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A fair few more than that FB!
It is intended that the Proposed Acquisition would be affected by way of a Canadian Plan of Arrangement pursuant to the British Columbia Business Corporations Act (the "Plan of Arrangement"). The headline consideration payable pursuant to the Proposed Acquisition is stated in the non-binding heads of terms as £15,940,891 or CA$27,418,332 using an exchange rate of 1.72 GBP:CAD, to be settled by the issue of new Ordinary Shares in the Company. In this respect, the Company proposes to issue to the shareholders of Rome Resources a total of 3,188,178,220 new Ordinary Shares at an implied price of 0.50 pence per new Ordinary Share, representing a 3.28% discount to the 12 month volume weighted average price (VWAP) for Pathfinder's Ordinary Shares, being 0.517p.
On the other hand, Rome Resources shareholders apparently willing to price "old" PFP shares at .5p, presumably with a view to an uplift from there, and new assets to at least the value of c. £16m, hopefully rising as the exploration results confirm the potential "world class resource".
New ball game. Relist SP will depend on how much the City wants to pay for a stake in the "Bisie North Tin Project" potentially comparable to Alphamin.
"Rome Resources has made recent discoveries of tin, copper, zinc and silver on both permits, which are situated only 8km North and on-trend from Alphamin Resources (AFM.TSX) Mpama North and South Tin mines. Alphamin is the highest-grade tin producer in the World mining at a grade of 4.5% tin and accounting for approximately 4% of global supply from the Mpama North mine alone."
Only another 1.15bn to go
SP will have to go some with the now confirmed 40% dilution. Slight concern that the previous +3percenters have little control now unless they’ve managed to increase their holding..
2024 is a huge year where all the share holders will become quids in, years and years of waiting and we finally get the cash we all knew
Only 27% (173.3m) of share holders could be bothered to vote at the recent GM. 425m shares just issued that don’t hold the benefit of a share of any BIT windfall. I imagine the holders of the 425m would mobilise far easier than getting a larger part of the 632.4m.
… will be interesting to see these amended details on the PFP website, shortly hopefully.
Does this mean that the shares are back trading on the 27th December?
So what the next stage? And how long we talking
Both resolutions voted through.
https://uk.advfn.com/stock-market/london/pathfinder-minerals-PFP/share-news/Pathfinder-Minerals-Plc-Result-of-General-Meeting/92872902
Daydreamer
Edzi.
Let's cross that bridge when (if) we ever get to it.
Hi All
Just wanted to make a point regarding the Moz Claim that Pathfinder have sold onto AAI and DLA Piper
I have it on good authority that the wording of some of the paperwork is ambiguous.
There is a strong possibilty that IF there is a payout regarding the case that the Board of PFP having overall
control with the share register that they will not disperse the monies and keep it. I am not trying to start
causing irrational problems as I am a shareholder with a considerable holding. The problem is that the new board
once the new deal is in place will be able to outvote everyone and maybe keep the bigger shareholders sweet
Everyone feeling positive about tomorrows GM
I’ve read that RNS about 20 times and still haven’t a clue what it means! All I can see is loads more shares been issued and therefore we are getting diluted but I suppose a dilution is better than having nothing at all
Thanks for this
Thanks much appreciated
The extension is to the 15th Jan and was given so paperwork could be submitted to the Moz Courts, no RNS done until a firm timescale on exact length is concluded.
From a reply
This has all gone very quiet
Interesting that they haven’t issued any notice to say they have agreed an extension to start the BIT when we all know they have extended it but not said by how long, I do suspect this won’t get far and a negotiated payment will come forth.
IMM now all sorted at Companies House, accounts requirements met, strike-off action discontinued.
https://find-and-update.company-information.service.gov.uk/company/05410573/filing-history
Have we heard anything regarding the claim lately, as of today I was under rhe impression that the claim needed to be initiated or the rights get returned to PFP, you'd think this would be market sensitive information and news would be published to shareholders, or are there even more shenanigans going on behind the scenes with AAG.... hmmm...
You seem to be only considering the raise of c. £1.3m to enable the loan to Rome and to cover costs and expenses connected to thee RTO. You must be missing the bit of the RNS where it deals with the purchase price for Rome of c. £16m, to be paid for in new shares at a deemed value of 0.5p, a premium to the pre-suspension price.
In other words, upwards of 4bn shares just on that score if the thing goes ahead but I'd also expect a further chunky raise for working capital as part of the process immediately ahead of the NewCo being re-admitted, so there could well be a share consolidation as part of the RTO process.
The relisting price will depend on many things but will have little to do with the pre-suspension price of PFP and a lot to with the value the market puts on NewCo's stock, bearing in mind the potential "...for a world class discovery in these permits in terms of grades..." according to the CEO and also the read across to the close proximity of similar Alphamin structures, Alphamin currently being afforded a market cap of c. $1bn CAD!
https://www.alphaminresources.com/
Here's the thing... https://romeresources.com/our-company/board-and-management/
Mark Gasson - Director of PFP and CEO and President of Rome - "...Mr Gasson was instrumental in the negotiations, acquisition and discovery of Alphamin’s Bisie tin project (the world’s highest grade tin deposit at 4.5% tin) which is located 8 km to the south of the Company’s Bisie North Tin Project..."
Jamie Anderson - Exploration Manager at Rome - "...Mr Anderson started the Bisie Tin project as Exploration Manager with Alphamin in 2012 and defined a +200k tonne high grade tin resource. He was part of the team that took the project through to construction phase and managed the exploration when Alphamin recommenced drilling at their Mpama South Project at Bisie in 2020..."
So, clearly, the framework is in place for Alphamin v.2. These guys have been there and have been instrumental in doing the business already.
For me, much will depend on what forward-looking value the City will put on that! I know some are seeing at least .5p and perhaps up to around 1p on re-admission.
Thanks mate, I’ve got this in my head might not be right!
Approx 1.2B share will end up in pathfinder almost double pre closure, so I’m guessing your holding will be worth around 50% less until the share reaches double its pre closure? Not sure if that right?
Fair not fare opps !
There will be 1,057,494,834 NewCo shares in circulation, and possibly a further 212,500,000 if the NewCo warrants are issued. So a NAV per share could be estimated but this isn’t the SP. Probably fare to say that it will trade below the NAV/share level. Perhaps there is a clue in the RNS and the warrant purchase price of .45p, anyone’s guess at this point.
Anybody worked this out yet?