Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Quite possibly a great many buys are from the likes of RoJo, Aimster, Commercia, Prosciutto et al buying back in and who can blame them ?
MM's showing real control today, moving it up just enough to free up some stock to clear a bit of the queue of buys, then put the lid back on. Nobody wants it to spike, so small ticks up is the way to go to build consolidation under the price.
Lol!! Ask for a price for 1,000,000 and the next thing you know is they drop the bid back to 1.40p. Call this a market?!? Bloody shysters.
I am being offered 1.525p for 500,000 but no quote for 1,000,000. So those MM's are still being defensive.
We are about to find out - 1.50p on the bid yet again!
Breaking resistance atm....nice
1.59 to buy
I note also that as soon as the bid touched 1.50p there were a small series of simultaneous trades (presumably SELLS) that took it back down again. I wonder if that could be all of the trades with "limit" orders? Surely there were more than 5/6 orders at 1.50? I wonder how many more there are to come? If that was an attempt by the MM's to get some stock back, they did not do very well - unless there are a number of trades yet to be "declared"?
I see that the spread touched 1.50 - 1.60 at one point. Let's hope it closes at or above that level.
๐ช
First tick up of the day
No reason for it not to rise. Weโve had regular news. Last RNS was only on Friday.
Knowing the license is approved has given investors confidence that the negotiations and paperwork are done and announcement of drilling schedule is coming.
Aminex is also clearly undervalued considering the asset, impending first gas / revenues etc
Reasons for more people to want to buy than sell the = rising share price
Taking the mick MM's ?
Well that is now a five year high
Albeit not the biggest trades ever. Still great to see 1.60 paid ๐
Oh and 1.515p paid.
Back to that defensive spread I see :0(
The only upside being that the spread is now 1.40 - 1.60p.
Still on the election the current president Samia looks safe due to corruption in the opposition party.
"As a Zanzibar axiomatic wisdom reminds us, โMhini na mhiniwa ndiya yao huwa moyaโฆ.hakuna anayepata.โ meaning the plotter and the plotted path is the same, neither of them prospers. Both Lissu and Mbowe will lose the presidential election in 2025 to President Samia Suluhu Hassan."
https://www.digest.tz/chadema-internal-strife-a-constitutional-crisis-threatens-party-unity/
BG/RJ,
Election, good point, there will sure be some fanfare and blowing their own trumpet about the Gas.
Big push on clean cooking and energy... https://www.thecitizen.co.tz/tanzania/news/national/inside-tanzania-s-sh4-6-trillion-clean-cooking-energy-plan-4617214
Which is why..."Tanzanian Government's, firm commitment to achieving first gas as soon as possible, with a deadline of no later than mid-2025. "
And with the Tanzanian election next year, they will certainly milk the progress of the Ntorya development for all its worth. ๐๐
After thinking long and hard on the question of potential delays, and slept on it, I have concluded that I am the least concerned about the possibility of a delay than I have ever been.
The new Deputy Prime Minister and Minister of Energy Doto Biteko is the one driving this project, he's a man on a mission by the looks of it, he's definitely making things progress and at a much faster rate than any of his predecessors. He only went into office on 1 September 2023, yet has done more for the sector in 9 months that was done in many previous years.
I think the last thing anyone should be concerned about from this point onwards is delays. Of course they can happen due to unexpected circumstances, but everything the government has planned is easily achievable within the timescale given, so most unexpected circumstances should not actually cause any delay.
Whilst I'm confident, you'd be a fool not to think there could yet be another kick in the nuts. All looks as good as it can for now until official RNS and confirmation of schedule and driling plans.
I am a lot more positive now and things are heading in the right direction. All I'm saying is I cannot predict the future - and it' all a matter of opinion but given past experience there have been delays. Will be happy this time if there aren't but people on here seem to think it's a given that we will have gas being produced by the middle of 2025 and all I'm saying is given past delays this might not be the case - like I say time will tell!! Here'e hoping for many more weeks like last week.
Atb,
Northern
Only you and your one tick friends RoJo ๐