Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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I personally feel very sad that James has felt the need to step down as CEO. I know he took the threats & intimidation very seriously & it prompted this resignation. I wish him well & have conveyed my best wishes...no one deserves the kind of abuse he endured! His resignation comes as no surprise as he always said he would step down around the time of the 'LE'...but Simon quiting is a surprise. I did message JP earlier & he did say that Simon had a "totally out of the blue health issue - the NOMAD can validate that". Who knows but I can understand if folk are sceptical! But why would you relinquish any power at a company you had 17 million shares in? Was it to do with the selling compliance rules or was it genuinely ill health - if it was I wish him a speedy recovery. JP did end say that "the long term value of Tendrara Basin will out with time" & I get the impression he will finally feel vindicated...but that moment of reflection is still a way in the distance.
The concern is if the basin potential is eventually realised we won't be the ones to benefit from it.
To be fair to James he gave investors a deep insight with investor trips & unfortunately after seeing how this has played out no other company will follow suite which is a shame.
Crude
The poor thing walking off into the sunset after pocketing millions from Sound leaving a ****ing car crash behind.
Say whatever...James does believe in the potential of East Morocco. Why would there be a clause that might release a further 9% equity? I can only assume it is there to fund the many exploration wells needed to realise that potential! I did smile when I read in the RNS that Marco was acting Chairman...knowing full well that resident pest 'Foxy' would think the fox was in the hen coup!! JP did say to me that "Marco is interim only" - tfft!! I do sympathise with Trellis as the rug seems to have been pulled from underneath him...Simon going with immediate effect! But it seems Marco will not be the sympathetic ear that Simon was once thought to be & so the shareholder revolt has temporarily stalled. However you decide to take this forward, good luck.
Crud, you are one pathetic individual. Are you going to brown nose marco now that your lord has gone?
Crude I think jp should learn from this sorry episode. In the world we live in now news is available instantly. If I fart now someone will know it in Australia in 30secs!!! If jp thinks he’s been given a rough ride he should take heed. If he thinks he can stroll off into the sunset and do it all again he has another thing coming. I for one don’t feel sorry for him at all and wouldn’t mind some legal retribution for what has been a terrible experience for so many people here.
Please go to the FCA website and report JP there are plenty of laws against what JP has done , which is essentially pump and dump. You must do this I personally know 2 people who have lost hundreds of thousand of hard earned £££ to this sound fraud.
Im case anybody is wondering I am a investment banker so know the law on this issue.
You must report JP, as he has not quit for the stated reason he has has done a classic pump and dump on you and it's illegal. I am also pretty sure he has been insider trading so once the FCA - Financial Conduct Authority has looked into it - and found he has several million cash up he's in big trouble.
Jones1980…does this mean the ex chairman can offload his shares and not have to announce it?
Crudehope did you sell any shares at the £1 mark because I know you must have been well in profit at that point - hundreds of % . I DO HOPE that your still sitting on these dumped stocks ?
Wow you must know actually be sitting on a loss ! If so JP must have sold you out as well.
trellis, I concur with your sentiments re abuse & will pass that message on.
Cheers, Crude
Remember GKP? Got driven into the ground. LTHolders screwed royally. Company re-invented itself and voila! The rich get richer.
Hi that's a good question , for those who have been in this share since 2016 ...and followed the story , you will all know many many millions of options where given out ...please see the RNSs. So your quote right he has a lot of shares BUT the problem is ....and this is the catch he got them at round this price so actually he's not at a loss, since he had 100 million + shares at one point ...these he kept to show everybody he has skin in the game.
That's part of the problem. If you have been told that Mr Marco will not be as sympathetic or independent as the temporary chairman then something's wrong. Whoever is in the position has a responsibility to the company and shareholders. If he has been put in position as part of a conspiracy, and you know about it, then authorities should be told. Are you listening compliance? Under the new regime the men in blue might come a knocking, Mr Crudehope.
James where you on the original trip to Morroco?
So we're now the ones left holding the baby (I'm guessing it's not Luca's). JP deletes his personal twitter, resigns, and then disables his work email. Never has to see or hear from any of us PIs ever again, yet cashes in his huge salary each month. Delightful.
Partridge, I haven't been told anything of the kind...please re-read the post. Anyway, I seem to recall trellis said as much.
Whoever was in Morroco on the original trip will remember Marco and JP flying around on a helicopter and smoking cigars by the swimming pool. It was the most bizarre sight I have seen - I think they where living out some sort of gangster fantasy - if you have lost money , it's because they have defrauded you, misinformed and misdirected you. It is not because you have made a bad investment !
It's because the CEO has been working against your interests not for them and This is a seriouse failure breach of his duty of care to you. Resigning does not absolve JP of the crime he has commited.
I'm a banker I don't some much mind that the financial elite rip each other off , that's part of the game - but I have meet many of you and your good people , steady middle class types , who placed their trust in good faith with a CEO who has activity worked against your best interest and defrauded you. Please check out Pump and Dump on Wikipedia.
Report the Crime - FCA
Lol!! Report the crime FCA - and let the good people at sound compliance , whoever they are explain it to the FCA.
trellis, I am not "mistaken" as I never said or thought you would stop - just that your action was stalled. I did wish you well in your future endeavors.
Crudehope , please tell me you actually made some.momeynon this ? Otherwise you must actually be sitting on a loss- JP must be SEVERAL 8 Million up ++++ £££££££££££££££££££££££££££££££££££££££££££££££££££
Crude tell me your more than 10k up ?
Its partly due to the 'Campaign' led by Trellis that this has come about - so his job is partly done and achieved its aim - the remaining answers will come at the right time be sure of that.
So I congratulate Trellis for putting his head on the block and standing up for so many of us shareholders and their concerns.
Gasbag
sorry crude but you have overstepped the mark here. "james has said to me that marco was only interim only"
you have been privy to insider information and have repayed your morgage publicly on this bulletin board with smugness.
lots of decent investors have been investing hard earnt pensions living the dream,golden tickets etc.etc. shamefull you have the audacity to post here.
FFS John, it is a matter of record that I sold a load of shares at 89p & paid off my mortgage - so the answer to your question is yes, I made money...that is our whole raison d'etre here on the wild west AIM!
" JP did say to me that "Marco is interim only" - tfft!! I do sympathise with Trellis as the rug seems to have been pulled from underneath him" and " it seems Marco will not be the sympathetic ear that Simon was once thought to be". You need to explain these statements. You spoke to Mr Parsons and you came away with these opinions Mr Crudehope. Is this inside information, compliance?
it is the marco comment that has enraged me. not your trading plan.when you word your posts it does suggest you have been given the nudge to "sell now"