August (little more than a couple of year's salary for Tony), all technical staff let go, moving from their HQ to a serviced office. The $10m Apec money still expected, as it has been for some time.

littlevillage · 14-08-2019 8:51pm

Still waiting .... Deadline extended again.... This time til 19th August.

https://www.independent.ie/business/irish/providence-further-extends-funding-deadline-38399042.html

I thought once the Irish Government gave the go ahead to do the surveys .....that that would have been enough to convince APEC to release the moolah $$$$

Now I wonder are APEC playing a more strategic game ? They see that Providence are struggling and maybe want to let them go the wall altogether and then snap up the licenses themselves at a knock down price.

At some point Providence have to show some liathroidi here and hopefuly source alternative finance elsewhere.....then give APEC an ultimatum.

To be honest even if the money is eventually transferred by 19th August from APEC the whole thing has been a PR disaster for Providence and the working relationship with APEC is damaged now anyway.

Cute Hoor · 14-08-2019 9:12pm

Closed up 20% in London, maybe they are getting the few shillings

Providence Resources

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