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Pokers, your observation is absolutely true, but 450,000 shares or so is a very small percentage of the 140 million or so shares that are in issue.
Less than a third of a percent.
I think that there may be a bit of buying today, once the press gets hold of it.
I think that you will find that the City press is fairly Proactive (see what I did there).
A bit of buying, combined with little or no selling will move us the right way.
Gold and GGP stabilising will also reassure the market, I think you will find.
Must leave, first meeting is at 7.30 am, (8.30 ECT) I have a plane to catch.
This really is a sea-change in the prospects for Prim.
Hopefully, there should be a bit of positive press around this today, there certainly should be.
I am very happy that by acting as a catalyst, the result is that Rupert, Matt and Hedley are on the Board, less than 4 weeks since we first spoke.
I hope that It's a good thing that I bothered to pick up the 'phone, if I hadn't, I suspect that there would have been little change.
Have a great day one and all, I have people to see and places to go.
Please look after the SP whilst I am away.
Update on SP end of week.
1. Gold price currently 1863 versus prediction end week 1850 ON target
2. GGP predicted predicted 21 to 22.5 currently 22.1 On target
Huge buys close of play in my target range
Recent Share Trades for Greatland Gold (GGP)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
23-Sep-20 16:10:01 22.2594 578,288 Buy* 21.75 22.00 128.72k O
23-Sep-20 16:28:10 21.777 388,000 Sell* 21.75 22.00 84.49k O
23-Sep-20 09:21:34 22.5644 880,253 Buy* 21.75 22.00 198.62k O
23-Sep-20 16:10:37 22.00 454,484 Buy* 21.75 22.00 99.99k O
23-Sep-20 16:01:40 22.08 302,000 Buy* 21.75 22.00 66.68k O
23-Sep-20 15:56:47 22.285 451,543 Buy* 21.75 22.00 100.63k O
3. PRIM share price currently 3.95 but on track for target range of 4.2 to 4.3p at end week 4.4p top of range
Good buying tomorrow as investors realise that this is now investable. ON target.
Two days to go, a lot can change......
That RNS is an absolute shocker. I read it as AC admitting they’ve been milking shareholders, acting like overpaid clowns ‘taking the pith’ !!
Admitting a complete lack of transparency and communication with shareholders, stakeholders and the market and now having to make changes as they’ve been backed into a corner.
A total admission of incompetence and/or disregard for the duties they possess as board members.
Dana, I’m unsure about nobody selling ? They’re the only trades today - all sells !!
The SP is a shambles !! We drop the same %age amount as GGP, yet completely lag behind when the GGP SP goes up !!
The board changes have done diddly squat for the sentiment of this share.
Well that'll be a first danawinner! Three new board members and the cost of the Board won't rise !!
Requisition withdrawn. Pity we didn't get that result at INfA all those years ago. It would have savesd the shareholders a packet.
It does appear your comment with regards to wage cost decreasing has been confirmed by email from ac.It will be interesting to see the detail of these positions sooner rather than later.Comments appreciated dw.
I am very pleased to see that nobody is selling, as this is good news for the company.
Please don't forget that Rupert has 18% of the company, co he is totally aligned with shareholders.
I think that you will see the total cost of the Board fall, not rise.
We are in safe hands,
Glad to be of assistance in this, and I look forward to seeing significant growth in the SP and a more realistic reflection of the underlying Net Asset Value, that the company undoubtedly has.
Good luck all, here's to the future.
I quite agree with your comments.Same thoughts going through my mind.I expressed similar opinion with RkB earlier and until we find out the latest strategy and some transparency between directors and pi.At the moment alot of guess work and smoke and mirrors.imo.However the investments are strong and can only see large growth from here.Just need sp to reflect that.Onwards and Upwards.
So I wonder what the salaries will be across the board. Is it case of more mouths to feed ? Time will tell I suppose. Something had to change let's hope the change is Good news moving forward. I'm surprised by this move. Will keep an open mind. Let's bank the GGP profit first.
Is it? So now we need 5 directors? " it became clear we share the same vision for the Company and how returns can be maximised for all shareholders." Got to take that with a pinch of salt given the previous inflated salaries. Look forward to the strategic review and hope for growth though
New Board Members!
Very happy to have been of assistance and provide the introductions, leading to a very rapid outcome.
