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Then take away the $9mm debt, meaning the equity is worth zero at current levels.
Good luck.
That worked sell and volume has been in the pipeline for months.
Its finally been filled by the 11% copper discovery at Minto.
The price action a few days ago soaked up that worked sell (2% of the company) and the subsequent action showed the MM's had limited to no stock at this £1.5/2m market cap level.
The value of Minto currently is worth over £5m and that is with Minto pulling back from their IPO at over $2 to $1.2.
If you believe in Copper then Minto and Pere are totally undervalued with a squeeze potential in Pembridge..
They are overdue a payment of $500k and another $500k due in June and $1m in September.
This stock was trading between 5-8p when Copper was these levels and slightly higher. Also note the CEO owns 22% and bought 550k shares at 2.1p on market as well as 300,401 @ 3.7p July last year on market & £80,000 @ 5p.
https://www.wsj.com/articles/net-zero-will-mean-a-mining-boom-electric-cars-minerals-oil-fossil-fuels-climate-change-policy-cb8d5137
California made a stunning decision last year—that by 2035 all new cars sold in the state must have at least 2½ times as much copper as conventional cars today.
1.88 mil at 1.47p is clearly the worked seller when people were piling in for size yesterday at 1.49-1.5p
2 x 1 mil buys or a rollover hard to tell but the price did spike up earlier ?
My average is a fair bit higher then the current SP. Hopefully the rise will continue. ATB
wow super illiquid now. Looks like one person is trying to spike it. One minute somebody is paying almost 2p a few seconds later somebody else has sold at 1.62p.
Probably a massive overhang from the fact nobody has touched this for ages. I can buy 500k online at 1.652p
I bought back in earlier and was alone in buying. I then thought to myself did I read the news wrong but now after all those huge buys for Pere the news was good and people were asleep, a few took advantage of a overhang to get size under 1.5p.
Maybe Gati is buying more like he did last November over 2p on market.
The Company has been advised that Mr Gati Al-Jebouri has acquired an additional 550,000 shares in the Company on market purchases from 18 November to 23 November 2022 at an average price of 2.1p per share. As a result, Mr Al-Jebouri's holding has increased from 21.35% to 21.91% of the issued share capital of the Company.
At these levels under 2p it is an easy buy for me.
The 11% has intrinsic value and someone will buy the position for 5-6p or Minto will go back to IPO level producing such levels of Copper. 1.5-2p is a buy regardless of the issues. A couple of years ago this ran very quickly to 10p.
dunno why they keep saying looking after shareholder value in the rns, the share price is massively down still.
The drill results just released were very good.
The Minto mine didn't flood Steve, so it's not like the Weatherly International situation where the open pit flooded.
Minto had to deal with record snowfall last winter and managed to cope with the resulting water very well when it melted.
It closed the mill for several weeks as a precautionary measure but continued mining. The mill was later run at a higher production rate than previously to make up for the closure. Minto therefore managed to meet production guidance last year as per the recent news release. The amount of snowfall encountered last year is a very rare event.
Flooded mine, remind me of weatherly international, that delisted years ago
I'm surprised it didn't nose dive.
oh dear ,. the share price just keeps dropping here.
Pembridge Resources
@PembridgeRes
·
1h
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Solar panels are being used more and more and the technology is improving
A Portuguese company have created a floating solar farm that follows the sun
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are assessing investment opportunities in this sector
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So of the $8.7mm, $5mm now matures Dec23 ie £4.2mm. Then there is $3mm of CLN maturing end May 2023 of which $2.5mm is external investors. Conversion price is 11.3cents which is 9.4p at current fx so they’re not going to convert. So that’s £2.1mm that needs to be found or refinanced in 6months time.
Meanwhile from the interims to end May, the CLN will accrue £0.5mm interest cost. The Gati loan will accrue another £0.7-0.8 roughly as I forget the exact principal.
So question is where is the cash coming from. The company is looking like it will be insolvent unless there’s a strong recovery in MNTO share price. Currently worth £5.4mm. All depends on copper price I guess.
But you’re missing the $8.7mm debt as at end June. £7.25mm. This would have to be repaid first.
I note the Gati loan was extended by a year and a little clause inserted in case you did manage to club together some revolting shareholders! :
3. Company's right to dispose of any of its assets is subject to lender's prior approva
This lot has managed to have OUR 11% stake in Minto, currently worth about £5.75m, valued at a mcap of £2m.
I bought back in today. Surely Gati can’t eff this up more than he has done already?
Four directors’ drawing a salary fro PERE and they haven’t even managed a dodgy land deal in Bulgaria. Apart from drawing salaries and expenses, what the blue blazes do they do all day?
I think we should requisition an egm to return a special dividend to shareholders and dissolve the company.
Any more revolting shareholders here?