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Gold M&A back on the agenda as coronavirus restrictions ease
We can dream!!!
Many trades over the last few weeks have been for less than £100......what’s the point?
Our £200,000 slowly being whittled away. An update would be nice.
Yeah, being alive always helps.
On PXP ownership, latest on this site has Philex back up to 30% ownership, the remainder are Philippine organization investors and some funds like Mackenzie Corp
It would make sense to fold Forum into the AAOG shell rather than keep separately, but who knows what they will do.
A company rename at the very least is to be expected, so we shed the very last vestiges of DS and the dire debacle this has been. The exciting aspect at the moment is this shell could be substantial if the owners wish to make it so.
What a lovely day to be alive.
Your right, PXP operate through multiple holding companies in both HC and mining sectors in tandem - PHILEX Mining Corp is the parent company on the structure chart I hadn't noticed before, directly owning 19.76% of PXP Energy, also other mining concerns in that structure as in Brixton Energy and Mining and Lascogon Mining aswell as FEC resources - so mining and hydrocarbons together is PXP Group MO it seems.
So another question is who owns the remaining 80% of PXP Energy and therefore may be calling the shots on this AAOG play or is it driven by Philex ? Philex, are one of the biggest gold and copper mining company in SE Asia, but controlling ownership changed for PXP energy, as per PMC site:
"On February 29, 2016, the Philex Mining Company’s Board of Directors approved a property dividend consisting of shares of stock of PXP at the ratio of seventeen PXP shares for every one hundred shares of PMC, which was approved by the Securities and Exchange Commission on June 22, 2016.
The transaction reduced PMC’s shareholdings in PXP, effective July 15, 2016, from 64.7% to approximately 19.8%, allowing PMC to leverage on its key strengths and focus its resources on its core business of metals mining, "
With Forum/Forrest links, involved being a subsidiary of PXP , AAOG shell take over appears to be driven by PXP Energy who can and do operate in both HC and mining sectors, so could be both or either as the RTO target or an existing asset owned by the Group to be developed within the AAOG shell.
Either way this is not a small beer association for AAOG - Philex market cap is £1.8 Billion.
Might be of some interest to you, Lucian and Tidswell are involved CHAL now, (only mentioning because of the the ANGUS - Saltfleetby - Forum link). Out of interest have any of you come across the names Mr. Rupert Esmond Ian Baring Or Zhen Xie ?
Very nice research Tiburn.
Longstanding link between Dexter Ferreria, our new director, and Philex/PXP going back 10 years.
Makes it more likely that Philex/PXP is Forum Energy Services Limited's mystery backer.
And SP Angel Corporate Finance LLP became the new broker and NOMAD of EUA (palladium, platinum, gold) today - not suggesting we are linked to them - but Tania McIver, our other new director, is COO of the said SP Angel Corporate Finance LLP.
One possible set of indicators points towards gold and battery minerals, another towards hydrocarbons and Saltfleetby.
But are the two mutually exclusive?
You would think so - if it wasn't for the existence of Franco-Nevada Corporation NYSE:FNV - mainly gold and silver, but with a sizeable hydrocarbon component.
CAGR of 19.9% over 12 years.
Anything is possible.
A mini Franco-Nevada Corporation?
Many moving parts here.
Forum Energy is a separate company, Paul Forrest also works for and just raised £2m in April.
Forum Energy is a holding company controlling most of PXP Energy gas field operations it seems
PXP Group own 72.2% of Forum directly
A Canadian concern FEC resources owns 6.8% of Forum it seems in top left hand box , but part of PXP Energy in any case:
FEC also mention the following:
"FEC also has an investment in a gold exploration project in the Philippines"
Dexter Ferreira is a Canadian Geologist - and obviously has links within PXP group subsidiaries for him to be appointed to AAOG in the first place:
"Dexter Ferreira is appointed Non-Executive Director. Dexter has worked in the natural resources sector for over 25 years, namely as a consulting mining engineer and geologist. He is currently a director of Independent Resource Estimations, a consultancy company for the mining and exploration market"
This link shows Dexter writing technical reports for Philex gold, based in Phillipines, owned by PXP Energy
"Ferreira, D.S., 2008, Technical report on the Boyongan porphyry deposit: Report prepared for Philex Gold Inc. by Independent Resource Estimations cc., 114 p."
