Zephyr Energy – as predicted - more confetti for the Reverend Cliff Weight and a look at Turner Pope’s greed
By Tom Winnifrith | Tuesday 6 June 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Zephyr (ZPHR), as I have noted many times, is the sort of stockmarket heroin addict which just needs fix after fix of new cash inflows. If it can’t get a placing away it does a “bridging loan”. Then it runs out of cash again and needs another placing. In November it boasted “while the current drilling programme remains amply funded through c.US$18.5 million of liquidity available as of 10 Nov 2022, projected medium term cash flows still appear sufficient to support exploitation of its existing inventory.” Now all the money’s gone and its placing time. Again.
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