Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I'll also bite:
1) What has the management achieved in the past 4 years which justifies taking a salary?
a. Updated the Mine plan to utilise a higher cut-off grade and a lower strip ratio.
b. Commenced testwork on graphite to ensure suitability for purity.
c. Increased the Mahenge NPV8 to $430 Million
d. Completed the testwork with CSIRO
e. Applied for a Mining Licence
f. Proved up to 99.99% purity can be achieved
g. Submitted ESG impact assessment
h. Commenced FEED
i. Received formal approval on ESIA
j. Received Mining Licence
k. Appointed Greg Entwistle who is a phenomenal appointment.
2) I would hazard a guess that it would not make sense to sell down investments, and then use the remaining investments for general working capital. It would be foolish to do so.
3) I'd expect the wider market to want to see more details on the project prior to making judgement. We'll be able to make judgement as we receive further info. I didn't know much beyond there being a silver project. I can't imagine MB is adding garbage projects - But I'll wait for the RNS with information.
4) "We're funded until production" means we're funded on the basis of the projected timelines. You really need this explained?
5) Anything can look imminent, until it isn't. Until it is again. and then it isn't again. Lenders move goalposts. You're telling me you're too naive to know this?
6) Again, do your own homework. I'm not wasting hours trawling through RNS' to help a troll. You do it. Then come back to us with your findings.
Now, please feel free to answer MY initial question, and my questions about you and AST.
I suspect you won't, and you'll deflect.
Answers on a postcard, please.
@ RHT99
1 - Nothing of any note, as it would have RNS'd. But you know that.
2 - No idea. If i knew i would have inside knowledge, and i don't. Should it have been funded from investments?
3 - It's not for me to justify. No, i didn't take part in any placement.
4 - Probably a question that you need to take up with MB. How much money did ACP need to be funded through to production. Once again, i have no idea what happens behind the scenes. If i did i would be an insider. As for lying to the market? That would be a very serious thing to do. Probably custodial. Do you think he lied? Because if you did i think you should provide some concrete proof of that, instaeds of throwing accusations around.
5 - Maybe non-binding finance was initially agreed and then pulled. Again. If i knew i'd be an insider. Can you lead me to the RNS where MB said production would be in Feb 2020, without the licence. That would be quite stupid. I cannot find it, so give me a date please.
6 - Seeing as though you are so negative on MB, why don't you do your due diligence. I have a rough figure, but i'm certainly not going to do your homework for you. You have apparently raked up all things that you find negative, but the holdings one, i would have thought you would have been all over it.
Do you thinK Matt Bull lied when he said that ACP was funded through to finance? A very serious accusation, so if your answer is yes, please provide the evidence.
Thanks
Great, more investors have joined the conversation. Welcome fellas. Hopefully you can do a better job than your predecessors.
1) What has the management achieved in the past 4 years which justifies taking a salary?
2) Why was the recent acquisition not funded through the £1.59m listed investments?
3) How do you justify the £500k spend to go via the issue of 184m shares/warrants at a record low price? Presumably, you took part in the placement - did you or any other placee see the investment pitch with its details or did you go in blind?
4) What was Matt doing in Sep 19 when he said the company was now funded until production with £500k raised at 1.8p. Why then did he follow this up with £400k raised via CLNs and this again was followed up with £550k subscription in April 2020 @2.25p with 24m warrants @3.25p. Did he lie to the market when he stated in RNS that the company was fully funded to project finance?
5) There were multiple RNSs in H1 2020 saying finance imminent then no news. The chairman stated that ACP will be in production in Q1 2020 as late as Feb 2020 yet the mining license hadn't even been applied for. Why?
6) What proportion of Matt’s holdings are “free shares” and how much were paid for? A calculation for his low average wouldn’t go amiss.