3432 days ago
IGAS CEO Andrew “piggy” Austin still has not come clean on his shoddy Equities First Holdings LLC loan/share sale deal – FFS at what price is your margin call piggy? But that is the least of his woes. I reckon that the shares are worth 20p at best (see HERE) but now even his own house broker Canaccord ( yes those mothers of Quenron fame) is flagging up a potential gaping balance sheet issue.
In a note out today Canaccord values the stock at 125p on the basis of a $90 oil price. Wakey wakey mothers Brent is trading at $65 so given the massive operational gearing your research is just bog roll. Why don’t you bring back Kevin Ashton as head of research to get the moneys you employ as analysts to produce something worthwhile? But buried down the note is a section on oil prices.