Our Forum Energy Services Ltd , the AAOG 25% owner, also with Paul Forrest leading doesn't seem to be linked financially to Forum Energy that we know of, but could be the investment vehicle by which our FESL has been funded and will be going forward - the investment funding has to come from somewhere - this is the obvious link in the public domain.
All the funds ultimately look to be from PXP Energy Corp, which means AAOG development may have that large market cap backing going forward.
DS AKA Gunslinger !
"The idea that simply because Forum hold shares at 0.5p there would be support or a floor at that level has been shown to be without foundation."
I agree with you 100% if there has ever been anyone who thought that there would be support at 0.5p then it was very foolish of them.
As I have said repeatedly this is a gamble based on the fact that forum have spent £500,000 on acquiring a shell at an average price of 0.5p. Whatever asset they reverse into this (and we do not know what it will be) we can assume that they have a plan to get the share price to may multiples of 0.5p in order t make a profit on their investment.
My take on this is very simple. If you can get in at a price of lower than 0.5p then you are guaranteed to make money as Forum will ensure that they do and you will have a better buy-in price than Forum. However, I think that anything up to 1p will still multibag once assets are put in.
Crusty. I have dry powder waiting for .2 or below .
NAAOG is UK registered company on AIM so assume don't need to operate in Congo to leverage it - also £60m of the tax loss comes from the Forum owned Saltfleetby asset , UK gas field and UK registered company.
Looking at NED cvs , it could be a battery metals play in Africa however, so you could be right.
Fair point on SP , but it was at 0.12p is another way to look at it!
Either way, SP down here is irrelevant at the moment or any conclusions either way to be drawn from it - we wait on material news of Forums plans - then we shall see.
"This will go up and down on the slightest breeze until concrete news....."
Or more accurately "this will go down and down on the slightest breeze until concrete news...."
Nothing holding it up without news, I think? The idea that simply because Forum hold shares at 0.5p there would be support or a floor at that level has been shown to be without foundation. Indeed the sp was at 0.15p even after Forum had bought their shares so that didn't provide any support then or now.
So, without news there is likely to be continued drift in my view. That is disappointing, of course, but realistic methinks. I will be keeping my powder dry for the next top up.
These tax losses are applicable to Congo and therefore they must run a business within Congo
that will generate turnover that will benefit from these tax losses. So perhaps they are negotiating with
the government on this business type and scope. Is that right?
This will go up and down on the slightest breeze until concrete news and direction of travel is confirmed by Forum.
There is nothing to "ramp" about.
This is a shell with some potential prospects established by some doing some background research - and nothing else.
The facts are Forum has some links to PXP Energy and Gazprom through past ownerships and staff, the shell has £90m in tax loss to leverage and it is assumed this will entail a reasonable scale of venture to make this worthwhile for the silent (as yet) backers. The future RTO target news could literally arrive any day.
About time for this tanker to pay some bills.
Took some abuse here earlier in the month when the rampers didn’t like their antics being called out. Well here we are only a couple of weeks down the line and it’s already down over 50% on the spike. Just shows how these small aim companies can be manipulated by the mindless rampers And their tactics of posting relentless spam and trying to drown out anyone who disagrees with them.
Thanks for your reply but you can be rest assured that a good few high profile people are on the case and waiting for the correct timing to start proceedings.
Bank statements CANT lie.
Be safe my friend.
So, what is everyone opinion here then, SP going up? or down?
So, what are everyone opinion here on the movement of this SP, up? or down?
Sorry for typos but on phone and finger to big for keypad but you get my drift.
Papa I admire your fighting spirit but alas I shall not contribute to the cause. DS is a legal profession and will have covered his tracks. If it did go you court we would be the disgruntled shareholders who lost money through no fault of his. We somehow we did win a case he may get banned from being a director for a few years, I don’t think that would bother him.
I don’t think any institutional investors will trust him now, so if he goes public you would be better off buying one share in the company and vent your anger at agm’s.
Good luck which ever route you take.