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Gold M&A back on the agenda as coronavirus restrictions ease
https://www.reuters.com/article/us-health-coronavirus-gold-m-a-idUSKBN2352AF
We can dream!!!
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
https://www.marketscreener.com/PXP-ENERGY-CORPORATION-64308288/company/
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.
Skittish
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.
https://www.pxpenergy.com.ph/home/our-company/group-structure/
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:
http://www.philexmining.com.ph/corporate-profile/
"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.
in CHAL*
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.
https://www.franco-nevada.com/our-assets/assets-list/default.aspx
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.
https://www.pxpenergy.com.ph/home/our-company/group-structure/
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:
http://fecresources.com/
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
https://mrdata.usgs.gov/sir20105090z/show-sir20105090z.php?id=512
"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.