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Yeah, yeah, whatever.
In the meantime....
https://www.proactiveinvestors.co.uk/companies/news/913444/power-metal-s-paul-johnson-explains-why-he-s-committed-for-the-long-term-913444.html?utm_content=buffer7d7cf&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
I know exactly what you said. And I reiterate my point: every month or two, you cannot help but riposte the latest dig by reminding everyone how you're in a win-win, hedged, personally negotiated position, how you're in control etc. etc. Fine. But at the same time, you're obviously keen to encourage new investment. The two simply don't sit well, because any PI investing at open market prices now faces the highly likely arrival of dilution in the not-too-distant future - in some part, at least, due to the debts the company has on its balance sheet as a direct result of your so cleverly-negotiated position.
So perhaps your best bet would be to keep quiet about your CLNs and hope some unwitting PIs invest, unaware of their existence.
Except of course, pride...
And you Ludeck cannot read.
The CLN comments are in response to Tragic's accusations that I and other CLN holders are locked in. We could have had repayment in December as one person did and one person took a partial repayment.
At 19/12/20 we have another decision: hopefully we have converted before then.
The comments re Para and El Limon are factual. Larger royalty payments due to the gold price being higher and higher throughout means we get paid back quicker.
The NPV changes depending on how quickly we get paid back.
If you do some reading it might help.
DYOR
Posted by Helpful 11 Nov 2017:
"I funded the loan notes and took some personally. You don't know what you are talking about. It is a good each way bet. If things work out I expect to be out end January 18 with a significant profit."
You can only chuckle TBH. I guess things didn't work out . . . . lol
@helpful - it is clear that the only reason you post here is to attempt to encourage new investment from unwitting PIs.
Hence, posting information that might conceivably be seen as positive to the investment case.
What seems fairly obvious though, is that the CLN situation is anything but positive to that investment case.
And yet, every once in a while, you can't help but let everyone know how happy you are with the arrangements that you have so cleverly negotiated.
A rather amusing case of pride letting the side down really, as anyone reading this and knowing that the company is going to have to find the money to repay those CLNs from somewhere must be pretty certain of some heavy dilution to come.
Perhaps you should let the comments about you being locked in slide, as your responses cannot in any way be helping your already very hapless looking position.
Sorry Helpful but this nonsense commentary won't wash
Your CLNs should have been repaid back in Dec 2018. They weren't, they were rolled over for another year into 2019.
They should then have been repaid in Dec 2019. They weren't, they were rolled over for a third year.
Any way you cut it your cash is locked in there. There clearly isn't the money to repay them which is why they had to be rolled over. The recent Annual Report (to June) stated that Cash In The Bank was just £64k.
El Limon royalty is a joke and you know it. The quarterly payments were previously paltry and meant it would take over 100 years to recoup the full $3m. A bit of an increase in production might reduce that a bit but it's still farcical. The company ceased putting out the actual Quarterly Royalty Revenue in RNSs which was telling in itself.
The hopes, dreams and fantasy projections you cite are meaningless. They said the same things years ago and nothing has materialised. Why don't you tell readers here what the ACTUAL QUARTERLY REVENUE has been for each of the past say 4 quarters???? Won't hold my breath . . .
DYOR
Again Tragic you just demonstrate your lack of understanding.
1. I am not locked into the CLNs . They have a 12 month life and are due for redemption on 19/12/2020.
2. I negotiated the rollover, I could have negotiated other terms. I am quite happy to hold the CLNs with a 12% coupon. It would nice if I could convert for an equity gain but the 12% will do.
3. El Limon and the royalty matter. If Para is now going to concentrate on El Limon and increase throughput then we get our royalty quicker.
4. The NPV of the royalty is a function of the amount owed and the timing of payments.
5. From the annual report: During the reporting year the Company has continued to receive proceeds from the sale of its gold interests in Colombia. Payments of up to US$2.0m are to be paid in the form of a 3% net smelter royalty payable quarterly on gold production and these payments continued in 2018-19 and totalled US$124,922 to 30 June 2019. The Company estimates that approximately US$250,000 will be paid out towards the US$2m royalty during the next four quarters based on the most recent projections from the operator in Colombia. A final royalty stream of up to US$1.0m will be paid following the payment in full of the initial net smelter royalty in the form of a 0.5% net smelter royalty.
6. The gold price is up and so will accelerate payments, as will a greater throughput.
Your comments just demonstrate how little you understand.
DYOR