A great new team and the baby has stayed in the bath, as well.
Good outcome for all involved imo
Board Changes announced
Resolutions on Company Website. It may take bit of navigation to find them.
Re-company business 23/07/2019
The date of the RNS, 'Results of AGM'
All resolutions were duly passed.
Can anyone remind me what those resolutions were?
Rather than issue an RNS, the current PRIM Board of Directors has quietly filed a Notice of Resolutions with Companies House.
You can see it here.
Company Results (links open in a new window)
Date(document was filed at Companies House) Description(of the document filed at Companies House) View / Download(PDF file, link opens in new window)
23 Sep 2020 Resolutions
Resolution of removal of pre-emption rights
Re-company business 23/07/2019
Resolution of allotment of securities
This document is being processed and will be available in 5 days.
Nothing to hide here then?
That is why you get automatic notifications logged into your Companies House alerts, it's free.
I am out and about so find it difficult to check but I think there may be an RNS out concerning resolutions
Pokerchump, you asked me what the share price will be at the end of the week.
You are asking me to predict;-
1. The world gold price.
2. The Greatland Gold share price.
3. Buy and sell demand for Prim.
That's an easy one then.
Share prices are always driven by sentiment, and until there is Board change here, with the new Board being co-aligned with shareholders' aims, then there will be resistance to investing here, as other similar shares such as Starvest may be more investable. Of course, if (when) there is change, then the scenario will change enormously, so that is for the medium term.
1. Let's consider the world gold price. My feeling is that the negative sentiment may continue a bit, but it can change direction with ease if the event of global news. I am going for an £18.50 price for the end of the week.
2. The Greatland Gold SP has been the modern-day equivalent of gold-rush gold fever, and was getting seriously overbought. The corollary of that is that the Institutions appear to be taking positions as a pre-emptive strike to buy in early, should GGP become a component of one of the indices, which is likely, imho. IIs are very savvy and will have a target price in mind and rigorous buying criteria, and the exit of the short-term PIs shares will be bought up by them, in a controlled manner. This will add stability to the SP. I suspect that they will want to get in at the 21 to 22.5 range, but there are a lot of IIs that need to get in.
3. The PRIM share price. Prim has a small MCap, and the SP moves easily in change in supply and demand, as the MMs don't seem to carry a lot of stock, which makes the SP more volatile. There is also uncertainty as to whether the company still holds the GGP shares, and the current Board has sold part of the holding, which would pay their salaries for the next year and have left the rest to run. I suspect that they will have sold more by now, hopefully at the peak, locking in gains as cash.
Taking everything into account, gazing into my crystal ball, and waving my magic wand, the answer is...............
4.2 pence to 4.3 pence with an upper range estimate of 4.4 pence. Interest in the share will pick up in the next couple of weeks
However, Dyor and aimho.
I hope that answers your question and helps you to understand how I look at share prices. I have read no books on the subject, I am only using commercial property valuation techniques, which is also about current and future income streams, and adopting capitalisation yields, depending on the quality and future potential.
Easy peasy. Innit?
Don't ask me what it all means, however.
The next GM needs to be called by 30-9-2020 (my error in earlier post) to be held by 27-10-2020.
No doubt they're trying to gauge how much support they'll get for resolution 3 at the AGM on 14-10-2020.
Surprised at the lack of interest here.
10 million is still a small company. We do not need a further non executive director then (unless it is a statutory requirement?). So basically as company increases in size so will its costs! So more of the same.
Looking at our Primorus Investment Website (last updated 20th July 2020) under Principe Nine: Non-Executive Directors, it states:
“Due to the small size of the Company, it is deemed not necessary to appoint further non-executive directors until the Company’s market capitalisation is over £10m.
In accordance with the Companies Act 2006, the Board complies with: a duty to act within their powers; a duty to promote the success of the Company; a duty to exercise independent judgement; a duty to exercise reasonable care, skill and diligence; a duty to avoid conflicts of interest; a duty not to accept benefits from third parties and a duty to declare any interest in a proposed transaction or arrangement. There is (sic:are) no plans at this stage to increase the governance framework until the company achieves minimum £10m market capitalisation.”
So the question I pose is when (not if) our mid price is about 7.16p will we have three Non-Executive Directors?
https://twitter.com/priminvestments/status/1307978692811948032?s=20 -- links to the following document.